INVESTMENT OF ACCOUNT FUNDS. Funds on deposit in the Collection Account, the Distribution Account, any REO Account and any Escrow Account may be invested in Permitted Investments in accordance with the provisions set forth in Section 3.06. Any investment earnings or interest paid on funds deposited in the Collection Account, any REO Account and any Escrow Account (subject to Section 3.05(b)) shall accrue to the benefit of the Master Servicer and the Master Servicer shall be entitled to retain and withdraw such interest from each such account on a daily basis. Any investment earnings or interest paid on funds deposited in the Distribution Account, shall accrue to the benefit of the Trustee and the Trustee shall be entitled to retain and withdraw such interest from each such account on a daily basis. Funds on deposit in the Net WAC Rate Reserve Carryover Account may be invested in Permitted Investments in accordance with Section 3.06 subject to any limitations set forth in Section 4.10 and any investment earnings or interest paid shall accrue to the benefit of the party designated in such section.
INVESTMENT OF ACCOUNT FUNDS. Funds on deposit in the Collection Account, the Distribution Account, any REO Account and any Escrow Account may be invested in Permitted Investments in accordance with the provisions set forth in Section 3.06. Any investment earnings or interest paid on funds deposited in the Collection Account, any REO Account and any Escrow Account (subject to Section 3.05(b)) shall accrue to the benefit of the Master Servicer and the Master Servicer shall be entitled to retain and withdraw such interest from each such account on a daily basis. Any investment earnings or interest paid on funds deposited in the Distribution Account, shall accrue to the benefit of the Trustee and the Trustee shall be entitled to retain and withdraw such interest from each such account on a daily basis.
INVESTMENT OF ACCOUNT FUNDS. Funds on deposit in the Collection Account, the Distribution Account, any REO Account and any Escrow Account may be invested in Permitted Investments in accordance with the provisions set forth in Section 3.06. Any investment earnings or interest paid on funds deposited in the Collection Account, the Distribution Account, any REO Account and any Escrow Account (subject to Section 3.05(b)) shall accrue to the benefit of the Servicer. Any amounts in the Distribution Account earned for the benefit of the Servicer shall be remitted by the Trustee to the Servicer not later than the third Business Day of the month immediately succeeding the month in which such amounts were earned. Funds on deposit in the Net WAC Rate Carry Forward Reserve Account may be invested in Permitted Investments in accordance with Section 3.06, subject to any limitations set forth in Section 4.09 (with respect to the Net WAC Rate Carry Forward Reserve Account) and any investment earnings or interest paid shall accrue to the benefit of the party designated in such section and the party so designated shall deposit in the related account from its own funds the amount of any loss incurred on Permitted Investments in such account.
INVESTMENT OF ACCOUNT FUNDS. Funds on deposit in the Collection Account, the Distribution Account, any REO Account and any Escrow Account may be invested in Permitted Investments in accordance with the provisions set forth in Section 3.06. Any investment earnings or interest paid on funds deposited in the Collection Account, any REO Account and any Escrow Account (subject to Section 3.05(b)) shall accrue to the benefit of the Master Servicer and the Master Servicer shall be entitled to retain and withdraw such interest from each such account on a daily basis. Any investment earnings or interest paid on funds deposited in the Distribution Account, shall accrue to the benefit of the Trust Administrator and the Trust Administrator shall be entitled to retain and withdraw such interest from each such account on a daily basis. Funds on deposit in the Pre-Funding Accounts, the Interest Coverage Accounts and the Net WAC Rate Carryover Reserve Account may be invested in Permitted Investments in accordance with Section 3.06, subject to any limitations set forth in Section 4.07 (with respect to the Pre-Funding Accounts), Section 4.08 (with respect to the Interest Coverage Accounts) and Section 4.10 (with respect to the Net WAC Rate Carryover Reserve Account) and any investment earnings or interest paid shall accrue to the benefit of the party designated in such section.
INVESTMENT OF ACCOUNT FUNDS. Funds on deposit in the Custodial Account, any REO Account and any Escrow Account may be invested in Permitted Investments in accordance with the provisions set forth in Section 3.06. Any investment earnings or interest paid on funds deposited in the Custodial Account, any REO Account and any Escrow Account (subject to Section 3.05(b)) shall accrue to the benefit of the Servicer.
INVESTMENT OF ACCOUNT FUNDS. Funds on deposit in the Collection Account, the Distribution Account, any REO Account and any Escrow Account may be invested in Permitted Investments in accordance with the provisions set forth in Section 3.06. Any investment earnings or interest paid on funds deposited in the Collection Account, any REO Account and any Escrow Account (subject to Section 3.05(b)) shall accrue to the benefit of the Master Servicer and the Master Servicer shall be entitled to retain and withdraw such interest from each such account on a daily basis. Any investment earnings or interest paid on funds deposited in the Distribution Account, shall accrue to the benefit of the Trustee and the Trustee shall be entitled to retain and withdraw such interest from each such account on a daily basis.
(i) CREATION, LOCATION AND SUBSEQUENT TRANSFERS OF ACCOUNTS. Each account created pursuant to this Agreement must be an Eligible Account. On or prior to the Closing Date, the Master Servicer and the Trustee shall give notice, to each other, the NIMS Insurer, the Guarantor and the Depositor of the location of any account created by it pursuant to this Agreement. From time to time, the Master Servicer and the Trustee may each transfer any account created by it to a different depository institution provided that upon such transfer the written notice is provided to all other parties listed in the preceding sentence.
(j) In order to comply with its duties under the U.S.A. Patriot Act of 2001, the Trustee shall obtain and verify certain information and documentation from the other parties to this Agreement including, but not limited to, each such party's name, address, and other identifying information.
