Parent Permitted Liquidity Investments

Parent Permitted Liquidity Investments. 1.1.84 "Parent Permitted Liquid Investments" means: (a) direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the United States of America (or by any agency thereof to the extent such obligations are backed by the full faith and credit of the United States of America), in each case maturing within one year from the date of acquisition thereof; (b) investments in commercial paper maturing within 270 days from the date of acquisition... thereof and having, at such date of acquisition, the highest credit rating obtainable from Standard & Poor's Ratings Services or from Moody's Investors Service, Inc.; (c) investments in certificates of deposit, banker's acceptances and time or demand deposits maturing within 180 days from the date of acquisition thereof issued or guaranteed by or placed with, and money market deposit accounts issued or offered by, any domestic office of any commercial bank organized under the laws of the United States of America or any State thereof that has a combined capital and surplus and undivided profits of not less than U.S.$500,000,000; (d) fully collateralized repurchase agreements with a term of not more than 30 days for securities described in clause (a) above and entered into with a financial institution satisfying the criteria described in clause (c) above; and (e) "money market funds" that (i) comply with the criteria set forth in Rule 2a-7 of the Investment Company Act of 1940 (15 U.S.C. § 80a-1 et seq. ), (ii) are rated "AAA" by Standard & Poor's Ratings Services and "Aaa" by Moody's Investors Service, Inc. and (iii) have portfolio assets of at least U.S.$5,000,000,000. View More