Source of Contributions. Each Participant hereby covenants that it will deliver pursuant to Section 3.6 only Investment Funds that constitute Surplus Funds and are permitted to be invested pursuant to the laws of the State and any ordinance or local regulation applicable to such Participant and that it will perform all actions required by the laws of the State and any ordinance or local regulation application to such Participation to be done prior to such investment.
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Samples: Participation Agreement, Participation Agreement, Participation Agreement
Source of Contributions. Each Participant hereby covenants that it will deliver pursuant to Section 3.6 only Investment Funds that constitute Surplus Funds and are permitted to be invested pursuant to the laws of the State and any ordinance or local regulation applicable to such Participant Participant, and that it will perform all actions required by the laws of the State and any ordinance or local regulation application to such Participation to be done prior to such investment.
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