Common use of Administration of the Reserve Account Clause in Contracts

Administration of the Reserve Account. Funds on deposit in the ------------------------------------- Reserve Account on any Transfer Date, after giving effect to any deposits to or withdrawals from the Reserve Account on such Transfer Date, shall be invested by the Trustee at the direction of the Servicer in Permitted Investments that will mature so that such funds will be available for withdrawal on or prior to the following Transfer Date; and provided, -------- further, that each Permitted Investment shall mature such that such ------- Permitted Investment shall be available for withdrawal on or prior to the following Transfer Date. The Trustee shall maintain, either on its own behalf or through its nominee or custodian, on behalf of the Class A Certificateholders, possession of any certificated negotiable instrument or security (other than certificated securities held by a clearing corporation) evidencing the Permitted Investments made pursuant to this subsection 4.9(b) described in clause (a) of the definition of "Permitted Investments" from the time of purchase thereof until the time of sale or maturity. No Permitted Investment shall be disposed of prior to its maturity. On each Transfer Date, all interest and earnings (net of losses and investment expenses) accrued since the preceding Transfer Date on funds on deposit in the Reserve Account shall be retained in the Reserve Account to the extent that the Available Reserve Account Amount is less than the Required Reserve Account Amount; and the balance, if any, shall be deposited into the Finance Charge Account and included in Class A Available Funds for such Transfer Date. For purposes of determining the availability of funds or the balances in the Reserve Account for any reason under this Agreement, except as otherwise provided in this paragraph, all investment earnings on such funds shall be deemed not to be available or on deposit.

Administration of the Reserve Account. Funds on deposit in the ------------------------------------- Reserve Account on any Transfer Date, after giving effect to any deposits to or withdrawals from the Reserve Account on such Transfer Date, shall be invested by the Trustee at the direction of the Servicer in Permitted Investments that will mature so that such funds will be available for withdrawal on or prior to the following Transfer Date; and provided, -------- further, that each Permitted Investment shall mature such that such ------- Permitted Investment shall be available for withdrawal on or prior to the following Transfer Date. The Trustee shall maintain, either on its own behalf or through its nominee or custodian, on behalf of the Class A Certificateholders, possession of any certificated negotiable instrument or security (other than certificated securities held by a clearing corporation) evidencing the Permitted Investments made pursuant to this subsection 4.9(b) described in clause (a) of the definition of "Permitted Investments" from the time of purchase thereof until the time of sale or maturity. No Permitted Investment shall be disposed of prior to its maturity. On each Transfer Date, all interest and earnings (net of losses and investment expenses) accrued since the preceding Transfer Date on funds on deposit in the Reserve Account shall be retained in the Reserve Account to the extent that the Available Reserve Account Amount is less than the Required Reserve Account Amount; and the balance, if any, shall be deposited into the Finance Charge Account and included in Class A Available Funds for such Transfer Date. For purposes of determining the availability of funds or the balances in the Reserve Account for any reason under this Agreement, except as otherwise provided in this paragraph, all investment earnings on such funds shall be deemed not to be available or on deposit.

Administration of the Reserve Account. Funds on deposit in the ------------------------------------- Reserve Account on any Transfer Date, after giving effect to any deposits to or withdrawals from the Reserve Account on such Transfer Date, shall be invested by the Trustee at the direction of the Servicer in Permitted Investments that will mature so that such funds will be available for withdrawal on or prior to the following Transfer Date; and provided, -------- further, that each Permitted Investment shall mature such that -------- ------- such ------- Permitted Investment shall be available for withdrawal on or prior to the following Transfer Date. The Trustee shall maintain, either on its own behalf or through its nominee or custodian, on behalf of the Class A Certificateholders, possession of any certificated negotiable instrument or security (other than certificated securities held by a clearing corporation) evidencing the Permitted Investments made pursuant to this subsection 4.9(b) described in clause (a) of the definition of "Permitted Investments" from the time of purchase thereof until the time of sale or maturity. No Permitted Investment shall be disposed of prior to its maturity. On each Transfer Date, all interest and earnings (net of losses and investment expenses) accrued since the preceding Transfer Date on funds on deposit in the Reserve Account shall be retained in the Reserve Account to the extent that the Available Reserve Account Amount is less than the Required Reserve Account Amount; and the balance, if any, shall be deposited into the Finance Charge Account and included in Class A Available Funds for such Transfer Date. For purposes of determining the availability of funds or the balances in the Reserve Account for any reason under this Agreement, except as otherwise provided in this the preceding paragraph, all investment earnings on such funds shall be deemed not to be available or on deposit.

