Common use of Overnight Investments Clause in Contracts

Overnight Investments. To the extent that, as of 12:00 noon, New York time on any Business Day, there are credit balances expected to remain after settlement of all pending transactions in the Reserve Account, unless otherwise instructed by Secured Party (or by Administrator acting in its capacity as such, or by Pledgor at all times other than during a Suspension Period), Securities Intermediary shall apply the expected credit balances to acquire Overnight Investments in accordance with the last provided instruction relating to Overnight Investments. Any Overnight Investments shall be held for the credit of the Reserve Account from which the proceeds for acquisition was derived.

Overnight Investments. To the extent that, as of 12:00 noon, New York time on any Business Day, there are credit balances expected to remain after settlement of all pending transactions in the Reserve Account, unless otherwise instructed by Secured Party (or by Administrator acting in its capacity as such, or by Pledgor at all times other than during a Suspension PeriodPeriod or a Payment Date after the occurrence of an Event of Default that results in the acceleration of the Notes which has not been rescinded under the Indenture), Securities Intermediary shall apply the expected credit balances to acquire Overnight Investments in accordance with the last provided instruction relating to Overnight Investments. Any Overnight Investments shall be held for the credit of the Reserve Account from which the proceeds for acquisition was derived.