Security for Uninvested Funds. All uninvested money on deposit in, or credited to, the Debt Service Fund shall be secured by the pledge of security as provided by the laws of the State.
Security for Uninvested Funds. So long as any Bonds remain Outstanding, all uninvested moneys shall be secured as provided by Texas law or the federal laws applicable to national banks.
Security for Uninvested Funds. Unless invested in Defeasance Securities, all money held for the credit of the Escrow in excess of the amount insured by the Federal Deposit Insurance Corporation or other federal agency shall be continuously secured by the Escrow Agent, for the benefit of the Issuer and the holders of the Refunded Obligations and appurtenant coupons, by lodging with a bank or trust company as collateral security Defeasance Securities having a market value at all times, exclusive of accrued interest, not less than the amount of such excess amount, or in such other manner as may hereafter be required by applicable state or federal laws and regulations regarding the security for, and the granting of a preference in case of, the deposit of trust money.
Security for Uninvested Funds. So long as any Obligations remain Outstanding, all uninvested moneys on deposit in, or credited to, the First Lien Debt Service Fund, the First Lien Debt Service Reserve Fund, the Second Lien Debt Service Fund, and the Second Lien Debt Service Reserve Fund shall be secured by the pledge of security, to the extent required by law.
