Agmt15 City of RWC Public Financing Authority Water Revenue Refunding Bonds

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- - I _--._. respectively, the provider must, at the direction of the City, the Authority or the Trustee, within 10 days of receipt of such direction, repay the principal of and accrued but unpaid interest on the investment, in either case with no penalty or premium to the Authoriry; (3) in the event that the provider shall default in its payment obligations, the provider's obligations under the investment agreement shall, at the direction of the City, the Authority or the Trustee, be accelerated and, amounts invested and accrued but unpaid interest thereon sha{I be repaid to the Authoriry or the Trustee, as appropriate; and (4) should the provider become insolvent, not pay its debts as they become due, be declared or petition to be declared bankrupt, etc. ("event of insolvency"), the provider's obligations shall automatically be accelerated and amounts invested and accrued but unpaid interest thereon shall be repaid to the Authority or the Trustee, as appropriate. For purposes of this definition, a rating category includes any rating with the same letter, regardless of the modifier. For purposes of illustration, "A", "A+° and "A-" are in the "A" rating category. 7. Commercial paper rated, at the time of purchase, "Prime -1" by Moody's and "A�1" or better by S8�P. � , 8. Bonds or notes issued by any state or municipality which are rated by Moody's and S&P in one of the two highest rating categories assigned by such agencies. 9. Federal funds or bankers acceptances with a maximum term of one year of any bank which has an unsecured, uninsured and unguaranteed obligation �ating of "Prime -1" or "A3" or better by Moody's and"A-1+" by SBP. 10. Repurchase agreements for 30 days or less must provide for the transfer of securities from a dealer bank or securities firm (seller/borrower) to the Trustee (buyer/lender), and the transfer of cash from the Trustee to the deale�bank or securities firm with an agreement that the dealer bank or securities firm will repay the cash plus a yield to the Trustee in exchange for the securities at a specified date. 11. Medium-term Notes: Corporate notes issued by corporations organized and operating within the United States with a rating of °AAA" or higher at the time of purchase by a nationally recognized rating service and with a maximum remaining maturity of no more than three (3) years after the date of purchase. 12. The Local Agency {nvestment Fund created pursuant to Section 16429.1 of the California Government Code, to the extent the Trustee is authorized to register such investment in its name. 13. The San Mateo County Pooled Investment Fund. 14. Investment Trust of California, doing business as CaITRUST. 15. Shares in a California common law trust established pursuant to Title 1, Division 7, Chapter 5 of the Government Code of the State of California which invests exclusively in investments permitted by Section 53601 of Title 5, Division 2, Chapter 4 of the Government Code of California, as it may be amended. • "Payment Account" means the account of that name established by the Trustee pursuant to Section 3.04 hereof. 8