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.
Appears in 2 contracts
Samples: Receivables Transfer Agreement (Synnex Corp), Purchase Agreement (Synnex Information Technologies 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 Operating Agent shall invest all such amounts in Permitted Investments selected by the Administrative Operating 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 Operating Agent, subject to the restrictions described above.. SECTION 6.07
Appears in 1 contract
Samples: Receivables Purchase and Servicing Agreement (Cone Mills Corp)
Investment of Funds in Accounts. To the extent uninvested amounts are on deposit in the Collateral Account or the either Retention Account on any given day during the Revolving Period, the Administrative Operating Agent or the Lender Agent, as the case may be, shall invest all such amounts in Permitted Investments selected by the Administrative such 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 either Retention Account. From and after the Facility Termination Liquidation Date, any investment of such amounts shall be solely at the discretion of the Administrative applicable Agent, subject to the restrictions described above.
Appears in 1 contract
Samples: Revolving Loan Agreement (Pilgrim America Prime Rate Trust)
