Investment of Net Proceeds. The Net Proceeds deposited with the Trustee hereunder, pending any release or application thereof as required in accordance with the provisions of this Article, shall be invested by the Trustee in its name in Permitted Investments in accordance with any written directions of the Corporation from time to time given to the Trustee or, in the absence of any such directions, shall be invested by the Trustee in its name in accordance with Section 10.04.
Investment of Net Proceeds. Any Net Proceeds of insurance payments or condemnation awards held by the Borrowers pending restoration, repair or rebuilding shall be invested by the Borrowers in any investments then permitted for Borrowers’ money. Any earnings or profits on such investments shall be considered part of the Net Proceeds.
Investment of Net Proceeds. Any Net Proceeds of insurance payments or condemnation awards held by the Trustee pending restoration, repair or rebuilding shall be invested in Investment Obligations in the same manner as provided in Section 6.1 of the Indenture. Any earnings or profits on such investments shall be considered part of the Net Proceeds.
Investment of Net Proceeds. All Net Proceeds shall be deposited with a bank or other financial institution reasonably designated by Lessor (the "Depository"). Lessee may direct the investment of the amounts so deposited with the Depository pursuant to this paragraph 12(f) in the following manner:
Investment of Net Proceeds. Any Net Proceeds held pending repair, restoration or relocation shall be invested at the written direction of the Company solely in obligations of a state, territory or a possession of the United States or any political subdivision of the foregoing, the interest on which is exempt from federal income taxation under Section 103(a) of the Code. Any earnings or profits on such investments shall be considered part of the Net Proceeds.
Investment of Net Proceeds. As and inducement for the Investors to enter into this Amendment, the Company agrees and covenants to invest the net proceeds from the transactions contemplated by the Stock Purchase Agreement in "whole-pool agency certificates" within two business days of the Closing. For purposes of this Amendment, "whole-pool agency certificate" means any certificate issued or guaranteed by the Government National Mortgage Association, Federal National Mortgage Association or Federal Home Loan Mortgage Corporation that represents the entire beneficial interest in the underlying pool of mortgage loans.
