Common use of Investment of Moneys in Funds and Accounts Clause in Contracts

Investment of Moneys in Funds and Accounts. All moneys in any of the funds and accounts or subaccounts thereof established pursuant to this Indenture, shall be invested by the Trustee solely in such Eligible Securities as are specified in a Request of the Corporation, provided, however, that, if the Corporation does not file such a Request with the Trustee, the Trustee shall invest to the extent practicable in investments described in clause (7) of the definition of the term “Eligible Securities” in Section 1.01 of this Indenture; provided, however, that any such investment shall be made by the Trustee only if, prior to the date on which such investment is to be made, the Trustee shall have received a Request of the Corporation specifying a specific money market fund and, if no such Request of the Corporation is so received, the Trustee shall hold such moneys uninvested. All interest, profits and other income received from the investment of moneys shall be deposited in the Revenue Fund; provided that interest, profits and other income received from the investment of moneys in each of the Capitalized Interest Account and the Project Fund shall be retained therein. Investments in any and all funds and accounts established pursuant to this Indenture may be commingled for purposes of making, holding and disposing of investments, notwithstanding provisions herein for transfer to or holding in a particular fund amounts received or held by the Trustee hereunder, provided that the Trustee shall at all times account for such investments strictly in accordance with the particular funds to which they are credited and otherwise as provided in this Indenture. The Trustee may act as principal or agent in the making or disposing of any investment. To the extent Eligible Securities are registrable, such investments shall be registered in the name of the Trustee. The Trustee may sell or present for redemption, any securities so purchased whenever it shall be necessary to provide moneys to meet any required payment, transfer, withdrawal or disbursement from the fund or account to which such securities are credited, and the Trustee shall not be liable or responsible for any loss resulting from such investment. The Trustee is hereby authorized, in making or disposing of any investment permitted by this Section, to deal with itself (in its individual capacity) or with any one or more of its affiliates, whether it or such affiliate is acting as an agent of the Trustee or for any third person or dealing as principal for its own account. No float forward or forward purchase agreement or other arrangement, agreement or financial product may be utilized in connection with the Revenue Fund. The Corporation acknowledges that to the extent regulations of the Comptroller of the Currency or other applicable regulatory entity grant the Corporation the right to receive brokerage confirmations of security transactions as they occur, the Corporation specifically waives receipt of such confirmations to the extent permitted by law. The Trustee will furnish the Corporation periodic cash transaction statements which include detail for all investment transactions made by the Trustee hereunder.

Investment of Moneys in Funds and Accounts. All moneys in any of the funds and accounts held by the Trustee or subaccounts thereof the Issuing and Paying Agent and established pursuant to this IndentureIndenture shall be invested, as directed by the Commission, solely in Investment Securities. All Investment Securities shall, as directed by the Commission in writing or by telephone, promptly confirmed in writing, be acquired subject to the limitations set forth in Section 6.09 and each Tax Certificate, the limitations as to maturities hereinafter in this Section and each Tax Certificate set forth and such additional limitations or requirements consistent with the foregoing as may be established in each Tax Certificate or by Request of the Commission. If and to the extent the Trustee or the Issuing and Paying Agent does not receive investment instructions from the Commission with respect to the moneys in the funds and accounts held pursuant to this Indenture by the Trustee or the Issuing and Paying Agent, as applicable, such moneys shall be invested by the Trustee solely in such Eligible Investment Securities as are specified in a Request of the Corporation, provided, however, that, if the Corporation does not file such a Request with the Trustee, the Trustee shall invest to the extent practicable in investments described in clause (7xii) of the definition of thereof and the term “Eligible Securities” Trustee or the Issuing and Paying Agent, as applicable, shall thereupon request investment instructions from the Commission for such moneys. Moneys in Section 1.01 of this Indenture; provided, however, that any such investment the funds and accounts shall be made by the Trustee only if, prior to invested in Investment Securities maturing or available on demand not later than the date on which it is estimated that such investment is to moneys will be made, required by the Trustee shall have received a Request or the Issuing and Paying Agent. Moneys held by the Issuing and Paying Agent for the payment of the Corporation specifying a specific money market fund and, if no such Request principal of and interest on Notes that have matured shall be held uninvested or shall be invested only in Investment Securities described in clauses (i) or (ii) of the Corporation is so definition thereof. Unless otherwise provided herein or in a Supplemental Indenture, all interest, profits and other income received from the investment of moneys in, any fund or account, other than the Rebate Fund, shall be transferred to the Revenue Fund when received, the Trustee shall hold such moneys uninvested. All interest, profits and other income received from the investment of moneys in the Rebate Fund shall be deposited in the