Common use of Upon Issuer Order Clause in Contracts

Upon Issuer Order. all or a portion of the Liquidity Account shall be invested and reinvested at the Issuer's written direction in one or more Eligible Investments. In the absence of an Issuer Order, the Indenture Trustee shall invest funds in the Liquidity Account in Eligible Investments described in clause (vii) of the definition of Eligible Investments. All income or other gain from such investments shall be credited to such Liquidity Account and any loss resulting from such investments shall be charged to such Liquidity Account; provided, however, that the Issuer shall make or cause to be made on any Calculation Date a deposit to the Liquidity Account to the extent of any losses therein caused as a result of the Issuer's investment instructions. All investment earnings on funds held in the Liquidity Account will be retained therein to the extent needed to pay the expenses for which the funds were deposited into such account, except as otherwise directed by the Majority Noteholders. No Eligible Investment shall mature later than the Business Day preceding the next following Payment Date and shall not be sold or disposed of prior to its maturity. Eligible Investments shall be made in the name of the Indenture Trustee for the benefit of the Noteholders. The Indenture Trustee shall provide to the Servicer monthly written confirmation of such investments, describing the Eligible Investments in which such amounts have been invested.

Upon Issuer Order. all or a portion of the Liquidity Prefunding Account shall be invested and reinvested at the Issuer's written direction in one or more Eligible Investments. In the absence of an Issuer Order, the Indenture Trustee shall invest funds in the Liquidity Prefunding Account in Eligible Investments described in clause (viivi) of the definition of Eligible Investmentsthereof. All income or other gain from such investments shall be credited to such Liquidity Account the Prefunding Account, and any loss resulting from such investments shall be charged to such Liquidity the Prefunding Account; provided, however, that the Issuer shall make or cause to be made on any Calculation Remittance Date a deposit to the Liquidity Prefunding Account to the extent of any losses therein caused as a result of the Issuer's investment instructions. All investment earnings on funds held in the Liquidity Account will be retained therein to the extent needed to pay the expenses for which the funds were deposited into such account, except as otherwise directed by the Majority Noteholders. No Eligible Investment shall mature later than the Business Day preceding the next following Payment Date and shall not be sold or disposed of prior to its maturity. Eligible Investments shall be made in the name of the Indenture Trustee for the benefit of the Noteholders. The Indenture Trustee shall provide to the Servicer a monthly written confirmation of account statement showing deposits and withdrawals in such month and listing such investments, describing the Eligible Investments in which such amounts have been invested.