Common use of Investments of Cash Clause in Contracts

Investments of Cash. For so long as any Notes remain Outstanding, the Trustee, at the direction of the Servicer, shall, or shall direct the Eligible Institution holding each Account in writing, to invest and reinvest the funds on deposit in the Accounts in Eligible Investments; provided, however, that so long as an Event of Default has occurred and is continuing, the Trustee shall invest such amount in Eligible Investments described in clause (d) of the definition thereof from the time of receipt thereof until such time as such amounts are required to be distributed pursuant to the terms of this Indenture. In the absence of written direction delivered to the Trustee from the Servicer, the Trustee shall invest any funds in Eligible Investments described in clause (d) of the definition thereof. The Trustee shall make such investments and reinvestments in accordance with the terms of the following provisions: (i) the Eligible Investments shall have maturities and other terms such that sufficient funds shall be available to make required payments pursuant to this Indenture on the Business Day immediately preceding the first Payment Date after which such investment is made, in the case of investments of funds on deposit in the Collection Account; and (ii) if any funds to be invested are not received in the Accounts by 1:00 p.m., New York City time, on any Business Day, such funds shall, if possible, be invested in overnight Eligible Investments. The Issuer acknowledges that regulations of the U.S. Comptroller of the Currency grant the Issuer the right to receive confirmations of security transactions as they occur. The Issuer specifically waives receipt of such confirmations to the extent permitted by law and acknowledges that the Trustee will furnish periodic cash transaction statements which will detail all investment transactions.

Investments of Cash. For so So long as any Notes remain Outstanding, the Trustee, at the direction of the Servicer, shall, or shall direct the Eligible Institution holding each Account in writing, to invest and reinvest the funds on deposit in the Accounts in Eligible Investments; provided, however, that so long as an no Event of Default has occurred and is continuing, the Trustee shall is hereby directed to invest such amount and reinvest the funds on deposit in the Transaction Accounts in the Eligible Investments described in clause (d) of the definition thereof from the time of receipt thereof until such time as such amounts are required to be distributed pursuant Investment, to the terms of this Indentureextent such Eligible Investment is available to the relevant Operating Bank and is in the name of, and under the exclusive control of, the Trustee. In the absence of written direction delivered to the Trustee from the ServicerIssuer or from the Servicer on behalf of the Issuer to cease such investment as to a specified Transaction Account, the Trustee shall direct each Operating Bank to invest any funds in the Transaction Accounts in the Eligible Investments described in clause (d) of the definition thereofInvestment. The Trustee shall direct each Operating Bank to make such investments and reinvestments in accordance with the terms of the following provisions: (ia) the Eligible Investments Investment shall have maturities and other terms such that sufficient funds shall be available to make required payments pursuant to this Indenture on the Business Day immediately preceding the first next occurring Payment Date after which such investment is made, in the case taking into account with respect to investment of investments of funds on deposit in the Collection Account; andMilestone Payments and any Licensee Termination Payment that such amounts shall not be used for payments under Section 3.6(a); (iib) if any funds to be invested are not received in the Transaction Accounts by after 1:00 p.m., New York City time, on any Business Day, such funds shall, if possible, be invested in the Eligible Investment on such Business Day; (c) all interest and earnings on the Eligible Investment held in the Transaction Accounts shall be invested in the Eligible Investment on an overnight Eligible Investments. The basis and credited to the appropriate Transaction Account until the next Payment Date; and (d) the Issuer acknowledges that regulations of the U.S. Comptroller of the Currency grant the Issuer the right to receive confirmations of security transactions as they occur. The Issuer specifically waives receipt of such confirmations to the extent permitted by law and acknowledges that the Trustee Operating Bank will furnish periodic monthly cash transaction statements which to the Trustee and the Noteholders that will detail all investment transactionstransactions as set forth in this Indenture.