Administration of the Reserve Account. Funds on deposit in the ------------------------------------- Reserve Account on any Transfer Date, after giving effect to any deposits to or withdrawals from the Reserve Account on such Transfer Date, shall be invested by the Trustee at the direction of the Servicer in Permitted Investments that will mature so that such funds will be available for withdrawal on or prior to the following Transfer Date; and provided, -------- further, that each Permitted Investment shall mature such that such ------- Permitted Investment shall be available for withdrawal on or prior to the following Transfer Date. The Trustee shall maintain, either on its own behalf or through its nominee or custodian, on behalf of the Class A Certificateholders, possession of any certificated negotiable instrument or security (other than certificated securities held by a clearing corporation) evidencing the Permitted Investments made pursuant to this subsection 4.9(b) described in clause (a) of the definition of "Permitted Investments" from the time of purchase thereof until the time of sale or maturity. No Permitted Investment shall be disposed of prior to its maturity. On each Transfer Date, all interest and earnings (net of losses and investment expenses) accrued since the preceding Transfer Date on funds on deposit in the Reserve Account shall be retained in the Reserve Account to the extent that the Available Reserve Account Amount is less than the Required Reserve Account Amount; and the balance, if any, shall be deposited into the Finance Charge Account and included in Class A Available Funds for such Transfer Date. For purposes of determining the availability of funds or the balances in the Reserve Account for any reason under this Agreement, except as otherwise provided in this the preceding paragraph, all investment earnings on such funds shall be deemed not to be available or on deposit.

Administration of the Reserve Account. Funds on deposit in ------------------------------------- the ------------------------------------- Reserve Account on any Transfer Date, after giving effect to any deposits to or withdrawals from the Reserve Account on such Transfer Date, shall be invested by the Trustee at the direction of the Servicer in Permitted Investments that will mature so that such funds will be available for withdrawal on or prior to the following Transfer Date; and provided, -------- further, that each Permitted Investment shall -------- ------- mature such that such ------- Permitted Investment shall be available for withdrawal on or prior to the following Transfer Date. The Trustee shall maintain, either on its own behalf or through its nominee or custodian, on behalf of the Class A Certificateholders, possession of any certificated negotiable instrument or security (other than certificated securities held by a clearing corporation) evidencing the Permitted Investments made pursuant to this subsection 4.9(b) described in clause (a) of the definition of "Permitted Investments" from the time of purchase thereof until the time of sale or maturity. No Permitted Investment shall be disposed of prior to its maturity. On each Transfer Date, all interest and earnings (net of losses and investment expenses) accrued since the preceding Transfer Date on funds on deposit in the Reserve Account shall be retained in the Reserve Account to the extent that the Available Reserve Account Amount is less than the Required Reserve Account Amount; and the balance, if any, shall be deposited into the Finance Charge Account and included in Class A Available Funds for such Transfer Date. For purposes of determining the availability of funds or the balances in the Reserve Account for any reason under this Agreement, except as otherwise provided in this the preceding paragraph, all investment earnings on such funds shall be deemed not to be available or on deposit.

Administration of the Reserve Account. Funds on deposit in the ------------------------------------- Reserve Account on any Transfer Date, after giving effect to any deposits to or withdrawals from the Reserve Account on such Transfer Date, shall be invested by the Trustee at the direction of the Servicer in Permitted Investments that will mature so that such funds will be available for withdrawal on or prior to the following Transfer Date[; provided, however, that no such investment shall be -------- ------- made before 2:00 p.m. (New York City time) on such Transfer Date;] and provided, -------- further, that each Permitted Investment shall mature such that such not later than the Business ------- Permitted Investment shall be available for withdrawal on or prior to Day preceding the following Transfer Date. The Trustee shall maintain, either on its own behalf or through its nominee or custodian, on behalf of the Class A Certificateholders, possession of any certificated negotiable instrument or security (other than certificated securities held by a clearing corporation) evidencing the Permitted Investments made pursuant to this subsection 4.9(b) described in clause (a) of the definition of "Permitted Investments" from the time of purchase thereof until the time of sale or maturity. No Permitted Investment shall be disposed of prior to its maturity. On each Transfer Date, all interest and earnings (net of losses and investment expenses) accrued since the preceding Transfer Date on funds on deposit in the Reserve Account shall be retained in the Reserve Account (to the extent that the Available Reserve Account Amount is less than the Required Reserve Account Amount; ) and the balance, if any, shall be deposited into the Finance Charge Account and included in Class A Available Funds for such Transfer Date. For purposes of determining the availability of funds or the balances in the Reserve Account for any reason under this Agreement, except as otherwise provided in this the preceding paragraph, all investment earnings on such funds shall be deemed not to be available or on deposit.