CDH Permitted Investments. (i) (A) commercial paper of issuers organized under the laws of any state of the United States of America rated at least "A-1" by Standard and Poor's Rating Group ("S&P") and "Prime-1" by Moody's Investors Service, Inc. ("Moody's"); (B) marketable direct obligations of the United States of America with maturities of three years or less from the date of acquisition; (C) marketable obligations directly and fully
... guaranteed as to interest and principal by the United States of America with maturities of three years or less from the date of acquisition; (D) demand deposits with the Agent, and time deposits, certificates of deposit and banker's acceptances issued by (1) the Agent or (2) any member bank of the Federal Reserve System which is organized under the laws of the United States of America or any state thereof or any United States branch of a foreign bank, in each case whose long-term debt securities are rated "A" or better by S&P and "A2" or better by Moody's; (E) obligations of the Agent, any bank described in clause (D) above or any financial institution, in respect of the repurchase of obligations of the type as described in clauses (B) and (C) above, provided that such repurchase obligations shall be fully secured by obligations of the type described in said clauses (B) and (C) and the 3 3 possession of such obligations shall be transferred to, and segregated from other obligations owned by, the Agent, any such bank or such financial institution; (F) eurodollar certificates of deposit issued by the Agent or any bank described in clause (D) above; (G) marketable asset-backed securities rated at least "AA" by S&P and "Aa2" by Moody's; (H) marketable debt obligations of the Federal National Mortgage Association, the Government National Mortgage Association or the Federal Home Loan Mortgage Association secured by a pool of mortgage loans with an average life of three years or less from the date of acquisition and rated at least "AA" by S&P and at least "Aa2" by Moody's; and (I) corporate debt securities of issuers organized under the laws of any state of the United States of America with maturities of three years or less from the date of acquisition rated not less than "A" by S&P and "A2" by Moody's; provided, that for any of the securities of the types described in subclauses (A), (B), (C), (D), (E), (F), (G), (H) or (I) above to be CDH Permitted Investments in the hands of any Person (x) the weighted average maturity from any date of the securities of such types owned on such date by such Person shall not be more than one year; and (y) the value of the securities of any single issuer rated less than "AAA" by S&P and "Aaa" by Moody's (other than the United States of America or any agency thereof) owned by such Person at any time shall not constitute more than 5% of the value of all of the securities of such types owned by such Person at such time; and (ii) shares of money market mutual funds which invest exclusively in assets satisfying the requirements of subclauses (A), (B), (C), (D) or (F) of clause (i) of this definition; provided, that for any such shares of such a fund to be CDH Permitted Investments in the hands of any Person, the weighted average maturity from any date of the securities owned on such date by such fund shall not be more than one year.
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