INVESTMENT OF ACCOUNT FUNDS. (a) So long as no Event of Default has occurred, all or a portion of the funds deposited in either Deposit Account shall be invested and reinvested by Administrative Agent pursuant to written instructions from the appropriate Borrower in one or more Eligible Investments; provided, however, that such funds shall be invested in Eligible Investments in a manner that will permit Administrative Agent to meet the payment obligations hereunder and any such direction from such Borrower shall contain a certification from such Borrower (which may be conclusively relied upon by Administrative Agent) that any such investments constitute Eligible Investments. In the absence of any instructions from Borrowers or after the occurrence of an Event of Default, the funds deposited in each Deposit Account shall be invested and reinvested by Administrative Agent in securities or obligations described in clause (a) under the definition of Eligible Investments and, in the case of an Event of Default, Borrowers shall have no authority to direct the investment of such funds. Funds deposited in any Clearing Account A shall not be invested, without Administrative Agent's consent, which consent shall not be unreasonably withheld provided such investment (x) is an Eligible Investment and (ii) shall mature on or prior to the Business Day immediately following the investment of such funds.
(b) All interest, income, earnings or other gain from investment of the funds deposited in the Deposit Accounts shall be credited to such Deposit Account, net of any service charges to such Deposit Account, and any loss resulting from such investments shall be charged to such Deposit Account. Borrowers shall include and report such interest, income, earnings and other gain in its income for Federal, state and local income and franchise tax purposes. Administrative Agent shall not be responsible for any losses with respect to any investment in Eligible Investments of the funds deposited in the Deposit Accounts or for any losses resulting from early withdrawal thereof under Section 10.7(c) even if such investments in Eligible Investments were made at the direction of Administrative Agent, and Borrowers shall bear the risk of all losses with respect to any such investments in Eligible Investments (including any loss resulting from early withdrawal thereof under Section 10.7(c)).
(c) Administrative Agent is hereby authorized and empowered at any time and from time to time, without notice to Borrowers or a...
INVESTMENT OF ACCOUNT FUNDS. All funds allocable to an Account shall be invested in one or more investment options made available from time to time by the Company for this purpose. Participants shall have the opportunity to direct the investment of the funds allocable to the Particpant Account. Investment of the funds of the Trust shall be made by the Administrator. The Administrator shall be obligated to comply with the instructions of a Participant with respect to investment of funds allocable to the Participant Account, subject to such investment options and limitations as the Administrator shall provide. The Administrator shall prescribe the form and manner in which such directions shall be made, as well as the frequency with which such directions may be made or changed.
INVESTMENT OF ACCOUNT FUNDS. Funds on deposit in the Collection Account, the Distribution Account, any REO Account and any Escrow Account may be invested in Permitted Investments in accordance with the provisions set forth in Section 3.06. Any investment earnings or interest paid on funds deposited in the Collection Account, any REO Account and any Escrow Account (subject to Section 3.05(b)) shall accrue to the benefit of the Servicer. Any investment earnings or interest paid on funds deposited in the Distribution Account (subject to Section 3.05(c)) from the Servicer Remittance Date to the Business Day prior to the Distribution Date, shall accrue to the benefit of the Servicer. Any amounts in such Distribution Account earned for the benefit of the Servicer shall be remitted by the Trustee to the Servicer not later than the third Business Day of the month immediately succeeding the month in which such amounts were earned. Any investment earnings or interest paid on funds deposited in the Distribution Account (subject to Section 3.05(c)) from the Business Day prior to the Distribution Date to the Distribution Date, shall accrue to the benefit of the Trustee. Funds on deposit in the Net WAC Rate Carryover Reserve Account may be invested in Permitted Investments in accordance with Section 3.06, subject to any limitations set forth in Section 4.10 (with respect to the Net WAC Rate Carryover Reserve Account) and any investment earnings or interest paid shall accrue to the benefit of the party designated in such section and the party so designated shall deposit in the related account from its own funds the amount of any loss incurred on Permitted Investments in such account.
INVESTMENT OF ACCOUNT FUNDS. Funds on deposit in the Collection Account, the Distribution Account, any REO Account and any Escrow Account may be invested in Permitted Investments in accordance with the provisions set forth in Section 3.06. Any investment earnings or interest paid on funds deposited in the Collection Account, the Distribution Account, any REO Account and any Escrow Account (subject to Section 3.05(b)) shall accrue to the benefit of the Servicer. Any amounts in the Distribution Account earned for the benefit of the Servicer shall be remitted by the Trustee to the Servicer not later than the third Business Day of the month immediately succeeding the month in which such amounts were earned. Funds on deposit in the Net WAC Rate Carryover Reserve Account may be invested in Permitted Investments in accordance with Section 3.06, subject to any limitations set forth in Section 4.09 (with respect to the Net WAC Rate Carryover Reserve Account) and any investment earnings or interest paid shall accrue to the benefit of the party designated in such section and the party so designated shall deposit in the related account from its own funds the amount of any loss incurred on Permitted Investments in such account.
(i) CREATION, LOCATION AND SUBSEQUENT TRANSFERS OF ACCOUNTS. Each account created pursuant to this Agreement must be an Eligible Account. On or prior to the Closing Date, the Servicer and the Trustee shall give notice, to each other, and the Depositor of the location of any account created by it pursuant to this Agreement. From time to time, the Servicer and the Trustee may each transfer any account created by it to a different depository institution provided that upon such transfer the written notice is provided to all other parties listed in the preceding sentence.
(j) In order to comply with its duties under the U.S.A. Patriot Act of 2001, the Trustee shall obtain and verify certain information and documentation from the owners of the accounts that the Trustee establishes pursuant to this Agreement including, but not limited to, each account owner's name, address, and other identifying information.
