Common use of Investment of Moneys Clause in Contracts

Investment of Moneys. (a) Moneys held for the credit of the Bond Fund and the Bond Proceeds Fund shall, upon written direction by the Authorized Company Representative, be invested and reinvested by the Trustee in any one or more of the following obligations or securities (as so directed by the Authorized Company Representative, which directions shall be conclusively relied upon by the Trustee), to the extent permitted by State law, on which neither the Company nor any of its affiliates is the obligor: (i) Government Securities; (ii) time deposits, including overnight deposits, savings accounts and deposit accounts represented by certificates of deposit in national or state banks (which may include the Trustee or its affiliates, any Paying Agent, and the Bond Registrar) having a combined capital and surplus of not less than $10,000,000, or savings and loan associations having total assets of not less than $20,000,000; (iii) bankers' acceptances drawn on and accepted by commercial banks (which may include the Trustee, any Paying Agent, and the Bond Registrar or any of their affiliates) having a combined capital and surplus of not less than $10,000,000; (iv) direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by any State of the United States of America, the District of Columbia or the Commonwealth of Puerto Rico, or any political subdivision of any of the foregoing, which are rated in any of the three highest rating categories by a nationally recognized rating agency; (v) obligations of any agency or instrumentality of the United States of America; (vi) commercial or finance company paper which is rated in any of the three highest rating categories by a nationally recognized rating agency; (vii) corporate debt securities rated in any of the three highest rating categories by a nationally recognized rating agency; (viii) no load, open end, diversified money market mutual funds registered under the Investment Company Act of 1940, as amended, that seek to maintain a stable net asset value equal to $1.00 per unit as an investment objective; (ix) money market mutual funds, including, without limitation, any fund for which the Trustee, or an affiliate of the Trustee serves as an investment advisor, administrator shareholder, servicing agent and/or custodian or subcustodian, notwithstanding that (A) the Trustee or an affiliate of the Trustee charges and collects fees and expenses from such funds for services rendered, (B) the Trustee charges and collects fees and expenses for services rendered pursuant to the Indenture, which fees are separate from the fees received from such funds, and (C) services performed for such funds and pursuant to the Indenture may converge at any time and the Issuer and the Company specifically authorize the Trustee or an affiliate of the Trustee to charge and collect all fees and expenses from such funds for services rendered to such funds, in addition to any fees and expenses the Trustee may charge and collect for services rendered pursuant to this Indenture; (x) guaranteed investment contracts entered into with any financial institution, including the Trustee and any of its affiliates, the long term debt securities of which are rated in any of the three highest rating categories by a nationally recognized rating agency or, with respect to guaranteed investment contracts having a final maturity of not more than one month from the date of acquisition, the short-term debt securities of which are rated in the highest short term rating category by a nationally recognized rating agency; and (xi) repurchase agreements with banking or financial institutions having a combined capital and surplus of not less than $10,000,000 (which may include the Trustee, any Paying Agent and the Bond Registrar or any of their affiliates) with respect to any of the foregoing obligations or securities. In the absence of written direction from the Authorized Company Representative naming the exact market fund to invest in, funds shall remain uninvested until such time as written directions are received. As used above, the reference to rating categories shall mean generic categories which may include numerical or other qualifications of ratings within each such generic rating category such as "+" or "-". Such investments shall have maturity dates, or shall be subject to redemption by the holder at the option of the holder, on or prior to the dates the moneys invested therein will be needed as reflected by a statement of the Authorized Company Representative, which statement must be on file with the Trustee prior to any investment. (b) Obligations so purchased as an investment of moneys in any fund or account shall be deemed at all times a part of such fund or account. Subject to the provisions of Section 7.2 hereof, any profit and income realized from such investments shall be credited to such fund or account and any loss shall be charged to such fund or account. The Trustee shall not be liable or responsible for any loss resulting from any investment made in the manner provided in this Section 7.1.

