Common use of Collateral Account Permitted Investments Clause in Contracts

Collateral Account Permitted Investments. The Master Servicer shall, at the written direction of the Directing Holder, invest the funds in the Collateral Account in Permitted Investments. Such direction shall not be changed more frequently than quarterly. In the absence of any direction, the Master Servicer shall invest funds in the Collateral Account in accordance with the definition of Permitted Investments herein in its discretion. All income and gain realized from any investment as well as any interest earned on deposits in the Collateral Account (net of any losses on such investments) and any payments of principal made in respect of any Permitted Investment shall be deposited in the Collateral Account upon receipt. All costs associated with the purchase and sale of Collateral Account Permitted Investments shall be borne by the Directing Holder. The Directing Holder shall deposit in the Collateral Account the amount of any loss incurred in respect of any such Permitted Investments made with funds in such Collateral Account immediately upon realization of such loss. The Master Servicer shall periodically (but not more frequently than monthly) distribute to the Directing Holder upon request an amount of cash, to the extent cash is available therefor in the Collateral Account, equal to the amount by which the balance of the Collateral Account, after giving effect to all other distributions to be made from the Collateral Account on such date, exceeds the Required Collateral Account Balance. Any amounts so distributed shall be released from the lien and security interest created pursuant of Section 9.08 of this Agreement.

Collateral Account Permitted Investments. The Master Servicer shall, at the written direction of the Directing Holder, invest the funds in the Collateral Account in Permitted Investments. Such direction shall not be changed more frequently than quarterly. In the absence of any direction, the Master Servicer shall invest funds in the Collateral Account in accordance with the definition of Permitted Investments herein in its discretion. All income and gain realized from any investment as well as any interest earned on deposits in the Collateral Account (net of any losses on such investments) and any payments of principal made in respect of any Permitted Investment shall be deposited in the Collateral Account upon receipt. All costs associated with the purchase and sale of Collateral Account Permitted Investments shall be borne by the Directing Holder. The Directing Holder shall deposit in the Collateral Account the amount of any loss incurred in respect of any such Permitted Investments made with funds in such Collateral Account immediately upon realization of such loss. The Master Servicer shall periodically (but not more frequently than monthly) distribute to the Directing Holder upon request an amount of cash, to the extent cash is available therefor in the Collateral Account, equal to the amount by which the balance of the Collateral Account, after giving effect to all other distributions to be made from the Collateral Account on such date, exceeds the Required Collateral Account Balance. Any amounts so distributed shall be released from the lien and security interest created pursuant of Section 9.08 7.08 of this Agreement.