Investment of Special Payment Moneys. Any money received by the Certificate Trustee pursuant to Section 4.01(a) representing a Special Payment that is not to be promptly distributed, to the extent practicable, shall be deposited in the proper Certificate Account (also constituting a securities account) and invested in Eligible Investments at the written direction of the Servicer for the Bonds for which such Special Payment has been made by the Certificate Trustee pending distribution of such Special Payment pursuant to Section 4.02. Any investment made pursuant to this Section 4.04 shall be in such Eligible Investment maturing in not more than 60 days or such lesser time as is required for the distribution of any such funds on a Special Distribution Date pending the distribution of such funds to Certificateholders as described herein. The Certificate Trustee shall hold any such Eligible Investments until maturity. The Certificate Trustee shall have no liability with respect to any investment made pursuant to this Section 4.04 (including any losses on such investments), other than by reason of the willful misconduct or negligence of the Certificate Trustee. All income and earnings from such investments shall be distributed, if and as received, on such Special Distribution Date as part of such Special Payment and shall be treated as payments of interest on the Certificates.
Appears in 3 contracts
Samples: Certificate Indenture (FirstEnergy Ohio PIRB Special Purpose Trust 2013), Certificate Indenture (OE Funding LLC), Certificate Indenture (OE Funding LLC)
Investment of Special Payment Moneys. Any money received by ------------------------------------ the Certificate Trustee pursuant to Section 4.01(a) representing a Special Payment (or Swap Revenue) that is not to be promptly distributed, to the extent practicable, shall be deposited in the proper Certificate Account (also constituting a securities account) and invested in Eligible Investments at the written direction of the Servicer for the Bonds for which such Special Payment has been made by the Certificate Trustee pending distribution of such Special Payment pursuant to Section 4.02. Any investment made pursuant to this Section 4.04 shall be in such Eligible Investment Investments maturing in not more than 60 days or such lesser time as is required for the distribution of any such funds on a Special Distribution Payment Date pending the distribution of such funds to Certificateholders as described herein. The Certificate Trustee shall hold any such Eligible Investments until maturity. The Certificate Trustee shall have no liability with respect to any investment made pursuant to this Section 4.04 (including any losses on such investments), other than by reason of the willful misconduct or negligence of the Certificate Trustee. All income and earnings from such investments shall be distributed, if and as received, distributed on such Special Distribution Date as part of such Special Payment and shall be treated as payments of interest on the Certificates.
Appears in 3 contracts
Samples: Declaration and Agreement of Trust (Sdg&e Funding LLC a De Limited Liability Co), Declaration and Agreement of Trust (Pg&e Funding LLC), Declaration and Agreement of Trust (Sce Funding LLC)
Investment of Special Payment Moneys. Any money received by ------------------------------------ the Certificate Trustee pursuant to Section 4.01(a) representing a Special Payment that (or Swap Revenue) which is not to be promptly distributed, to the extent practicable, shall be deposited in the proper Certificate Account (also constituting a securities account) and invested in Eligible Investments at the written direction of the Servicer for the Bonds for which such Special Payment has been made by the Certificate Trustee pending distribution of such Special Payment pursuant to Section 4.02. Any investment made pursuant to this Section 4.04 shall be in such Eligible Investment Investments maturing in not more than 60 days or such lesser time as is required for the distribution of any such funds on a Special Distribution Payment Date pending the distribution of such funds to Certificateholders as described herein. The Certificate Trustee shall hold any such Eligible Investments until maturity. The Certificate Trustee shall have no liability with respect to any investment made pursuant to this Section 4.04 (including any losses on such investments), other than by reason of the willful misconduct or negligence of the Certificate Trustee. All income and earnings from such investments shall be distributed, if and as received, distributed on such Special Distribution Payment Date as part of such Special Payment and shall be treated as payments of interest on the Certificates.
Appears in 3 contracts
Samples: Trust Agreement (Pg&e Funding LLC), Trust Agreement (Sce Funding LLC), Declaration and Agreement of Trust (Sdg&e Funding LLC a De Limited Liability Co)