Revenue Rebate Fund; , except as provided that in Section 6.09. Notwithstanding anything to the contrary contained in this paragraph, an amount of interest received with respect to any Investment Security equal to the amount of accrued interest, profits and other income received from the investment of moneys in each if any, paid as part of the Capitalized Interest Account and the Project Fund purchase price of such Investment Security shall be retained thereincredited to the fund or account from which such accrued interest was paid. Investments in The Trustee may commingle any and all of the funds and or accounts established and held by the Trustee pursuant to this Indenture may be commingled (other than the Rebate Fund) into a separate fund or funds for investment purposes of makingonly, holding and disposing of investments, notwithstanding provisions herein for transfer to provided that all funds or holding in a particular fund amounts received or accounts held by the Trustee hereunder, hereunder shall be accounted for separately as required by this Indenture; and provided that further the Trustee shall at all times account for segregate such investments strictly funds and accounts if so instructed by the Commission to assist in accordance with the particular funds to which they are credited and otherwise as provided in this Indenturecalculation of the Rebate Requirement. The Trustee may act as principal or agent in the making or disposing of any investment. To investment and, with the extent Eligible Securities are registrable, such investments shall be registered in the name prior written consent of the TrusteeCommission may impose its customary charge therefor. The Trustee may sell at the best price obtainable, or present for redemption, any securities Investment Securities so purchased whenever it shall be necessary to provide moneys to meet any required payment, transfer, withdrawal or disbursement from the fund or account to which such securities are Investment Security is credited, and the Trustee shall not be liable or responsible for any loss resulting from such investment. The Commission may, and the Trustee is hereby authorizedshall, in making or disposing of any investment permitted by this Section, to deal with itself (in its individual capacity) or with any one or more of its affiliates, whether it or such affiliate is acting as an agent upon the Request of the Trustee or for any third person or dealing as principal for its own account. No float forward or forward purchase agreement or other arrangementCommission, agreement enter into a financial futures or financial product option contract with an entity the debt securities of which are rated in the highest short-term or one of the two highest long-term Rating Categories by Xxxxx’x and S&P. The Commission may, and the Trustee shall, upon the Request of the Commission, enter into an Interest Rate Swap Agreement corresponding to the interest rate or rates payable on a Series of Notes or Parity Debt or any portion thereof and the amounts received by the Commission or the Trustee, if any, pursuant to such Interest Rate Swap Agreement may be utilized applied to the deposits required hereunder. If the Commission so designates, amounts payable under an Interest Rate Swap Agreement shall be secured by Revenues and other assets pledged hereunder to the Notes and other Parity Debt on a parity basis therewith (excluding amounts payable in connection with any termination or unwinding of an Interest Rate Swap Agreement which shall be secured on a subordinate basis) and, in such event, the Revenue Commission shall pay to the Trustee for deposit in the Interest Fund. The Corporation acknowledges that , at the times and in the manner provided by Section 5.02, the amounts to be paid under such Interest Rate Swap Agreement, as if such amounts were additional interest due on the Notes to which such Interest Rate Swap Agreement relates, and the Trustee shall pay to the other party to the Interest Rate Swap Agreement, to the extent regulations required thereunder, amounts deposited in the Interest Fund for the payment of interest on the Notes with respect to which such Interest Rate Swap Agreement was entered into. The Trustee shall keep proper books of record and accounts containing complete and correct entries of all transactions made by it relating to the receipt, investment, disbursement, allocation and application of the Comptroller moneys related to the Notes, including moneys derived from, pledged to, or to be used to make payments on the Notes. Such records shall specify the account or fund to which each investment (or portion thereof) held by the Trustee is to be allocated and shall set forth, in the case of each investment security, (a) its purchase price, (b) identifying information, including par amount, coupon rate, and payment dates, (c) the amount received at maturity or its sale price, as the case may be, including accrued interest, (d) the amounts and dates of any payments made with respect thereto, and (e) the dates of acquisition and disposition or maturity. The Trustee shall also provide to the Commission in accordance with a Request of the Currency Commission, with respect to each Investment Security such documentation as is reasonably available to the Trustee and is required by the Code or other applicable regulatory entity grant the Corporation the right law to receive brokerage confirmations of security transactions as they occur, the Corporation specifically waives receipt of such confirmations to the extent permitted by law. The Trustee will furnish the Corporation periodic cash transaction statements which include detail for all investment transactions made be obtained by the Trustee hereunderCommission as evidence to establish that each investment had been acquired and disposed of on an established market in an arm’s-length transaction at a price equal to its fair market value and with no amounts having been paid to reduce the yield on the investments.

