Investment of Special Payment Money. Any money received by the Pass Through Trustee pursuant to Section 4.1(b) representing a Special Payment which is not to be promptly distributed shall, to the extent practicable, be invested in Permitted Investments by the Pass Through Trustee pending distribution of such Special Payment pursuant to Section 4.2. Any investment made pursuant to this Section 4.4 shall be in such Permitted Investments having maturities not later than the date that such moneys are required to be used to make the payment required under Section 4.2 on the applicable Special Distribution Date and the Pass Through Trustee shall hold any such Permitted Investments until maturity. The Pass Through Trustee shall have no liability with respect to any investment made pursuant to this Section 4.4, other than by reason of the willful misconduct or gross negligence of the Pass Through Trustee. All income and earnings from such investments shall be distributed to the Certificateholders on such Special Distribution Date as part of such Special Payment.
Appears in 5 contracts
Samples: Through Trust Agreement (Union Tank Car Co), Through Trust Agreement (Union Tank Car Co), Union Tank Car Co
