Common use of Investment of Special Payment Moneys Clause in Contracts

Investment of Special Payment Moneys. Any money received by the Trustee pursuant to Section 4.01(b) representing a Special Payment which is not distributed on the date received shall, to the extent practicable, be invested by the Trustee in Permitted Investments selected by the Company in written instructions to the Trustee pending distribution of such Special Payment pursuant to Section 4.02. Absent receipt of such instructions from the Company, such Special Payment shall remain uninvested by the Trustee pending receipt of written investment instructions. Any investment made pursuant to this Section 4.04 shall be in such Permitted Investments having maturities not later than the date that such moneys are required to be used to make the payment required under Section 4.02 on the applicable Special Distribution Date and the Trustee shall hold any such Permitted Investments until maturity. The Trustee shall have no liability with respect to any investment made pursuant to this Section 4.04, other than by reason of the willful misconduct or negligence of the Trustee. All income and earnings from such investments shall be distributed on such Special Distribution Date as part of such Special Payment.

Appears in 3 contracts

Samples: Trust Agreement (Us Airways Inc), Trust Agreement (Us Airways Inc), Through Trust Agreement (Us Airways Inc)

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Investment of Special Payment Moneys. Any money received by ------------------------------------ the Trustee pursuant to Section 4.01(b) representing a Special Payment which is not to be promptly distributed on the date received shall, to the extent practicable, be invested in Permitted Government Investments by the Trustee in Permitted Investments selected by accordance with the written directions of the Company in written instructions to the Trustee pending distribution of such Special Payment pursuant to Section 4.02. Absent In the event written investment directions are not received by the Trustee, such money shall remain uninvested, pending receipt of such instructions from the Company, such Special Payment shall remain uninvested by the Trustee pending receipt of written investment instructionsdirections. Any investment made pursuant to this Section 4.04 shall be in such Permitted Government Investments having maturities not later than the date that such moneys are required to be used to make the payment required under Section 4.02 on the applicable Special Distribution Date and the Trustee shall hold any such Permitted Government Investments until maturity. The Trustee shall have no liability with respect to any investment made pursuant to this Section 4.04, other than by reason of the willful misconduct or negligence of the Trustee. All income and earnings from such investments shall be distributed on such Special Distribution Date as part of such Special Payment.

Appears in 1 contract

Samples: Trust Agreement (General American Railcar Corp Ii)

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