Investment of Moneys in Funds and Accounts. All Upon the written direction of the Agency, received by the Trustee at least two (2) Business Days prior to such investment, moneys in the Debt Service Fund, the Interest Account, the Principal Account, any of Sinking Account, the funds and accounts Expense Fund, the Rebate Fund or subaccounts thereof established pursuant to this Indenture, the Reserve Account shall be invested by the Trustee solely in Authorized Investments. In the absence of such Eligible Securities as are specified in a Request of the Corporation, provided, however, that, if the Corporation does not file such a Request with the Trustee, instructions the Trustee shall invest to in the extent practicable in investments described in clause paragraph (75) of the definition of Authorized Investments, except as otherwise provided in this Section. The obligations in which moneys in the term “Eligible Securities” in Section 1.01 of this Indenture; providedDebt Service Fund, howeverthe Interest Account, that the Principal Account or any such investment Sinking Account are so invested shall be made by the Trustee only if, mature prior to the date on which such investment is moneys are estimated to be made, required to be paid out hereunder. The obligations in which moneys in the Reserve Account are so invested shall be invested in obligations maturing no more than five years from the date of purchase by the Trustee shall have received a Request or on the final maturity date of the Corporation specifying a specific money market fund andBonds, whichever date is earlier; provided, however, that if no an obligation may be redeemed at par on the business day prior to each Interest Payment Date during which such Request of the Corporation obligation is so receivedoutstanding, the such obligation may have any maturity. The Trustee shall hold determine the value of Reserve Account investments semiannually (and monthly from the date of any deficiency until such moneys uninvesteddeficiency is cured). All Any interest, income or profits and other income received from the investment deposits or investments of moneys all funds (except the Revenue Fund, Redevelopment Fund, Expense Fund and Rebate Fund) and accounts shall be deposited in the Debt Service Fund. All earnings on amounts in the Revenue Fund; , Expense Fund, Redevelopment Fund and Rebate Fund shall remain in such funds. For purposes of determining the amount on deposit in any fund or account held hereunder, all Authorized Investments credited to such fund or account shall be valued at the cost thereof (excluding accrued interest and brokerage agencies, if any). Except as otherwise provided that interestin this Section, profits and other income received from the Authorized Investments representing an investment of moneys in each of the Capitalized Interest Account attributable to any fund or account and the Project Fund all investment profits or losses thereon shall be retained therein. Investments in any and all funds and accounts established pursuant to this Indenture may be commingled for purposes of making, holding and disposing of investments, notwithstanding provisions herein for transfer to or holding in a particular fund amounts received or held by the Trustee hereunder, provided that the Trustee shall deemed at all times account to be a part of said fund or account. Amounts deposited in the Revenue Fund and the Redevelopment Fund may be invested in any investment permitted by law for such investments strictly in accordance with the particular funds to which they are credited and otherwise as provided in this IndentureAgency funds. The Trustee or any of its affiliates may act as principal or agent in the making acquisition or disposing disposition of any investment. To the extent Eligible Securities are registrable, such investments shall be registered in the name of the Trusteehereunder. The Trustee may sell commingle moneys in any of the funds or present accounts created hereunder for redemptionpurposes of investment. The Trustee may conclusively rely on the instructions of the Agency that the Authorized Investment is a legal investment under the laws of the State of California for such purposes. Absent negligence, any securities so purchased whenever it shall be necessary to provide moneys to meet any required paymentbad faith or willful misconduct by the Trustee, transfer, withdrawal or disbursement from the fund or account to which such securities are credited, and the Trustee shall not be responsible or liable or responsible for any loss resulting from such investment. The Trustee is hereby authorized, in making or disposing of any investment permitted by this Section, to deal with itself (in its individual capacity) or with any one or more of its affiliates, whether it or such affiliate is acting as an agent of the Trustee or for any third person or dealing as principal for its own account. No float forward or forward purchase agreement or other arrangement, agreement or financial product may be utilized suffered in connection with the Revenue Fundany investment of funds made by it in accordance with this Section. The Corporation Agency acknowledges that to the extent regulations of the Comptroller of the Currency or other applicable regulatory entity grant the Corporation Agency the right to receive brokerage confirmations of security transactions as they occur, the Corporation specifically waives receipt of Agency will not receive such confirmations from the Trustee to the extent permitted by law. The Trustee will furnish the Corporation Agency periodic cash transaction statements which shall include detail for all investment transactions made by the Trustee hereunder. The Trustee or any of its affiliates may act as sponsor, advisor or manager in connection with any investments made by the Trustee hereunder.

