Common use of Investment of Accounts Clause in Contracts

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the Servicer, in one or more Permitted Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Date). (b) Subject to Section 6.01(b), if any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06). (d) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer shall deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent Consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the ServicerServicer (in the case of the Distribution Account) or the Seller (in the case of any other Account) (the applicable Person, the "Directing Party"), in one or more Permitted Eligible Investments bearing interest or sold at a discount. If the applicable Directing Party does not provide investment directions, or if the Directing Party is the Servicer and an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Eligible Investments described in paragraph (ivvi) of the definition of Permitted Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that for any such Account other than the Distribution Account (i) if such Permitted Eligible Investment is an obligation of the TrusteeTrustee or a money market fund for which the Trustee or any Affiliate is the manager or the advisor, then such Permitted Eligible Investment shall mature not later than such Distribution DateDate and (ii) any other date may be approved by the Rating Agencies). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 5.05 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof9.01, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.065.05). (d) The Trustee shall invest and reinvest funds in the Accounts held by the Trustee, to the fullest extent practicable, in such manner as the applicable Directing Party shall from time to time direct as set forth in Section 5.05(a), but only in one or more Eligible Investments. (e) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any the Collection Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation Servicing Compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in the related Account Collection Account, the amount of any loss incurred in respect of any Permitted Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor therefore from its own funds. (f) All net income and gain realized from investment of, and all earnings on, funds deposited in the Distribution Account shall be for the benefit of (x) the Servicer for the period from the date of deposit to the Deposit Date, as Servicing Compensation in addition to the Servicing Fee and (y) the Trustee for the period from the Deposit Date to the Distribution Date, as compensation (in addition to the Trustee Fee). Any such income shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer or the Trustee, as applicable, shall deposit in the Distribution Account the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon payable to the Servicer or the Trustee, as the case may be, immediately upon the realization of such loss, without any right to reimbursement therefore from its own funds.

Investment of Accounts. (a) So long as no Event of Default event described in Sections 8.20(a) or (b) hereof shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account Accounts held by the Trustee shall be invested and reinvested by the TrusteeTrustee in the name of the Trustee for the benefit of the Owners and the Certificate Insurer, as their interests may appear, directed in writing by the ServicerServicer on the Closing Date and from time to time thereafter, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If During the continuance of an Event event described in Sections 8.20(a) or (b) hereof and following any removal of Default shall have occurred and be continuing or if the Servicer does not provide investment directionsServicer, the Trustee Certificate Insurer shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investmentsdirect such investments. No such investment in any Account shall mature later than the second Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Payment Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (c) Subject to Section 9.01 10.1 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06)therein. (d) So long The Trustee shall hold funds in the Accounts held by the Trustee uninvested upon the occurrence of either of the following events: (i) the Servicer or the Certificate Insurer, as no Event of Default the case may be, shall have occurred failed to give investment directions to the Trustee within ten days after receipt of a written request for such directions from the Trustee; or (ii) the Servicer or the Certificate Insurer, as the case may be, shall have failed to give investment directions to the Trustee with respect to any investment by the Trustee that shall mature during the ten-day period described in clause (i). (e) For purposes of investment, the Trustee shall aggregate all amounts on deposit in each Account. All income or other gain from investments in any Account shall be deposited in such Account immediately on receipt, and any loss resulting from such investments shall be continuingcharged to the Company, all net and upon request by the Trustee, the Company shall reimburse the Trust Estate for such losses. (f) Each institution at which the Certificate Account is maintained shall invest the funds therein in Eligible Investments, which shall mature not later than the Business Day next preceding the related Payment Date (except that if such Eligible Investment is an obligation of the institution that maintains such account, then such Eligible Investment shall mature not later than such Payment Date) and, in each case, shall not be sold or disposed of prior to its maturity. All such Eligible Investments shall be made in the name of the Trustee, for the benefit of the Owners and the Certificate Insurer. All income and gain (net of any losses) realized from any such investment of, and all earnings on, of funds deposited on deposit in any Account (excluding the Certificate Insurance Payment Account) Account shall be for the benefit of the Servicer as servicing compensation (and shall be remitted to it monthly as provided herein. The amount of any realized losses in addition the Certificate Account incurred in any such account in respect of any such investments shall promptly be deposited by the Servicer in the Certificate Account or paid to the Servicing Fee)Trustee as applicable. The Servicer Trustee in its fiduciary capacity shall deposit in the related Account not be liable for the amount of any loss incurred in respect of any Permitted Investment investment or lack of investment of funds held therein which is in excess the Certificate Account and made in accordance with this Section 7.6(f). (g) The Servicer shall give notice to the Trustee, the Company, each Rating Agency, and the Certificate Insurer of any proposed change of the income location of the Certificate Account not later than 30 days and gain thereon immediately upon realization of such loss, without not more than 45 days prior to any right to reimbursement therefor from its own fundschange thereof.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent Consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the ServicerServicer (in the case of the Distribution Account), but only for the period from the date of deposit of funds therein to the Deposit Date after which time frame the Trustee may direct any investments in the Distribution Account, or the Servicer (with respect to the Collection Account) or the Seller (in the case of any other Account) (the applicable Person, the “Directing Party”), in one or more Permitted Eligible Investments bearing interest or sold at a discount. If the applicable Directing Party does not provide investment directions, or if the Directing Party is the Servicer and an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directionscontinuing, the Trustee shall invest all Accounts in Permitted Eligible Investments described in paragraph (ivvi) of the definition of Permitted Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that for any such Account other than the Distribution Account (i) if such Permitted Eligible Investment is an obligation of the TrusteeTrustee or a money market fund for which the Trustee or any Affiliate is the manager or the advisor, then such Permitted Eligible Investment shall mature not later than such Distribution DateDate and (ii) any other date may be approved by the Rating Agencies). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's ’s failure to perform in accordance with this Section 6.06 5.05 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof9.01, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.065.05). (d) The Trustee shall invest and reinvest funds in the Accounts held by the Trustee, to the fullest extent practicable, in such manner as the applicable Directing Party shall from time to time direct as set forth in Section 5.05(a), but only in one or more Eligible Investments. (e) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any the Collection Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation Servicing Compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in the related Account Collection Account, the amount of any loss incurred in respect of any Permitted Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefore from its own funds. (f) All net income and gain realized from investment of, and all earnings on, funds deposited in the Distribution Account shall be for the benefit of (x) the Servicer for the period from the date of deposit to the Deposit Date, as Servicing Compensation in addition to the Servicing Fee and (y) the Trustee for the period from the Deposit Date to the Distribution Date, as compensation (in addition to the Trustee Fee). Any such income shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer or the Trustee, as applicable, shall deposit in the Distribution Account from its own funds the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon payable to the Servicer or the Trustee, as the case may be, immediately upon the realization of such loss, without any right to reimbursement therefor from its own funds.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent Consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee for the benefit of the Owners and the Certificate Insurer shall be invested and reinvested by the TrusteeTrustee in the name of the Trustee for the benefit of the Owners and the Certificate Insurer, as directed in writing by the ServicerDepositor, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if discount (provided, that the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) proceeds of the definition of Permitted InvestmentsCertificate Insurance Policy shall not be so invested). The bank serving as Trustee or any affiliate thereof may be the obligor on any investment which otherwise qualifies as an Eligible Investment. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Payment Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (c) Subject to Section 9.01 10.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the bank serving as Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long as no Event of Default The Trustee shall invest and reinvest funds in the Accounts held by the Trustee, in accordance with the written instructions delivered to the Trustee on the Startup Day, but only in one or more Eligible Investments bearing interest or sold at a discount. If the Depositor shall have occurred and failed to give investment directions to the Trustee then the Trustee shall invest in money market funds described in Section 7.07(h); to be continuing, all net redeemable without penalty no later than the Business Day immediately preceding the next Payment Date. (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Trustee shall be for the benefit account of the Owners of the Class R-I Certificates and distributed to the Owners of the Class R-I Certificates immediately prior to any distribution under Section 7.03 hereof on any Payment Date, and any loss resulting from such investments shall be for the account of the Servicer as servicing compensation (in addition to and promptly upon the Servicing Fee). The Servicer shall deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right loss the Servicer shall contribute funds in an amount equal to reimbursement therefor from its own fundssuch loss to such Account.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the Servicer, in one or more Permitted Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (ivv) of the definition of Permitted Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Date). (b) Subject to Section 6.01(b), if any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06). (d) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer shall deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the Servicer, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Eligible Investments described in paragraph (ivvi) of the definition of Permitted Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that (i) if such Permitted Eligible Investment is an obligation of the Trustee, then such Permitted Eligible Investment shall mature not later than such Distribution DateDate and (ii) any other date may be approved by the Rating Agencies). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 5.05 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof9.01, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.065.05). (d) The Trustee shall invest and reinvest funds in the Accounts held by the Trustee, to the fullest extent practicable, in such manner as the Servicer shall from time to time direct as set forth in Section 5.05(a), but only in one or more Eligible Investments. (e) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any the Collection Account (excluding and the Certificate Insurance Payment Account) Distribution Account shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in the related Collection Account, the Distribution Account or the Initial Interest Coverage Account, as the case may be, the amount of any loss incurred in respect of any Permitted Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor therefore from its own funds.

Investment of Accounts. (a) So long as no Event of Default Servicing Termination shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any the Collection Account other than the Certificate Insurance Payment Account held by the Trustee shall may be invested and reinvested by the Master Servicer pursuant to Section 3.02(c) of this Agreement and all or a portion of the Distribution Account may be invested and reinvested by the Indenture Trustee, as directed in writing by the Master Servicer, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If an Event of Default Servicing Termination shall have occurred and be continuing or if the Master Servicer does not provide investment directions, the Indenture Trustee shall invest all Accounts in Permitted Eligible Investments described in paragraph (ivvi) of the definition of Permitted Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Payment Date (except that (i) if such Permitted Eligible Investment is (a) an investment described in item (vi) of Eligible Investments if such Eligible Investments are held by the Indenture Trustee or (b) an obligation of the Indenture Trustee, then such Permitted Eligible Investment shall mature not later than such Distribution DatePayment Date and (ii) or any other date prior to such Payment Date as may be approved by the Rating Agencies and the Insurer). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Indenture Trustee and sufficient uninvested funds are not available to make such disbursement, the Indenture Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the The Indenture Trustee shall not in any way be held liable for the selection of Eligible Investments by the Master Servicer or by reason of any investment loss or charge or any insufficiency in any the Collection Account held by the Indenture Trustee resulting from any investment loss on any Permitted Eligible Investment included therein unless the Indenture Trustee’s failure to perform in accordance with this Section is the cause of such loss or charge (except to the extent that the Indenture Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06Section). The Indenture Trustee shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment made with funds on deposit in the Collection Account prior to its stated maturity or the failure of the Master Servicer to provide timely written investment direction. In the absence of written investment direction, the Indenture Trustee shall invest funds in the Accounts in the Eligible Investment described in clause (vi) of the definition thereof. (d) So long The Indenture Trustee may invest and reinvest funds in the Accounts held by the Indenture Trustee, to the fullest extent practicable, in such manner as no Event the Master Servicer shall from time to time direct as set forth in Section 5.06(a), but only in one or more Eligible Investments. Notwithstanding the foregoing, funds in the Distribution Account may remain uninvested for one Business Day. (e) All net income and gain realized from investment of, and all earnings on, funds deposited in the Collection Account through the second day preceding the day on which such funds are to be deposited in the Distribution Account shall be for the benefit of Default shall have occurred the Master Servicer as servicing compensation (in addition to the Master Servicing Fee) and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited (i) in any the Collection Account from the day preceding the day on which such funds are to be deposited in the Distribution Account and (excluding ii) in the Certificate Insurance Payment Account) Distribution Account shall be for the benefit of the Servicer as servicing compensation (Indenture Trustee, and shall be subject to withdrawal on or before the first Business Day of the month following the month in addition to the Servicing Fee)which such income or gain is received. The Master Servicer shall deposit in the related Collection Account and the Indenture Trustee shall deposit in the Distribution Account, as the case may be, the amount of any loss incurred in respect of any Permitted Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such lossloss from its own funds, without any right to reimbursement therefor from its own fundstherefore.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent Consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee for the benefit of the Owners shall be invested and reinvested by the TrusteeTrustee in the name of the Trust for the benefit of the Owners, as directed in writing by the ServicerSeller, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If The bank serving as Trustee or any affiliate thereof may be the obligor on any investment which otherwise qualifies as an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted InvestmentsEligible Investment. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Payment Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (c) Subject to Section 9.01 10.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the bank serving as Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long as no Event of Default The Trustee shall invest and reinvest funds in the Accounts held by the Trustee, in accordance with the written instructions delivered to the Trustee on the Startup Day, but only in one or more Eligible Investments bearing interest or sold at a discount. If the Seller shall have occurred and failed to give investment directions to the Trustee then the Trustee shall invest in money market funds described in Section 7.07(j) to be continuing, all net redeemable without penalty no later than the Business Day immediately preceding the next Payment Date. (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Trustee shall be for deposited in such Account immediately on receipt, and any loss resulting from such investments shall be charged to such Account, as appropriate, subject to the benefit requirement of Section 8.08(b) that the Servicer contribute funds in an amount equal to such loss in the case of the Servicer Principal and Interest Account. For federal income tax purposes, the earnings on the Capitalized Interest Account and Pre-Funding Account shall be treated as servicing compensation (in addition to the Servicing Fee). The Servicer shall deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess income of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own fundsSeller.

