Investment of Monies. Money in the Water Project Fund, representing proceeds of this Agreement, held and administered by the Finance Authority, may be invested by the Finance Authority for the credit of the Water Project Fund.
Investment of Monies. Monies on deposit in or credited to any Account shall be invested and reinvested in Permitted Investments (a) if no Event of Default shall have occurred and be continuing, at the specific written direction (which may be in the form of a standing instruction) of an Authorized Officer of CE Generation and (b) if an Event of Default shall have occurred and be continuing, at the written direction of the Collateral Agent; provided, however, that (i) if an Event of Default shall not have occurred and be continuing and an Authorized Officer of CE Generation shall not have timely furnished such a written direction or (ii) if an Event of Default shall have occurred and be continuing and the Collateral Agent shall not have timely furnished such a written direction, the Depositary Bank shall invest such Monies only in Permitted Investments described in clause (i) of the definition of Permitted Investments with a maturity of thirty (30) days or less. Such investments shall mature in such amounts and have maturity dates, or be subject to redemption or capable of being sold or otherwise liquidated at the option of the holder thereof, on or prior to maturity as needed for the purposes described herein, but in no event shall such investments mature more than one (1) year after the date acquired. The Depositary Bank shall at any time and from time to time liquidate any or all of such investments prior to the maturity thereof as needed in order to effect the transfers and withdrawals contemplated by this Agreement in accordance with an Officer's Certificate of CE Generation; provided that, in the absence of timely receipt of such an Officer's Certificate, the Depositary Bank shall liquidate any or all of such investments as so needed. In the event any such invest ments are redeemed prior to the maturity thereof, the Depositary Bank shall not be liable for any loss or penalty relating thereto in the absence of its gross negligence or willful misconduct. Any income or gain realized from such investments shall be deposited (i) first, into the Debt Service Reserve Account until the Monies on deposit therein or credited thereto, together with the amount available for drawing under any Debt Service Reserve Letter of Credit, are equal to the then current Debt Service Reserve Requirement, and (ii) second, if the Monies on deposit in or credited to the Debt Service Reserve Account, together with the amount available for drawing under any Debt Service Reserve Letter of Credit, equal ...
Investment of Monies. All monies that the Trustee may invest pursuant to This Deed shall be invested by the Trustee in bank deposits at one of the five major banks in Israel or in investments in securities of the State of Israel, all being subject to the conditions of This Trust Deed.
Investment of Monies. If the amount of the monies at any time available for payment of principal and interest in respect of the Notes under Clause 9.1 (Application of monies) shall be less than a sum sufficient to pay at least one-tenth of the principal amount of the Notes then outstanding, the Trustee may, at its discretion, invest such monies in one or more of the investments authorised herein with power from time to time, with like discretion, to vary such investments; and such investment(s) with the resulting income thereof may be accumulated until the accumulations together with any other funds for the time being under the control of the Trustee and available for the purpose shall amount to a sum sufficient to pay at least one-tenth of the principal amount of the Notes then outstanding and such accumulation and funds (after deduction of any taxes and any other deductibles applicable thereto) shall then be applied in the manner aforesaid.
Investment of Monies. Monies held for the credit of any fund or account established under this Indenture and held by Trustee shall be invested and reinvested by Trustee upon direction of Issuer in Investment Securities. Monies held for the credit of any fund or account established under this Indenture and held by Trustee shall be invested and reinvested by the Trustee at the written direction of the Issuer in such manner as is permitted by the investment policies and procedures of Issuer. All such investments shall mature, or be subject to redemption by the holder thereof 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. For all purposes hereunder, Issuer hereby instructs Trustee to invest all monies held by it pursuant to this Indenture in the U.S. Bank Money Market Account as described on Exhibit F until such time as Issuer provides alternate instruction under this Section.