Investment of Moneys in Funds and Accounts. All moneys in any of the funds and accounts or subaccounts thereof established pursuant to this Indenture, Indenture shall be invested by by, and in the Trustee solely in such Eligible Securities as are specified in a Request name of, the Trustee, upon the written direction of the Corporation, provided, however, that, if solely in Investment Securities. The Trustee shall acquire such Investment Securities upon the written direction of the Corporation does not file at such a Request with prices and on such terms as directed by the TrusteeCorporation. In the absence of written investment directions from the Corporation, the Trustee shall invest to the extent practicable solely in investments described Investment Securities set forth in clause (7d) of the definition thereof. All Investment Securities shall be acquired subject to the limitations set forth in Section 6.07, the limitations as to maturities hereinafter in this Section 5.08 set forth and such additional limitations or requirements consistent with the foregoing as may be established by Request of the term “Eligible Corporation. The Corporation shall not direct the Trustee to invest in anything other than Investment Securities” . Moneys in Section 1.01 of all funds and accounts (other than the Debt Service Reserve Account and the Rebate Fund) shall be invested in Investment Securities maturing not later than the date on which it is estimated by the Corporation that such moneys will be required for the purposes specified in this Indenture. Moneys in the Debt Service Reserve Account shall be invested in Investment Securities maturing prior to the final maturity of the Bonds but in no event longer than five (5) years from the date of investment therein; provided, however, that any such investment shall moneys in the Debt Service Reserve Account may be made invested in Investment Securities with a nominal maturity date which is greater than five (5) years as long as said Investment Securities by their terms allow the Trustee only if, prior to obtain (at any time the Trustee is required to draw on the Debt Service Reserve Account hereunder) the corpus thereto at no less than the purchase price thereof without any loss in value. Investment Securities purchased under a repurchase agreement may be deemed to mature on the date or dates on which such investment is to be made, the Trustee shall have received a Request of the Corporation specifying a specific money market fund and, if no may deliver such Request of the Corporation is so received, the Trustee shall hold Investment Securities for repurchase under such moneys uninvestedagreement. All interest, profits and other income received from the investment of moneys in the Interest Account or the Debt Service Reserve Account shall be deposited in the Revenue Fund; provided that retained therein. All interest, profits and other income received from the investment of moneys in each any other fund or account established pursuant to this Indenture (i) prior to completion of the Capitalized Interest Account and Project (determined by the delivery of a Statement of the Corporation in accordance with Section 3.04(c)), shall be deposited when received in the Project Fund Fund, and thereafter (ii) shall be retained thereintransferred when received to the Revenue Fund. Investments Notwithstanding anything to the contrary contained in this paragraph, an amount of interest received with respect to any Investment Security equal to the amount of accrued interest, if any, paid as part of the purchase price of such Investment Security shall be credited to the fund or account for the credit of which such Investment Security was acquired. Investment Securities acquired as an investment of moneys in any and all fund or account established under this Indenture shall be credited to such fund or account. The Trustee may commingle any of the funds and or accounts established pursuant to this Indenture may be commingled (other than the Rebate Fund) into a separate fund or funds for investment purposes of makingonly, holding and disposing of investments, notwithstanding provisions herein for transfer to provided that all funds or holding in a particular fund amounts received or accounts held by the Trustee hereunder, provided that the Trustee hereunder shall at all times account be accounted for such investments strictly in accordance with the particular funds to which they are credited and otherwise separately as provided in required by this Indenture. The Trustee or any of its affiliates may act as principal or agent in the making or disposing of any investment. To the extent Eligible Securities are registrable, such investments shall be registered in the name of the Trustee. The Trustee may sell in any commercially reasonable manner, or present for redemption, any securities Investment Securities so purchased whenever it shall be necessary to provide moneys to meet any required payment, transfer, withdrawal or disbursement from the fund or account to which such securities are Investment Security is credited, and and, subject to the provisions of