Investment of Accounts. (a) So long as no Event of Default Servicing Termination shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Indenture Trustee shall be invested and reinvested by the Indenture Trustee, as directed in writing by the Servicer, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If an Event of Default Servicing Termination shall have occurred and be continuing or if the Servicer does not provide investment directions, the Indenture Trustee shall invest all Accounts in Permitted Eligible Investments described in paragraph (ivvi) of the definition of Permitted Eligible Investments. No such investment in any Account shall mature later than (i) the Business Day immediately preceding the next Distribution Date, in the case of the Distribution Account, (ii) the Monthly Remittance Date immediately preceding the Distribution Date, in the case of the Principal and Interest Account, or (iii) the third Business Day immediately preceding the next Distribution Date, in the case of the Cross-Collateralization Reserve Accounts (except that that, in the case of the Distribution Account, (i) if such Permitted Eligible Investment is an investment described in item (vi) of Eligible Investments or an obligation of the Indenture Trustee, then such Permitted Eligible Investment shall mature not later than such Distribution DateDate and (ii) any other date as may be approved by the Rating Agencies and the Insurer). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Indenture Trustee and sufficient uninvested funds are not available to make such disbursement, the Indenture Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. . (c) The Indenture Trustee shall not be, and the Servicer shall be, in any way be held liable for the selection of Eligible Investments or by reason of any investment loss or other charge or any insufficiency in any Account held by the Indenture Trustee resulting therefrom from any investment loss on any Eligible Investment included therein unless the Indenture Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment included therein charge (except to the extent that the Indenture Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06Section). The Indenture Trustee shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or the failure of the Servicer to provide timely written investment direction. In the absence of written investment direction, the Indenture Trustee shall invest funds in the Accounts in the Eligible Investment described in clause (vi) of the definition thereof. (d) The Indenture Trustee shall invest and reinvest funds in the Accounts held by the Indenture Trustee, to the fullest extent practicable, in such manner as the Servicer shall from time to time direct as set forth in Section 5.06(a), but only in one or more Eligible Investments. (e) So long as no Event of Default Servicing Termination shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any the Principal and Interest Account (excluding and the Certificate Insurance Payment Account) Distribution Account shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee), and shall (i) in the case of the Distribution Account, be subject to withdrawal by the Servicer on or before the first Business Day of the month following the month in which such income or gain is received; and (ii) in the case of the Principal and Interest Account, be subject to withdrawal by the Servicer immediately following remittance of the Monthly Remittance Amount on the Monthly Remittance Date. The Servicer shall deposit in the related Principal and Interest Account or the Distribution Account, as the case may be, the amount of any loss incurred in respect of any Permitted Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such lossloss from its own funds, without any right to reimbursement therefor from its own fundstherefore.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent Consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee for the benefit of the Owners shall be invested and reinvested by the TrusteeTrustee in the name of the Trustee for the benefit of the Owners, as directed in writing by the ServicerDepositor, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If The bank serving as Trustee or any affiliate thereof may be the obligor on any investment which otherwise qualifies as an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted InvestmentsEligible Investment. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Payment Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (c) Subject to Section 9.01 10.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the bank serving as Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long as no Event of Default The Trustee shall invest and reinvest funds in the Accounts held by the Trustee, in accordance with the written instructions delivered to the Trustee on the Startup Day, but only in one or more Eligible Investments bearing interest or sold at a discount. If the Depositor shall have occurred and failed to give investment directions to the Trustee then the Trustee shall invest in money market funds described in Section 7.07(i); to be continuing, all net redeemable without penalty no later than the Business Day immediately preceding the next Payment Date. (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Trustee shall be for deposited in such Account immediately on receipt, and any loss resulting from such investments shall be charged to such Account, as appropriate, subject to the benefit requirement of Section 8.08(b) that the Servicer contribute funds in an amount equal to such loss in the case of the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer shall deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income Principal and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own fundsInterest Account.

Investment of Accounts. (a) So long as no Event of Default event described in Sections 4.20(a) or (b) hereof shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account Accounts held by the Indenture Trustee shall be invested and reinvested by the TrusteeIndenture Trustee for the benefit of the Owners and the Note Insurer, as their interests may appear, directed in writing by the ServicerServicer on the Closing Date and from time to time thereafter, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If During the continuance of an Event event described in Sections 4.20(a) or (b) hereof and following any removal of Default shall have occurred and be continuing or if the Servicer does not provide investment directionsServicer, the Trustee Note Insurer shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investmentsdirect such investments. No such investment in any Account shall mature later than the second Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Payment Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Indenture Trustee and sufficient uninvested funds are not available to make such disbursement, the Indenture Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (c) Subject to Section 9.01 hereofthe terms of the Indenture, the Indenture Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Indenture Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06)therein. (d) So long The Indenture Trustee shall hold funds in the Accounts held by the Indenture Trustee uninvested upon the occurrence of either of the following events: (i) the Servicer or the Note Insurer, as no Event of Default the case may be, shall have occurred failed to give investment directions to the Indenture Trustee within ten days after receipt of a written request for such directions from the Indenture Trustee; or (ii) the Servicer or the Note Insurer, as the case may be, shall have failed to give investment directions to the Indenture Trustee with respect to any investment by the Indenture Trustee that shall mature during the ten-day period described in clause (i). (e) For purposes of investment, the Indenture Trustee shall aggregate all amounts on deposit in each Account. All income or other gain from investments in any Account shall be deposited in such Account immediately on receipt, and any loss resulting from such investments shall be continuingcharged to the Seller, all net and upon request by the Indenture Trustee, the Seller shall reimburse the Trust Estate for such losses. (f) Each institution at which the Note Account is maintained shall invest the funds therein in Eligible Investments, which shall mature not later than the Business Day next preceding the related Payment Date (except that if such Eligible Investment is an obligation of the institution that maintains such account, then such Eligible Investment shall mature not later than such Payment Date) and, in each case, shall not be sold or disposed of prior to its maturity. All such Eligible Investments shall be made in the name of the Indenture Trustee, for the benefit of the Owners and the Note Insurer. All income and gain (net of any losses) realized from any such investment of, and all earnings on, of funds deposited on deposit in any the Note Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation (and shall be remitted to it monthly as provided herein. The amount of any realized losses in addition the Note Account incurred in any such account in respect of any such investments shall promptly be deposited by the Servicer in the Note Account or paid to the Servicing Fee)Indenture Trustee as applicable. The Servicer Indenture Trustee in its fiduciary capacity shall deposit in the related Account not be liable for the amount of any loss incurred in respect of any Permitted Investment investment or lack of investment of funds held therein which is in excess the Note Account and made in accordance with this Section 3.6(f). (g) The Servicer shall give notice to the Indenture Trustee, the Seller, the Issuer, each Rating Agency, and the Note Insurer of any proposed change of the income location of the Note Account not later than 30 days and gain thereon immediately upon realization of such loss, without not more than 45 days prior to any right to reimbursement therefor from its own fundschange thereof.

Investment of Accounts. (a) So long as no Event of Servicer Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the TrusteeTrustee (or remain uninvested), as directed in writing by the ServicerServicer on its own behalf, in one or more Permitted Investments Instruments (or, in the case of the Collection Account, in such other instruments approved in writing by the Certificate Insurer (with written notice to Moody's)) bearing interest or sold at a discount. If an Event of a Servicer Default shall have occurred and be continuing or if the Servicer does not provide investment directionscontinuing, the Trustee shall invest all Accounts in Permitted Investments Instruments described in paragraph (iv) of the definition of Permitted InvestmentsInstruments. No At no time shall any such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date date on which such amounts are required by the terms hereof to be withdrawn from such Account, which (except that if such Permitted Investment is an obligation i) in the case of the TrusteeCollection Account, then such Permitted Investment shall mature not later than such Distribution be the next Payment Date), (ii) in the case of the Principal and Interest Account, shall be the third business day preceding the next Payment date and (iii) in all other cases, until the day actually withdrawn pursuant to the terms hereof. (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 6.04 is the cause of such loss or charge. (c) Subject to Section 9.01 12.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment Instrument (or other instrument permitted by Section 6.04(a)) included therein herein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long The Trustee shall invest and reinvest funds in the Accounts held by it, to the fullest extent practicable, in such manner as no Event of Default the Servicer shall have occurred and be continuingfrom time to time direct as set forth in Section 6.04(a), all net but only in one or more Permitted Instruments (or other instrument permitted by Section 6.04(a)). (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Trustee, or from amounts on deposit in such Account and invested in Permitted Instruments, shall be for deposited in such Account, as the benefit of case may be, immediately on receipt, and the Trustee shall notify the Servicer as servicing compensation (in addition to of any loss resulting from such investments. Upon receipt of such notification, the Servicing Fee). The Servicer shall deposit in the related Account promptly remit the amount of any such loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds, without reimbursement therefor, to the Trustee for deposit in the Account from which the related funds were withdrawn for investment. (f) Any investment earnings on funds held in the Principal and Interest Account may be reinvested by the Servicer and the proceeds of such reinvestment are for the account of the Servicer.

Investment of Accounts. (a) So long as no default or Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held which by the Trustee terms of this Agreement shall be invested and reinvested in Permitted Instruments by the Indenture Trustee, as directed in writing by the Servicer, in one or more Permitted Investments Instruments in the name of the Indenture Trustee, bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investments. No such investment in any the Principal and Interest Account, Note Distribution Account, the Pre-Funding Account, the Capitalized Interest Account and the Spread Account shall mature later than the Business Day immediately preceding the next Distribution Remittance Date (except that if and no such Permitted Investment is an obligation of investment in the Trustee, then such Permitted Investment Expense Account shall mature not later than the Business Day immediately preceding the date such Distribution Date)funds will be needed to pay fees or premiums; provided, however, the Indenture Trustee or any affiliate thereof, may be the obligor on any investment which otherwise qualifies as a Permitted Instrument and any investment on which the Indenture Trustee is the obligor may mature on such Remittance Date or date when needed, as the case may be. (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Indenture Trustee and sufficient uninvested funds are not available to make such disbursement, the Indenture Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Indenture Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargetherefrom. (c) Subject to Section 9.01 hereof, the The Indenture Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Indenture Trustee resulting from any investment loss on any Permitted Investment Instrument included therein (except to the extent that the Indenture Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long The Indenture Trustee shall invest and reinvest funds in the Accounts held by the Indenture Trustee to the fullest extent practicable, in such manner as no Event of Default the Servicer shall have occurred and be continuingfrom time to time direct in writing, all net but only in one or more Permitted Instruments. (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Indenture Trustee shall be for deposited in such Account, immediately on receipt, and the benefit of Indenture Trustee shall notify the Servicer as servicing compensation (in addition to the Servicing Fee)of any loss resulting from such investments. The Servicer shall deposit in the related Account remit the amount of any such loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds, without reimbursement therefor, to the Indenture Trustee for deposit in the Account from which the related funds were withdrawn for investment by the next Determination Date following receipt by the Servicer of such notice.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent Consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the ServicerServicer (in the case of the Distribution Account), but only for the period from the date of deposit of funds therein to the Deposit Date after which time frame the Trustee may direct any investments in the Distribution Account, or the Servicer (with respect to the Collection Account) or the Seller (in the case of any other Account) (the applicable Person, the “Directing Party”), in one or more Permitted Eligible Investments bearing interest or sold at a discount. If the applicable Directing Party does not provide investment directions, or if the Directing Party is the Servicer and an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Eligible Investments described in paragraph (ivvi) of the definition of Permitted Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that for any such Account other than the Distribution Account (i) if such Permitted Eligible Investment is an obligation of the TrusteeTrustee or a money market fund for which the Trustee or any Affiliate is the manager or the advisor, then such Permitted Eligible Investment shall mature not later than such Distribution DateDate and (ii) any other date may be approved by the Rating Agencies). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's ’s failure to perform in accordance with this Section 6.06 5.05 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof9.01, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.065.05). (d) The Trustee shall invest and reinvest funds in the Accounts held by the Trustee, to the fullest extent practicable, in such manner as the applicable Directing Party shall from time to time direct as set forth in Section 5.05(a), but only in one or more Eligible Investments. (e) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any the Collection Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation Servicing Compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in the related Account Collection Account, the amount of any loss incurred in respect of any Permitted Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor therefore from its own funds. (f) All net income and gain realized from investment of, and all earnings on, funds deposited in the Distribution Account shall be for the benefit of (x) the Servicer for the period from the date of deposit to the Deposit Date, as Servicing Compensation in addition to the Servicing Fee and (y) the Trustee for the period from the Deposit Date to the Distribution Date, as compensation (in addition to the Trustee Fee). Any such income shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer or the Trustee, as applicable, shall deposit in the Distribution Account from its own funds the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon payable to the Servicer or the Trustee, as the case may be, immediately upon the realization of such loss, without any right to reimbursement therefore from its own funds.

Investment of Accounts. (a) So long as no Event of Default event described in Sections 8.20(a) hereof shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account Accounts held by the Trustee shall be invested and reinvested by the TrusteeTrustee in the name of the Trustee for the benefit of the Holders, as directed in writing by the Servicer, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Payment Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (c) Subject to Section 9.01 10.1 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the bank serving as Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long The Trustee shall hold funds in the Accounts held by the Trustee uninvested upon the occurrence of either of the following events: (i) the Servicer or the Certificate Insurer, as no Event of Default the case may be, shall have occurred and failed to give investment directions to the Trustee within ten days after receipt of a written request for such directions from the Trustee; or (ii) the Servicer or the Certificate Insurer, as the case may be, shall have failed to give investment directions to the Trustee during the ten-day period described in clause (i) preceding, by 11:15 a.m. New York time (or such other time as may be continuingagreed by the Servicer or the Certificate Insurer, all net income and gain realized from investment ofas the case may be, and the Trustee) on any Business Day (any such investment by the Trustee pursuant to this clause (ii) to mature on the next Business Day after the date of such investment). (e) For purposes of investment, the Trustee may but shall not be required to aggregate all earnings on, funds deposited amounts on deposit in any Account (excluding the Certificate Insurance Payment Account) Accounts. All income or other gain from investments in the Accounts shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer shall deposit deposited in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own fundson receipt.