Investment of Moneys. (a) Moneys held for the credit of the Bond Fund and the Bond Proceeds Fund shall, upon written direction by the Authorized Company Representative, be invested and reinvested by the Trustee in any one or more of the following obligations or securities (as so directed by the Authorized Company Representative, which directions shall be conclusively relied upon by the Trustee), to the extent permitted by State law, on which neither the Company nor any of its affiliates is the obligor: (i) Government Securities; (ii) time deposits, including overnight deposits, savings accounts and deposit accounts represented by certificates of deposit in national or state banks (which may include the Trustee or its affiliates, any Paying Agent, and the Bond Registrar) having a combined capital and surplus of not less than $10,000,000, or savings and loan associations having total assets of not less than $20,000,000; (iii) bankers' acceptances drawn on and accepted by commercial banks (which may include the Trustee, any Paying Agent, and the Bond Registrar or any of their affiliates) having a combined capital and surplus of not less than $10,000,000; (iv) direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by any State state of the United States of America, the District of Columbia or the Commonwealth of Puerto Rico, or any political subdivision of any of the foregoing, which are rated in any of the three highest rating categories by a nationally recognized rating agency; (v) obligations of any agency or instrumentality of the United States of America; (vi) commercial or finance company paper which is rated in any of the three highest rating categories by a nationally recognized rating agency; (vii) corporate debt securities rated in any of the three highest rating categories by a nationally recognized rating agency; (viii) no load, open end, diversified money market mutual funds registered under the Investment Company Act of 1940, as amended, that seek to maintain a stable net asset value equal to $1.00 per unit as an investment objective; (ix) money market mutual funds, including, without limitation, any fund for which the Trustee, or an affiliate of the Trustee serves as an investment advisor, administrator shareholder, servicing agent and/or custodian or subcustodiansub-custodian, notwithstanding that (A) the Trustee or an affiliate of the Trustee charges and collects fees and expenses from such funds for services rendered, (B) the Trustee charges and collects fees and expenses for services rendered pursuant to the Indenture, which fees are separate from the fees received from such funds, and (C) services performed for such funds and pursuant to the Indenture may converge at any time and the Issuer Authority and the Company specifically authorize the Trustee or an affiliate of the Trustee to charge and collect all fees and expenses from such funds for services rendered to such funds, in addition to any fees and expenses the Trustee may charge and collect for services rendered pursuant to this Indenture; (x) guaranteed investment contracts entered into with any financial institution, including the Trustee and any of its affiliates, the long term debt securities of which are rated in any of the three highest rating categories by a nationally recognized rating agency or, with respect to guaranteed investment contracts having a final maturity of not more than one month from the date of acquisition, the short-term debt securities of which are rated in the highest short term rating category by a nationally recognized rating agency; and (xi) repurchase agreements with banking or financial institutions having a combined capital and surplus of not less than $10,000,000 (which may include the Trustee, any Paying Agent and the Bond Registrar or any of their affiliates) with respect to any of the foregoing obligations or securities. In the absence of written direction from the Authorized Company Representative naming the exact market fund to invest in, funds shall remain uninvested until such time as written directions are received. As used above, the reference to rating categories shall mean generic categories which may include numerical or other qualifications of ratings within each such generic rating category such as "+" or "-". Such investments shall have maturity dates, or shall be subject to redemption by the holder at the option of the holder, on or prior to the dates the moneys invested therein will be needed as reflected by a statement of the Authorized Company Representative, which statement must be on file with the Trustee prior to any investment. (b) Obligations so purchased as an investment . Ratings of moneys in any fund or account shall be deemed at all times a part of such fund or account. Subject to the provisions of Section 7.2 hereof, any profit and income realized from such investments shall be credited determined at the time of purchase of such investments and the Trustee shall have no responsibility to monitor the ratings of investments after the initial purchase of such fund or account and any loss shall be charged to such fund or accountinvestments. The Trustee shall not be liable or responsible have no responsibility for determining whether any loss resulting from any investment made in of the manner provided in this Section 7.1foregoing investments is permitted by state law.

