Qualified Investments definition
Examples of Qualified Investments in a sentence
Qualified Investments representing an investment of money attributable to any fund or account shall be deemed at all times to be a part of said fund or account, and, except as otherwise may be provided expressly in other Sections hereof, the interest thereon and any profit arising on the sale thereof shall be credited to the Revenue Fund, and any loss resulting on the sale thereof shall be charged against the Revenue Fund.
The Trustee may elect, but shall not be obligated, to credit the funds and accounts held by it with moneys representing income or principal payments due on, or sales proceeds due in respect of, Qualified Investments in such funds and accounts, or to credit to Qualified Investments intended to be purchased with such moneys, in each case before actually receiving the requisite moneys from the payment source, or to otherwise advance funds for account transactions.
The Fiscal Agent or any of its affiliates may act as advisor or sponsor with respect to any Qualified Investments.
The Trustee shall have no responsibility to monitor the ratings of Qualified Investments after the initial purchase of such Qualified Investments, including at the time of the reinvestment of proceeds thereof.
The Trustee shall be fully protected in relying on the investment direction of the Authorized Corporation Representative as to the suitability and the legality of such directed investments and any such written investment direction shall be deemed a certification by the Authorized Corporation Representative that such directed investments constitute Qualified Investments.