Laserfiche WebLink
EXHIBIT D <br />PERMITTED INVESTMENTS (MODIFIED AS OF JULY 19, 1993) <br />A. AMBAC Indemnity will allow the following obligations to be used as Permitted <br />Investments for all purposes, including defeasance investments in refunding escrow <br />accounts. <br />(AMBAC Indemnity does not give a premium credit for the investment of accrued <br />and/or capitalized interest.) <br />(1) Cash (insured at all times by the Federal Deposit Insurance Corporation or <br />otherwise collateralized with obligations described in paragraph (2) below), or <br />(2) Direct obligations of (including obligations issued or held in book entry form on the <br />books of) the Department of the Treasury of the United States of America. <br />B. AMBAC Indemnity will allow the following Obligations to be used as Permitted <br />Investments for all purposes other than defeasance investments in refunding escrow <br />accounts. <br />(1) obligations of any of the following federal agencies which obligations represent the <br />full faith and credit of the United States of America, including: <br />— Export -Import Bank <br />— Farm Credit System Financial Assistance Corporation <br />— Farmers Home Administration <br />— General Services Administration <br />— U.S. Maritime Administration <br />— Small Business Administration <br />— Government National Mortgage Association (GNMA) <br />— U.S. Department of Housing & Urban Development (PHA's) <br />— Federal Housing Administration; <br />(2) senior debt obligations rated "AAA" by Standard & Poor's Corporation (S&P) and <br />"Aaa" by Moody's Investors Service, Inc. (Moody's) issued by the Federal National <br />Mortgage Association or the Federal Home Loan Mortgage Corporation. Senior <br />debt obligations of other Government Sponsored Aaencies approved by AMBAC <br />Indemnity: <br />7 <br />