Common use of Upon Issuer Clause in Contracts

Upon Issuer. Order all or a portion of the Pre-Funding 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 Trustee shall invest funds in the Pre-Funding Account in Eligible Investments described in clause (vi) of the definition thereof. All income or other gain from such investments shall be credited to such Pre-Funding Account and any loss resulting from such investments shall be charged to such Pre-Funding Account; provided, however, that the Issuer shall make or cause to be made on any Determination Date a deposit to the Pre-Funding Account to the extent of any losses therein caused as a result of the Issuer's investment instructions. No Eligible Investment shall mature later than the Business Day preceding the Subsequent Transfer Date or, if later the end of the Funding Period and shall not be sold or disposed of prior to its maturity. Eligible Investments shall be made in the name of the Trustee for the benefit of the Noteholders. The Trustee shall provide to the Servicer monthly written confirmation of such investments, describing the Eligible Investments in which such amounts have been invested. Any funds not so invested must be insured by the Federal Deposit Insurance Corporation.

Upon Issuer. Order all or a portion of the Pre-Funding Capitalized Interest 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 Trustee shall invest funds in the Pre-Funding Capitalized Interest Account in Eligible Investments described in clause (vi) of the definition thereof. All income or other gain from such investments shall be credited to such Pre-Funding Account the Capitalized Interest Account, and any loss resulting from such investments shall be charged to such Pre-Funding the Capitalized Interest Account; provided, however, that the Issuer shall make or cause to be made on any Determination Remittance Date a deposit to the Pre-Funding Capitalized Interest Account to the extent of any losses therein caused as a result of the Issuer's investment instructions. No Eligible Investment shall mature later than the Business Day preceding the Subsequent Transfer next following Payment Date or, if later the end of the Funding Period and shall not be sold or disposed of prior to its maturity. Eligible Investments shall be made in the name of the Trustee for the benefit of the Noteholders. The 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. Any funds not so invested must be insured by the Federal Deposit Insurance Corporation.