Section 8.03, the Trustee shall not be liable or responsible for any loss resulting from such investmentany investment made in accordance with provisions of this Section 5.08. The Trustee is hereby authorizedshall be entitled to assume, in making or disposing absent receipt by the Trustee of written notice to the contrary, that any investment permitted which at the time of purchase is an Investment Security remains an Investment Security. The Authority and the Corporation (by this Section, to deal with itself (in its individual capacity) or with any one or more of its affiliates, whether it or such affiliate is acting as an agent their signing of the Trustee or for any third person or dealing as principal for its own account. No float forward or forward purchase agreement or other arrangement, agreement or financial product may be utilized in connection with the Revenue Fund. The Corporation acknowledges Loan Agreement) acknowledge that to the extent regulations of the Comptroller of the Currency or other applicable regulatory entity grant the Authority and the Corporation the right to receive brokerage confirmations of security transactions as they occur, at no additional cost, the Authority and the Corporation specifically waives waive receipt of such confirmations to the extent permitted by law. The Trustee will furnish the Authority and the Corporation with periodic cash transaction account statements as provided herein which include detail for all investment transactions made by the Trustee hereunder. For the purpose of determining the amount in any fund, all Investment Securities credited to such fund shall be valued at fair market value determined by the Trustee based on accepted industry standards and from accepted industry providers (including as set forth in the last sentence of Section 5.06(b) and /or Section 5.10 hereof), as to certificates of deposit and bankers’ acceptances, the face amount thereof plus accrued interest thereon.

Investment of Moneys in Funds and Accounts. All moneys in any of the funds and accounts or subaccounts thereof established pursuant to this IndentureIndenture shall, shall upon Request of the Authority provided at least two (2) Business Days prior to the date of investment, be invested by the Trustee Trustee, but solely in Permitted Investments. In the absence of such Eligible Securities as are specified in a Request of the Corporation, provided, however, that, if the Corporation does not file such a Request with the TrusteeAuthority, the Trustee shall invest to the extent practicable available moneys in investments described in clause paragraph (7h) of the definition of Permitted Investments. In the term “Eligible Securities” in Section 1.01 absence of this Indenture; provided, however, that any such investment shall be made by directions from the Trustee only if, prior to the date on which such investment is to be made, the Trustee shall have received a Request of the Corporation specifying a specific money market fund and, if no such Request of the Corporation is so receivedAuthority, the Trustee shall hold such funds uninvested pending the receipt of written investment instructions. All Permitted Investments shall be acquired subject to the limitations as to maturities hereinafter set forth in this Section 5.07 and such additional limitations or requirements consistent with the foregoing as may be established by Request of the Authority. Moneys in the remaining funds and accounts shall be invested in Permitted Investments maturing not later than the date on which it is estimated that such moneys uninvestedwill be required by the Trustee. All interest, profits and other income received from the investment of moneys in any other fund or account established pursuant to this Indenture shall be deposited when received in the Revenue Bond Fund; provided that . Notwithstanding anything to the contrary contained in this paragraph, an amount of interest received with respect to any Permitted Investment equal to the amount of accrued interest, profits and other income received from the investment of moneys in each if any, paid as part of the Capitalized Interest Account and the Project Fund purchase price of such Permitted Investment shall be retained thereincredited to the fund or account for the credit of which such Permitted Investment was acquired. Investments in The Trustee may commingle any and all of the funds and or accounts established pursuant to this Indenture may be commingled into a separate fund or funds for investment purposes of makingonly, holding and disposing of investments, notwithstanding provisions herein for transfer to provided that all funds or holding in a particular fund amounts received or accounts held by the Trustee hereunder, provided that the Trustee hereunder shall at all times account be accounted for such investments strictly in accordance with the particular funds to which they are credited and otherwise separately as provided in required by this Indenture. The Trustee may act as principal or agent in the making or disposing of any investment. To the extent Eligible Securities are registrable, such