Investment of Moneys. (a) Moneys held for the credit of the Bond Fund and the Bond Proceeds Fund shall, upon written direction by the Authorized Company Representative, be invested and reinvested by the Trustee in any one or more of the following obligations or securities (as so directed by the Authorized Company Representative, which directions shall be conclusively relied upon by the Trustee), to the extent permitted by State law, on which neither the Company nor any of its affiliates subsidiaries is the obligor: (i) Government Securities; (ii) time deposits, including overnight deposits, savings accounts and interest bearing deposit accounts (which may be represented by certificates of deposit deposit) in national or state banks (which may include the Trustee or its affiliatesTrustee, any Paying Agent, and the Bond Registrar) having a combined capital and surplus of not less than $10,000,000, or savings and loan associations having total assets of not less than $20,000,00040,000,000; (iii) bankers' acceptances drawn on and accepted by commercial banks (which may include the Trustee, any Paying Agent, and the Bond Registrar or any of their affiliatesRegistrar) having a combined capital and surplus of not less than $10,000,000; (iv) direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by by, any State of the United States of America, the District of Columbia or the Commonwealth of Puerto Rico, or any political subdivision of any of the foregoing, which are rated in any of the three highest rating categories by a nationally recognized rating agency; (v) obligations of any agency or instrumentality of the United States of America; (vi) commercial or finance company paper which is rated in any of the three highest rating categories by a nationally recognized rating agency; (vii) corporate debt securities rated in any of the three highest rating categories by a nationally recognized rating agency; and (viii) no load, open end, diversified money market mutual funds registered under the Investment Company Act of 1940, as amended, that seek to maintain a stable net asset value equal to $1.00 per unit as an investment objective; (ix) money market mutual funds, including, without limitation, any fund for which the Trustee, or an affiliate of the Trustee serves as an investment advisor, administrator shareholder, servicing agent and/or custodian or subcustodian, notwithstanding that (A) the Trustee or an affiliate of the Trustee charges and collects fees and expenses from such funds for services rendered, (B) the Trustee charges and collects fees and expenses for services rendered pursuant to the Indenture, which fees are separate from the fees received from such funds, and (C) services performed for such funds and pursuant to the Indenture may converge at any time and the Issuer and the Company specifically authorize the Trustee or an affiliate of the Trustee to charge and collect all fees and expenses from such funds for services rendered to such funds, in addition to any fees and expenses the Trustee may charge and collect for services rendered pursuant to this Indenture; (x) guaranteed investment contracts entered into with any financial institution, including the Trustee and any of its affiliates, the long term debt securities of which are rated in any of the three highest rating categories by a nationally recognized rating agency or, with respect to guaranteed investment contracts having a final maturity of not more than one month from the date of acquisition, the short-term debt securities of which are rated in the highest short term rating category by a nationally recognized rating agency; and (xi) repurchase agreements with banking or financial institutions having a combined capital and surplus of not less than $10,000,000 (which may include the Trustee, any Paying Agent Agent, and the Bond Registrar or any of their affiliatesRegistrar) with respect to any of the foregoing obligations or securities. In the absence of written direction from the Authorized Company Representative naming the exact market fund to invest in, funds shall remain uninvested until such time as written directions are received. As used above, the reference to rating categories shall mean generic categories which may include numerical or other qualifications of ratings within each such generic rating category such as "+" or "-". Such investments shall have maturity dates, or shall be subject to redemption by the holder at the option of the holder, on or prior to the dates the moneys invested therein will be needed as reflected by a statement of the Authorized Company Representative, which statement must be on file with the Trustee prior to any investment. (b) Obligations so purchased as an investment of moneys in any fund or account shall be deemed at all times a part of such fund or account. Subject to the provisions of Section 7.2 hereof, any Any profit and income realized from such investments shall be credited to such fund or account and any loss shall be charged to such fund or account. The Trustee shall not be liable or responsible for any loss resulting from any investment made in the manner provided in this Section 7.1.

