Investment or Deposit of Funds. The Trustee shall, at the written request and direction of the Company, invest moneys held in the Rebate Fund established under this Indenture in Governmental Obligations; provided that all Governmental Obligations shall mature not later than the date when the amounts will foreseeably be needed for purposes of this Indenture. At the specific written direction of the Company, the Trustee shall invest moneys held in the Bond Fund (except moneys in the Credit Facility Account) in (i) Governmental Obligations and/or (ii) money market fund shares issued by a money market fund rated “AAAm” or “AAAm-G” or better by S&P (“Money Market Funds”), notwithstanding that (a) the Trustee or its Affiliates charges and collects fees and expenses from such funds for services rendered, (b) the Trustee charges and collects fees and expenses for services rendered pursuant to this Indenture, and (c) services performed for such funds and pursuant to this Indenture may converge at any time. The Trustee and its Affiliates are expressly authorized to charge and collect all fees and expenses from such funds for services rendered to such funds in addition to any fees and expenses the Trustee may charge and collect for services rendered pursuant to this Indenture. Any such investments shall mature on or before the date or dates when the payments in respect of principal of or interest on the Bonds for which such moneys are held are to become due. In the absence of such written direction, the Trustee shall have no duty to invest such moneys except as provided in Section 8.03. Moneys held in the Credit Facility Account shall not be invested and the Trustee shall not be liable for the payment of interest thereon. Any such investments shall be held by or under the control of the Trustee and shall be deemed at all times a part of the Bond Fund. Any investment made in accordance with this Indenture may be (i) executed by the Trustee or the Company with or through the Trustee or its Affiliates, and (ii) made in securities of any entities for which the Trustee or any of its Affiliates serves as distributor, advisor or other service provider. The interest and income received upon investment of the Rebate Fund and any profit or loss resulting from the sale of any investment shall be added or charged to such Fund. In the case of all Revenues representing moneys held in the Bond Fund such interest or income received or paid shall be held in the Bond Fund with a corresponding credit against the Comp...
Investment or Deposit of Funds. Moneys on deposit in the Funds established pursuant to Article IV shall be invested and reinvested by the Trustee as follows:
Investment or Deposit of Funds. The Trustee shall, at the request of the Authority, as directed by the Company (or in the absence of such request, on its own initiative), invest moneys held in the Construction Fund or any other fund other than the Bond Fund in Investment Securities maturing, or being subject to redemption by the Trustee without penalty, at the time when the funds will foreseeably be needed for the purposes of this Indenture. Absent specific instructions as aforesaid, all investments shall be subject to the discretion and judgment of the Trustee, subject, however, to the limitations contained herein, and subject however to the limitations contained in Section 9.15 hereof. Moneys in any of the Funds, other than the Bond Fund, established pursuant to the Indenture or Sublease when held by the Trustee shall be continuously invested and reinvested and deposited or redeposited by the Trustee in the highest yield that may be reasonably known to the Trustee, with a view to maximizing yield and minimizing the instances of uninvested funds, and subject to all written directions from the Authority and the Company, as aforesaid. All investments shall mature or be subject to redemption by the owner at not less than the principal amount thereof or the cost of acquisition, whichever is lower, and all investments of the types set forth in subparagraph (f) of the definition of Investment Securities shall be subject to withdrawal without penalty not later than the date when the amounts will foreseeably be needed for purposes of this Indenture. Any moneys held as a part of the Bond Fund shall be invested or reinvested by the Trustee, to the extent permitted by law, in United States Treasury bills with maturities of no more than thirty days from the date of acquisition thereof. All securities securing investments under this Section shall be deposited with a Federal Reserve Bank, with the trust department of the Trustee as authorized by law, or with a bank or trust company having a combined net capital and surplus of not less than $10,000,000. The interest and income received from time to time upon such deposits and investments and any profit realized or loss sustained from the sale of such securities shall be added or charged to the appropriate Fund for computation of any surplus or deficiency in any such Fund. Upon request of the Authority as directed by Company, or on its own initiative whenever payment is to be made out of any Fund, the Trustee shall sell such securities as may be requir...
Investment or Deposit of Funds. 25 Section 5.01. Deposits and Security Therefor....................... 25 Section 5.02. Investment or Deposit of Funds....................... 25 ARTICLE VI.
Investment or Deposit of Funds. The Trustee shall, at the ------------ ------------------------------ written request and direction of the Company, invest moneys held in the Bond Fund in obligations which are authorized investments under the Act and under this Indenture or deposit such moneys in time accounts (including accounts evidenced by time certificates of deposit), which may be maintained with the commercial department of the Trustee, secured as provided in Section 5.01 above and under the terms permitted by applicable law. However, all such investments shall mature or be subject to redemption at the option of the owner at not less than the principal amount thereof or the cost of acquisition, whichever is lower, and all deposits in time accounts shall be subject to withdrawal not later than the date when the amounts will foreseeably be needed for purposes of this Indenture. In making any investment permitted under this Section, the Trustee may effect such investment through its investment department. The investments permitted hereunder shall include: (i) Government Obligations, (ii) bonds, debentures or notes issued by any of the following Federal agencies: Banks for Cooperatives, Federal Intermediate Credit Banks, Federal Home Loan Banks, Export-Import Bank of the United States, Government National Mortgage Association, Federal Land Banks or Federal National Mortgage Association (including participation certificates issued by such Association), (iii) all other obligations issued or unconditionally guaranteed as to principal and interest by an agency or person controlled or supervised by and acting as an instrumentality of the United States of America pursuant to authority granted by the Congress, (iv) time deposits, certificates of deposit or similar arrangements with the Trustee or any bank organized under the laws of the United States of America or any state thereof which is a member of the Federal Deposit Insurance Corporation having reported capital and surplus of not less than $50,000,000 and reported deposits of not less than $250,000,000, fully secured in the manner provided in Section 5.01 hereof, (v) bankers' acceptances (other than by the Company or its affiliates) drawn on and accepted by any commercial bank (including the Trustee) organized under the laws of the United States of America or any state thereof which is a member of the Federal Deposit Insurance Corporation having reported capital and surplus of not less than $50,000,000 and reported deposits not less than...
Investment or Deposit of Funds
