Valuation and Sale of Investments. (a) Obligations purchased as an investment of funds in any Indenture Account or any other separate account or fund created under the provisions of this Indenture shall be deemed at all times to be a part of such account or fund and, unless otherwise specified herein, any profit realized from the liquidation of such investment shall be credited to such Indenture Account or such other separate account or fund created hereunder, and any loss resulting from the liquidation of such investment shall be charged to the respective Indenture Account or such other separate account or fund.
(b) The Trustee shall determine the value of all investments in any of the Indenture Accounts as of the last Business Day of each month, with any deficit in any account balance to be funded from Project Revenues in accordance with this Section 4.3, and any investments valued in excess of the amounts required to be on deposit in an account shall be liquidated and the amount of such excess shall be deposited in the Bond Payment Account for application in accordance with Section 5.2.
(c) In computing the amount of any funds in any Indenture Account, or other separate account or fund created under the provisions of this Indenture for any purpose provided in this Indenture, obligations purchased as an investment of funds therein shall be valued at the market value of such obligations, exclusive of accrued interest; provided, however, if there is no readily determinable market value for such obligations, the value of such obligations shall be determined with reference to the acquisition price of such obligations, plus accrued but unpaid interest.
(d) The Depositary Bank agrees to provide the Trustee with such information as it may reasonably have available to it in order to permit the Trustee to make such determinations and transfers as may be required by this Section 4.3.
Valuation and Sale of Investments. (A) Permitted Investments in any fund, account or subaccount created under the provisions of this Indenture shall be deemed at all times to be part of such fund, account or subaccount and any profit realized from the liquidation
(B) Valuations of Permitted Investments held in the funds, accounts and subaccounts established hereunder shall be made by the Trustee as often as may be necessary to determine the amounts held therein. In computing the amounts in such funds, accounts and subaccounts, Permitted Investments therein shall be valued as provided in subsection (C) of this Section.
(C) The value of Permitted Investments shall mean the fair market value thereof. The Trustee shall determine the fair market value based on accepted industry standards and from accepted industry providers.
(D) Except as otherwise provided in this Indenture, the Trustee at the direction of an Authorized Officer shall sell or present for redemption any Permitted Investment held in any fund, account or subaccount held by the Trustee whenever it shall be necessary to provide moneys to meet any payment or transfer from such fund, account or subaccount as the case may be. The Trustee and SANDAG shall not be liable or responsible for making any such investment in the manner provided above or for any loss resulting from any such investment.
(E) SANDAG acknowledges that to the extent regulations of the Comptroller of the Currency or other applicable regulatory entity xxxxx XXXXXX the right to receive brokerage confirmations of security transactions as they occur, SANDAG specifically waives receipt of such confirmations to the extent permitted by law. The Trustee will furnish SANDAG periodic (and not less frequently than monthly) cash transaction statements which shall include detail for all investment transactions made by the Trustee hereunder.
Valuation and Sale of Investments. 13 SECTION 3.4
Valuation and Sale of Investments. (a) Investment Securities acquired as an investment of moneys in any Fund or Account shall be at all times a part of such Fund or Account, and any profit or loss realized from the liquidation of such investment shall be applied as provided in Section 6.03(b).
(b) For the purpose of determining the amount in any Fund, all Investment Securities credited to such Fund shall be valued at fair market value. The Trustee shall determine the fair market value based on accepted industry standards and from accepted industry providers. Certificates of deposit and bankers’ acceptances shall be valued at the face amount thereof, plus accrued interest thereon. Any other investment shall be valued at the value thereof established by prior agreement among the Commission and the Trustee.
(c) Except as otherwise provided in this Trust Agreement, the Trustee shall sell, or present for redemption, any Investment Security purchased as an investment whenever requested in writing by an Authorized Commission Representative or whenever it shall be necessary in order to provide moneys to meet any payment or transfer from any Fund or Account. The Trustee shall not be liable or responsible for any loss resulting from any such sale.
(d) The Trustee is required to determine the value of the Debt Service Reserve Fund no less frequently than semi-annually (and monthly from the date of any deficiency until such deficiency is cured).
Valuation and Sale of Investments. (A) In computing the amount in any Account, obligations purchased as an investment of monies therein shall be valued at amortized value (as such term is defined in the Act) or if purchased at par, at par.
(B) Except as otherwise provided herein, the Trustee shall sell at the best price obtainable, or present for redemption, any Investment Security whenever it shall be requested in writing by an Authorized Officer to do so or whenever it shall be necessary in order to provide monies to meet any payment or transfer from any Account held by it. An Investment Security may be credited on a pro-rata basis to more than one Account and need not be sold in order to provide for the transfer of amounts from one Account to another.
Valuation and Sale of Investments. (a) Eligible Investments acquired as an investment of moneys in any Fund shall be at all times a part of such Fund and any profit realized from the liquidation of such investment shall be applied as provided in subsection (b) of Section 11.01 and any loss resulting from the liquidation of such Eligible Investment shall be charged to the respective Fund.
(b) In computing the amount in any Fund, obligations purchased as an investment of moneys therein shall be valued at their Amortized Value. The valuation of each Fund held under this Indenture shall be valued by the Trustee within thirty (30) days after the end of the Fiscal Year.