Investment of Accounts. (a) So long as no the Note Purchaser shall not have notified the Indenture Trustee of the occurrence of an Event of Default under the Indenture, the Indenture Trustee shall have occurred and be continuing, and consistent with cause all or any requirements portion of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall Accounts to be invested and reinvested by reinvested, in the Trusteename of the Indenture Trustee or its nominee, as the Indenture Trustee may be directed in writing by the ServicerTrust (or by the Servicer on behalf of the Trust) and at the expense and risk of the Trust, in one or more Permitted Investments bearing interest or sold at a discount; provided that, if the Trust causes to be delivered to the Note Purchaser an opinion of counsel, in form and substance reasonably satisfactory to the Note Purchaser to the effect that permitting the Servicer directly to instruct the Indenture Trustee with respect to the investment of funds in the Trust Estate Accounts will not adversely affect the perfection of the Indenture Trustee's Lien thereon, the Servicer may so instruct the Indenture Trustee regarding the investment and reinvestment of funds held in the Accounts in Permitted Investments. If the Note Purchaser shall have notified the Indenture Trustee of the occurrence of an Event of Default under the Indenture, however, the Note Purchaser may direct such investments, neither the Trust nor the Servicer shall have occurred any further right or power to direct such investments, and be continuing or if the Servicer does not provide investment directions, the Indenture Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of follow such directions as it may receive from the definition of Permitted Investments. No such investment in Note Purchaser notwithstanding any Account shall mature later than directions the Business Day immediately preceding Indenture Trustee may have received from the next Distribution Date (except that if such Permitted Investment is an obligation of Trust or the Trustee, then such Permitted Investment shall mature not later than such Distribution Date)Servicer. (b) Subject No investments shall be liquidated prior to Section 6.01(b), if any amounts are needed for disbursement from any Account held their stated maturity by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeTrust. (c) Subject to Section 9.01 hereof, the The Indenture Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06)therein. (d) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer shall deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds.

Investment of Accounts. (a) So long as no default or Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Indenture Trustee shall be invested and reinvested by the Indenture Trustee, as directed in writing by the Servicer, in one or more Permitted Investments Instruments in the name of the Indenture Trustee, bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Remittance Date; provided, however, the Indenture Trustee or any affiliate thereof, may be the obligor on any investment which otherwise qualifies as a Permitted Instrument and any investment on which the Indenture Trustee is the obligor may mature on such Remittance Date (except that if such Permitted Investment is an obligation of or date when needed, as the Trustee, then such Permitted Investment shall mature not later than such Distribution Date)case may be. (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Indenture Trustee and sufficient uninvested funds are not available to make such disbursement, the Indenture Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Indenture Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargetherefrom. (c) Subject to Section 9.01 hereof, the The Indenture Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Indenture Trustee resulting from any investment loss on any Permitted Investment Instrument included therein (except to the extent that the Indenture Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long The Indenture Trustee shall invest and reinvest funds in the Accounts held by the Indenture Trustee to the fullest extent practicable, in such manner as no Event of Default the Servicer shall have occurred and be continuingfrom time to time direct in writing, all net but only in one or more Permitted Instruments. (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Indenture Trustee shall be for deposited in such Account, immediately on receipt, and the benefit of Indenture Trustee shall notify the Servicer as servicing compensation (in addition to the Servicing Fee)of any loss resulting from such investments. The Servicer shall deposit in the related Account remit the amount of any such loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds, without reimbursement therefor, to the Indenture Trustee for deposit in the Account from which the related funds were withdrawn for investment by the next Determination Date following receipt by the Servicer of such notice.

Investment of Accounts. (a) So long as no default or Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the Trustee, Trustee as directed in writing by the Servicer, in one or more Permitted Investments Instruments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investments. No such investment in any the Certificate Accounts shall mature later than the Business Day immediately preceding the next Remittance Date and no such investment in the Insurance Accounts, Expense Accounts, Pre- Funding Account, Capitalized Interest Account, FHA Premium Account or Spread Account shall mature later than the Business Day immediately preceding the next Distribution date such funds will be needed to pay fees or premiums or be transferred to the applicable Certificate Account, as the case may be; PROVIDED, HOWEVER, the Trustee or any affiliate thereof may be the obligor on any investment which otherwise qualifies as a Permitted Instrument and any investment on which the Trustee is the obligor may mature on such Remittance Date (except that if such Permitted Investment is an obligation of or date when needed, as the Trustee, then such Permitted Investment shall mature not later than such Distribution Date)case may be. (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargetherefrom. (c) Subject to Section 9.01 12.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment Instrument included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long The Trustee shall invest and reinvest funds in the Accounts held by the Trustee to the fullest extent practicable, in such manner as no Event of Default the Servicer shall have occurred and be continuingfrom time to time direct in writing, all net but only in one or more Permitted Instruments. (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Trustee shall be for deposited in such Account, immediately on receipt, and the benefit of Trustee shall notify the Servicer as servicing compensation (in addition to the Servicing Fee)of any loss resulting from such investments. The Servicer shall deposit in the related Account remit the amount of any such loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds, without reimbursement therefor, to the Trustee for deposit in the Account from which the related funds were withdrawn for investment by the next Determination Date following receipt by the Servicer of such notice.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account (other than the Certificate Insurance Payment Account Reserve Account) held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the Servicer, in one or more Permitted Investments bearing interest or sold at a discountdiscount and maturing not later than the second Business Day prior to the next Remittance Date. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (ivd) of the definition of Permitted Investments. No such investment in any Account shall mature Investments and maturing not later than the second Business Day immediately preceding prior to the next Distribution Date (except that if such Permitted Investment is an obligation of Remittance Date. Notwithstanding anything to the Trusteecontrary in this Section 6.6(a), then such Permitted Investment all amounts received under the Certificate Insurance Policies shall mature not later than such Distribution Date)remain uninvested. (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account (other than the Reserve Account) held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 6.6 is the cause of such loss or chargecharge or the Trustee is the obligor of the related investment. (c) Subject to Section 9.01 9.1 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in 103 any Account held by the Trustee resulting from any investment loss on any Permitted Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.066.6). (d) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment Reserve Account) shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer shall deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds.

Investment of Accounts. (a) So long as no default or Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than which is not by the Certificate Insurance Payment Account terms of this Agreement to be held uninvested held by the Trustee or the Spread Account Custodian shall be invested and reinvested by the TrusteeTrustee or the Spread Account Custodian, as directed in writing by the Servicer, in one or more Permitted Investments Instruments in the name of the Trustee or the Spread Account Custodian, as the case may be, bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investments. No such investment in any the Certificate Account, the Pre-Funding Account, the Capitalized Interest Account, the Expense Account and the Spread Account shall mature later than the Business Day immediately preceding the next Distribution Remittance Date (except that if and no such Permitted Investment is an obligation of investment in the Trustee, then such Permitted Investment Expense Account shall mature not later than the Business Day immediately preceding the date such Distribution Date)funds will be needed to pay fees or premiums; provided, however, the Trustee or any affiliate thereof, may be the obligor on any investment which otherwise qualifies as a Permitted Instrument and any investment on which the Trustee is the obligor may mature on such Remittance Date or date when needed, as the case may be. (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee or the Spread Account Custodian and sufficient uninvested funds are not available to make such disbursement, the Trustee or the Spread Account Custodian, as the case may be, shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Neither the Trustee nor the Spread Account Custodian shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargetherefrom. (c) Subject to Section 9.01 12.01 hereof, neither the Trustee nor the Spread Account Custodian shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee or the Spread Account Custodian resulting from any investment loss on any Permitted Investment Instrument included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long The Trustee and the Spread Account Custodian shall invest and reinvest funds in the Accounts held by the Trustee or the Spread Account Custodian, to the fullest extent practicable, in such manner as no Event of Default the Servicer shall have occurred and be continuingfrom time to time direct in writing, all net but only in one or more Permitted Instruments. (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Trustee or the Spread Account Custodian shall be for deposited in such Account, as the benefit of case may be, immediately on receipt, and the Trustee or the Spread Account Custodian shall notify the Servicer as servicing compensation (in addition to the Servicing Fee)of any loss resulting from such investments. The Servicer shall deposit in the related Account remit the amount of any such loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds, without reimbursement therefor, to the Trustee or the Spread Account Custodian, as the case may be, for deposit in the Account from which the related funds were withdrawn for investment by the next Determination Date following receipt by the Servicer of such notice.

Investment of Accounts. (a) So long as no default or Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than which is not by the Certificate Insurance Payment Account terms of this Agreement to be held uninvested by the Trustee or the Spread Account Custodian shall be invested and reinvested by the TrusteeTrustee or the Spread Account Custodian, as directed in writing by the Servicer, in one or more Permitted Investments Instruments in the name of the Trustee or the Spread Account Custodian, as the case may be, bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investments. No such investment in any the Certificate Account, the Pre-Funding Account, the Capitalized Interest Account, the Expense Account and the Spread Account shall mature later than the Business Day immediately preceding the next Distribution Remittance Date (except that if and no such Permitted Investment is an obligation of investment in the Trustee, then such Permitted Investment Expense Account shall mature not later than the Business Day immediately preceding the date such Distribution Date)funds will be needed to pay fees or premiums; provided, however, the Trustee or any affiliate thereof, may be the obligor on any investment which otherwise qualifies as a Permitted Instrument and any investment on which the Trustee is the obligor may mature on such Remittance Date or date when needed, as the case may be. (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee or the Spread Account Custodian and sufficient uninvested funds are not available to make such disbursement, the Trustee or the Spread Account Custodian, as the case may be, shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Neither the Trustee nor the Spread Account Custodian shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargetherefrom. (c) Subject to Section 9.01 12.01 hereof, neither the Trustee nor the Spread Account Custodian shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee or the Spread Account Custodian resulting from any investment loss on any Permitted Investment Instrument included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long The Trustee and the Spread Account Custodian shall invest and reinvest funds in the Accounts held by the Trustee or the Spread Account Custodian, to the fullest extent practicable, in such manner as no Event of Default the Servicer shall have occurred and be continuingfrom time to time direct in writing, all net but only in one or more Permitted Instruments, provided, however that any amounts held uninvested in the Pre-Funding Account shall be, as soon as practicable, invested in one or more Permitted Instruments. (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Trustee or the Spread Account Custodian shall be for deposited in such Account, as the benefit of case may be, immediately on receipt, and the Trustee or the Spread Account Custodian shall notify the Servicer as servicing compensation (in addition to the Servicing Fee)of any loss resulting from such investments. The Servicer shall deposit in the related Account remit the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds, without reimbursement therefor, to the Trustee or the Spread Account Custodian, as the case may be, for deposit in the Account from which the related funds were withdrawn for investment by the next Determination Date following receipt by the Servicer of such notice.

Investment of Accounts. (a) So long as no default or Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than which is not by the Certificate Insurance Payment Account terms of this Agreement to be held uninvested held by the Trustee or the Spread Account Custodian shall be invested and reinvested by the TrusteeTrustee or the Spread Account Custodian, as directed in writing by the Servicer, in one or more Permitted Investments Instruments in the name of the Trustee or the Spread Account Custodian, as the case may be, bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investments. No such investment in any the Certificate Account, the Pre-Funding Account, the Capitalized Interest Account and the Spread Account shall mature later than the Business Day immediately preceding the next Distribution Remittance Date (except that if and no such Permitted Investment is an obligation of investment in the Trustee, then such Permitted Investment Expense Account shall mature not later than the Business Day immediately preceding the date such Distribution Date)funds will be needed to pay fees or premiums; PROVIDED, HOWEVER, the Trustee or any affiliate thereof, may be the obligor on any investment which otherwise qualifies as a Permitted Instrument and any investment on which the Trustee is the obligor may mature on such Remittance Date or date when needed, as the case may be. (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee or the Spread Account Custodian and sufficient uninvested funds are not available to make such disbursement, the Trustee or the Spread Account Custodian, as the case may be, shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Neither the Trustee nor the Spread Account Custodian shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargetherefrom. (c) Subject to Section 9.01 12.01 hereof, neither the Trustee nor the Spread Account Custodian shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee or the Spread Account Custodian resulting from any investment loss on any Permitted Investment Instrument included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long The Trustee and the Spread Account Custodian shall invest and reinvest funds in the Accounts held by the Trustee or the Spread Account Custodian, to the fullest extent practicable, in such manner as no Event of Default the Servicer shall have occurred and be continuingfrom time to time direct in writing, all net but only in one or more Permitted Instruments. (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Trustee or the Spread Account Custodian shall be for deposited in such Account, as the benefit of case may be, immediately on receipt, and the Trustee or the Spread Account Custodian shall notify the Servicer as servicing compensation (in addition to the Servicing Fee)of any loss resulting from such investments. The Servicer shall deposit in the related Account remit the amount of any such loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds, without reimbursement therefor, to the Trustee or the Spread Account Custodian, as the case may be, for deposit in the Account from which the related funds were withdrawn for investment by the next Determination Date following receipt by the Servicer of such notice.

Investment of Accounts. (a) So long as no Event event described in Section 5.1(a) or (b) of Default the Sale and Servicing Agreement shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account Accounts held by the Indenture Trustee (other than each Principal and Interest Account shall be invested and reinvested by the TrusteeIndenture Trustee in the name of the Indenture Trustee for the benefit of the Noteholders and the Note Insurer, as directed in writing by the Master Servicer, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If During the continuance of an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments event described in paragraph Section 5.1(a) or (ivb) of the definition Sale and Servicing Agreement and following any removal of Permitted Investmentsthe Master Servicer, the Note Insurer shall direct such investments. All investment income shall be held in the Accounts for the benefit of the Master Servicer. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Payment Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Indenture Trustee and sufficient uninvested funds are not available to make such disbursement, the Indenture Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (c) Subject to Section 9.01 hereof, the The Indenture Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Indenture Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06)therein. (d) So long The Indenture Trustee shall hold funds in the Accounts held by the Indenture Trustee uninvested upon the occurrence of either of the following events: (i) the Master Servicer or the Note Insurer, as no Event of Default the case may be, shall have occurred and failed to give investment directions to the Indenture Trustee; or (ii) the Master Servicer or the Note Insurer, as the case may be, shall have failed to give investment directions to the Indenture Trustee by 11:15 a.m. New York time (or such other time as may be continuingagreed by the Master Servicer or the Note Insurer, all net income and gain realized from investment ofas the case may be, and all earnings on, funds deposited in the Indenture Trustee) on any Account Business Day (excluding any such investment by the Certificate Insurance Payment AccountIndenture Trustee pursuant to this clause (ii) shall be for to mature on the benefit of next Business Day after the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer shall deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization date of such loss, without any right to reimbursement therefor from its own fundsinvestment).

