Settlement Collection Subaccount. The Issuer shall not direct the Indenture Trustee to dispose of (or permit the disposal of) any Permitted Investments prior to the maturity thereof to the extent such disposal would result in a loss of principal of such Permitted Investment. In the absence of written direction as provided hereunder, all funds on deposit in the Collection Account shall remain uninvested.
Appears in 21 contracts
Samples: Master Agreement (PHH Corp), Master Agreement (PHH Corp), Master Agreement (PHH Corp)
Settlement Collection Subaccount. The Neither the Administrative Agent nor the Issuer shall not direct the Indenture Trustee to dispose of (or permit the disposal of) any Permitted Investments prior to the maturity thereof to the extent such disposal would result in a loss of principal of such Permitted Investment. In the absence of written direction as provided hereunder, all funds on deposit in the Collection Account shall remain uninvested.
Appears in 3 contracts
Samples: Master Agreement (PHH Corp), Master Agreement (PHH Corp), Purchase and Sale (PHH Corp)