Status of Moneys Received. All moneys received by the Owner Trustee under or pursuant to any provision of this Agreement or any Operative Agreement shall constitute trust funds for the purpose for which they were paid or are held, but need not be segregated in any manner from any other moneys except to the extent required by law and subsection (e) of Section 3.18 hereof and may be deposited by the Owner Trustee under such conditions as may be prescribed or permitted by law for trust funds, or may be invested in direct obligations of the United States.
Status of Moneys Received. 10 Section 3.09. Self-Dealing............................................. 11 Section 3.10. Definition of a Responsible Officer...................... 11 Section 3.11. Resignation or Removal of Owner Trustee.................. 11 Section 3.12. Estate and Rights of Successor Owner Trustee............. 11 Section 3.13. Merger or Consolidation of SSB........................... 12 Section 3.14. Co-Trustees.............................................. 12 Section 3.15.
Status of Moneys Received. (a) All moneys received by the Collateral Agent shall, until used or applied as herein provided, be held for the purposes for which they were received, but need not be segregated in any manner from any other moneys, except to the extent required by law, and may be deposited by the Collateral Agent under such general conditions as may be prescribed by law in the Collateral Agent’s general banking department, and the Collateral Agent shall be under no liability for interest on any moneys received by it hereunder. The Collateral Agent and any affiliated corporation may become the owner of any of the Obligations and be interested in any financial transaction with any Obligor, or the Collateral Agent may act as depository or otherwise in respect to other securities of any Obligor, all with the same rights which it would have if it was not the Collateral Agent.
(b) The Collateral Agent may invest and reinvest any funds from time to time held by the Collateral Agent in direct obligations of the United States of America or obligations for which the full faith and credit of the United States is pledged to provide for the payment of principal and interest, maturing not more than 90 days from the date of such investment.
Status of Moneys Received. (a) All moneys received by the Collateral Agent shall, together with any interest thereon, until used or applied as herein provided, be held in trust for the purposes for which they were received, but (except as herein otherwise provided with respect to the funds referred to in paragraph (b) of this Section) need not be segregated in any manner from any other moneys, except to the extent required by law, and may be deposited by the Collateral Agent under such general conditions as may be prescribed by law in the Collateral Agent’s general banking department, and the Collateral Agent shall be under no liability for interest (other than any interest accrued pursuant to clause (b) of this §8.5) on any moneys received by it hereunder.
(b) At the Borrower’s written request, so long as no Event of Default has occurred and is continuing, the Collateral Agent shall invest and reinvest any funds from time to time held by the Collateral Agent in direct obligations of the United States of America or obligations for which the full faith and credit of the United States is pledged to provide for the payment of principal and interest, maturing not more than 90 days from the date of such investment.
Status of Moneys Received. All moneys received by Certificate ------------------------- Trustee under or pursuant to any provision of this Trust Agreement (other than Excluded Amounts to be paid to Bank) shall constitute trust funds for the purpose for which they were paid or are held, but need not be segregated in any manner from any other moneys and may be deposited by Certificate Trustee under such conditions as may be prescribed or permitted by Applicable Laws for trust funds, or, at the direction of the Required Entities may be invested in Permitted Investments.
Status of Moneys Received. (a) Except as otherwise specifically prescribed in this Agreement, all moneys received by the Collateral Agent shall, until used or applied as herein provided, be held for the purposes for which they were received, in segregated accounts, and may be deposited by the Collateral Agent under such general conditions as may be prescribed by law in the Collateral Agent's general banking department, and the Collateral Agent shall be under no liability for interest on any moneys received by it hereunder. The Collateral Agent and any affiliated corporation may become the owner of any of the Obligations and be interested in any financial transaction with any of the Credit Parties or any affiliated corporation, or the Collateral Agent may act as depository or otherwise in respect to other securities of any of the Credit Parties or any affiliated corporation, all with the same rights which it would have if not the Collateral Agent.