Investment of Accounts. (a) So long as no Event of Default event described in Sections 8.20(a) hereof shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account Accounts held by the Trustee shall be invested and reinvested by the TrusteeTrustee in the name of the Trustee for the benefit of the Owners, as directed in writing by the Servicer, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Payment Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (c) Subject to Section 9.01 10.1 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the bank serving as Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long The Trustee shall hold funds in the Accounts held by the Trustee uninvested upon the occurrence of either of the following events: (i) the Servicer or the Certificate Insurer, as no Event of Default the case may be, shall have occurred and failed to give investment directions to the Trustee within ten days after receipt of a written request for such directions from the Trustee; or (ii) the Servicer or the Certificate Insurer, as the case may be, shall have failed to give investment directions to the Trustee during the ten-day period described in clause (i) preceding, by 11:15 a.m. New York time (or such other time as may be continuingagreed by the Servicer or the Certificate Insurer, all net income and gain realized from investment ofas the case may be, and the Trustee) on any Business Day (any such investment by the Trustee pursuant to this clause (ii) to mature on the next Business Day after the date of such investment). (e) For purposes of investment, the Trustee may but shall not be required to aggregate all earnings on, funds deposited amounts on deposit in any Account (excluding the Certificate Insurance Payment Account) Accounts. All income or other gain from investments in the Accounts shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer shall deposit deposited in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own fundson receipt.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account, except the Pre-Funding Accounts held by the Trustee, shall be invested and reinvested by the Trustee, as directed in writing, or by telephone or facsimile transmission confirmed in writing, by the Servicer, in one or more Permitted Instruments. Subject to the last paragraph of Section 5.04 above in the case of the Principal and Interest Accounts, no such investment in any Account other shall mature later than the Certificate Insurance Payment Account Business Day immediately preceding the next Remittance Date. Consistent with any requirements of the Code, all or a portion of the Reserve Accounts held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing writing, or by telephone or facsimile transmission confirmed in writing, by the Servicer, Holders of a majority in Percentage Interest of the Class R Certificates in one or more Permitted Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted InvestmentsInstruments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Remittance Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 6.05 is the cause of such loss or chargecharge or if the Trustee is the obligor and has defaulted thereon. (c) Subject to Section 9.01 hereof12.01, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment Instrument included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long The Trustee shall invest and reinvest funds in the Accounts held by the Trustee, to the fullest extent practicable, in such manner as no Event the Servicer or the Holders of Default a majority in Percentage Interest of the Class R Certificates, as applicable, shall have occurred and be continuingfrom time to time direct as set forth in Section 6.05(a) above, all net but only in one or more Permitted Instruments. (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Trustee shall be for deposited in such Account immediately on receipt, and the benefit Trustee shall notify the Servicer, or the Depositor, or the Holders of a majority in Percentage Interest of the Servicer Class R Certificates as servicing compensation (in addition to the Servicing Fee)case may be, of any loss resulting from such investments. The Servicer shall deposit Upon receipt of such notification, the Servicer, in the related Account case of all Accounts other than the Interest Coverage Accounts and the Reserve Accounts, the Depositor, in the case of the Interest Coverage Accounts and the Class R Certificateholders in the case of the Reserve Accounts, shall promptly remit the amount of any such loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such lossfrom their own funds, without any right reimbursement therefor, to reimbursement therefor the Trustee for deposit in the Account or Accounts from its own fundswhich the related funds were withdrawn for investment.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent Consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee Securities Administrator shall be invested and reinvested by the TrusteeSecurities Administrator, as directed in writing by the ServicerServicer (in the case of the Collection Account), but only for the period from the date of deposit of funds therein to the Deposit Date after which time frame the Securities Administrator may direct any investments in the Distribution Account, or the Servicer (with respect to the Collection Account) or the Seller (in the case of any other Account) (the applicable Person, the “Directing Party”), in one or more Permitted Eligible Investments bearing interest or sold at a discount. If an the applicable Directing Party does not provide investment directions, or if the Directing Party is the Servicer and a Servicer Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directionscontinuing, the Trustee Securities Administrator shall invest all Accounts in Permitted Eligible Investments described in paragraph (ivvi) of the definition of Permitted Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that for any such Account other than the Distribution Account (i) if such Permitted Eligible Investment is an obligation of the TrusteeSecurities Administrator or a money market fund for which the Securities Administrator or any Affiliate is the manager or the advisor, then such Permitted Eligible Investment shall mature not later than such Distribution DateDate and (ii) any other date may be approved by the Rating Agencies). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee Securities Administrator and sufficient uninvested funds are not available to make such disbursement, the Trustee Securities Administrator shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee Securities Administrator shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's Securities Administrator’s failure to perform in accordance with this Section 6.06 5.05 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof9.01, the Trustee Securities Administrator shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee Securities Administrator resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the Trustee Securities Administrator is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.065.05). (d) The Securities Administrator shall invest and reinvest funds in the Accounts held by the Securities Administrator, to the fullest extent practicable, in such manner as the applicable Directing Party shall from time to time direct as set forth in Section 5.05(a), but only in one or more Eligible Investments. (e) So long as no Servicer Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any the Collection Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation Servicing Compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in the related Account Collection Account, the amount of any loss incurred in respect of any Permitted Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor therefore from its own funds. (f) All net income and gain realized from investment of, and all earnings on, funds deposited in the Collection Account shall be for the benefit of the Servicer for the period from the date of deposit to the Deposit Date, as Servicing Compensation in addition to the Servicing Fee. All net income and gain realized from investment of, and all earnings on, funds deposited in the Distribution Account shall be for the benefit of the Securities Administrator for the period from the Deposit Date to the Distribution Date, as compensation. Any such income shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Securities Administrator, as applicable, shall deposit in the Distribution Account from its own funds the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon payable to Securities Administrator immediately upon the realization of such loss, without any right to reimbursement therefor.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent Consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Distribution Account held by the Trustee for the benefit of the Owners shall be invested and reinvested by the TrusteeTrustee in the name of the Trustee for the benefit of the Owners and the Certificate Insurer, as directed in writing by the Master Servicer, in one or more Permitted Investments bearing interest or sold at a discount. If an Event of Default the Master Servicer shall have occurred and be continuing or if failed to give investment directions to the Servicer does not provide investment directions, Trustee then the Trustee shall invest all Accounts in Permitted Investments money market or common trust funds described in paragraph (ivSection 7.07(h) to be redeemable without penalty no later than the Business Day immediately preceding the next Distribution Date. The bank serving as Trustee or any affiliate thereof may be the obligor on or investment manager of the definition of any investment which otherwise qualifies as an Permitted InvestmentsInvestment. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (c) Subject to Section 9.01 10.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment included therein (except to the extent that the bank serving as Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long as no Event of Default shall have occurred and be continuing, all net All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account held by the Trustee shall be deposited in such Account immediately on receipt, and any loss resulting from such investments shall be charged to such Account, as appropriate, subject to the provisions of Section 7.05(e) and Section 8.08(b) requiring that the Master Servicer contribute funds in an amount equal to such loss into the Distribution Account or the Collection Account, as applicable, and permitting the Master Servicer to retain or receive all income or gain with respect to investments of funds on the Distribution Account or the Collection Account, as applicable. (excluding e) Any investment earnings on funds held in the Certificate Insurance Payment Account) Distribution Account shall be for the benefit account of the Master Servicer as servicing compensation (in addition and may only be disbursed by the Trustee from the Distribution Account to the Servicing Fee)Master Servicer following maturity of the related investments. The Prior to each Distribution Date, the Master Servicer shall deposit in into the related Distribution Account the net amount of any loss incurred investment losses on such funds during the period from and after the related Monthly Remittance Date to but not including such Distribution Date. Any references herein to amounts on deposit in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization Distribution Account shall refer to amounts net of such loss, without any right to reimbursement therefor from its own fundsinvestment earnings.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account (other than the Certificate Insurance Payment Account Payments Account) held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the Servicer, Master Servicer (with respect to the Certificate Accounts up to the Business Day prior to each Distribution Date) or the Trustee (with respect to the Certificate Accounts from the Business Day prior to each Distribution Date to such Distribution Date) or the Company (with respect to the Pre-Funding Accounts and the Interest Coverage Accounts) in one or more Permitted Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Master Servicer or the Company does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (ivd) of the definition of Permitted Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment Investments included therein (other than with respect to the investment of funds in the Certificate Accounts from the Business Day prior to each Distribution Date to such Distribution Date, and except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06).. 81 (d) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment AccountPre-Funding Accounts and the Interest Coverage Accounts) shall be for the benefit of the Master Servicer as servicing compensation (in addition to the Servicing Fee) and the benefit of the Trustee as compensation (in addition to the Trustee Fee). The Master Servicer and the Trustee shall deposit in each Account (excluding the related Pre-Funding Accounts and the Interest Coverage Accounts) and the Company shall deposit in each Pre-Funding Account and Interest Coverage Account, from its own funds, the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor therefor; provided, however, that the Master Servicer shall only be responsible for the reimbursement of losses in the Certificate Accounts up until the Business Day prior to each Distribution Date, and the Trustee shall only be responsible for the reimbursement of losses from its own fundsthe Business Day prior to each Distribution Date to such Distribution Date.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent Consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the ServicerServicer (in the case of the Distribution Account), but only for the period from the date of deposit of funds therein to the Deposit Date after which time frame the Trustee may direct any investments in the Distribution Account, or the Servicer (with respect to the Collection Account) or the Seller (in the case of any other Account) (the applicable Person, the “Directing Party”), in one or more Permitted Eligible Investments bearing interest or sold at a discount. If the applicable Directing Party does not provide investment directions, or if the Directing Party is the Servicer and an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Eligible Investments described in paragraph (ivvi) of the definition of Permitted Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that for any such Account other than the Distribution Account (i) if such Permitted Eligible Investment is an obligation of the TrusteeTrustee or a money market fund for which the Trustee or any Affiliate is the manager or the advisor, then such Permitted Eligible Investment shall mature not later than such Distribution DateDate and (ii) any other date may be approved by the Rating Agencies). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's ’s failure to perform in accordance with this Section 6.06 5.05 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof9.01, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.065.05). (d) The Trustee shall invest and reinvest funds in the Accounts held by the Trustee, to the fullest extent practicable, in such manner as the applicable Directing Party shall from time to time direct as set forth in Section 5.05(a), but only in one or more Eligible Investments. (e) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any the Collection Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation Servicing Compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in the related Account Collection Account, the amount of any loss incurred in respect of any Permitted Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor therefore from its own funds. (f) All net income and gain realized from investment of, and all earnings on, funds deposited in the Distribution Account shall be for the benefit of (x) the Servicer for the period from the date of deposit to the Deposit Date, as Servicing Compensation in addition to the Servicing Fee and (y) the Trustee for the period from the Deposit Date to the Distribution Date, as compensation (in addition to the Trustee Fee). Any such income shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer or the Trustee, as applicable, shall deposit in the Distribution Account the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon payable to the Servicer or the Trustee, as the case may be, immediately upon the realization of such loss, without any right to reimbursement therefore from its own funds.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent Consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Indenture Trustee for the benefit of the Owners shall be invested and reinvested by the TrusteeIndenture Trustee in trust for the benefit of the Owners, as directed in writing by the Servicer, in one or more Permitted Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Eligible Investments. The bank serving as Indenture Trustee or any Affiliate thereof may be the obligor on any investment which otherwise qualifies as an Eligible Investment. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Payment Date (except that if such Permitted Eligible Investment is an obligation of the Indenture Trustee, then such Permitted Eligible Investment shall mature not later than such Distribution Payment Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Indenture Trustee and sufficient uninvested funds are not available to make such disbursement, the Indenture Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (c) Subject to Section 9.01 hereofthe terms of the Indenture, the Indenture Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Indenture Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the bank serving as Indenture Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long as no Event of Default If the Servicer shall have occurred and failed to give investment directions to the Indenture Trustee as specified in section (a) above then the Indenture Trustee shall invest in federal funds described in clause (a) of the definition of "Eligible Investments" to be continuing, all net redeemable without penalty no later than the Business Day immediately preceding the next Payment Date. (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Indenture Trustee shall be for the benefit of the Servicer as servicing compensation (deposited in addition to the Servicing Fee). The Servicer shall deposit in the related such Account the amount of immediately on receipt, and any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of resulting from such loss, without any right investments shall be charged to reimbursement therefor from its own fundssuch Account.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the Servicer, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Eligible Investments described in paragraph (ivvi) of the definition of Permitted Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that (i) if such Permitted Eligible Investment is an obligation of the Trustee, then such Permitted Eligible Investment shall mature not later than such Distribution DateDate and (ii) any other date may be approved by the Rating Agencies and the Certificate Insurer). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 5.05 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof9.01, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.065.05). (d) The Trustee shall invest and reinvest funds in the Accounts held by the Trustee, to the fullest extent practicable, in such manner as the Servicer shall from time to time direct as set forth in Section 5.05(a), but only in one or more Eligible Investments. (e) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any the Collection Account (excluding and the Certificate Insurance Payment Account) Distribution Account shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in the related Collection Account, the Distribution Account or the Initial Interest Coverage Account, as the case may be, the amount of any loss incurred in respect of any Permitted Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor therefore from its own funds.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the Servicer, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Eligible Investments described in paragraph (ivvi) of the definition of Permitted Eligible Investments. No Except as provided in Section 5.08(f), no such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that (i) if such Permitted Eligible Investment is an obligation of the Trustee, then such Permitted Eligible Investment shall mature not later than such Distribution Date, and (ii) such Eligible Investments may mature on any other date as may be approved by the Rating Agencies and the Certificate Insurer). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's ’s failure to perform in accordance with this Section 6.06 5.08 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.065.08). (d) The Trustee shall invest and reinvest funds in the Accounts held by the Trustee, to the fullest extent practicable, in such manner as the Servicer shall from time to time direct as set forth in Section 5.08(a), but only in one or more Eligible Investments. (e) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, on funds deposited in any in, the Collection Account, the Distribution Account (excluding and the Certificate Insurance Payment Account) Simple Interest Excess Account shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in the related Collection Account, the Distribution Account, the Simple Interest Excess Account or the Spread Account, as the case may be, the amount of any loss incurred in respect of any Permitted Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds. Income or gain from Eligible Investments held in the Spread Account and, if an Event of Default shall have occurred and be continuing, from all other Eligible Investments shall be deposited into the Spread Account. (f) Amounts on deposit in the Spread Account may be invested at the Servicer’s direction and in accordance with the following guidelines: (1) as of any date of determination, no less than the greater of (i) an amount equal to 33% times the aggregate Base Spread Account Requirement, and (ii) an amount equal to the sum of the aggregate Principal Balances of Mortgage Loans that have converted to REO Properties and Mortgage Loans in foreclosure, but, in the case of both clauses (i) and (ii) hereof, in no event more than the aggregate Base Spread Account Requirement, shall mature no later than the Business Day immediately preceding the next Distribution Date; and (2) as of any date of determination, no more than the greater of (i) an amount equal to 33% times the aggregate Base Spread Account Requirement, and (ii) an amount equal to the sum of the aggregate Principal Balances of Mortgage Loans that have converted to REO Properties and an amount equal to 33% times the aggregate Principal Balances of Mortgage Loans that are 90 or more days delinquent (including Mortgage Loans in foreclosure), but, in the case of both clauses (i) and (ii) hereof, in no event more than the aggregate Base Spread Account Requirement, may mature no later than the Business Day immediately preceding the second succeeding Distribution Date; and (3) as of any date of determination, the excess of the amounts on deposit in the Spread Account over the amounts described in Section 5.08(f)(1) and (2) may mature no later than the Business Day next preceding the third succeeding Distribution Date; provided, however, that amounts on deposit in the Spread Account may mature at a later date than that set forth in clauses (1), (2) and (3) above, upon receipt by the Trustee of the Certificate Insurer’s consent and confirmation in writing from each Rating Agency that such investment’s maturity shall not result in a downgrade of the ratings on the Class A or Class A-IO Certificates without giving effect to the Certificate Insurance Policy.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account (other than the Certificate Insurance Payment Account Payments Account) held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the Servicer, Master Servicer (with respect to the Certificate Accounts up to the Business Day prior to each Distribution Date) or the Trustee (with respect to the Certificate Accounts from the Business Day prior to each Distribution Date to such Distribution Date) or the Company (with respect to the Pre-Funding Accounts and the Interest Coverage Accounts) in one or more Permitted Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Master Servicer or the Company does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (ivd) of the definition of Permitted Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment Investments included therein (other than with respect to the investment of funds in the Certificate Accounts from the Business Day prior to each Distribution Date to such Distribution Date, and except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06). (d) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment AccountPre-Funding Accounts and the Interest Coverage Accounts) shall be for the benefit of the Master Servicer as servicing compensation (in addition to the Servicing Fee) and the benefit of the Trustee as compensation (in addition to the Trustee Fee). The Master Servicer and the Trustee shall deposit in each Account (excluding the related Pre-Funding Accounts and the Interest Coverage Accounts) and the Company shall deposit in each Pre-Funding Account and Interest Coverage Account, from its own funds, the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor therefor; provided, however, that the Master Servicer shall only be responsible for the reimbursement of losses in the Certificate Accounts up until the Business Day prior to each Distribution Date, and the Trustee shall only be responsible for the reimbursement of losses from its own fundsthe Business Day prior to each Distribution Date to such Distribution Date.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Collection Account held by or in the Trustee name of the Trust Administrator shall be invested and reinvested by the TrusteeTrust Administrator, as directed in writing by the Master Servicer, in one or more Permitted Eligible Investments bearing interest or sold at a discount; such direction to be signed by a Responsible Officer. If an Event of Default shall have occurred and be continuing or if the Master Servicer does not provide investment directions, the Trustee Trust Administrator shall invest all Accounts the Collection Account in Permitted Eligible Investments described in paragraph paragraphs (ivv) or (vi) of the definition of Permitted Eligible Investments. No such investment in any the Collection Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any the Collection Account held by the Trustee Trust Administrator and sufficient uninvested funds are not available to make such disbursement, the Trustee Trust Administrator shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. No liquidation of amounts of investments in the Collection Account will be required prior to maturity unless the proceeds are needed for disbursements. (c) The Trustee Trust Administrator shall not be, and the Servicer shall be, in any way be held liable for the selection of Eligible Investments to be purchased or sold pursuant to this Section 4.05 or by reason of any investment loss or other charge or any insufficiency in the Collection Account held by or in the name of the Trust Administrator resulting therefrom from any investment loss on any Eligible Investment included therein unless the TrusteeTrust Administrator's failure to perform in accordance with this Section 6.06 4.05 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment included therein (charge except to the extent that the Trustee Trust Administrator is the obligor and has defaulted thereon thereon. The Trust Administrator shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or as provided in subsection (b) the failure of this Section 6.06)the Master Servicer to provide timely written investment direction. (d) The Trust Administrator shall invest and reinvest funds in the Collection Account held by or in the name of the Trust Administrator, to the fullest extent practicable, in such manner as the Master Servicer shall from time to time direct as set forth in Section 4.05(a), but only in one or more Eligible Investments. (e) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all realized earnings on, funds deposited in any the Collection Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Master Servicer as servicing compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Master Servicer shall deposit in the related Collection Account the amount of any loss incurred in respect of any Permitted Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such lossloss from its own funds, without any right to reimbursement therefor from its own fundstherefor.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account (other than the Certificate Insurance Payment Account Payments Account) held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the Servicer, Master Servicer (with respect to the Certificate Accounts up to the Business Day prior to each Distribution Date) or the Trustee (with respect to the Certificate Accounts from the Business Day prior to each Distribution Date to such Distribution Date) or the Company in one or more Permitted Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Master Servicer or the Company does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (ivd) of the definition of Permitted Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment Investments included therein (other than with respect to the investment of funds in the Certificate Accounts from the Business Day prior to each Distribution Date to such Distribution Date, and except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06). (d) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Master Servicer as servicing compensation (in addition to the Servicing Fee) and the benefit of the Trustee as compensation (in addition to the Trustee Fee). The Master Servicer and the Trustee shall deposit in the related Account each Account, from its own funds, the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor therefor; provided, however, that the Master Servicer shall only be responsible for the reimbursement of losses in the Certificate Accounts up until the Business Day prior to each Distribution Date, and the Trustee shall only be responsible for the reimbursement of losses from its own fundsthe Business Day prior to each Distribution Date to such Distribution Date.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent Consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee for the benefit of the Owners and the Certificate Insurer shall be invested and reinvested by the TrusteeTrustee in the name of the Trustee for the benefit of the Owners and the Certificate Insurer, as directed in writing by the ServicerDepositor, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If The bank serving as Trustee or any affiliate thereof may be the obligor on any investment which otherwise qualifies as an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted InvestmentsEligible Investment. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Payment Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (c) Subject to Section 9.01 10.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the bank serving as Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long as no Event of Default The Trustee shall invest and reinvest funds in the Accounts held by the Trustee, in accordance with the written instructions delivered to the Trustee on the Startup Day, but only in one or more Eligible Investments bearing interest or sold at a discount. If the Depositor shall have occurred and failed to give investment directions to the Trustee then the Trustee shall invest in money market funds described in Section 7.07(h); to be continuing, all net redeemable without penalty no later than the Business Day immediately preceding the next Payment Date. (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Trustee shall be for the benefit account of the Owners of the Class R-I Certificates and distributed to the Owners of the Class R-I Certificates immediately prior to any distribution under Section 7.03 hereof on any Payment Date, and any loss resulting from such investments shall be for the account of the Servicer as servicing compensation (in addition to and promptly upon the Servicing Fee). The Servicer shall deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right loss the Servicer shall contribute funds in an amount equal to reimbursement therefor from its own fundssuch loss to such Account.

