Common use of Investment of Moneys in Funds Clause in Contracts

Investment of Moneys in Funds. Subject to Section 4.06 hereof and the provisions of the Tax Agreement, moneys in the Bond Fund, the Project Fund and the Rebate Fund may be invested and reinvested in Cash Equivalents. Such investments shall be made by the Trustee, as specifically directed and designated by the Company in a certificate of an Authorized Company Representative. Each such certificate shall contain a statement that each investment so designated by the Company constitutes a Cash Equivalent and can be made without violation of any provision hereof or of the Loan Agreement, the Tax Agreement or applicable law. The Trustee shall be entitled to rely on each such certificate or advice and shall incur no liability for making any such investment so designated or for any loss, fee, tax or other charge incurred in selling such investment or for any action taken pursuant to this Section that causes the Bonds to be treated as “arbitrage bonds” within the meaning of Section 148 of the Code. No investment instructions shall be given by the Company if the investments to be made pursuant thereto would violate any covenant set forth in Section 4.06 hereof or the provisions of the Loan Agreement or the Tax Agreement. The Trustee is hereby authorized, in making or disposing of any investment permitted by this Section 6.01, 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. The Trustee shall not be responsible for any loss on any investment made in accordance herewith. Absent the provision of investment instructions hereunder, the Trustee shall invest such funds in the Prime Cash Obligations Fund Institutional Shares under the Federate Fund (#851) or a money market mutual fund registered under the Investment Company Act of 1940 (including those of an affiliate of the Trustee or for which the Trustee or any of its affiliates provides management advisory or other services) which invests in (i) short-term securities issued or guaranteed by the United States Government, its agencies or instrumentalities and/or (ii) repurchase agreements relating to such securities.

Investment of Moneys in Funds. Subject Any moneys held as a part of the Bond Fund or Construction Fund shall, at the direction of an Authorized Company Representative, which direction may be oral, but which shall be confirmed in writing, be invested or reinvested by the Trustee in Permitted Investments. Any such direction by an Authorized Company Representative shall expressly state that the securities to be acquired as a result of any such investment or reinvestment by the Trustee will constitute Permitted Investments and comply with this Section 4.06 hereof 3.2, and with the limitations of the Indenture. If such direction is oral, the Trustee shall be protected in acting upon such direction if the person giving such oral direction represents himself to be an Authorized Company Representative and the provisions Trustee has no reason to believe otherwise. The Company shall not direct the Trustee to make any investments or reinvestments other than those permitted by law. In making any such investments, the Trustee may rely on directions delivered to it pursuant to this Section, and the Trustee shall be relieved of all liability with respect to making such investments in accordance with such directions. Any Permitted Investments may be purchased at the Tax Agreementoffering or market price thereof at the time of such purchase and all such investments shall mature in such amounts and at such times, or shall be readily marketable prior to their maturities, as the Company may direct. The Trustee may make any and all such investments through its own bond department. Any interest accruing on or profit realized from the investment of any moneys in held as part of the Bond Fund, the Project Construction Fund and or the Rebate Fund may be invested and reinvested in Cash Equivalents. Such investments shall be made credited to the respective fund or account in which such investment is held and any loss resulting from such investment shall be charged to the respective fund or account in which such investment is held. For the purposes of this Section, any interest bearing deposits, including certificates of deposit, issued by or on deposit with the Trustee, as specifically directed and designated by the Company in a certificate of an Authorized Company Representative. Each such certificate shall contain a statement that each investment so designated by the Company constitutes a Cash Equivalent and can be made without violation of any provision hereof or of the Loan Agreement, the Tax Agreement or applicable law. The Trustee shall be entitled to rely on each such certificate or advice and shall incur no liability for making any such investment so designated or for any loss, fee, tax or other charge incurred in selling such investment or for any action taken pursuant to this Section that causes the Bonds deemed to be treated investments and not deposits. Any moneys held as “arbitrage bonds” within the meaning of Section 148 a part of the Code. No investment instructions Rebate Fund shall be given by the Company if the investments to be made pursuant thereto would violate any covenant set forth invested in Section 4.06 hereof or accordance with the provisions of the Loan Agreement or the Tax Agreement. The Trustee is hereby authorized, in making or disposing of any investment permitted by this Section 6.01, 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 5.4 of the Trustee or for any third person or dealing as principal for its own account. The Trustee shall not be responsible for any loss on any investment made in accordance herewith. Absent the provision of investment instructions hereunder, the Trustee shall invest such funds in the Prime Cash Obligations Fund Institutional Shares under the Federate Fund (#851) or a money market mutual fund registered under the Investment Company Act of 1940 (including those of an affiliate of the Trustee or for which the Trustee or any of its affiliates provides management advisory or other services) which invests in (i) short-term securities issued or guaranteed by the United States Government, its agencies or instrumentalities and/or (ii) repurchase agreements relating to such securitiesIndenture.

