Common use of Administration of the Collection Account Clause in Contracts

Administration of the Collection Account. All amounts held in the Collection Account shall be invested in Eligible Investments at the written direction (which may be standing directions) of the Issuer (or the Manager on its behalf); provided, however, that any such investment in the Collection Account shall mature not later than the Business Day prior to the next succeeding Monthly Allocation Date. In the absence of written investment instructions hereunder, funds on deposit in the Collection Account shall remain uninvested with no liability to the Trustee or the Securities Intermediary. All income or other gain from such Eligible Investments shall be credited to the Collection Account, and any loss resulting from such investments shall be charged to the Collection Account. The Issuer shall not direct (or permit) the disposal of any Eligible Investments prior to the maturity thereof if such disposal would result in a loss of any portion of the initial purchase price of such Eligible Investment.

Appears in 3 contracts

Samples: Indenture (Fat Brands, Inc), Fat Brands, Inc, Fat Brands, Inc

AutoNDA by SimpleDocs

Administration of the Collection Account. All amounts held in the Collection Account shall be invested in Eligible Investments at the written direction (which may be standing directions) of the Master Issuer (or the Manager on its behalf); provided, however, that any ) and such amounts may be transferred by the Master Issuer (or the Manager on its behalf) into an investment account for the sole purpose of investing in the Collection Account shall mature not later than the Business Day prior to the next succeeding Monthly Allocation DateEligible Investments. In the absence of written investment instructions hereunder, funds on deposit in the Collection Account shall remain uninvested with no liability to be invested as fully as practicable in one or more Eligible Investments of the Trustee or type described in clause (b) of the Securities Intermediarydefinition thereof. All income or other gain from such Eligible Investments shall be credited to the Collection Account, and any loss resulting from such investments shall be charged to the Collection Account. The Master Issuer shall not direct (or permit) the disposal of any Eligible Investments prior to the maturity thereof if such disposal would result in a loss of any portion of the initial purchase price of such Eligible Investment.

Appears in 1 contract

Samples: Jack in the Box Inc /New/

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.