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(d) After the Initial Mandatory Tender Date, the Trustee shall invest such amounts in
obligations specified in clause (b) of the definition of Eligible Investments or in an Eligible Investment, as
directed in writing by the Borrower.
(e) Any investment hereunder shall not bear a yield which is in excess of the yield on the
Bonds; provided that the Trustee has no duty to monitor the yield on any investment or any obligation to
limit the yield on any investment the Borrower directs the Trustee to make or that the Trustee otherwise
makes pursuant to this Indenture. Investments permitted under this Section may be purchased from the
Trustee or from any of its affiliates and they may charge their customary fees. The Trustee shall have no
liability whatsoever for any loss, fee, tax or other charge incurred in connection with any investment,
reinvestment, sale or liquidation of an investment hereunder. The Trustee shall be entitled to rely on any
written direction of the Borrower as to the suitability and legality of the directed investments and such
written direction shall be deemed to be a certification that such directed investments constitute Eligible
Investments. Ratings of Eligible Investments shall be determined at the time of initial purchase of such
Eligible Investments and without regard to ratings subcategories and the Trustee shall have no responsibility
to monitor the ratings of Eligible Investments including at the time of reinvestment of earnings thereof.
The Trustee shall have no responsibility whatsoever to determine whether any investments made pursuant
to this Indenture are or continue to be Eligible Investments. Any deposit or investment directed by the
Borrower shall constitute a certification by the Borrower to the Trustee that the assets so deposited or to be
purchased pursuant to such directions are Eligible Investments. In no event shall the Trustee be deemed an
investment manager or adviser in respect of any selection of investments hereunder.
(f) As long as no Event of Default shall have occurred and be continuing, the Borrower shall
have the right to designate the investments to be sold and to otherwise direct the Trustee in the sale or
purchase of the investments made with the money in the Special Funds provided that the Trustee shall be
entitled to conclusively assume the absence of any such Event of Default unless the Responsible Officer of
the Trustee has notice thereof as described in Section 6.02(f); if there has been an Event of Default, the
Trustee shall have the right to direct the sale of investments. In the absence of such directions from the
Authorized Borrower Representative, the Trustee shall invest the proceeds of maturing investments in the
Special Funds in Eligible Investments having a maturity date not longer than the earlier of 30 days from the
date of purchase, the next Mandatory Tender Date or the Maturity Date, as applicable; provided that if
applicable, the Trustee shall invest in United States Treasury Obligations–State and Local Government
Series (“SLGS”) that are “Time Deposit” SLGS (and not in “Demand Deposit” SLGS).
(g) The investments described in this Section shall be made by the Trustee pursuant to the
direction provided hereby and in accordance with the written direction of the Borrower to be provided on
the Closing Date, which shall remain in effect unless and until further written direction is provided by the
Borrower.
(h) Amounts, if any, on deposit in the Costs of Issuance Fund shall be invested at the written
direction of the Borrower in Eligible Investments until disbursed or returned to the Borrower pursuant to
the provisions described under Section 5.13 hereof.
(i) The Borrower acknowledges that to the extent that regulations of the Comptroller of the
Currency grant the Borrower the right to receive brokerage confirmations of security transactions as they
occur, the Borrower specifically waives such right to notification to the extent permitted by law and
acknowledges that it will receive periodic transaction statements that will detail all investment transactions.
Section 5.06 Money to Be Held in Trust. Except where money has been deposited with or
paid to the Trustee pursuant to an instrument restricting their application to particular Bonds, all money
required or permitted to be deposited with or paid to the Trustee or the Paying Agent under any provision
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