Investment of Accounts. (a) So long as no Event of Default Servicing Termination shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any the Collection Account other than the Certificate Insurance Payment Account held by the Trustee shall may be invested and reinvested by the Master Servicer pursuant to Section 3.02(c) of this Agreement and all or a portion of the Distribution Account may be invested and reinvested by the Indenture Trustee, as directed in writing by the Master Servicer, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If an Event of Default Servicing Termination shall have occurred and be continuing or if the Master Servicer does not provide investment directions, the Indenture Trustee shall invest all Accounts in Permitted Eligible Investments described in paragraph (ivvi) of the definition of Permitted Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Payment Date (except that (i) if such Permitted Eligible Investment is (a) an investment described in item (vi) of Eligible Investments if such Eligible Investments are held by the Indenture Trustee or (b) an obligation of the Indenture Trustee, then such Permitted Eligible Investment shall mature not later than such Distribution DatePayment Date and (ii) or any other date prior to such Payment Date as may be approved by the Rating Agencies and the Insurer). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Indenture Trustee and sufficient uninvested funds are not available to make such disbursement, the Indenture Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the The Indenture Trustee shall not in any way be held liable for the selection of Eligible Investments by the Master Servicer or by reason of any investment loss or charge or any insufficiency in any the Collection Account held by the Indenture Trustee resulting from any investment loss on any Permitted Eligible Investment included therein unless the Indenture Trustee’s failure to perform in accordance with this Section is the cause of such loss or charge (except to the extent that the Indenture Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06Section). The Indenture Trustee shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment made with funds on deposit in the Collection Account prior to its stated maturity or the failure of the Master Servicer to provide timely written investment direction. In the absence of written investment direction, the Indenture Trustee shall invest funds in the Accounts in the Eligible Investment described in clause (vi) of the definition thereof. (d) So long The Indenture Trustee may invest and reinvest funds in the Accounts held by the Indenture Trustee (other than the Policy Payments Account), to the fullest extent practicable, in such manner as no Event the Master Servicer shall from time to time direct as set forth in Section 5.06(a), but only in one or more Eligible Investments. Notwithstanding the foregoing, funds in the Distribution Account may remain uninvested for one Business Day. (e) All net income and gain realized from investment of, and all earnings on, funds deposited in the Collection Account through the second day preceding the day on which such funds are to be deposited in the Distribution Account shall be for the benefit of Default shall have occurred the Master Servicer as servicing compensation (in addition to the Master Servicing Fee) and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited (i) in any the Collection Account from the day preceding the day on which such funds are to be deposited in the Distribution Account and (excluding ii) in the Certificate Insurance Payment Account) Distribution Account shall be for the benefit of the Servicer as servicing compensation (Indenture Trustee, and shall be subject to withdrawal on or before the first Business Day of the month following the month in addition to the Servicing Fee)which such income or gain is received. The Master Servicer shall deposit in the related Collection Account and the Indenture Trustee shall deposit in the Distribution Account, as the case may be, the amount of any loss incurred in respect of any Permitted Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such lossloss from its own funds, without any right to reimbursement therefor from its own fundstherefore.

Investment of Accounts. (a) So long as no Event of Servicer Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the TrusteeTrustee (or remain uninvested), as directed in writing by the ServicerServicer on its own behalf, in one or more Permitted Investments Instruments (or, in the case of the Collection Account, in such other instruments approved in writing by the Certificate Insurer (with written notice to Xxxxx'x)) bearing interest or sold at a discount. If an Event of a Servicer Default shall have occurred and be continuing or if the Servicer does not provide investment directionscontinuing, the Trustee shall invest all Accounts in Permitted Investments Instruments described in paragraph (iv) of the definition of Permitted InvestmentsInstruments. No At no time shall any such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date date on which such amounts are required by the terms hereof to be withdrawn from such Account, which (except that if such Permitted Investment is an obligation i) in the case of the TrusteeCollection Account, then such Permitted Investment shall mature not later than such Distribution be the next Payment Date), (ii) in the case of the Principal and Interest Account, shall be the third business day preceding the next Payment date and (iii) in all other cases, until the day actually withdrawn pursuant to the terms hereof. (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 6.04 is the cause of such loss or charge. (c) Subject to Section 9.01 12.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment Instrument (or other instrument permitted by Section 6.04(a)) included therein herein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long The Trustee shall invest and reinvest funds in the Accounts held by it, to the fullest extent practicable, in such manner as no Event of Default the Servicer shall have occurred and be continuingfrom time to time direct as set forth in Section 6.04(a), all net but only in one or more Permitted Instruments (or other instrument permitted by Section 6.04(a)). (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Trustee, or from amounts on deposit in such Account and invested in Permitted Instruments, shall be for deposited in such Account, as the benefit of case may be, immediately on receipt, and the Trustee shall notify the Servicer as servicing compensation (in addition to of any loss resulting from such investments. Upon receipt of such notification, the Servicing Fee). The Servicer shall deposit in the related Account promptly remit the amount of any such loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds, without reimbursement therefor, to the Trustee for deposit in the Account from which the related funds were withdrawn for investment. (f) Any investment earnings on funds held in the Principal and Interest Account may be reinvested by the Servicer and the proceeds of such reinvestment are for the account of the Servicer.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the Servicer, in one or more Permitted Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (ivv) of the definition of Permitted Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Date). (b) Subject to Section 6.01(b), if any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06). (d) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer shall deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds.

