Common use of Income or Gain Clause in Contracts

Income or Gain. Any interest, investment income or gain realized as a result of any investments pursuant to Section 5.1 held in the Authority Account (net of the expenses incurred in connection with making such investments) shall be deposited, as soon as practicable (and reinvested as provided herein), shall be retained in the Authority Account on which such amount was realized. No Depositary Bank shall have any liability for any loss resulting from any such Permitted Investment other than by reason of its gross negligence, bad faith, or willful misconduct.

Appears in 2 contracts

Samples: Authority PSL Account Agreement, Authority PSL Account Agreement

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Income or Gain. Any interest, investment income or gain realized as a result of any investments pursuant to Section 5.1 held in the Authority Account Accounts (net of the expenses incurred in connection with making such investments) shall be deposited, as soon as practicable (and reinvested as provided herein), shall be retained in the Authority Account on which such amount was realized. No Depositary Bank shall have any liability for any loss resulting from any such Permitted Investment other than by reason of its willful misconduct or gross negligence, bad faith, or willful misconduct.

Appears in 1 contract

Samples: Authority PSL Account Agreement

Income or Gain. Any interest, investment income or gain realized as a result of any investments pursuant to Section 5.1 held in the Authority Account Accounts (net of the expenses incurred in connection with making such investments) shall be deposited, as soon as practicable (and reinvested as provided herein), shall be retained in the Authority Account on which such amount was realized. No Depositary Bank shall have any liability for any loss resulting from any such Permitted Investment other than by reason of its gross negligence, bad faith, or willful misconductmisconduct or gross negligence.

Appears in 1 contract

Samples: Authority PSL Account Agreement

Income or Gain. Any interest, investment income or gain realized as a result of any investments pursuant to Section 5.1 held in the Authority [Accounts]Authority Account (net of the expenses incurred in connection with making such investments) shall be deposited, as soon as practicable (and reinvested as provided herein), shall be retained in the Authority Account on which such amount was realized. No Depositary Bank shall have any liability for any loss resulting from any such Permitted Investment other than by reason of its gross negligence, bad faith, or willful misconduct.

Appears in 1 contract

Samples: Authority PSL Account Agreement

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Income or Gain. Any interest, investment income or gain realized as a result of any investments pursuant to Section 5.1 held in the Authority Account Accounts (net of the expenses incurred in connection with making such investments) shall be deposited, as soon as practicable (and reinvested as provided herein), shall be retained in the Authority Account on which such amount was realized. No Depositary Bank shall have any liability for any loss resulting from any such Permitted Investment other than by reason of its gross negligence, bad faith, or willful misconduct.

Appears in 1 contract

Samples: Authority PSL Account Agreement

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