Common use of Investments of Cash Clause in Contracts

Investments of Cash. (a) So long as no Event of Default has occurred and is continuing, the Servicer (on behalf of the Issuer) may direct the Trustee in writing to invest and reinvest the funds on deposit in the Collection Account in Eligible Investments, to the extent such Eligible Investments are available to the Trustee, and advise the Trustee in writing of any depositary institution or trust company described in the proviso to the definition of Eligible Investments; provided, however, that, so long as an Event of Default has occurred and is continuing, the Trustee shall invest such amount in Eligible Investments described in clause (a) of the definition thereof from the time of receipt thereof until such time as such amounts are required to be distributed pursuant to the terms of this Indenture. In the absence of written direction delivered to the Trustee from the Servicer, the Trustee shall invest any funds in Eligible Investments described in clause (a) of the definition thereof. The Trustee shall make such investments and reinvestments in accordance with the terms of the following provisions:

Appears in 4 contracts

Samples: Indenture (Theravance Biopharma, Inc.), Indenture (Theravance Biopharma, Inc.), Indenture (Innoviva, Inc.)

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Investments of Cash. (a) So long as no Event of Default has occurred and is continuing, the Servicer (on behalf of the Issuer) Issuer may direct the Trustee in writing to invest and reinvest the funds on deposit in the Collection Account in Eligible Investments, to the extent such Eligible Investments are available to the TrusteeOperating Bank, and advise the Trustee in writing of any depositary depository institution or trust company described in the proviso to the definition of Eligible Investments; provided, however, that, so long as an Event of Default has occurred and is continuing, the Trustee shall direct the Operating Bank to invest such amount in Eligible Investments described in clause (a) of the definition thereof from the time of receipt thereof until such time as such amounts are required to be distributed pursuant to the terms of this Indenture. In the absence of written direction delivered to the Trustee from the ServicerIssuer, the Trustee shall direct the Operating Bank to invest any funds in Eligible Investments described in clause (a) of the definition thereof. The Trustee shall direct the Operating Bank to make such investments and reinvestments in accordance with the terms of the following provisions:

Appears in 2 contracts

Samples: Indenture (Ironwood Pharmaceuticals Inc), Indenture (Ironwood Pharmaceuticals Inc)

Investments of Cash. (a) So long as no Event of Default has occurred and is continuingThe Issuer or the Servicer, the Servicer (on behalf of the Issuer) may its behalf, shall direct the Trustee in writing to invest and reinvest the funds on deposit in the Collection Account Accounts in Eligible Investments, to the extent such Eligible Investments are available to the Trusteerelevant Operating Bank, and advise the Trustee in writing of any depositary depository institution or trust company described in the proviso to the definition of Eligible Investments; provided, however, that, so long as an Event of Default has occurred and is continuing, the Trustee shall direct each Operating Bank to invest such amount in Eligible Investments described in clause (ad) of the definition thereof from the time of receipt thereof until such time as such amounts are required to be distributed pursuant to the terms of this Indenture. In the absence of written direction delivered to the Trustee from the Issuer or the Servicer, the Trustee shall direct each Operating Bank to invest any funds in Eligible Investments described in clause (ad) of the definition thereof. The Trustee shall direct each Operating Bank to make such investments and reinvestments in accordance with the terms of the following provisions:

Appears in 1 contract

Samples: Indenture (Supernus Pharmaceuticals Inc)

Investments of Cash. (a) So long as no Event of Default has occurred and is continuing, the Servicer (on behalf of the Issuer) may direct the Trustee in writing to invest and reinvest the funds on deposit in the Collection Account in Eligible Investments, to the extent such Eligible Investments are available to the Trusteerelevant Operating Bank, and advise the Trustee in writing of any depositary depository institution or trust company described in the proviso to the definition of Eligible Investments; provided, however, that, so long as an Event of Default has occurred and is continuing, the Trustee shall direct each Operating Bank to invest such amount in Eligible Investments described in clause (a) of the definition thereof from the time of receipt thereof until such time as such amounts are required to be distributed pursuant to the terms of this Indenture. In the absence of written direction delivered to the Trustee from the Servicer, the Trustee shall direct each Operating Bank to invest any funds in Eligible Investments described in clause (a) of the definition thereof. The Trustee shall direct each Operating Bank to make such investments and reinvestments in accordance with the terms of the following provisions:

Appears in 1 contract

Samples: Indenture (PDL Biopharma, Inc.)

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Investments of Cash. The Issuer (a) So long as no Event of Default has occurred and is continuingor any Servicer, the Servicer (on behalf of the Issuerits behalf) may direct the Trustee in writing to invest and reinvest the funds on deposit in the Collection Account Accounts in Eligible Investments, to the extent such Eligible Investments are available to the Trusteerelevant Operating Bank, and advise the Trustee in writing of any depositary depository institution or trust company described in the proviso to the definition of Eligible Investments; provided, however, that, so long as an Event of Default has occurred and is continuing, the Trustee shall direct each Operating Bank to invest such amount in Eligible Investments described in clause (a) of the definition thereof from the time of receipt thereof until such time as such amounts are required to be distributed pursuant to the terms of this Indenture. In the absence of written direction delivered to the Trustee from the Issuer (or any Servicer), the Trustee shall direct each Operating Bank to invest any funds in Eligible Investments described in clause (a) of the definition thereof. The Trustee shall direct each Operating Bank to make such investments and reinvestments in accordance with the terms of the following provisions:

Appears in 1 contract

Samples: Indenture (Indevus Pharmaceuticals Inc)

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