Permitted Investments are. : (a) Investments shown on the Schedule and existing on the Closing Date; (b) Investments expressly permitted by this Agreement; (c) Investments permitted by Borrower's investment policy, as adopted by Borrower's board of directors and approved by Silicon, which approval shall not be unreasonably withheld; -18- Silicon Valley Bank Loan and Security Agreement (d) Strategic Investments in customers, vendors, suppliers and the Persons in the same industries as
... Borrower and its Subsidiaries, including the exercise of warrants to purchase capital stock of such Persons, in an aggregate amount not to exceed $200,000 per year; (e) Investments pursuant to or arising under agreements or interest rate agreements entered into in the ordinary course of business; (f) Investments (including debt obligations) received in connection with the bankruptcy or reorganization of customers or suppliers and in settlement of delinquent obligations of, and other disputes with, customers or suppliers, arising in the ordinary course of business, it being understood that such investments are part of the Collateral and shall be promptly delivered to Silicon with any necessary endorsement; (g) Investments consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and suppliers who are not Affiliates, in the ordinary course of business, it being understood that any such investments consisting of notes receivables are part of the Collateral and shall be promptly delivered to Silicon with any necessary endorsement; and (h) marketable direct obligations issued or unconditionally guaranteed by the United States or its agency or any State maturing within 1 year from its acquisition, (ii) commercial paper maturing no more than 1 year after its creation and having the highest rating from either Standard & Poor's Corporation or Moody's Investors Service, Inc., and (iii) Bank's certificates of deposit issued maturing no more than 1 year after issue.
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