Common use of No Power to Reinvest Clause in Contracts

No Power to Reinvest. Notwithstanding anything contained in Section 5.01, 5.02, 5.04 or 5.05 to the contrary, the Owner Trustee shall not be authorized and shall have no power to reinvest the proceeds of the Trust Estate or to otherwise "vary the investment" of the Owner Participant within the meaning of Treasury Regulations Section 301.7701-4(c)(1); provided, however, that nothing contained in this Section 5.06 shall limit the indemnity provided in Section 5.03 hereof or any requirement pertaining to the investment of funds in the Operative Agreements.

Appears in 4 contracts

Samples: Trust Agreement (Southwest Airlines Co), Trust Agreement (Southwest Airlines Co), Trust Agreement (Southwest Airlines Co)

AutoNDA by SimpleDocs

No Power to Reinvest. Notwithstanding anything contained in Section 5.01, 5.02, 5.04 or 5.05 to the contrary, the Owner Trustee shall not be authorized and shall have no power to reinvest the proceeds of the Trust Estate or to otherwise "vary the investment" of the Owner Participant within the meaning of Treasury Regulations Section 301.7701-4(c)(1); provided, however, that nothing contained in this Section 5.06 shall limit the indemnity provided in Section 5.03 hereof or any requirement pertaining to the investment of funds in the Operative Agreements.. TRUST AGREEMENT [N396SW] -7- 13 ARTICLE VI

Appears in 1 contract

Samples: Trust Agreement (Southwest Airlines Co)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!