investments shall be registered in the name of the Trustee. The Trustee may sell sell, or present for redemption, any securities Permitted Investments so purchased whenever it shall be necessary to provide moneys to meet any required payment, transfer, withdrawal or disbursement from the fund or account to which such securities are Permitted Investment is credited, and and, subject to the provisions of Section 9.03, the Trustee shall not be liable or responsible for any loss of any kind resulting from any such investment. The parties acknowledge that the Trustee is hereby authorizednot providing investment supervision, in making recommendations or disposing of any investment permitted by this Section, to deal with itself (in its individual capacity) or with any one or more of its affiliates, whether it or such affiliate is acting as an agent of the Trustee or for any third person or dealing as principal for its own account. No float forward or forward purchase agreement or other arrangement, agreement or financial product may be utilized in connection with the Revenue Fundadvice. The Corporation Authority acknowledges that that, to the extent regulations of the Comptroller of the Currency or other applicable regulatory entity grant grants the Corporation Authority the right to receive brokerage confirmations of security transactions as they occur, the Corporation Authority specifically waives receipt of such confirmations to the extent permitted by law. The Trustee will furnish the Corporation Authority periodic cash transaction statements which include detail for all investment transactions made by the Trustee hereunder. The Trustee may make any investments hereunder through its own bond or investment department or trust investment department, or those of its parent or any affiliate. The Trustee or any of its affiliates may act as sponsor, advisor or manager in connection with any investments made by the Trustee hereunder.

Investment of Moneys in Funds and Accounts. All moneys in any of the funds and accounts or subaccounts thereof established pursuant to this Indenture, shall be invested by the Trustee solely in such Eligible Securities as are specified in a Request of the Corporation, provided, however, that, if the Corporation does not file such a Request with the Trustee, the Trustee shall invest to the extent practicable in investments described in clause (7) of the definition of the term “Eligible Securities” in Section 1.01 of this Indenture; provided, however, that any such investment shall be made by the Trustee only if, prior to the date on which such investment is to be made, the Trustee shall have received a Request of the Corporation specifying a specific money market fund and, if no such Request of the Corporation is so received, the Trustee shall hold such moneys uninvested. All interest, profits and other income received from the investment of moneys shall be deposited in the Revenue Fund; [provided that interest, profits and other income received from the investment of moneys in each of the Capitalized Interest Account and the Project Fund shall be retained therein]. Investments in any and all funds and accounts established pursuant to this Indenture may be commingled for purposes of making, holding and disposing of investments, notwithstanding provisions herein for transfer to or holding in a particular fund amounts received or held by the Trustee hereunder, provided that the Trustee shall at all times account for such investments strictly in accordance with the particular funds to which they are credited and otherwise as provided in this Indenture. The Trustee may act as principal or agent in the making or disposing of any investment. To the extent Eligible Securities are registrable, such investments shall be registered in the name of the Trustee. The Trustee may sell or present for redemption, any securities so purchased whenever it shall be necessary to provide moneys to meet any required payment, transfer, withdrawal or disbursement from the fund or account to which such securities are credited, and the Trustee shall not be liable or responsible for any loss resulting from such investment. The Trustee is hereby authorized, in making or disposing of any investment permitted by this Section, to deal with itself (in its individual capacity) or with any one or more of its affiliates, whether it or such affiliate is acting as an agent of the Trustee or for any third person or dealing as principal for its own account. No float forward or forward purchase agreement or other arrangement, agreement or financial product may be utilized in connection with the Revenue Fund. The Corporation acknowledges that to the extent regulations of the Comptroller of the Currency or other applicable regulatory entity grant the Corporation the right to receive brokerage confirmations of security transactions as they occur, the Corporation specifically waives receipt of such confirmations to the extent permitted by law. The Trustee will furnish the Corporation periodic cash transaction statements which include detail for all investment transactions made by the Trustee hereunder.