Investment of Accounts. (a) So long as no Event of default or Servicer Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the Trustee, Trustee as directed in writing by the Servicer, in one or more Permitted Investments Instruments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investments. No such investment in any the Note Distribution Account shall mature later than the Business Day immediately preceding the next Distribution Remittance Date (except that if and no such Permitted Investment is an obligation of investment in the TrusteeExpense Account, then such Permitted Investment Pre-Funding Account, Capitalized Interest Account or FHA Premium Account shall mature not later than the Business Day immediately preceding the date such funds will be needed to pay fees or premiums or be transferred to the Note Distribution Date)Account; PROVIDED, HOWEVER, the Trustee or any affiliate thereof may be the obligor on any investment which otherwise qualifies as a Permitted Instrument and any investment on which the Trustee is the obligor may mature on such Remittance Date or date when needed, as the case may be. (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargetherefrom. (c) Subject to Section 9.01 hereofthe provisions of the Indenture, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment Instrument included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long The Trustee shall invest and reinvest funds in the Accounts held by the Trustee to the fullest extent practicable, in such manner as no Event of Default the Servicer shall have occurred and be continuingfrom time to time direct in writing, all net but only in one or more Permitted Instruments. (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Trustee shall be for deposited in such Account, immediately on receipt, and the benefit of Trustee shall notify the Servicer as servicing compensation (in addition to the Servicing Fee)of any loss resulting from such investments. The Servicer shall deposit in the related Account remit the amount of any such loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds, without reimbursement therefor, to the Trustee for deposit in the Account from which the related funds were withdrawn for investment by the next Determination Date following receipt by the Servicer of such notice.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee (except the Distribution Account) shall be invested and reinvested by the Trustee, as directed in writing by the ServicerServicer or by the Securities Administrator with respect to the Distribution Account, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Eligible Investments described in paragraph (ivvi) of the definition of Permitted Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that (i) if such Permitted Eligible Investment is an obligation of the TrusteeTrustee or a money market fund for which the Trustee or any Affiliate is the manager or the advisor, then such Permitted Eligible Investment shall mature not later than such Distribution DateDate and (ii) any other date may be approved by the Rating Agencies). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 5.05 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof9.01, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.065.05). (d) The Trustee shall invest and reinvest funds in the Accounts held by the Trustee, to the fullest extent practicable, in such manner as the Servicer or the Securities Administrator with respect to the Distribution Account shall from time to time direct as set forth in Section 5.05(a), but only in one or more Eligible Investments. (e) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any the Collection Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in the related Collection Account or the Initial Interest Coverage Account, as the case may be, the amount of any loss incurred in respect of any Permitted Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor therefore from its own funds. (f) All net income and gain realized from investment of, and all earnings on, funds deposited in the Distribution Account shall be for the benefit of the Securities Administrator as compensation (in addition to the Securities Administration Fee), and shall be subject to withdrawal on or before the first Business Day of the month in which such income or gain is received. The Securities Administrator shall remit to the Trustee for deposit in the Distribution Account the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon immediately upon the realization of such loss, without any right to reimbursement therefore from its own funds.

Investment of Accounts. (a) So long as no Event of Default Servicing Termination shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Indenture Trustee shall be invested and reinvested by the Indenture Trustee, as directed in writing by the Servicer, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If an Event of Default Servicing Termination shall have occurred and be continuing or if the Servicer does not provide investment directions, the Indenture Trustee shall invest all Accounts in Permitted Eligible Investments described in paragraph (ivvi) of the definition of Permitted Eligible Investments. No such investment in any Account shall mature later than (i) the Business Day immediately preceding the next Distribution Date, in the case of the Distribution Account, (ii) the Monthly Remittance Date immediately preceeding the Distribution Date, in the case of the Principal and Interest Account, or (iii) the third Business Day immediately preceding the next Distribution Date, in the case of the Cross-Collateralization Reserve Accounts (except that that, in the case of the Distribution Account, (i) if such Permitted Eligible Investment is an investment described in item (vi) of Eligible Investments or an obligation of the Indenture Trustee, then such Permitted Eligible Investment shall mature not later than such Distribution DateDate and (ii) any other date as may be approved by the Rating Agencies and the Insurer). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Indenture Trustee and sufficient uninvested funds are not available to make such disbursement, the Indenture Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. . (c) The Indenture Trustee shall not be, and the Servicer shall be, in any way be held liable for the selection of Eligible Investments or by reason of any investment loss or other charge or any insufficiency in any Account held by the Indenture Trustee resulting therefrom from any investment loss on any Eligible Investment included therein unless the Indenture Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment included therein charge (except to the extent that the Indenture Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06Section). The Indenture Trustee shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or the failure of the Servicer to provide timely written investment direction. In the absence of written investment direction, the Indenture Trustee shall invest funds in the Accounts in the Eligible Investment described in clause (vi) of the definition thereof. (d) The Indenture Trustee shall invest and reinvest funds in the Accounts held by the Indenture Trustee, to the fullest extent practicable, in such manner as the Servicer shall from time to time direct as set forth in Section 5.06(a), but only in one or more Eligible Investments. (e) So long as no Event of Default Servicing Termination shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any the Principal and Interest Account (excluding and the Certificate Insurance Payment Account) Distribution Account shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer , and shall deposit (i) in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess case of the Distribution Account, be subject to withdrawal by the Servicer on or before the first Business Day of the month following the month in which such income or gain is received; and gain thereon (ii) in the case of the Principal and Interest Account, be subject to withdrawal by the Servicer immediately upon realization following remittance of such loss, without any right to reimbursement therefor from its own funds.the Monthly Remittance Amount on the Monthly

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by or in the name of the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the Servicer, in one or more Permitted Eligible Investments bearing interest or sold at a discount; such direction to be signed by a Servicing Officer. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Eligible Investments described in paragraph paragraphs (ivv) or (vi) of the definition of Permitted Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. No liquidation of amounts of investments in an Account will be required prior to maturity unless the proceeds are needed for disbursements. (c) The Trustee shall not be, and the Servicer shall be, in any way be held liable for the selection of Eligible Investments to be purchased or sold pursuant to this Section or by reason of any investment loss or other charge or any insufficiency in any Account held by or in the name of the Trustee resulting therefrom from any investment loss on any Eligible Investment included therein unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment included therein (charge except to the extent that the Trustee is the obligor and has defaulted thereon thereon. The Trustee shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or as provided in subsection (b) the failure of this Section 6.06)the Servicer to provide timely written investment direction. (d) The Trustee shall invest and reinvest funds in the Accounts held by or in the name of the Trustee, to the fullest extent practicable, in such manner as the Servicer shall from time to time direct as set forth in Section 5.05(a), but only in one or more Eligible Investments. (e) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all realized earnings on, funds deposited in any the Collection Account (excluding and the Certificate Insurance Payment Account) Distribution Account shall be for the benefit of the Servicer as 49 55 servicing compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in the related Collection Account and the Distribution Account the amount of any loss incurred in respect of any Permitted Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such lossloss from its own funds, without any right to reimbursement therefor from its own fundstherefor.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements All of the Code, all or a portion of any Account other than funds in the Certificate Insurance Payment Account Accounts held by the Indenture Trustee shall be invested and reinvested by the TrusteeIndenture Trustee in the name of the Issuer for the benefit of the Bondholders, as directed in writing by the Servicer, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investments. No such investment in any Account Account, other than the Defeasance Account, shall mature later than the Business Day immediately preceding next Reporting Date or such earlier date as shall be necessary to permit the next Distribution Date Indenture Trustee to make the deposits required by Section 5.03 and Section 5.04. The Indenture Trustee shall act as a securities intermediary and shall: (except that if such i) hold each Permitted Investment that constitutes investment property and shall further (I) agree that such investment property shall at all times be credited to a securities account of which the Indenture Trustee is an obligation the “entitlement holder” as defined in Section 8-102(a)(7) of the TrusteeUCC, then (II) comply with “entitlement orders” as defined in Section 8-102(a)(8) of the UCC originated solely by the Indenture Trustee without the further consent of any other Person, (III) agree that all property credited to such Permitted securities account shall be treated as a “financial asset” as such term is defined in Section 8-102(a)(9) of the UCC, (IV) waive any Lien on any property credited to such securities account, and (V) agree that its jurisdiction for purposes of Section 8-110 and Section 9-305(a)(3) of the UCC shall be Delaware, and that such agreement shall be governed by the laws of the State of Delaware; and (ii) maintain for the benefit of the Bondholders, possession or control of each other Eligible Investment (including any negotiable instruments, if any, evidencing such Eligible Investments). Terms used in clause (i) above that are defined in the Delaware UCC and not otherwise defined herein shall mature not later than such Distribution Date)have the meaning set forth in the Delaware UCC. (b) Subject to Section 6.01(b), if any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement9.01, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the Indenture Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Indenture Trustee resulting from any investment loss on any Permitted Eligible Investment included therein therein. The Servicer shall promptly reimburse each Account suffering a loss (except but only to the extent that the Trustee is the obligor and has defaulted thereon or as provided Servicer directed which Eligible Investments would be made in subsection (b) of this Section 6.06). (d) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment such Account) shall be for the benefit of the Servicer as servicing compensation (in addition an amount equal to the Servicing Fee)such loss. The Servicer shall deposit in the related Account the amount of any such loss incurred no later than the Business Day prior to the next Payment Date. (c) All funds in respect the Accounts held by the Indenture Trustee shall be invested in the Xxxxxx Xxxxxxx Institutional Liquidity Fund – Treasury Portfolio (Institutional Share Class) if the Servicer shall have failed to give investment directions to the Indenture Trustee within ten days after receipt of any Permitted Investment held therein which is a written request for such directions from the Indenture Trustee. The Indenture Trustee shall have no liability for interest on uninvested funds or for the performance of investments relating to funds in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own fundsAccounts.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent Consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee for the benefit of the Owners shall be invested and reinvested by the TrusteeTrustee in the name of the Trust for the benefit of the Owners, as directed in writing by the ServicerSeller, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If The bank serving as Trustee or any affiliate thereof may be the obligor on any investment which otherwise qualifies as an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted InvestmentsEligible Investment. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Payment Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (c) Subject to Section 9.01 10.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the bank serving as Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long as no Event of Default The Trustee shall invest and reinvest funds in the Accounts held by the Trustee, in accordance with the written instructions delivered to the Trustee on the Startup Day, but only in one or more Eligible Investments bearing interest or sold at a discount. If the Seller shall have occurred and failed to give investment directions to the Trustee then the Trustee shall invest in money market funds described in Section 7.07(j) to be continuing, all net redeemable without penalty no later than the Business Day immediately preceding the next Payment Date. (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Trustee shall be for deposited in such Account immediately on receipt, and any loss resulting from such investments shall be charged to such Account, as appropriate, subject to the benefit requirement of Section 8.08(b) that the Servicer contribute funds in an amount equal to such loss in the case of the Servicer as servicing compensation (in addition to the Servicing Fee)Principal and Interest Account. The Servicer shall deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the For federal income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds.tax

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all All or a portion of any Account (other than the Certificate Insurance Payment REMIC II Distribution Account and the REMIC III Distribution Account) held by the Trustee shall be invested and reinvested by the TrusteeTrustee (or remain uninvested), as directed in writing by the ServicerAdvancing Party on its own behalf, in one or more Permitted Investments Instruments (or, in the case of the REMIC I Distribution Account, in such other instruments approved in writing by the Certificate Insurer (with written notice to each Rating Agency)) bearing interest or sold at a discount. If an Event of Default At no time shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investments. No any such investment in any Account shall mature later than the Business Day immediately preceding the date on which such amounts are required by the terms hereof to be withdrawn from such Account, which (i) in the case of the REMIC I Distribution Account, shall be the next Distribution Date, (ii) in the case of the Principal and Interest Account, shall be the second business day preceding the next Distribution Date and (except that if such Permitted Investment is an obligation of iii) in all other cases, until the Trustee, then such Permitted Investment shall mature not later than such Distribution Date)day actually withdrawn pursuant to the terms hereof. (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 6.04 is the cause ------------ of such loss or charge. (c) Subject to Section 9.01 12.01 hereof, the Trustee shall not in any way ------------- be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment Instrument (or other instrument permitted by Section 6.04(a)) included therein herein (except to the extent --------------- that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long The Trustee shall invest and reinvest funds in the Accounts held by it, to the fullest extent practicable, in such manner as no Event of Default the Advancing Party shall have occurred and be continuing, all net income and gain realized from investment oftime to time direct as set forth in, and all as limited by, Section ------- 6.04(a), but only in one or more Permitted Instruments (or other instrument ------- permitted by Section 6.04(a)). All investment earnings on, funds deposited in any Account (excluding on such Accounts and --------------- interest earned on the Certificate Insurance Payment Account) deposits therein shall be for the benefit account of the Servicer Advancing Party, except as servicing compensation (provided in addition Section 12.05 with respect to the Servicing Fee). The Servicer shall ------------- Trustee's compensation. (e) All income or other gain from investments in any Account held by the Trustee, or from amounts on deposit in such Account and invested in Permitted Instruments, shall be deposited in such Account, as the related Account case may be, immediately on receipt, and the Trustee shall notify the Advancing Party of any loss resulting from such investments. Upon receipt of such notification, the Advancing Party shall promptly remit the amount of any such loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds, without reimbursement therefor, to the Trustee for deposit in the Account from which the related funds were withdrawn for investment. (f) Any investment earnings on funds held in the Principal and Interest Account shall be reinvested by the Servicer at the direction of the Advancing Party. All such investment earnings, the proceeds of the reinvestment thereof, and all interest earned on deposits in the Principal and Interest Account, are for the account of the Advancing Party.

Investment of Accounts. (a) So long as no Event event described in Section 5.1(a) of Default the Sale and Servicing Agreement shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account Accounts held by the Indenture Trustee shall be invested and reinvested by the TrusteeIndenture Trustee in the name of the Indenture Trustee for the benefit of the Class A Noteholders and the Insurer, as directed in writing by the Master Servicer, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If During the continuance of an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments event described in paragraph (ivSection 5.1(a) of the definition Sale and Servicing Agreement and following any removal of Permitted Investmentsthe Master Servicer, the Insurer shall direct such investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Payment Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Indenture Trustee and sufficient uninvested funds are not available to make such disbursement, the Indenture Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (c) Subject to Section 9.01 hereof, the The Indenture Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Indenture Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06)therein. (d) So long The Indenture Trustee shall hold funds in the Accounts held by the Indenture Trustee uninvested upon the occurrence of either of the following events: (i) the Master Servicer or the Insurer, as no Event of Default the case may be, shall have occurred and failed to give investment directions to the Indenture Trustee; or (ii) the Master Servicer or the Insurer, as the case may be, shall have failed to give investment directions to the Indenture Trustee by 11:15 a.m. New York time (or such other time as may be continuingagreed by the Master Servicer or the Insurer, all net income and gain realized from investment ofas the case may be, and all earnings on, funds deposited in the Indenture Trustee) on any Account Business Day (excluding any such investment by the Certificate Insurance Payment AccountIndenture Trustee pursuant to this clause (ii) shall be for to mature on the benefit of next Business Day after the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer shall deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization date of such loss, without any right to reimbursement therefor from its own fundsinvestment).