Investment of Moneys. (a) Moneys held for the credit of the Bond Fund and the Bond Proceeds Fund shall, upon written direction by the Authorized Company Representative, be invested and reinvested by the Trustee in any one or more of the following obligations or securities (as so directed by the Authorized Company Representative, which directions shall be conclusively relied upon by the Trustee), to the extent permitted by State law, on which neither the Company nor any of its affiliates is the obligor: (i) Government Securities; (ii) time deposits, including overnight deposits, savings accounts and deposit accounts represented by certificates of deposit in national or state banks (which may include the Trustee or its affiliates, any Paying Agent, and the Bond Registrar) having a combined capital and surplus of not less than $10,000,000, or savings and loan associations having total assets of not less than $20,000,000; (iii) bankers' acceptances drawn on and accepted by commercial banks (which may include the Trustee, any Paying Agent, and the Bond Registrar or any of their affiliates) having a combined capital and surplus of not less than $10,000,000; (iv) direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by any State state of the United States of America, the District of Columbia or the Commonwealth of Puerto Rico, or any political subdivision of any of the foregoing, which are rated in any of the three highest rating categories by a nationally recognized rating agency; (v) obligations of any agency or instrumentality of the United States of America; (vi) commercial or finance company paper which is rated in any of the three highest rating categories by a nationally recognized rating agency; (vii) corporate debt securities rated in any of the three highest rating categories by a nationally recognized rating agency; (viii) no load, open end, diversified money market mutual funds registered under the Investment Company Act of 1940, as amended, that seek to maintain a stable net asset value equal to $1.00 per unit as an investment objective; (ix) money market mutual funds, including, without limitation, any fund for which the Trustee, or an affiliate of the Trustee serves as an investment advisor, administrator shareholder, servicing agent and/or custodian or subcustodiansub-custodian, notwithstanding that (A) the Trustee or an affiliate of the Trustee charges and collects fees and expenses from such funds for services rendered, (B) the Trustee charges and collects fees and expenses for services rendered pursuant to the Indenture, which fees are separate from the fees received from such funds, and (C) services performed for such funds and pursuant to the Indenture may converge at any time and the Issuer Authority and the Company specifically authorize the Trustee or an affiliate of the Trustee to charge and collect all fees and expenses from such funds for services rendered to such funds, in addition to any fees and expenses the Trustee may charge and collect for services rendered pursuant to this Indenture; (x) guaranteed investment contracts entered into with any financial institution, including the Trustee and any of its affiliates, the long term debt securities of which are rated in any of the three highest rating categories by a nationally recognized rating agency or, with respect to guaranteed investment contracts having a final maturity of not more than one month from the date of acquisition, the short-term debt securities of which are rated in the highest short term rating category by a nationally recognized rating agency; and (xi) repurchase agreements with banking or financial institutions having a combined capital and surplus of not less than $10,000,000 (which may include the Trustee, any Paying Agent and the Bond Registrar or any of their affiliates) with respect to any of the foregoing obligations or securities. In the absence of written direction from the Authorized Company Representative naming the exact market fund to invest in, funds shall remain uninvested until such time as written directions are received. As used above, the reference to rating categories shall mean generic categories which may include numerical or other qualifications of ratings within each such generic rating category such as "+" or "-". Such investments shall have maturity dates, or shall be subject to redemption by the holder at the option of the holder, on or prior to the dates the moneys invested therein will be needed as reflected by a statement of the Authorized Company Representative, which statement must be on file with the Trustee prior to any investment. Ratings of investments shall be determined at the time of purchase of such investments and the Trustee shall have no responsibility to monitor the ratings of investments after the initial purchase of such investments. The Trustee shall have no responsibility for determining whether any of the foregoing investments is permitted by state law. (b) Obligations so purchased as an investment of moneys in any fund or account shall be deemed at all times a part of such fund or account. Subject to the provisions of Section 7.2 hereof, any profit and income realized from such investments shall be credited to such fund or account and any loss shall be charged to such fund or account. The Trustee shall not be liable or responsible for any loss resulting from any investment made in the manner provided in this Section 7.1. The Company acknowledges that to the extent that regulations of the Comptroller of the Currency or other applicable regulatory agency grant the Company the right to receive brokerage confirmations of the security transactions as they occur, to the extent permitted by law, the Company specifically waives compliance with 12 C.F.R. 12 and hereby notifies the Trustee hereunder, that no brokerage confirmations need be sent relating to the security transactions as they occur.

