Common use of Investment of Proceeds Clause in Contracts

Investment of Proceeds. Prior to the application of the proceeds of the Transaction Security in accordance with Clause 32.1 (Order of Application) the Security Trustee may, at its (or their) discretion, hold all or part of those proceeds in an interest bearing suspense or impersonal account(s) in the name of the Security Trustee or the Agent with any financial institution (including itself) and for so long as the Security Trustee think(s) fit (the interest being credited to the relevant account) pending the application from time to time of those monies at the discretion of the Security Trustee in accordance with the provisions of this Clause 32.

Appears in 4 contracts

Samples: Facility Agreement (InterXion Holding N.V.), Facility Agreement (InterXion Holding N.V.), Facility Agreement (InterXion Holding N.V.)

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Investment of Proceeds. Prior to the application of the proceeds of the Transaction Security in accordance with Clause 32.1 40.1 (Order of Application) the Security Trustee may, at its (or their) discretion, hold all or part of those proceeds in an interest bearing suspense or impersonal account(s) in the name of the Security Trustee or of the Agent with any such financial institution (including itself) and for so long as the Security Trustee think(s) shall think fit (the interest being credited to the relevant account) pending the application from time to time of those monies at the Security Trustee’s discretion of the Security Trustee in accordance with the provisions of this Clause 3240.2.

Appears in 2 contracts

Samples: Borrowing Base Facility Agreement (MIE Holdings Corp), Shares Purchase Agreement (MIE Holdings Corp)

Investment of Proceeds. Prior to the application of the proceeds of the Transaction Security in accordance with Clause 32.1 29.1 (Order of Application) the Security Trustee may, at its (or their) discretion, hold all or part of those proceeds in an interest bearing suspense or impersonal account(s) in the name of the Security Trustee or the Agent with any financial institution (including itself) and for so long as the Security Trustee think(s) thinks fit (the interest being credited to the relevant account) pending the application from time to time of those monies at the Security Trustee’s discretion of the Security Trustee in accordance with the provisions of this Clause 3229.

Appears in 2 contracts

Samples: £110,000,000 Standby Letter of Credit Facility Agreement (Montpelier Re Holdings LTD), Standby Letter of Credit Facility Agreement (Montpelier Re Holdings LTD)

Investment of Proceeds. Prior to the application of the proceeds of the Transaction Security in accordance with Clause 32.1 35.1 (Order of Application) the Security Trustee may, at its (or their) discretion, hold all or part of those proceeds in an interest bearing suspense or impersonal account(s) in the name of the Security Trustee or the Facility Agent with any such financial institution (including itself) and for so long as the Security Trustee think(s) thinks fit (the interest being credited to the relevant account) pending the application from time to time of those monies at the Security Trustee’s discretion of the Security Trustee in accordance with the provisions of this Clause 3235.

Appears in 1 contract

Samples: Facility Agreement (Yell Finance Bv)

Investment of Proceeds. Prior to the application of the proceeds of the Transaction Security in accordance with Clause 32.1 42.1 (Order of Application) the Security Trustee may, at its (or their) discretion, hold all or part of those proceeds in an interest bearing suspense or impersonal account(s) in the name of the Security Trustee or of the Agent with any such financial institution (including itself) and for so long as the Security Trustee think(s) shall think fit (the interest being credited to the relevant account) pending the application from time to time of those monies at the Security Trustee’s discretion of the Security Trustee in accordance with the provisions of this Clause 3242.2.

Appears in 1 contract

Samples: Facility Agreement (Ivanhoe Energy Inc)

Investment of Proceeds. Prior to the application of the proceeds of the Transaction Security in accordance with Clause 32.1 27.28 (Order of Application) the Security Trustee may, at its (or their) discretion, hold all or part of those proceeds in an interest bearing suspense or impersonal account(s) in the name of the Security Trustee or the Agent with any such financial institution (including itself) and for so long as the Security Trustee think(s) thinks fit (the interest being credited to the relevant account) pending the application from time to time of those monies at the Security Trustee's discretion of the Security Trustee in accordance with the provisions of this Clause 32Clause.

Appears in 1 contract

Samples: Committed Multicurrency Revolving Facility Agreement (Marconi Corp PLC)

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Investment of Proceeds. Prior to the application of the proceeds of the Transaction Security in accordance with Clause 32.1 (Order of Application) the Security Trustee may, at its (or their) discretion, hold all or part of those proceeds in an interest bearing suspense or impersonal account(s) in the name of the Security Trustee or the Agent with any financial institution (including itself) and for so long as the Security Trustee think(s) thinks fit (the interest being credited to the relevant account) pending the application from time to time of those monies at the Security Trustee's discretion of the Security Trustee in accordance with the provisions of this Clause 32.

Appears in 1 contract

Samples: Standby Letter of Credit Facility Agreement (Validus Holdings LTD)

Investment of Proceeds. Prior to the application of the proceeds of the Transaction Security in accordance with Clause 32.1 34.1 (Order of Application) the Security Trustee may, at its (or their) discretion, hold all or part of those proceeds in an interest bearing suspense or impersonal account(s) in the name of the Security Trustee or the Agent with any financial institution (including itself) and for so long as the Security Trustee think(s) thinks fit (the interest being credited to the relevant account) pending the application from time to time of those monies at the Security Trustee's discretion of the Security Trustee in accordance with the provisions of this Clause 3234.

Appears in 1 contract

Samples: Secured Facilities Agreement (Solutia Inc)

Investment of Proceeds. Prior to the application of the proceeds of the Transaction Security in accordance with Clause 32.1 33.1 (Order of Application) the Security Trustee may, at its (or their) discretion, hold all or part of those proceeds in an interest bearing suspense or impersonal account(s) in the name of the Security Trustee or the Agent with any financial institution (including itself) and for so long as the Security Trustee think(s) thinks fit (the interest being credited to the relevant account) pending the application from time to time of those monies at the Security Trustee's discretion of the Security Trustee in accordance with the provisions of this Clause 3233.

Appears in 1 contract

Samples: Amendment and Restatement Agreement (Validus Holdings LTD)

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