Common use of Investment of Trust Funds Clause in Contracts

Investment of Trust Funds. Unless otherwise directed in writing by the Owners, income with respect to and proceeds of the Trust Estate which are received by the Owner Trustee more than one day prior to a distribution date shall be invested and reinvested by the Owner Trustee in accordance with the written direction of the Depositor. All such investments shall have a maturity date no later than the Business Day preceding the next distribution date unless they are redeemable at the option of the Owner Trustee prior to maturity. Interest earned from such investment and reinvestment shall be credited to the Trust Estate.

Appears in 8 contracts

Samples: Trust Agreement (SLC Student Loan Trust 2004-1), Trust Agreement (SLC Student Loan Trust 2006-1), Trust Agreement (SLC Student Loan Receivables I Inc)

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Investment of Trust Funds. Unless otherwise directed in writing by the Owners, income Income with respect to and proceeds of the Trust Estate which are received by the Owner Trustee more than one day prior to a distribution date Distribution Date shall be invested and reinvested by the Owner Trustee in Eligible Investments in accordance with the written direction of the DepositorServicer. All such investments shall have a maturity date no later than the Business Day preceding the next distribution date Distribution Date unless they are redeemable at the option of the Owner Trustee prior to maturity. Interest earned from such investment and reinvestment shall be credited to the Trust Estate.

Appears in 7 contracts

Samples: Trust Agreement (SLC Student Loan Trust 2010-1), Trust Agreement (SLC Student Loan Receivables I Inc), Trust Agreement (SLC Student Loan Trust 2008-1)

Investment of Trust Funds. Unless otherwise directed in writing by the Owners, income Income with respect to and proceeds of the Trust Estate which are received by the Owner Trustee more than one day prior to a distribution date shall be invested and reinvested by the Owner Trustee in Eligible Investments in accordance with the written direction of the DepositorServicer. All such investments shall have a maturity date no later than the Business Day preceding the next distribution date unless they are redeemable at the option of the Owner Trustee prior to maturity. Interest earned from such investment and reinvestment shall be credited to the Trust Estate.

Appears in 2 contracts

Samples: Trust Agreement (SLC Student Loan Trust 2007-2), Trust Agreement (Wells Fargo Student Loans Receivables I LLC)

Investment of Trust Funds. Unless otherwise directed in writing by the Owners, income with respect to and proceeds of the Trust Estate Property which are received by the Owner Trustee more than one day prior to a distribution date shall be invested and reinvested by the Owner Trustee in accordance with the written direction of the Depositoreligible investments. All such investments shall have a maturity date no later than the Business Day preceding the next distribution date unless they are redeemable at the option of the Owner Trustee prior to maturity. Interest earned from such investment and reinvestment shall be credited to the Trust EstateProperty.

Appears in 1 contract

Samples: Amended and Restated Trust Agreement (SLC Student Loan Receivables I Inc)

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Investment of Trust Funds. Unless otherwise directed in writing by the Owners, income with respect to and proceeds of the Trust Estate Property which are received by the Owner Trustee more than one day prior to a distribution date Distribution Date shall be invested and reinvested by the Owner Trustee in accordance with the written direction of the DepositorEligible Investments. All such investments shall have a maturity date no later than the Business Day preceding the next distribution date Distribution Date unless they are redeemable at the option of the Owner Trustee prior to maturity. Interest earned from such investment and reinvestment shall be credited to the Trust Estate.Property. 5.02

Appears in 1 contract

Samples: Amended and Restated Trust Agreement (SLC Student Loan Receivables I Inc)

Investment of Trust Funds. Unless otherwise directed in writing by the Owners, income with respect to and proceeds of the Trust Estate which Property that are received by the Owner Trustee more than one day prior to a distribution date shall be invested and reinvested by the Owner Trustee in accordance with the written direction of the DepositorEligible Investments. All such investments shall have a maturity date no later than the Business Day preceding the next distribution date unless they are redeemable at the option of the Owner Trustee prior to maturity. Interest earned from such investment and reinvestment shall be credited to the Trust EstateProperty.

Appears in 1 contract

Samples: Trust Agreement (Pheaa Student Loan Foundation Inc)

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