Investment of Moneys in Funds. Subject to Section 4.06 hereof and the provisions All moneys in any of the Tax Agreementfunds established pursuant to this Indenture (except moneys obtained from a draw on a Letter of Credit, which moneys in the Bond Fund, the Project Fund and the Rebate Fund may shall be held uninvested) shall be invested and reinvested in Cash Equivalents. Such investments shall be made by the Trustee, as specifically directed and designated in writing by the Company Company, solely in a certificate of an Authorized Company Representative. Each such certificate shall contain a statement that each investment so designated Investment Securities except with respect to Available Moneys held by the Company constitutes a Cash Equivalent and can Trustee for the payment of Undelivered Bonds, which Available Moneys the Trustee shall not invest. Investment Securities may be made without violation of any provision hereof purchased at such prices as the Trustee may in its discretion determine or as may be directed by the Company. All investment directions of the Loan Agreement, the Tax Agreement or applicable law. The Trustee Company shall be entitled subject to rely on each such certificate or advice and shall incur no liability for making any such investment so designated or for any loss, fee, tax or other charge incurred in selling such investment or for any action taken pursuant to this Section that causes the Bonds to be treated as “arbitrage bonds” within the meaning of Section 148 of the Code. No investment instructions shall be given by the Company if the investments to be made pursuant thereto would violate any covenant limitations set forth in Section 4.06 hereof 7.09 hereof, and all Investment Securities shall be acquired subject to the limitations as to maturities hereinafter in this Section set forth and such additional limitations or requirements consistent with the provisions foregoing as may be established by Request of the Loan Company. To the extent the Bank has not been reimbursed under the Reimbursement Agreement and has notified the Trustee of same in writing, all interest, profits and other income received from the investment of moneys in any fund established pursuant to this Indenture shall be transferred to the Bank in the amount specified in writing by the Bank. Otherwise, such amounts shall be deposited to the appropriate fund or account in which such investments were made. Notwithstanding anything to the Tax Agreementcontrary contained in this paragraph, an amount of interest received with respect to any Investment Security equal to the amount of accrued interest, or premium, if any, paid as part of the purchase price of such Investment Security shall be credited to the fund from which such accrued interest was paid. Investment Securities acquired as an investment of moneys in any fund established under this Indenture shall be credited to such fund. For the purpose of determining the amount in any fund, all Investment Securities credited to such fund shall be valued at the lesser of cost or par value plus, prior to the first payment of interest following purchase, the amount of accrued interest, if any, paid as a part of the purchase price. The Trustee is hereby authorized, may act as principal or agent in the making or disposing of any investment permitted by this Section 6.01, 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 accountinvestment. The Trustee may sell at the best price obtainable, or present for redemption, any Investment Securities so purchased whenever it shall be necessary to provide moneys to meet any required payment, transfer, withdrawal or disbursement from the fund to which such Investment Security is credited, and the Trustee shall not be liable or responsible for any loss on any resulting from such investment made in accordance herewith. Absent the provision of investment instructions hereunder, the Trustee shall invest such funds in the Prime Cash Obligations Fund Institutional Shares under the Federate Fund (#851) or a money market mutual fund registered under the Investment Company Act of 1940 (including those of an affiliate of the Trustee or for which the Trustee or any of its affiliates provides management advisory or other services) which invests in (i) short-term securities issued or guaranteed by the United States Government, its agencies or instrumentalities and/or (ii) repurchase agreements relating to such securitiessale.