Investment of Monies. Held in the Investment Account and the Cash Collateral Account. In the event that Trustee has not received written directions from Servicer, Trustee shall invest any cash amounts in the Investment Account and the Cash Collateral Account in investments specified in clause (a) of the definition of Eligible Investments. Trustee shall provide to Servicer and Bond Insurer monthly written confirmation of such investments, describing the Eligible Investments in which such amounts have been invested. Any funds in the Investment Account, the Class A Certificate Account and the Cash Collateral Account not so invested must be insured by the Federal Deposit Insurance Corporation to the limits established by such corporation.
Investment of Monies. Pending the disbursement thereof pursuant to the terms of this Agreement, all monies included in the Collateral Account shall (to the extent it is practical to do so) be invested by the Administrative Agent in Cash Equivalents (or, after the First Lien Termination Date, Temporary Cash Investments). The Administrative Agent shall not be responsible for any diminution in funds resulting from such investments or any liquidation prior to maturity.
Investment of Monies. Monies received by the Trustee or the Manager -------------------- hereunder need not be segregated in any manner except to the extent required by law. Pending distribution of any cash received by the Trust, the Trustee or the Manager shall be prohibited from investing such cash other than in demand or time deposits in one or more financial institutions having a net worth of at least $500 million each, the U.S. Government portfolio of the Xxxxxx Square Fund, a money market mutual fund managed by an Affiliate of the Trustee, commercial paper of one or more corporations having a credit rating of at xxxxx "X," Xxxxxx Xxxxxx treasury obligations or short-term certificates of deposit, each having a maturity date on or before the next Quarterly Distribution Date, except in the case of the Reserve, as to which a term of three months or less is permissible. The Trustee and the Manager shall hold all such investments to the maturity thereof. Neither the Manager nor the Trustee shall be liable for any loss or depreciation resulting from the investment of such cash in accordance with the provisions hereof.
Investment of Monies. (a) Monies held in the Project Fund established pursuant to Section 4.01 hereof shall be invested and reinvested by the Purchaser in Authorized Investments in compliance with the Tax Compliance Agreement. In making any such investment the Purchaser may rely conclusively on the written directions of the Institution delivered to it pursuant to this Section 4.06 and the Purchaser shall be relieved of all liability with respect to the making of such investments in accordance with such directions. Such investments shall mature in such amounts and have maturity dates or be subject to redemption at the option of the holder thereof on or prior to the date on which the amounts invested therein will be needed for the purposes of the Project Fund. The Purchaser may at any time sell or otherwise reduce to cash a sufficient amount of such investments whenever the cash balance in the Project Fund is insufficient in the sole reasonable judgment of the Purchaser for the purposes thereof. Any such investments shall be held by or under control of the Purchaser and shall be deemed at all times a part of the Project Fund, and the interest accruing thereon and any profit realized from such investments shall be credited to and held in and any loss shall be charged to the Project Fund.
(b) The Purchaser shall not be liable for any depreciation in the value of any investment made pursuant to this Section 4.06 or for any loss arising from any such investment.
Investment of Monies. If, upon enforcement of the Security, the amount of the monies at any time available for payment of principal and interest in respect of the Notes of any Series under Clause 12.1 (Application of Monies) shall be less than a sum sufficient to pay at least one-tenth of the Principal Amount Outstanding of the Notes of such Series then outstanding, the Note Trustee may, at its discretion, subject in the case of the Issuer NTD Jersey Secured Property to the Jersey Security Interests Law, invest such monies upon some or one of the investments hereinafter authorised with power from time to time, with like discretion, to vary such investments; and such investment with the resulting income thereof may be accumulated until the accumulations together with any other funds for the time being under the control of the Note Trustee and available for the purpose shall amount to a sum sufficient to pay at least one-tenth of the Principal Amount Outstanding of the Notes of such Series then outstanding and such accumulation and funds (after deduction of any taxes and any other deductibles applicable thereto) shall then be applied in accordance with the order of priority contained in Condition 4 (Application of Proceeds Upon Enforcement).