Investment of Accounts. (a) So long as no default or Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than which is not by the Certificate Insurance Payment Account terms of this Agreement to be held uninvested held by the Trustee or the Spread Account Custodian shall be invested and reinvested by the TrusteeTrustee or the Spread Account Custodian, as directed in writing by the Servicer, in one or more Permitted Investments Instruments in the name of the Trustee or the Spread Account Custodian, as the case may be, bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investments. No such investment in any the Certificate Account, the Pre-Funding Account, the Capitalized Interest Account and the Spread Account shall mature later than the Business Day immediately preceding the next Distribution Remittance Date (except that if and no such Permitted Investment is an obligation of investment in the Trustee, then such Permitted Investment Expense Account shall mature not later than the Business Day immediately preceding the date such Distribution Date)funds will be needed to pay fees or premiums; provided, however, the Trustee or any affiliate thereof, may be the obligor on any investment which otherwise qualifies as a Permitted Instrument and any investment on which the Trustee is the obligor may mature on such Remittance Date or date when needed, as the case may be. (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee or the Spread Account Custodian and sufficient uninvested funds are not available to make such disbursement, the Trustee or the Spread Account Custodian, as the case may be, shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Neither the Trustee nor the Spread Account Custodian shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargetherefrom. (c) Subject to Section 9.01 12.01 hereof, neither the Trustee nor the Spread Account Custodian shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee or the Spread Account Custodian resulting from any investment loss on any Permitted Investment Instrument included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long The Trustee and the Spread Account Custodian shall invest and reinvest funds in the Accounts held by the Trustee or the Spread Account Custodian, to the fullest extent practicable, in such manner as no Event of Default the Servicer shall have occurred and be continuingfrom time to time direct in writing, all net but only in one or more Permitted Instruments. (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Trustee or the Spread Account Custodian shall be for deposited in such Account, as the benefit of case may be, immediately on receipt, and the Trustee or the Spread Account Custodian shall notify the Servicer as servicing compensation (in addition to the Servicing Fee)of any loss resulting from such investments. The Servicer shall deposit in the related Account remit the amount of any such loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds, without reimbursement therefor, to the Trustee or the Spread Account Custodian, as the case may be, for deposit in the Account from which the related funds were withdrawn for investment by the next Determination Date following receipt by the Servicer of such notice.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the ServicerServicer or Seller, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described the following: Deutsche Cash Management Fund. Except as provided in paragraph (iv) of the definition of Permitted Investments. No Section 5.08(f), no such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that (i) if such Permitted Eligible Investment is an obligation of the Trustee, then such Permitted Eligible Investment shall mature not later than such Distribution Date, and (ii) such Eligible Investments may mature on any other date as may be approved by the Rating Agencies and the Certificate Insurer). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's ’s failure to perform in accordance with this Section 6.06 5.08 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.065.08). (d) The Trustee shall invest and reinvest funds in the Accounts held by the Trustee, to the fullest extent practicable, in such manner as the Servicer shall from time to time direct as set forth in Section 5.08(a), but only in one or more Eligible Investments. (e) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, on funds deposited in any in, the Collection Account, the Distribution Account, the Pre-Funding Account, the Capitalized Interest Account, the Spread Account (excluding and the Certificate Insurance Payment Account) Basis Risk Reserve Fund shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in into the related Collection Account, the Distribution Account, the Pre-Funding Account, the Capitalized Interest Account, the Spread Account or the Basis Risk Reserve Fund, as the case may be, the amount of any loss incurred in respect of any Permitted Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds. Income or gain from Eligible Investments held in the Spread Account and, if an Event of Default shall have occurred and be continuing, from all other Eligible Investments shall be deposited into the Spread Account. (f) Amounts on deposit in the Spread Account may be invested at the Servicer’s direction and in accordance with the following guidelines: (1) as of any date of determination, no less than the greater of (i) an amount equal to 33% times the Base Spread Account Requirement, and (ii) an amount equal to the sum of the Aggregate Principal Balances of Mortgage Loans that have converted to REO Properties and Mortgage Loans in foreclosure, but, in the case of both clauses (i) and (ii) hereof, in no event more than the Base Spread Account Requirement, shall mature no later than the Business Day immediately preceding the next Distribution Date; and (2) as of any date of determination, no more than the greater of (i) an amount equal to 33% times the Base Spread Account Requirement, and (ii) an amount equal to the sum of the Aggregate Principal Balances of Mortgage Loans that have converted to REO Properties and an amount equal to 33% times the Aggregate Principal Balances of Mortgage Loans that are 90 or more days delinquent (including Mortgage Loans in foreclosure), but, in the case of both clauses (i) and (ii) hereof, in no event more than the Base Spread Account Requirement, may mature no later than the Business Day immediately preceding the second succeeding Distribution Date; and (3) as of any date of determination, the excess of the amounts on deposit in the Spread Account over the amounts described in Section 5.08(f)(1) and (2) may mature no later than the Business Day next preceding the third succeeding Distribution Date; provided, however, that amounts on deposit in the Spread Account may mature at a later date than that set forth in clauses (1), (2) and (3) above, upon receipt by the Trustee of the Certificate Insurer’s consent and confirmation in writing from each Rating Agency that such investment’s maturity shall not result in a downgrade of the ratings on the Class A Certificates without giving effect to the Certificate Insurance Policy. The Trustee shall have no obligation to invest and reinvest any cash held in the Accounts in the absence of timely and specific written investment direction from the Servicer. In no event shall the Trustee be liable for the selection of investments or for investment losses incurred thereon. The Trustee shall have no liability in respect of losses incurred as a result of the liquidation of any investment prior to its stated maturity or the failure of the Servicer to provide timely written investment direction. The Trustee or its Affiliates are permitted to receive additional compensation that could be deemed to be in the Trustee’s economic self-interest for (i) serving as investment adviser, administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Eligible Investments, (ii) using Affiliates to effect transactions in certain Eligible Investments and (iii) effecting transactions in certain Eligible Investments.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent Consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee for the benefit of the Owners shall be invested and reinvested by the TrusteeTrustee in the name of the Trust, as directed in writing by the ServicerSeller, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If The bank serving as Trustee or any affiliate thereof may be the obligor on any investment which otherwise qualifies as an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted InvestmentsEligible Investment. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Payment Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (c) Subject to Section 9.01 10.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the bank serving as Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long as no Event of Default The Trustee shall invest and reinvest funds in the Accounts held by the Trustee, in accordance with the written instructions delivered to the Trustee on the Startup Day, but only in one or more Eligible Investments bearing interest or sold at a discount. If the Seller shall have occurred and failed to give investment directions to the Trustee then the Trustee shall invest in money market funds described in Section 7.07(k) to be continuing, all net redeemable without penalty no later than the Business Day immediately preceding the next Payment Date. (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Trustee shall be for deposited in such Account immediately on receipt, and any loss resulting from such investments shall be charged to such Account, as appropriate, subject to the benefit requirement of Section 8.08(b) that the Servicer contribute funds in an amount equal to such loss in the case of the Servicer Principal and Interest Account. For federal income tax purposes, the earnings on the Capitalized Interest Account and Pre-Funding Account shall be treated as servicing compensation (in addition to the Servicing Fee). The Servicer shall deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess income of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own fundsSeller.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account (other than the Certificate Insurance Payment Account Payments Account) held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the Servicer, Servicer (with respect to the Certificate Accounts) or the Depositor (with respect to the Pre- Funding Account and the Interest Coverage Accounts) in one or more Permitted Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (ivd) of the definition of Permitted Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Date). (b) Subject to Section 6.01(b), if any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06). (dc) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment Pre-Funding Account and the Capitalized Interest Account) shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer shall deposit in each Account (excluding the related Pre-Funding Account and the Capitalized Interest Account) and the Depositor shall deposit in each Pre-Funding Account and Capitalized Interest Account, the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds.

Investment of Accounts. (a) So long as no Event of Default ---------------------- shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the ServicerCertificate Administrator, in one or more Permitted Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer Certificate Administrator does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (ivvi) of the definition of Permitted Investments. No such investment in any the Certificate Account shall mature no later than the Business Day immediately preceding the next Distribution Date (except that (i) if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution DateDate and (ii) any other date as may be approved by the Rating Agencies). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any the Certificate Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such the Certificate Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 5.08 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any the Certificate Account held by the Trustee resulting from any investment loss on any Permitted Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.065.08). (d) So long The Trustee shall invest and reinvest funds in the Certificate Account, to the fullest extent practicable, in such manner as no Event of Default the Certificate Administrator shall have occurred and be continuingfrom time to time direct as set forth in Section 5.08(a), all but only in one or more Permitted Investments. (e) All net income and gain realized from investment of, and all earnings on, funds deposited in any the Collection Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received and all net income and gain realized from investment of, and all earnings on, funds deposited in the Certificate Account shall be for the benefit of the Certificate Administrator (in addition to the Administration Fee) and shall be paid to the Certificate Administrator pursuant to Section 5.01. The Servicer shall deposit in the related Collection Account and the Certificate Administrator in the Certificate Account, the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor therefore from its own funds.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent Consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Grantor Trustee for the benefit of the Owners and the Certificate Insurer shall be invested and reinvested by the TrusteeGrantor Trustee in the name of the Grantor Trustee for the benefit of the Owners and the Certificate Insurer, as directed in writing by the ServicerDepositor, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If The bank serving as Grantor Trustee or any affiliate thereof may be the obligor on any investment which otherwise qualifies as an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted InvestmentsEligible Investment. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Payment Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Grantor Trustee and sufficient uninvested funds are not available to make such disbursement, the Grantor Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (c) Subject to Section 9.01 10.01 hereof, the Grantor Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Grantor Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the bank serving as Grantor Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long as no Event of Default The Grantor Trustee shall invest and reinvest funds in the Accounts held by the Grantor Trustee, in accordance with the written instructions delivered to the Grantor Trustee on the Startup Day, but only in one or more Eligible Investments bearing interest or sold at a discount. If the Depositor shall have occurred and failed to give investment directions to the Grantor Trustee then the Grantor Trustee shall invest in money market funds described in Section 7.07(g); to be continuing, all net redeemable without penalty no later than the Business Day immediately preceding the next Payment Date. (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Grantor Trustee shall be for the benefit account of the Servicer as servicing compensation (in addition and shall be distributed to the Servicing Fee). The Servicer shall deposit in the related Account the amount of immediately prior to any distribution under Section 7.03 hereof on any Payment Date, and any loss incurred in respect of any Permitted Investment held therein which is in excess resulting from such investments shall be for the account of the income Servicer and gain thereon immediately promptly upon the realization of such loss, without any right loss the Servicer contribute funds in an amount equal to reimbursement therefor from its own fundssuch loss to such Account.

Investment of Accounts. (a) So long as no Event of Servicer Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the TrusteeTrustee (or remain uninvested), as directed in writing by the ServicerServicer on its own behalf, in one or more Permitted Investments Instruments (or, in the case of the Collection Account, in such other instruments approved in writing by the Certificate Insurer (with written notice to [Rating Agency])) bearing interest or sold at a discount. If an Event of a Servicer Default shall have occurred and be continuing or if the Servicer does not provide investment directionscontinuing, the Trustee shall invest all Accounts in Permitted Investments Instruments described in paragraph (iv) of the definition of Permitted InvestmentsInstruments. No At no time shall any such investment in any Account shall mature later than the Business Day immediately preceding the date on which such amounts are required by the terms hereof to be withdrawn from such Account, which (i) in the case of the Collection Account, shall be the next Distribution Date, (ii) in the case of the Principal and Interest Account, shall be the third business day preceding the next Distribution Date and (except that if such Permitted Investment is an obligation of iii) in all other cases, until the Trustee, then such Permitted Investment shall mature not later than such Distribution Date)day actually withdrawn pursuant to the terms hereof. (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 6.04 is the cause of such loss or charge. (c) Subject to Section 9.01 12.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment Instrument (or other instrument permitted by Section 6.04(a)) included therein herein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long The Trustee shall invest and reinvest funds in the Accounts held by it, to the fullest extent practicable, in such manner as no Event of Default the Servicer shall have occurred and be continuingfrom time to time direct as set forth in Section 6.04(a), all net but only in one or more Permitted Instruments (or other instrument permitted by Section 6.04(a)). (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Trustee, or from amounts on deposit in such Account and invested in Permitted Instruments, shall be for deposited in such Account, as the benefit of case may be, immediately on receipt, and the Trustee shall notify the Servicer as servicing compensation (in addition to of any loss resulting from such investments. Upon receipt of such notification, the Servicing Fee). The Servicer shall deposit in the related Account promptly remit the amount of any such loss from its own funds, without reimbursement therefor, to the Trustee for deposit in the Account from which the related funds were withdrawn for investment. (f) Any investment earnings on funds held in the Principal and Interest Account may be reinvested by the Servicer and the proceeds of such reinvestment are for the account of the Servicer. (g) Notwithstanding any of the foregoing provisions of this Section 6.04, at the option of the Class X Certificateholders, exercised by written direction to the Trustee (such written direction, the "Holder Discretion Notice"), all or specified percentages (such specified percentage not to exceed the Percentage Interest of the Class X Certificates of such Holder) of the funds on deposit in the Spread Account shall be segregated into separate sub-accounts (each, a "Holder Discretion Account") in a manner designated by such Class X Certificateholder which does not impair the Class A Certificateholders' or the Certificate Insurer's interest in distributions from the Spread Account or in any such separate sub-accounts. Amounts in any Holder Discretion Account shall be invested in Permitted Instruments at the direction of the Class X Certificateholder designated in the Holder Discretion Notice (the percentage of such funds to be invested at the direction of any one Class X Certificateholder not to exceed the Percentage Interest of the Class X Certificates of such Class X Certificateholder). The Trustee shall separately report investment income on such amounts so invested to such Class X Certificateholder. The Class X Certificateholder directing the investments in any Holder Discretion Account shall deposit in such Holder Discretion Account, from its own funds, the amount of any losses incurred in respect of any Permitted Investment held therein which is in excess such investments no later than the close of business on the income and gain thereon Business Day immediately upon realization of preceding the Distribution Date immediately following such loss. The Trustee shall have no liability or responsibility with respect to any Holder Discretion Account and the provisions of Sections 6.04(a), without any right to reimbursement therefor from its own funds(b), (d) and (e) shall no longer apply thereto.

