Eligible Escrow Investments

Eligible Escrow Investments. (a) direct obligations of the United States of America or an agency thereof or obligations the principal of and the interest on which are unconditionally guaranteed by the United States of America or an agency thereof, in each case maturing not more than 90 days from the date of purchase; (b) U.S. dollar denominated institutional money market funds governed by Rule 2a-7 under the Investment Company Act of 1940 and rated "Aaam" by S&P and "Aaam" by Moody's, including funds managed by the Escrow... Agent or any of its affiliates; (c) U.S. dollar denominated deposit accounts, U.S. time deposits or Eurodollar time deposits, maturing not more than 90 days from the date of purchase, with commercial banks which have a rating on their short-term deposits on the date of deposit or purchase of "A-1" or "A-l+" by S&P and "P-1" by Moody's (ratings on holding companies are not considered as the rating of the bank) and which have a combined capital and surplus of not less than $500,000,000 as set forth in their most recent annual report of condition; or (d) U.S. dollar denominated commercial paper maturing not more than 90 days from the date of purchase with ratings on the date of purchase of "A-1" or "A-l+" by S&P and "P-1" by Moody's; provided that the Escrow Agent will not be directed to invest in investments that the Escrow Agent in its sole reasonable discretion determines are not administratively feasible with the Escrow Agent's policy or practices View More

Eligible Escrow Investments. (i) investments in money market funds registered under the Federal Investment Company Act of 1940, whose shares are registered under the Securities Act of 1933, as amended, and rated "AAAm" or "AAAm-G" or better by S&P and "Aaa," "Aa1" or "Aa2" by Moody's, including any such money market fund for which the Escrow Agent or any of its Affiliates serves as investment manager, administrator, shareholder servicing agent and/or custodian and (ii) deposits in a noninterest-bearing account with the... Escrow Agent; provided that such account has full FDIC coverage at least through the Duke Midwest Assets Acquisition Deadline with respect to the Finance I Escrow Accounts or the EquiPower Acquisition Deadline with respect to the Finance II Escrow Accounts. View More