Common use of Investment of Trust Funds Clause in Contracts

Investment of Trust Funds. Unless otherwise directed in writing by the Board of Managers, proceeds of the Trust Property received by the Trust more than one day prior to a Distribution Date may be invested by the Treasurer at the written direction of the Board of Managers in investments purchased through and held by the Trust as instructed by the Board of Managers, maturing not later than such Distribution Date. In the event that the Treasurer does not receive such direction by the close of business on the day preceding the day on which such proceeds are received by the Treasurer, the Treasurer may invest such proceeds in Designated Investments purchased through and held by the Trust as instructed by the Board of Managers, maturing not later than the next succeeding Distribution Date.

Investment of Trust Funds. Unless otherwise directed in writing by the Board of Managers, proceeds of the Trust Property received by the Trust Owner Trustee more than one day prior to a Distribution Date may be invested by the Treasurer at the written direction of the Board of Managers in investments purchased through and held by the Trust such entity as instructed by the Board of Managers, maturing not later than such Distribution Date. In the event that the Treasurer does not receive such direction by the close of business on the day preceding the day on which such proceeds are received by the Treasurer, the Treasurer may invest such proceeds in Designated Investments purchased through and held by the Trust such entity as instructed by the Board of Managers, maturing not later than the next succeeding Distribution Date.