(c) Except as otherwise provided in the Indenture, the Trustee shall sell at the best price obtainable (as evidenced by two or more bids), or present for redemption, any Eligible Investment so purchased as an investment whenever it shall be requested to do so in a Letter of Instructions or whenever it shall be necessary in order to provide moneys to meet any payment or transfer from any Fund held by it. The Trustee shall not be liable or responsible for making any such investment in the manner provided in this Article XI or for any loss resulting from any such investment.
Valuation and Sale of Investments. Obligations purchased as an investment of moneys in any Fund created under the provisions of this Agreement shall be deemed at all times to be a part of such Fund and any profit realized from the liquidation of such investment shall be credited to such Fund, and any loss resulting from the liquidation of such investment shall be charged to the respective Fund. In computing the amount in any Fund created under the provisions of this Agreement for any purpose provided in this Agreement, obligations purchased as an investment of moneys therein shall be valued at the current market value thereof.
Valuation and Sale of Investments. Obligations purchased as an investment of moneys in any Account created under the provisions of this Trust Agreement shall be deemed at all times to be a part of such Account and any profit realized from the liquidation of such investment shall be credited to, and any loss resulting from the liquidation of such investment shall be charged to, the computation of net interest earned on the moneys and investments of such Account. In computing the amount in any Account created under the provisions of this Trust Agreement for any purpose provided in this Trust Agreement, obligations purchased as an investment of moneys therein shall be valued at the amortized cost of such obligations plus accrued interest. Such computation shall be determined as and when needed. Investments in the Reserve Account shall be valued semi‐annually. Except as otherwise provided in this Trust Agreement, the Trustee shall sell at the best price reasonably obtainable or present for redemption or transfer as provided in the next sentence any obligation so purchased as an investment whenever it shall be requested in writing by the Authorized Governing Board Representative so to do or whenever it shall be necessary in order to provide moneys to meet any payment or transfer from any Account or subaccount held by it. In lieu of such sale or presentment for redemption, the Trustee may, in making the payment or transfer from any Account mentioned in the preceding sentence, transfer such investment obligations or interest appertaining thereto if such investment obligations shall mature or be collectible at or prior to the time the proceeds thereof shall be needed and such transfer of investment obligations may be made in book‐entry form. The Trustee shall not be liable or responsible for making any such investment in the manner provided above or for any loss resulting from such investment.
Valuation and Sale of Investments. Obligations purchased as an investment of moneys in any Fund created under the provisions of this 2015 Bond Resolution shall be deemed at all times to be a part of such Fund and any profit realized from the liquidation of such investment shall be credited to such Fund, and any loss resulting from the liquidation of such investment shall be charged to the respective Fund. In computing the amount in any Fund created under the provisions of this 2015 Bond Resolution for any purpose provided in this 2015 Bond Resolution, obligations purchased as an investment of moneys therein shall be valued upon the maturity of the Bonds at the Amortized Value of such obligations or the market value thereof, whichever is lower, exclusive of accrued interest.
Valuation and Sale of Investments. (a) Obligations purchased as an investment of monies in any Account, LOC Provider Fund, DSR LOC Provider Fund, the Debt Service Reserve Account, the Tax Exempt Debt Service Reserve Account or any other separate account or fund created under the provisions of this Disbursement Agreement shall be deemed at all times to be a part of such account or fund and, unless otherwise specified herein, any profit realized from the liquidation of such investment shall be credited to such Account, LOC Provider Fund, DSR LOC Provider Fund, Debt Service Reserve Account, Tax Exempt Debt Service Reserve Account or such other separate account or fund, and any loss resulting from the liquidation of such investment shall be charged to the respective Account, LOC Provider Fund, DSR LOC Provider Fund, Debt Service Reserve Account, Tax Exempt Debt Service Reserve Account or such other separate account or fund.
(b) The Disbursement Agent shall determine the value of all investments in any of the LOC Provider Funds on the Completion Date and thereafter on the last Business Day of each month with any deficit in any LOC Provider Fund balance to be funded from Project Revenues in accordance with Section 3.10 hereof and any investments valued in excess of the amounts required to be on deposit in an LOC Provider Fund shall be liquidated and the amount of such excess shall be deposited in the Revenue Account.
(c) The Disbursement Agent shall determine the value of all investments in any of the DSR LOC Provider Funds on the Completion Date and thereafter on the last Business Day of each month with any deficit in any DSR LOC Provider Fund balance to be funded from Project Revenues in accordance with Section 3.10 hereof and any investments valued in excess of the amounts required to be on deposit in a DSR LOC Provider Fund shall be liquidated and the amount of such excess shall be deposited in the Revenue Account.
(d) The Disbursement Agent shall determine the value of all investments in any of the Accounts on the Completion Date and thereafter on the last Business Day of each month with any deficit in any Account balance to be funded from Project Revenues in accordance with Section 3.10 hereof and any investments valued in excess of the amounts required to be on deposit in an Account shall be liquidated and the amount of such excess shall be deposited in the Revenue Account.
(e) The Disbursement Agent shall determine the value of all investments in the Debt Service Reserve Account and the T...