(b) The Collateral Agent may invest and reinvest any funds from time to time held by the Collateral Agent in direct obligations of the United States of America or obligations for which the full faith and credit of the United States is pledged to provide for the payment of principal and interest, maturing not more than 90 days from the date of such investment.
Status of Moneys Received. 10 SECTION 3.09. Self-Dealing............................................. 10 SECTION 3.10. Intentionally Left Blank................................. 10 SECTION 3.11. Resignation or Removal of Owner Trustee.................. 10 SECTION 3.12. Estate and Rights of Successor Owner Trustee............. 11 SECTION 3.13. Merger or Consolidation of NBD........................... 12 SECTION 3.14. Co-Trustees.............................................. 12 SECTION 3.15.
Status of Moneys Received. (a) Pending the disbursement thereof pursuant to the terms of this Agreement, all monies received by the Collateral Agent following the enforcement of the Liens granted and provided for in the Security Documents, and all payments received by the Collateral Agent pursuant to Section 6.2 or 6.3, shall be held for the purposes for which they were received, in segregated accounts, and shall, if held by the Collateral Agent for more than one (1) Business Day, be invested by the Collateral Agent in investments permitted by Section 5.3(b) below. The Collateral Agent and any affiliated corporation may become the owner of any of the Senior Obligations and be interested in any financial transaction with any of the Credit Parties or any affiliated corporation, or the Collateral Agent may act as depository or otherwise with respect to other securities of any of the Credit Parties or any affiliated corporation, all with the same rights which it would have if not the Collateral Agent.
(b) The Collateral Agent will, in accordance with Section 5.3(a), invest and reinvest any funds held by the Collateral Agent following the enforcement of the Liens granted and provided for in the Security Documents in direct obligations of the United States of America or obligations for which the full faith and credit of the United States is pledged to provide for the payment of principal and interest, maturing not more than 90 days from the date of such investment. Earnings on monies so invested shall constitute proceeds of Collateral for purposes of this Agreement.
(c) The Collateral Agent shall establish and maintain with an Acceptable Bank having its offices in New York, New York an account (the "Letter of Credit Collateral Account") into which it shall deposit all amounts that the Collateral Agent shall receive pursuant to the terms of Section 4.3 on account of the Unfunded Letter of Credit Exposure with respect to Letters of Credit then outstanding. The Collateral Agent shall establish sub-accounts in the Letter of Credit Collateral Account with respect to each such outstanding Letter of Credit. All amounts deposited in the Letter of Credit Collateral Account shall be allocated between, and deposited in, the respective sub-accounts therein pro RATA in accordance with the Unfunded Letter of Credit Exposure with respect to the related Letters of Credit. If, on or after the date on which any funds are deposited in the Letter of Credit Collateral Account, any such Letter of Credit is dra...
Status of Moneys Received. All moneys received by the Collateral Agent pursuant to this Agreement shall be held in trust for the purposes for which they were paid, and shall be segregated from any other moneys held by the Collateral Agent, and may be deposited by the Collateral Agent under such general conditions as may be prescribed by law in the general banking department of the Collateral Agent, and the Collateral Agent shall not be liable for any interest thereon.
Status of Moneys Received. (a) All moneys received by the Security Trustee shall, together with any interest thereon, until used or applied as herein provided, be held in trust for the purposes for which they were received, but (except as herein otherwise provided with respect to the funds referred to in paragraph (b) of this Section) need not be segregated in any manner from any other moneys, except to the extent required by law, and may be deposited by the Security Trustee under such general conditions as may be prescribed by law in the Security Trustee’s general banking department, and the Security Trustee shall be under no liability for interest (other than any interest accrued pursuant to clause (b) of this §8.5) on any moneys received by it hereunder.
(b) The Security Trustee shall invest and reinvest any funds from time to time held by the Security Trustee in direct obligations of the United States of America or obligations for which the full faith and credit of the United States is pledged to provide for the payment of principal and interest, maturing not more than 90 days from the date of such investment.
