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and to make copies of all books and records relating to <br />the Bonds at any reasonable time. <br />AMBAC Indemnity shall have the right to direct an <br />accounting at the Commission's expense, and the <br />Commission's failure to comply with such direction within <br />thirty (30) days after receipt of written notice of the <br />direction from AMBAC Indemnity shall be deemed a default <br />hereunder; provided, however, that if compliance cannot <br />occur within such period, then such period will be <br />extended so long as compliance is begun within such <br />period and diligently pursued, but only if such extension <br />would not materially adversely affect the interests of <br />any registered owner of the Bonds. <br />Notwithstanding any other provision of this <br />Resolution, the Commission shall immediately notify AMBAC <br />Indemnity if at any time there are insufficient moneys to <br />make any payments of principal and /or interest as <br />required and immediately upon the occurrence of any event <br />of default hereunder. <br />(d) <br />obligatio: <br />purposes, <br />refunding <br />investing <br />interest: <br />Permitted Investments. The following <br />ns may be used as permitted investments for all <br />including (i) as defeasance investments in <br />escrow accounts and (ii) for the purpose of <br />(and receiving premium credit for) accrued <br />(1) cash (insured at all times by the Federal <br />Deposit Insurance Corporation or <br />otherwise collateralized with obligations <br />described in paragraph (2) below), and <br />(2) direct obligations of (including <br />obligations issued or held in book entry <br />form on the books of) the Department of <br />the Treasury of the United States of <br />America. <br />The following Obligations may be used as permitted <br />investments for all purposes other than: (i) defeasance <br />investments in refunding escrow accounts and (ii) <br />investing (and receiving credit for) accrued interest: <br />(1) obligations of any of the following <br />federal agencies which obligations <br />represent full faith and credit of the <br />United States of America, including: <br />Export - Import Bank <br />Farmers Home Administration <br />General Services Administration <br />-4- <br />