Investment of Moneys in Funds. Subject to Section 4.06 hereof and the provisions of the Tax Agreement, moneys in the Bond Fund, the Project Fund and the Rebate Fund may be invested and reinvested in Cash Equivalents. Such investments shall be made by the Trustee, as specifically directed and designated by the Company in a certificate of an Authorized Company Representative. Each such certificate shall contain a statement that each investment so designated by the Company constitutes a Cash Equivalent and can be made without violation of any provision hereof or of the Loan Agreement, the Tax Agreement or applicable law. The Trustee shall be entitled to rely on each such certificate or advice and shall incur no liability for making any such investment so designated or for any loss, fee, tax or other charge incurred in selling such investment or for any action taken pursuant to this Section that causes the Bonds to be treated as “arbitrage bonds” within the meaning of Section 148 of the Code. No investment instructions shall be given by the Company if the investments to be made pursuant thereto would violate any covenant set forth in Section 4.06 hereof or the provisions of the Loan Agreement or the Tax Agreement. The Trustee is hereby authorized, in making or disposing of any investment permitted by this Section 6.01, 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. The Trustee shall not be responsible for any loss on any investment made in accordance herewith. Absent the provision of investment instructions hereunder, the Trustee shall invest such funds in the Prime Cash Obligations Fund Management Institutional Shares under the Federate Dreyfus Fund (#851288) or a money market mutual fund registered under the Investment Company Act of 1940 (including those of an affiliate of the Trustee or for which the Trustee or any of its affiliates provides management advisory or other services) which invests in (i) short-term securities issued or guaranteed by the United States Government, its agencies or instrumentalities and/or (ii) repurchase agreements relating to such securities.

Investment of Moneys in Funds. Subject to Section 4.06 hereof and the provisions Any moneys held as a part of the Tax Agreement, moneys in Construction Fund or the Bond FundFund shall, at the Project Fund and the Rebate Fund may be invested and reinvested in Cash Equivalents. Such investments shall be made by the Trustee, as specifically directed and designated by the Company in a certificate direction of an Authorized Company Representative. Each such certificate , which direction may be oral, but which shall contain a statement that each investment so designated be confirmed in writing, be invested or reinvested by the Trustee in Permitted Investments; provided that moneys held in the Bond Fund which are drawings under the Letter of Credit shall not be invested. Any such direction by an Authorized Company constitutes Representative shall expressly state that the securities to be acquired as a Cash Equivalent and can be made without violation result of any provision hereof or of the Loan Agreement, the Tax Agreement or applicable law. The Trustee shall be entitled to rely on each such certificate or advice and shall incur no liability for making any such investment so designated or for any loss, fee, tax or other charge incurred in selling such investment or for any action taken pursuant to reinvestment by the Trustee will constitute Permitted Investments and comply with this Section that causes 3.5, and with the Bonds to be treated as “arbitrage bonds” within the meaning of Section 148 limitations in Sections 3.03 and 5.04 of the CodeIndenture. No investment instructions shall be given by the Company if the investments to be made pursuant thereto would violate any covenant set forth in Section 4.06 hereof or the provisions of the Loan Agreement or the Tax Agreement. The Trustee If such direction is hereby authorized, in making or disposing of any investment permitted by this Section 6.01, 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. The Trustee shall not be responsible for any loss on any investment made in accordance herewith. Absent the provision of investment instructions hereunderoral, the Trustee shall invest be protected in acting upon such funds direction if the person giving such oral direction represents himself to be an Authorized Company Representative and the Trustee has no reason to believe otherwise. The Company shall not direct the Trustee to make any investments or reinvestments other than those permitted by law. In making any such investments, the Trustee may rely on directions delivered to it pursuant to this Section, and the Trustee shall be relieved of all liability with respect to making such investments in accordance with such directions. Any Permitted Investments may be purchased at the Prime Cash Obligations Fund Institutional Shares under offering or market price thereof at the Federate Fund (#851) time of such purchase and all such investments shall mature in such amounts and at such times, or a money market mutual fund registered under shall be readily marketable prior to their