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. 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 or any other bank hereunder selected by Issuer shall be invested and reinvested by 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 a “government money market account” until such time as Issuer provides alternate instruction under this Section.
Investment of Monies. Monies on deposit in or credited to any Depositary Account shall be invested and reinvested in Cash Equivalents (a) if the maturity of the Bonds has not been accelerated, at the specific written direction (which may be in the form of a standing instruction) of an Authorized Officer of the Issuer to the Depositary Bank and (b) if the maturity of the Bonds has been accelerated, at the written direction of the Collateral Agent; provided, however, that (i) if a the maturity of the Bonds has not been accelerated and an Authorized Officer of the Issuer shall not have timely furnished such a written direction or (ii) if a Default or 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 Cash Equivalents described in clause (i) of the definition of Cash Equivalents 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. Upon the acceleration of the maturity of the Bonds, the Depositary Bank shall, if instructed in writing by the Majority Holders of all Bonds of each Series as to which the Event of Default which gave rise to such acceleration applies, at any time and from time to time liquidate any or all of such investments prior to the maturity thereof as needed to cure the Event of Default which gave rise to such acceleration. In the event any such investments are redeemed prior to the maturity thereof, the Depositary Bank or the Bond Trustee shall not be liable for any loss or penalty relating thereto in the absence of its or the Bond Trustee's 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 Acceptable Credit Support, are equal to the then current Debt Service Reserve Required Balance, and without any further action on the part of the Issuer, (ii) second, into the Revenue Account. Any loss shall be charged to the applicable Depositary Account. The Depositary Bank shall not be liable for any loss, fee, tax or other charge other than by reason of its gross negligence or willful misconduct. ...
Investment of Monies. Subject as aforesaid, the Debenture Trustee shall, until distribution/ payment of monies referred to in sub-clause (b) above, invest the said monies received by them on the trust hereby created in some or one of the investments hereinafter authorised or place the same upon deposit or in current account in the name of the Debenture Trustee with any scheduled bank or banks with power, from time to time, at its discretion, to vary such investments and to resort to any such investments for any of the purposes for which such proceeds are under these presents authorised to be expended and subject as aforesaid the Debenture Trustee shall stand possessed of the said investments upon the trust herein declared to hold the investments and income thereof upon the trust and purposes hereinbefore expressed concerning the monies to arise from any sale, calling in, collection and conversion of the Hypothecated Properties.
Investment of Monies. (a) Amounts deposited in the Accounts, the LOC Provider Funds, the Qualifying Cost Subaccount, the DSR LOC Provider Funds, the Debt Service Reserve Account, the Tax Exempt Debt Service Reserve Account and each other account or fund created hereunder (unless expressly stated otherwise), at the written request and direction of the Partnership, shall be invested by the Disbursement Agent in Permitted Investments (except that monies contained in the Tax Exempt Debt Service Reserve Account or the Qualifying Cost Subaccount shall be invested only in Investment Obligations). Such investments shall mature in such amounts and not later than such times as may be necessary to provide monies when needed to make payments from such monies as provided in this Disbursement Agreement. Net interest or gain received from such investments shall be applied as provided in this Disbursement Agreement. Absent written instructions from the Partnership, the Disbursement Agent shall invest the amounts held in the Accounts, the LOC Provider Funds, the Qualifying Cost Subaccount, the Debt Service Reserve Account, the Tax Exempt Debt Service Reserve Account and the DSR LOC Provider Funds and each other account or fund created hereunder, in Permitted Investments described in clause (i) of such definition.
(b) So long as an outstanding balance shall remain in the Accounts or the LOC Provider Funds or the Qualifying Cost Subaccount or the DSR LOC Provider Funds or the Debt Service Reserve Account or the Tax Exempt Debt Service Reserve Account or any other account or fund created hereunder, the Disbursement Agent shall provide the Partnership and the Independent Engineer with monthly statements showing the amount of all receipts, the net investment income or gain received and collected, all disbursements and the amount then available in each Account and the LOC Provider Funds, the Qualifying Cost Subaccount, the DSR LOC Provider Funds and each other account or fund created hereunder.
(c) The Partnership shall (i) calculate or cause to be calculated the Rebate Amount in respect of monies held in the Qualifying Cost Subaccount, the Tax Exempt Debt Service Reserve Account and the Tax Exempt Bond Debt Service Fund (to the extent required) and shall pay to the federal government at such times as required under the Code an amount equal to the Rebate Amount in respect of monies held in the Qualifying Cost Subaccount, the Tax Exempt Debt Service Reserve Account and the Tax Exempt Debt Service Fund...
Investment of Monies. (a) Monies held in any Account created by and held under this Agreement may be invested and reinvested in Permitted Investments; provided, that such Permitted Investments shall be invested, (i) if no Trigger Event shall have occurred and be continuing, at the specific written direction (which may be in the form of standing instructions) of the Company, subject to and pursuant to Section 3.10(c) below or (ii) if a Trigger Event shall have occurred and be continuing, at the written direction of the Collateral Agent (pursuant to the Collateral Agency and Intercreditor Agreement).
(b) All Permitted Investments shall mature in such amounts and have maturity dates or be subject to redemption at the option of the holder of such investments on or prior to maturity as needed for the purpose of such Accounts, but in no event shall at any time more than 50% of the value of all such Permitted Investments mature more than one (1) year after the date acquired. All Permitted Investments shall remain subject to this Agreement and the security interest granted hereunder.
(c) The Company is permitted to open accounts other than the Accounts for the purpose of making Permitted Investments, provided, that (i) any such accounts (“Investment Accounts”) together with all cash, securities, entitlements, investment property and investments associated with such Investment Accounts, shall be subject (A) to a control agreement reasonably satisfactory to the Collateral Agent in all respects and legally sufficient for the Collateral Agent to maintain “control” of such accounts and such amounts under Article 8 and 9 of the UCC or (B) to a control agreement, or other similar agreement, document, filing or financing charge statement as may be necessary under Canadian law to maintain the Collateral Agent’s floating charge, lien, security interest or other similar interest in such Investment Account and the Collateral Agent’s perfection in or relative priority related to such Investment Account; (ii) prior to the transfer of any monies from an Account to an Investment Account, the Company shall deliver a direction letter and certificate substantially in the form attached hereto as Exhibit A; and (iii) the Company, at its sole cost and expense, shall execute, file, perform under or deliver any additional documents or agreements as requested by the Collateral Agent and reasonably necessary to continue and maintain the Collateral Agent’s security interest in such accounts and amounts and its p...
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. 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.