Investment of Moneys. (a) Moneys held for the credit of the Bond Fund and the Bond Proceeds Refunding Fund shall, upon written direction by the Authorized Company Representative, be invested and reinvested by the Trustee in any one or more of the following obligations or securities (as so directed by the Authorized Company Representative, which directions shall be conclusively relied upon by the Trustee), to the extent permitted by State law, on which neither the Company nor any of its affiliates is the obligor: (i) Government Securities; (ii) time deposits, including overnight deposits, savings accounts and deposit accounts represented by certificates of deposit in national or state banks (which may include the Trustee or its affiliates, any Paying Agent, and the Bond Registrar) having a combined capital and surplus of not less than $10,000,000, or savings and loan associations having total assets of not less than $20,000,000; (iii) bankers' ’ acceptances drawn on and accepted by commercial banks (which may include the Trustee, any Paying Agent, and the Bond Registrar or any of their affiliates) having a combined capital and surplus of not less than $10,000,000; (iv) direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by any State of the United States of America, the District of Columbia or the Commonwealth of Puerto Rico, or any political subdivision of any of the foregoing, which are rated in any of the three highest rating categories by a nationally recognized rating agency; (v) obligations of any agency or instrumentality of the United States of America; (vi) commercial or finance company paper which is rated in any of the three highest rating categories by a nationally recognized rating agency; (vii) corporate debt securities rated in any of the three highest rating categories by a nationally recognized rating agency; (viii) no load, open end, diversified money market mutual funds registered under the Investment Company Act of 1940, as amended, that seek to maintain a stable net asset value equal to $1.00 per unit as an investment objective; (ix) money market mutual funds, including, without limitation, any fund for which the Trustee, or an affiliate of the Trustee serves as an investment advisor, administrator shareholder, servicing agent and/or custodian or subcustodian, notwithstanding that (A) the Trustee or an affiliate of the Trustee charges and collects fees and expenses from such funds for services rendered, (B) the Trustee charges and collects fees and expenses for services rendered pursuant to the Indenture, which fees are separate from the fees received from such funds, and (C) services performed for such funds and pursuant to the Indenture may converge at any time and the Issuer and the Company specifically authorize the Trustee or an affiliate of the Trustee to charge and collect all fees and expenses from such funds for services rendered to such funds, in addition to any fees and expenses the Trustee may charge and collect for services rendered pursuant to this Indenture; (x) guaranteed investment contracts entered into with any financial institution, including the Trustee and any of its affiliates, the long term debt securities of which are rated in any of the three highest rating categories by a nationally recognized rating agency or, with respect to guaranteed investment contracts having a final maturity of not more than one month from the date of acquisition, the short-term debt securities of which are rated in the highest short term rating category by a nationally recognized rating agency; and (xi) repurchase agreements with banking or financial institutions having a combined capital and surplus of not less than $10,000,000 (which may include the Trustee, any Paying Agent and the Bond Registrar or any of their affiliates) with respect to any of the foregoing obligations or securities. In the absence of event that the Company fails to provide written direction from to the Authorized Company Representative naming Trustee, the exact market fund to Trustee shall invest in, such funds shall remain uninvested until such time as written directions are receivedin investments described in (ix) above. As used above, the reference to rating categories shall mean generic categories which may include numerical or other qualifications of ratings within each such generic rating category such as "“+" ” or "“-"”. Such investments shall have maturity dates, or shall be subject to redemption by the holder at the option of the holder, on or prior to the dates the moneys invested therein will be needed as reflected by a statement of the Authorized Company Representative, which statement must be on file with the Trustee prior to any investment. (b) Moneys held for the credit of any other fund or account, including, without limitation, the Bond Fund, shall to the extent practicable be invested and reinvested in Government Securities which will mature, or which will be subject to redemption at the option of the holder, not later than the date or dates on which the money held for credit of the particular fund shall be required for the purposes intended. The Trustee shall so invest and reinvest pursuant to instructions from the Authorized Company Representative. (c) Obligations so purchased as an investment of moneys in any fund or account shall be deemed at all times a part of such fund or account. Subject to the provisions of Section 7.2 hereof, any profit and income realized from such investments shall be credited to such fund or account and any loss shall be charged to such fund or account. The Trustee shall not be liable or responsible for any loss resulting from any investment made in the manner provided in this Section 7.1.