Investment of Funds in the Collection Account and the Release Account. (a) The Property Manager shall direct any institution maintaining the Collection Account to invest the funds held therein in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, not later than the Business Day immediately preceding the next succeeding Remittance Date, which may be in the form of a standing direction.
Appears in 3 contracts
Samples: Management and Servicing Agreement (Spirit Finance Corp), Property Management Agreement (Spirit Finance Corp), Management and Servicing Agreement (Spirit Finance Corp)
Investment of Funds in the Collection Account and the Release Account. (a) The Property Manager shall may direct any institution maintaining the Collection Account to invest the funds held therein in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, not later than the Business Day immediately preceding the next succeeding Remittance DateDate relating to the Payment Date for which such funds will constitute Available Amounts, which may be in the form of a standing direction.
Appears in 3 contracts
Samples: Management and Servicing Agreement (Spirit MTA REIT), Limited Liability Company Agreement (Spirit MTA REIT), Management and Servicing Agreement (Spirit Realty Capital, Inc.)
Investment of Funds in the Collection Account and the Release Account. (a) The Property Manager shall direct any institution maintaining the Collection Account to invest the funds held therein in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, not later than the Business Day immediately preceding the next succeeding Remittance DateDate relating to the Payment Date for which such funds will constitute Available Amounts, which may be in the form of a standing direction.
Appears in 1 contract
Samples: Property Management Agreement (Spirit Realty Capital, Inc.)
