Common use of Investment Account Clause in Contracts

Investment Account. The Master Servicer shall establish and maintain an Investment Account, which shall be an Eligible Account. The Master Servicer shall deposit or cause to be deposited into the Investment Account all Qualified Loan Receipts plus any Amount Held for Future Distribution from the Collection Account within two (2) Business Days of being deposited into the Collection Account. Except as otherwise directed by the Purchaser in writing, the Master Servicer shall cause the institution with which the Investment Account is maintained to invest the funds in the Investment Account attributable to the Qualified Loans in those Permitted Investments specified in writing by Xxxxxx Mac, which shall mature in immediately available funds not later than the day preceding the next Distribution Date and shall not be sold or disposed of prior to maturity unless otherwise directed in writing by Xxxxxx Mac. All earnings and gains realized from any such investments in the Investment Account shall be for the benefit of Xxxxxx Mac and shall be deposited in the Distribution Account, along with all Qualified Loan Receipts held in the Collection Account, on each Distribution Date. The amount of any losses or expenses incurred in connection with the investment of amounts in, withdrawals from, and the maintenance of, the Collection Account and the Investment Account shall be deducted from the amount to be distributed to Xxxxxx Mac; except that, such expenses may be so deducted only to the extent Xxxxxx Mac has concurred in the selection of such institution and form of Investment Account.

Investment Account. The Master Servicer shall establish and maintain an Investment Account, which shall be an Eligible Account. The Master Servicer shall deposit or cause to be deposited into the Investment Account all Qualified Loan Receipts plus any Amount Held for Future Distribution from the Collection Account within two (2) Business Days of being deposited into the Collection Account. Except as otherwise directed by the Purchaser in writing, the Master Servicer shall cause the institution with which the Investment Account is maintained to invest the funds in the Investment Account attributable to the Qualified Loans in those Permitted Investments specified in writing by Xxxxxx Fxxxxx Mac, which shall mature in immediately available funds not later than the day preceding the next Distribution Date and shall not be sold or disposed of prior to maturity unless otherwise directed in writing by Xxxxxx Fxxxxx Mac. All earnings and gains realized from any such investments in the Investment Account shall be for the benefit of Xxxxxx Fxxxxx Mac and shall be deposited in the Distribution Account, along with all Qualified Loan Receipts held in the Collection AccountReceipts, on each Distribution Date. The amount of any losses or expenses incurred in connection with the investment of amounts in, withdrawals from, and the maintenance of, the Collection Account and the Investment Account shall be deducted from the amount to be distributed to Xxxxxx Fxxxxx Mac; except that, such expenses may be so deducted only to the extent Xxxxxx Fxxxxx Mac has concurred in the selection of such institution and form of Investment Account.