maturities, as the Investment Company Act may direct. The Trustee may make any and all such investments through its own bond department. Any interest accruing on or profit realized from the investment of 1940 (including those of an affiliate any moneys held as part of the Trustee Bond Fund or for the Construction Fund shall be credited to the respective Fund or Account in which such investment is held and any loss resulting from such investment shall be charged to the respective Fund or Account in which such investment is held. For the purposes of this Section, any interest-bearing deposits, including certificates of deposit, issued by or on deposit with the Trustee or any of its affiliates provides management advisory or other services) which invests in (i) short-term securities issued or guaranteed by the United States Government, its agencies or instrumentalities and/or (ii) repurchase agreements relating shall be deemed to such securitiesbe investments and not deposits.

Investment of Moneys in Funds. Subject to Section 4.06 hereof and the provisions All moneys in any of the Tax Agreement, funds established pursuant to this Indenture (except moneys in obtained from a draw on the Bond Fund, the Project Fund and the Rebate Fund may Letter of Credit which shall be uninvested) shall be invested and reinvested in Cash Equivalents. Such investments shall be made by the Trustee, as specifically directed and designated in writing by the Company Company, solely in a certificate of an Authorized Company Representative. Each such certificate shall contain a statement that each investment so designated Investment Securities except with respect to Available Moneys held by the Company constitutes a Cash Equivalent and can Trustee for the payment of Undelivered Bonds, which Available Moneys the Trustee shall not invest. Investment Securities may be made without violation of any provision hereof purchased at such prices as the Trustee may in its discretion determine or as may be directed by the Company. Absent written investment directions from the Company, the Trustee shall invest available fund balances in investments described in subparagraph (ix) of the Loan Agreementdefinition of Investment Securities. To the extent the Bank has not been reimbursed under the Reimbursement Agreement and has notified the Trustee of same in writing, all interest, profits and other income received from the investment of moneys in any fund established pursuant to this Indenture shall be transferred to the Bank in the amount specified by the Bank. Otherwise, such amounts shall be deposited to the appropriate fund or account in which such investments were made. 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, or premium paid, if any paid as part of the purchase price of such Investment Security shall be credited to the fund from which such accrued interest was paid. Investment Securities acquired as an investment of moneys in any fund established under this Indenture shall be credited to such fund. For the purpose of determining the amount in any fund, all Investment Securities credited to such fund shall be valued at the lesser of cost or par value plus, prior to the first payment of interest following purchase, the Tax Agreement or applicable lawamount of accrued interest, if any, paid as a part of the purchase price. The Trustee shall be entitled to rely on each such certificate may act as principal or advice and shall incur no liability for making any such investment so designated or for any loss, fee, tax or other charge incurred agent in selling such investment or for any action taken pursuant to this Section that causes the Bonds to be treated as “arbitrage bonds” within the meaning of Section 148 of the Code. No investment instructions shall be given by the Company if the investments to be made pursuant thereto would violate any covenant set forth in Section 4.06 hereof or the provisions of the Loan Agreement or the Tax Agreement. The Trustee is hereby authorized, in making or disposing of any investment permitted by this Section 6.01, 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 accountinvestment. The Trustee may sell at the best price obtainable, or present for redemption, any Investment Securities so purchased whenever it shall be necessary to provide moneys to meet any required payment, transfer, withdrawal or disbursement from the fund to which such Investment Security is credited, and the Trustee shall not be liable or responsible for any loss on any investment made in accordance herewith. Absent the provision of investment instructions hereunder, the Trustee shall invest resulting from such funds in the Prime Cash Obligations Fund Institutional Shares under the Federate Fund (#851) or a money market mutual fund registered under the Investment Company Act of 1940 (including those of an affiliate of the Trustee or for which the Trustee or any of its affiliates provides management advisory or other services) which invests in (i) short-term securities issued or guaranteed by the United States Government, its agencies or instrumentalities and/or (ii) repurchase agreements relating to such securitiesinvestment.

