Investing of Amounts in the Collateral Account. The Collateral Agent will, subject to the provisions of Sections 7 and 21, from time to time direct the Collateral Bank to (a) invest amounts received with respect to the Collateral Account in such Cash Equivalents credited to the Collateral Account as the Borrower may select and the Collateral Agent may approve and (b) invest interest paid on the Cash Equivalents referred to in clause (a) above, and reinvest other proceeds of any such Cash Equivalents that may mature or be sold, in each case in such Cash Equivalents credited to the Collateral Account as the Borrower may select and the Collateral Agent may approve. Interest and proceeds that are not invested or reinvested in Cash Equivalents as provided above shall be deposited and held in a deposit account with the Collateral Bank in the name of the Collateral Agent and under the sole control and dominion of the Collateral Agent, such deposit account to be deemed to constitute part of the Collateral Account. In addition, the Collateral Agent shall have the right at any time to direct the Collateral Bank to exchange such Cash Equivalents for similar Cash Equivalents of smaller or larger determinations, or for other Cash Equivalents, credited to the Collateral Account.
Investing of Amounts in the Collateral Account. The Collateral Agent may (but shall not be obligated to), subject to Sections 6, 8 and 22, from time to time (a) invest, or direct the applicable Pledged Account Bank to invest, amounts received with respect to the Collateral Account in such Cash Equivalents credited to the Collateral Account as the Borrower may select so long as no Triggering Event has occurred and is continuing and the Collateral Agent may approve, and (b) invest interest paid on the Cash Equivalents referred to in clause (a) above, and reinvest other proceeds of any such Cash Equivalents that may mature or be sold, in each case in such Cash Equivalents credited in the same manner. Interest and proceeds that are not invested or reinvested in Cash Equivalents as provided above shall be deposited and held in the Collateral Account subject to Sections 6, 8 and 22. In addition, subject to Sections 6, 8 and 22, the Collateral Agent shall have the right at any time to exchange, or direct the applicable Pledged Account Bank to exchange, such Cash Equivalents for similar Cash Equivalents of smaller or larger determinations, or for other Cash Equivalents, credited to the Collateral Account.
Investing of Amounts in the Collateral Account. The Collateral Agent shall advise the Pledgor if, at any time, any amounts shall exist in the Collateral Account uninvested, and if directed in writing by the Pledgor, the Collateral Agent will, subject to the provisions of Section 6 and Section 13;
Investing of Amounts in the Collateral Account. During periods when the Collateral Agent exercises sole control over the Collateral Account, the Collateral Agent shall, subject to the provisions of Sections 6, 8 and 21: (a) from time to time, invest, or direct the applicable Pledged Account Bank to invest, amounts received with respect to the Collateral Account in such Cash Equivalents credited to the Collateral Account as the Grantors may select, (b) from time to time, invest interest paid on the Cash Equivalents referred to in subsection (a) above and reinvest other proceeds of any such Cash Equivalents that may mature or be sold, in each case in such Cash Equivalents credited in the same manner, (c) deposit interest and proceeds that are not invested or reinvested in Cash Equivalents as provided above in the Collateral Account and (d) have the right to exchange, or direct the applicable Pledged Account Bank to exchange, such Cash Equivalents for similar Cash Equivalents of smaller or larger determinations, or for other Cash Equivalents, credited to the Collateral Account.
Investing of Amounts in the Collateral Account. On the Closing Date, the Collateral Agent will, subject to the provisions of Section 7 and Section 14 hereof, direct the Securities Intermediary (a) to invest amounts on deposit in the Collateral Account in Cash Equivalents, each in the name of the Securities Intermediary and (b) to invest interest paid on the Cash Equivalents referred to in clause (a) above, and reinvest other proceeds of any such Cash Equivalents that may mature or be sold, in each case in such Cash Equivalents, each in the name of the Securities Intermediary; provided, however, that in no event shall such Cash Equivalents have a maturity more than 7 days from the date of acquisition thereof by the Securities Intermediary or later than May 31, 2001 or, if applicable, the Business Day prior to any Special Redemption Date (the Cash Equivalents referred to in clauses (a) and (b) above and subject to the limitation set forth in the foregoing proviso being collectively "Collateral Investments"). Interest and proceeds that are not invested or reinvested in Collateral Investments as provided above shall be deposited and held in the Collateral Account. None of the Collateral Agent or the Securities Intermediary shall have any liability in respect of losses incurred as a result of the liquidation of any Cash Equivalent prior to its stated maturity unless such losses are caused by the Collateral Agent's or Securities Intermediary's own gross negligence or willful misconduct.
