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 30.1 (Order of Application) the Trustee may, at its discretion, hold all or part of those proceeds in an interest bearing suspense or impersonal account(s) in the name of the Trustee or the Agent with any financial institution (including itself) and for so long as the Trustee thinks fit (the interest being credited to the relevant account) pending the application from time to time of those monies at the Trustee’s discretion in accordance with the provisions of this Clause 30.

Appears in 3 contracts

Samples: Pre Export Finance Agreement (Votorantim Pulp & Paper Inc), Pre Export Finance Agreement (Votorantim Pulp & Paper Inc), Pre Export Finance Agreement (Votorantim Pulp & Paper Inc)

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Investment of Proceeds. Prior to the application of the proceeds of the Transaction Security in accordance with Clause 30.1 (Order of Application) the Trustee may, at its discretion, hold all or part of those proceeds in an interest bearing suspense or impersonal account(s) in the name of the Trustee or the Agent with any financial institution (including itself) and for so long as the Trustee thinks fit (the interest being credited to the relevant account) pending the application from time to time of those monies at the Trustee’s 's discretion in accordance with the provisions of this Clause 30.

Appears in 2 contracts

Samples: Secured Facilities Agreement (Citigroup Inc), Secured Facilities Agreement (Citigroup Inc)

Investment of Proceeds. Prior to the application of the proceeds of the Transaction Security in accordance with Clause 30.1 33.1 (Order of Application) the Security Trustee may, at its 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 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 in accordance with the provisions of this Clause 3033.

Appears in 2 contracts

Samples: Amendment and Restatement Agreement (Validus Holdings LTD), Amendment and Restatement Agreement (Validus Holdings LTD)

Investment of Proceeds. Prior to the application of the proceeds of the Transaction Security in accordance with Clause 30.1 26.28 (Order of Application) the Security Trustee may, at its 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 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 in accordance with the provisions of this Clause 30Clause.

Appears in 2 contracts

Samples: Committed Multicurrency Revolving Facility Agreement (Marconi Corp PLC), 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 30.1 3.1 (Order of Application) the Trustee may, at its discretion, hold all or part of those proceeds in an interest bearing suspense or impersonal Impersonal account(s) in the name of the Trustee or the Administrative Agent with any such financial institution (including itself) and for so long as the Trustee thinks shall think fit (the interest being credited to the relevant account) pending the application from time to time of those monies at the Trustee’s discretion in accordance with the provisions of this Clause 303.

Appears in 1 contract

Samples: Credit Agreement (Fleetcor Technologies Inc)

Investment of Proceeds. Prior to the application of the proceeds of the Transaction Security in accordance with Clause 30.1 31.1 (Order of Application) the Trustee may, at its discretion, hold all or part of those proceeds in an interest bearing suspense or impersonal account(s) in the name of the Trustee or the Agent with any financial institution (including itself) and for so long as the Trustee thinks fit (the interest being credited to the relevant account) pending the application from time to time of those monies at the Trustee’s 's discretion in accordance with the provisions of this Clause 3031.

Appears in 1 contract

Samples: Amendment Agreement (Citigroup Inc)

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