Investment of Moneys in Funds. Subject Any moneys held as a part of the Bond Fund or Construction Fund shall, at the direction of an Authorized Company Representative, which direction may be oral, but which shall be confirmed in writing, be invested or reinvested by the Trustee in Permitted Investments; provided that moneys held in the Bond Fund which are drawings under the Letter of Credit shall not be invested. Any such direction by an Authorized Company Representative shall expressly state that the securities to be acquired as a result of any such investment or reinvestment by the Trustee will constitute Permitted Investments and comply with this Section 4.06 hereof 3.2, and with the limitations in Section 5.4 and Section 3.5 (if applicable) of the Indenture. If such direction is oral, the Trustee shall be protected in acting upon such direction if the person giving such oral direction represents himself to be an Authorized Company Representative and the provisions Trustee has no reason to believe otherwise. The Company shall not direct the Trustee to make any investments or reinvestments other than those permitted by law. In making any such investments, the Trustee may rely on directions delivered to it pursuant to this Section, and the Trustee shall be relieved of all liability with respect to making such investments in accordance with such directions. Any Permitted Investments may be purchased at the Tax Agreementoffering or market price thereof at the time of such purchase and all such investments shall mature in such amounts and at such times, or shall be readily marketable prior to their maturities, as the Company may direct. The Trustee may make any and all such investments through its own bond department. Any interest accruing on or profit realized from the investment of any moneys in held as part of the Bond Fund, the Project Construction Fund and or the Rebate Fund may be invested and reinvested in Cash Equivalents. Such investments shall be made credited to the respective fund or account in which such investment is held and any loss resulting from such investment shall be charged to the respective fund or account in which such investment is held. For the purposes of this Section, any interest bearing deposits, including certificates of deposit, issued by or on deposit with the Trustee, as specifically directed and designated by the Company in a certificate of an Authorized Company Representative. Each such certificate shall contain a statement that each investment so designated by the Company constitutes a Cash Equivalent and can be made without violation of any provision hereof or of the Loan Agreement, the Tax Agreement or applicable law. The Trustee shall be entitled to rely on each such certificate or advice and shall incur no liability for making any such investment so designated or for any loss, fee, tax or other charge incurred in selling such investment or for any action taken pursuant to this Section that causes the Bonds deemed to be treated as “arbitrage bonds” within the meaning of Section 148 of the Code. No investment instructions shall be given by the Company if the investments to be made pursuant thereto would violate any covenant set forth in Section 4.06 hereof or the provisions of the Loan Agreement or the Tax Agreement. The Trustee is hereby authorized, in making or disposing of any investment permitted by this Section 6.01, 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. The Trustee shall and not be responsible for any loss on any investment made in accordance herewith. Absent the provision of investment instructions hereunder, the Trustee shall invest such funds in the Prime Cash Obligations Fund Institutional Shares under the Federate Fund (#851) or a money market mutual fund registered under the Investment Company Act of 1940 (including those of an affiliate of the Trustee or for which the Trustee or any of its affiliates provides management advisory or other services) which invests in (i) short-term securities issued or guaranteed by the United States Government, its agencies or instrumentalities and/or (ii) repurchase agreements relating to such securitiesdeposits.