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Section 4 . 03 . Investment or Deposit of Funds. The Trustee <br /> shall invest money held in the Lease Payment Fund at the written <br /> direction of the City. In the absence of such written direction, <br /> the Trustee shall invest funds in investments described in <br /> paragraph (v) of the definition of Qualified Investments herein. <br /> All such investments shall mature not later than the date when the <br /> amounts will foreseeably be needed for timely payment of the <br /> Certificates or for purposes of this Agreement. The Trustee shall <br /> also, at the written direction of the City, sell any such <br /> investment and deposit the proceeds in the Lease Payment Fund. The <br /> investments permitted hereunder shall include only Qualified <br /> Investments. The Trustee shall not be held liable for any loss on <br /> any investment made pursuant to the Section. <br /> If the Trustee has been informed that, or has learned that, <br /> an Event of Default has occurred and is continuing, the Trustee <br /> shall invest any available moneys held in the Lease Payment Fund <br /> in short-term direct obligations of the United States Government. <br /> Any securities purchased with the money in the Lease Payment <br /> Fund shall be deemed part of such Fund and, for the purpose of <br /> determining the amount of money in such Fund, the securities <br /> therein shall be valued at their cost or market, whichever is <br /> lower. The earnings of any such investment (including interest or <br /> realized discount) shall be deposited to the Lease Payment Fund. <br /> The Trustee may, and to the extent required for payments from <br /> the Lease Payment Fund, shall sell without prior notice to the City <br /> any such obligation at any time, and the proceeds of such sale, and <br /> of all payments at maturity and upon redemption of such invest- <br /> ments, shall be held in the Lease Payment Fund. The Trustee shall <br /> not be liable for losses incurred by reason of purchases or sales <br /> of investments made in accordance with this section. <br /> All interest or income received in the Lease Payment Fund <br /> shall be held therein with a corresponding credit against the <br /> City's obligation to make Lease Payments under the Lease. The <br /> Trustee may make any or all investments permitted by the provisions <br /> of this Section 4 . 03 through its own investment department. <br /> ARTICLE V <br /> EVENTS OF DEFAULT AND REMEDIES <br /> Section 5. 01. Events of Default Defined. Each of the <br /> following shall be an Event of Default hereunder: <br /> (a) if payment of a principal installment or prepayment <br /> price of any Certificate is not made when it becomes due and <br /> C-15 KR173 92/01/27 <br />