Common use of Investment of Contributions Clause in Contracts

Investment of Contributions. As and when requested by the Executive Committee, the Partnership shall invest its surplus funds in (i) obligations constituting full faith and credit obligations of the United States (ii) deposits in any branch of any commercial bank organized under the laws of the United States or any state thereof having capital and surplus of at least $50 million, or (iii) prime commercial paper of any corporation organized under the laws of the United States or any state thereof or any combination thereof, provided in each case the period of maturity on the date of acquisition of any such obligation, deposit or commercial paper shall not exceed 90 days. The Partnership may also invest in such other investments as shall be approved by the Partners. Any income earned or such investments shall belong to the Partnership.

Appears in 3 contracts

Samples: Company) Partnership Agreement (Shipyard River Coal Terminal Co), Partnership Agreement (Shipyard River Coal Terminal Co), Partnership Agreement (Shipyard River Coal Terminal Co)

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Investment of Contributions. As and when requested by the --------------------------- Executive Committee, the Partnership shall invest its surplus funds in (i) obligations constituting full faith and credit obligations of the United States (ii) deposits in any branch of any commercial bank organized under the laws of the United States or any state thereof having capital and surplus of at least $50 million, or (iii) prime commercial paper of any corporation organized under the laws of the United States or any state thereof or any combination thereof, provided in each case the period of maturity on the date of acquisition of any such obligation, deposit or commercial paper shall not exceed 90 days. The Partnership may also invest in such other investments as shall be approved by the PartnersPartnership. Any income earned or on such investments shall belong to the Partnership.

Appears in 1 contract

Samples: Partnership Agreement (Princess Beverly Coal Holding Co Inc)

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Investment of Contributions. As and when requested by the --------------------------- Executive Committee, the Partnership shall invest its surplus funds in (i) ____ obligations constituting full faith and credit obligations of the United States (ii) States, ___ deposits in any branch of any commercial bank organized under the laws of the United States or any state thereof having capital and surplus of at least $50 million, or (iii) prime commercial paper of any corporation organized under the laws of the United States or any state thereof or any combination thereof, provided in each case the period of maturity on the date of acquisition of any such obligation, deposit or commercial paper shall not exceed 90 days. The Partnership may also invest in such other investments as shall be approved by the Partners. Any income earned or on such investments shall belong to the Partnership.

Appears in 1 contract

Samples: Partnership Agreement (Princess Beverly Coal Holding Co Inc)

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