Investment of Funds in Accounts. To the extent uninvested amounts are on deposit in the Retention Account on any given day during the Revolving Period, the Administrative Agent shall invest all such amounts in Permitted Investments selected by the Administrative Agent that mature no later than the immediately succeeding Settlement Date. From and after the Facility Termination Date, any investment of such amounts shall be solely at the discretion of the Administrative Agent, subject to the restrictions described above. All proceeds of any such investment shall be deposited upon receipt into the Retention Account.
Appears in 3 contracts
Samples: Receivables Purchase and Servicing Agreement (Bergen Brunswig Corp), Receivables Purchase and Servicing Agreement (Advancepcs), Receivables Purchase and Servicing Agreement (Daisy Parts Inc)
Investment of Funds in Accounts. To the extent uninvested amounts are on deposit in the Collateral Account or the Retention Account on any given day during the Revolving Period, the Administrative Agent shall invest all such amounts in Permitted Investments selected by the Administrative Agent that mature no later than (a) the immediately succeeding Business Day, in the case of the Collateral Account, and (b) the immediately succeeding Settlement Date, in the case of the Retention Account. From and after the Facility Termination Date, any investment of such amounts shall be solely at the discretion of the Administrative Agent, subject to the restrictions described above. All proceeds of any such investment shall be deposited upon receipt into the Retention Account.
Appears in 2 contracts
Samples: Receivables Purchase and Servicing Agreement (Synnex Information Technologies Inc), Receivables Purchase and Servicing Agreement (Synnex Corp)
Investment of Funds in Accounts. To the extent uninvested amounts are on deposit in the Retention Account on any given day during the Revolving Period, the Administrative Agent shall invest all such amounts in Permitted Investments selected by the Administrative Agent that mature no later than the immediately succeeding Settlement Date. From and after the Facility Termination Date, any investment of such amounts shall be solely at the discretion of the Administrative Agent, subject to the restrictions described above. All proceeds of any such investment shall be deposited upon receipt into the Retention Account.
Appears in 2 contracts
Samples: Receivables Funding Agreement (Labor Ready Inc), Receivables Sale and Contribution Agreement (Consolidated Freightways Corp)
Investment of Funds in Accounts. To the extent uninvested amounts are on deposit in the Retention Reserve Account on any given day during the Revolving Period, the Administrative Agent shall invest all such amounts in Permitted Investments selected by the Administrative Agent that mature no later than the immediately succeeding Settlement Date. From and after the Facility Termination Date, any investment of such amounts shall be solely at the discretion of the Administrative Agent, subject to the restrictions described above. All proceeds of any such investment shall be deposited upon receipt into the Retention Reserve Account.
Appears in 1 contract
Samples: Receivables Purchase and Servicing Agreement (Amerisourcebergen Corp)
Investment of Funds in Accounts. To Prior to a Committed Purchaser Funding Event, to the extent uninvested amounts are on deposit in the Retention Account on any given day during the Revolving Period, the Administrative Agent shall invest all such amounts in Permitted Investments selected by the Administrative Agent that mature no later than the immediately succeeding Settlement Date. From and after the Facility Termination Date, any investment of such amounts shall be solely at the discretion of the Administrative Agent, subject to the restrictions described above. All proceeds of any such investment shall be deposited upon receipt into the Retention Account.
Appears in 1 contract
Samples: Receivables Purchase and Servicing Agreement (K2 Inc)