Investing of Amounts in the Collateral Account. The Escrow Agent shall invest all amounts on deposit in the Collateral Account in the name of the Escrow Agent in Cash Equivalents (“Collateral Investment”). In no event shall the Escrow Agent be liable for any loss in the investment or reinvestment of amounts held in the Collateral Account unless such loss results from the Escrow Agent’s bad faith, gross negligence or wilful misconduct.
Investing of Amounts in the Collateral Account. The Escrow Agent shall cause the Escrowed Funds to be invested in the name of the Escrow Agent in such Eligible Escrow Investments (any such investment, a “Collateral Investment”) as the Pledgor may specify in writing from time to time. During the term of this Escrow and Security Agreement, the Pledgor shall bear and retain sole responsibility for the selection of investments of the Escrowed Funds and all risks from such investments. In the absence of written instructions, the Escrow Agent will invest funds in the Union Bank, N.A. Institutional Trust Deposit Account l (an interest bearing deposit account of the Escrow Agent). The Escrow Agent shall have no obligation to invest the Escrowed Funds if deposited with the Escrow Agent after 11:00 a.m. (P.T.) on the day of deposit. Instructions received after 11:00 a.m. (P.T.) will be treated as if received on the following Business Day. The Escrow Agent shall have no responsibility for any investment losses resulting from the investment, reinvestment or liquidation of the Escrowed Funds. Any interest or other income received on such investment and reinvestment of the Escrowed Funds shall become part of the Escrowed Funds, and losses incurred on such investment and reinvestment of the Escrowed Funds shall be reflected in the value of the Escrowed Funds from time to time. Notwithstanding the foregoing, the Escrow Agent shall have the power to sell or liquidate the foregoing investments whenever the Escrow Agent shall be required to release all or any portion of the Escrowed Funds pursuant to this Escrow and Security Agreement. In no event shall the Escrow Agent be deemed an investment manager or adviser in respect of any selection of investments hereunder.
Investing of Amounts in the Collateral Account. The Trustee will, upon receipt of the written instructions of the Company from time to time, subject to Section 12 hereof, instruct the Disbursement Agent to
Investing of Amounts in the Collateral Account. If directed by the Pledgor in writing, the Trustee will, subject to the provisions of Section 7 and Section 14 hereof, from time to time (a) invest amounts on deposit in the Collateral Account in such Cash Equivalents, each in the name of or for the account of the Trustee, as the Pledgor may select and the Trustee may approve and (b) invest interest paid on the Cash Equivalents referred to in clause (a) above, and reinvest other proceeds of any such Cash Equivalents that may mature or be sold, in each case in such Cash Equivalents, each in the name of or for the account of the Trustee, as the Pledgor may select and the Trustee may approve (the Cash Equivalents referred to in clauses (a) and (b) above being collectively "COLLATERAL INVESTMENTS"). The amount on deposit in the Collateral Account must include Government Securities sufficient, in the opinion of a nationally recognized firm of independent public accountants selected by the Pledgor, to provide for the payment in full of the first six scheduled interest payments on all of the Notes then outstanding. Interest and proceeds that are not invested or reinvested in Collateral Investments as provided above shall be deposited and held in the Collateral Account. The Trustee shall in no event be liable for any loss in the investment or reinvestment of amounts held in the Collateral Account.
Investing of Amounts in the Collateral Account. The Trustee will upon receipt of the written instructions of the Company from time to time, subject to Sections 8 and 20