Investment of Accounts. (a) So long as no Event of Default event described in Sections 8.20(a) or (b) hereof shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account Accounts held by the Trustee shall be invested and reinvested by the TrusteeTrustee in the name of the Trustee for the benefit of the Owners and the Insurer, as their interests may appear, as directed in writing by the Master Servicer, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If During the continuance of an Event event described in Sections 8.20(a) or (b) hereof and following any removal of Default shall have occurred and be continuing or if the Servicer does not provide investment directionsMaster Servicer, the Trustee Control Party shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investmentsdirect such investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Payment Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (c) Subject to Section 9.01 10.1 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except and only to the extent that the bank serving as Trustee is the obligor thereon and has defaulted thereon or as provided in subsection (b) of this Section 6.06is otherwise liable). (d) So long The Trustee shall hold funds in the Accounts held by the Trustee uninvested upon the occurrence of either of the following events: (i) the Master Servicer or the Control Party, as no Event of Default the case may be, shall have occurred and be continuing, all net income and gain realized from failed to give investment of, and all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation (in addition directions to the Servicing FeeTrustee within ten days after receipt of a written request for such directions from the Trustee; or (ii) the Master Servicer or the Control Party, as the case may be, shall have failed to give investment directions to the Trustee during the ten-day period described in clause (d)(i) preceding, by 11:15 a.m. New York time (or such other time as may be agreed by the Master Servicer and the Trustee) on any Business Day (any such investment by the Trustee pursuant to this clause (d)(ii) to mature on the next Business Day after the date of such investment). The Servicer . (e) For purposes of investment, the Trustee shall aggregate all amounts on deposit in the related Account Accounts. All income or other gain from investments in the amount of Accounts shall be deposited, pro rata, in the Accounts immediately on receipt, and any loss incurred in respect of any Permitted Investment held therein which is in excess of resulting from such investments shall be charged, pro rata, to the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own fundsAccounts.

Investment of Accounts. (a) So long as no Event of ---------------------- Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the Master Servicer, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Master Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Eligible Investments described in paragraph (ivvi) of the definition of Permitted Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that (i) if such Permitted Eligible Investment is an obligation of the Trustee, then such Permitted Eligible Investment shall mature not later than such Distribution DateDate and (ii) any other date as may be approved by the Rating Agencies and the Certificate Insurer). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 5.05 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof9.01, the Trustee shall not in any way be held liable by reason of any investment loss or charge or any insufficiency in any Account held by the Trustee it resulting from any investment loss on any Permitted Eligible Investment included therein unless the Trustee's failure to perform in accordance with this Section is the cause of such loss or charge (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06Section). (d) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer shall deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds.

Investment of Accounts. (a) So long as no Event of Servicer Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account (other than the Certificate Insurance Payment amounts deposited in the Collection Account on the Closing Date) held by or in the name of the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the Master Servicer, in one or more Permitted Eligible Investments (including Eligible Investments which are obligations of the Master Servicer or any of its Affiliates if such Eligible Investments otherwise qualify as Eligible Investments) bearing interest or sold at a discount; such direction to be signed by a Servicing Officer. If an Event of a Servicer Default shall have occurred and be continuing or if the Master Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Eligible Investments described in paragraph paragraphs (ivv) or (vi) of the definition of Permitted Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except Date; provided, that if such Permitted Investment is an obligation of with respect to any Account maintained by the Trustee, then such Permitted Investment investments that are obligations of the Trustee shall mature not later than such on the Distribution Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. No liquidation of amounts of investments in an Account will be required prior to maturity unless the proceeds are needed for disbursements. (c) The Trustee shall not be, and the Servicer shall be, in any way be held liable for the selection of Eligible Investments to be purchased or sold pursuant to this Section or by reason of any investment loss or other charge or any insufficiency in any Account held by or in the name of the Trustee resulting therefrom from any investment loss on any Eligible Investment included therein unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment included therein (charge except to the extent that the Trustee is the obligor and has defaulted thereon thereon. The Trustee shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or as provided in subsection (b) the failure of this Section 6.06)the Master Servicer to provide timely written investment direction. (d) The Trustee shall invest and reinvest funds in the Accounts held by or in the name of the Trustee, to the fullest extent practicable, in such manner as the Master Servicer shall from time to time direct as set forth in Section 5.04(a), but only in one or more Eligible Investments. (e) So long as no Event of Servicer Default shall have occurred and be continuing, all net income and gain realized from investment of, and all realized earnings on, funds deposited in any the Collection Account (excluding and the Certificate Insurance Payment Account) Account shall be for the benefit of the Master Servicer as servicing compensation (in addition to the Master Servicing Fee), and shall be subject to withdrawal on or before the fourth Business Day of the month following the month in which such income or gain is received. The In the case of investments in Eligible Investments made at the written direction of the Master Servicer shall deposit in the related Account the amount of any for which there is a loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon thereon, the Master Servicer shall deposit in the Collection Account or the Certificate Account, as applicable, the amount of such net loss immediately upon realization of such lossfrom the Master Servicer's own funds, without any right to reimbursement therefor from its own fundstherefor.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the Servicer, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Eligible Investments described in paragraph (ivvi) of the definition of Permitted Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that (i) if such Permitted Eligible Investment is an obligation of the Trustee, then such Permitted Eligible Investment shall mature not later than such Distribution DateDate and (ii) any other date as may be approved by the Rating Agencies and the Certificate Insurer). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the The Trustee shall not in any way be held liable for the selection of Eligible Investments or by reason of any investment loss or charge or any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein unless the Trustee's failure to perform in accordance with this Section is the cause of such loss or charge (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06Section). The Trustee shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or the failure of the Servicer to provide timely written investment direction. In the absence of written investment direction, the Trustee shall invest funds in the Accounts in the Eligible Investment described in clause (vi) of the definition thereof. (d) The Trustee shall invest and reinvest funds in the Accounts held by the Trustee, to the fullest extent practicable, in such manner as the Servicer shall from time to time direct as set forth in Section 5.05(a), but only in one or more Eligible Investments. (e) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any the Collection Account (excluding and the Certificate Insurance Payment Account) Distribution Account shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in the related Collection Account or the Distribution Account, as the case may be, the amount of any loss incurred in respect of any Permitted Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such lossloss from its own funds, without any right to reimbursement therefor from its own fundstherefore.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the Servicer, Master Servicer (with respect to the Certificate Accounts up to the Business Day prior to each Distribution Date) or the Trustee (with respect to the Certificate Accounts from the Business Day prior to each Distribution Date to such Distribution Date) or the Company (with respect to the Pre-Funding Accounts and the Interest Coverage Accounts) in one or more Permitted Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Master Servicer or the Company does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (ivd) of the definition of Permitted Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment Investments included therein (other than with respect to the investment of funds in the Certificate Accounts from the Business Day prior to each Distribution Date to such Distribution Date, and except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06)6.05. (d) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment AccountPre-Funding Accounts and the Interest Coverage Accounts) shall be for the benefit of the Master Servicer as servicing compensation (in addition to the Servicing Fee) and the benefit of the Trustee as compensation (in addition to the Trustee Fee). The Master Servicer and the Trustee shall deposit in each Account (excluding the related Pre-Funding Accounts and the Interest Coverage Accounts) and the Company shall deposit in each Pre-Funding Account and Interest Coverage Account, from its own funds, the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor therefor; provided, however, that the Master Servicer shall only be responsible for the reimbursement of losses in the Certificate Accounts up until the Business Day prior to each Distribution Date, and the Trustee shall only be responsible for the reimbursement of losses from its own fundsthe Business Day prior to each Distribution Date to such Distribution Date.

Investment of Accounts. (a) So long as no Event event described in Section 5.1(a) of Default the Sale and Servicing Agreement shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account Accounts (excluding investment earnings thereon) held by the Indenture Trustee shall be invested and reinvested by the Trustee, Indenture Trustee in the name of the Indenture Trustee for the benefit of the Noteholders and the Insurer as directed in writing by the Servicer, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If During the continuance of an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments event described in paragraph (ivSection 5.1(a) of the definition Sale and Servicing Agreement and following any removal of Permitted Investmentsthe Servicer, the Insurer may direct such investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Payment Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Indenture Trustee and sufficient uninvested funds are not available to make such disbursement, the Indenture Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (c) Subject to Section 9.01 hereof, the The Indenture Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Indenture Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to in its capacity as obligor on any such investment) but shall be liable for loss of investment earnings if the extent that funds held in the Trustee is the obligor and has defaulted thereon or as provided Accounts are not invested in subsection (b) of accordance with this Section 6.06)Indenture. (d) So long as no Event The Indenture Trustee shall hold funds in the Accounts held by the Indenture Trustee in Eligible Investments specified in clause (i) of Default Section 8.8 upon the occurrence of either of the following events: (i) the Servicer or the Insurer shall have occurred failed to give investment directions to the Indenture Trustee; or (ii) the Servicer or the Insurer shall have failed to give investment directions to the Indenture Trustee by 5:00 PM New York time (or such other time as may be agreed by the Servicer and be continuing, all net income and gain realized from the Indenture Trustee) on the Business Day prior to receipt of such funds. Any investment of, and all earnings on, on funds deposited held in any the Note Account (excluding the Certificate Insurance Payment Account) shall be for the benefit account of the Servicer as servicing compensation (except for investment earnings on funds held in addition the Note Account from the day prior to each Payment Date to such Payment Date which shall be for the account of the Indenture Trustee) and may only be withdrawn from the Note Account by the Indenture Trustee to be remitted to the Servicing Fee)Servicer or to itself, as applicable, on each respective Payment Date. Any references herein to amounts on deposit in the Note Account shall refer to amounts net of such investment earnings. The Servicer shall deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of investment losses immediately into the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own fundsNote Account as realized.

Investment of Accounts. (a) So long as no Event of Default Any institution maintaining the Collection Account shall have occurred and be continuing, and consistent with any requirements at the direction of the CodeMaster Servicer invest the funds in such account in Eligible Investments, all or a portion each of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the Servicer, in one or more Permitted Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investments. No such investment in any Account which shall mature not later than the Business Day immediately preceding the Remittance Date next Distribution Date following the date of such investment (except that if such Permitted Eligible Investment is an obligation of the Trusteeinstitution that maintains such account, then such Permitted Eligible Investment shall mature not later than such Distribution Remittance Date)) and shall not be sold or disposed of prior to its maturity. All income and gain realized from any such investment as well as any interest earned on deposits in the Collection Account shall be for the benefit of the Master Servicer. The Master Servicer shall deposit in the Collection Account (with respect to investments made hereunder of funds held therein) an amount equal to the amount of any loss incurred in respect of any such investment immediately upon realization of such loss without right of reimbursement. (b) Subject The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Distribution Account to Section 6.01(b), if any amounts are needed for disbursement from any invest the funds in the Distribution Account held by in Eligible Investments designated in the name of the Trustee for the benefit of the Owners, which shall mature not later than the Business Day next preceding the Distribution Date, next following the date of such investment (except that any investment in obligations of the institution with which the Distribution Account is maintained may mature on such Distribution Date) and sufficient uninvested funds are shall not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted disposed of prior to cash a sufficient maturity. All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the investments in such Account. The Trustee shall not be, and Distribution Account by the Master Servicer shall be, liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause out of such loss or chargeits own funds immediately as realized without right of reimbursement. (c) Subject to Section 9.01 10.1 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the bank serving as Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long The Trustee shall hold funds in the Accounts held by the Trustee uninvested upon the occurrence of either of the following events: (i) the Master Servicer or the Certificate Insurer, as no Event of Default the case may be, shall have occurred and failed to give investment directions to the Trustee within ten days after receipt of a written request for such directions from the Trustee; or (ii) the Master Servicer or the Certificate Insurer, as the case may be, shall have failed to give investment directions to the Trustee during the ten-day period described in clause (i) preceding, by 11:15 a.m. New York time (or such other time as may be continuingagreed by the Master Servicer or the Certificate Insurer, all net income and gain realized from investment ofas the case may be, and the Trustee) on any Business Day (any such investment by the Trustee pursuant to this clause (ii) to mature on the next Business Day after the date of such investment). (e) For purposes of investment, the Trustee shall aggregate all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer shall amounts on deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own fundsAccounts.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent Consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee for the benefit of the Owners shall be invested and reinvested by the TrusteeTrustee in the name of the Trust for the benefit of the Owners, as directed in writing by the ServicerSeller, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If The bank serving as Trustee or any affiliate thereof may be the obligor on any investment which otherwise qualifies as an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted InvestmentsEligible Investment. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Payment Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (c) Subject to Section 9.01 10.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the bank serving as Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long as no Event of Default The Trustee shall invest and reinvest funds in the Accounts held by the Trustee, in accordance with the written instructions delivered to the Trustee on the Startup Day, but only in one or more Eligible Investments bearing interest or sold at a discount. If the Seller shall have occurred and failed to give investment directions to the Trustee then the Trustee shall invest in money market funds described in Section 7.07(j) to be continuing, all net redeemable without penalty no later than the Business Day immediately preceding the next Payment Date. (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Trustee shall be for deposited in such Account immediately on receipt, and any loss resulting from such investments shall be charged to such Account, as appropriate, subject to the benefit requirement of Section 8.08(b) that the Servicer contribute funds in an amount equal to such loss in the case of the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer shall deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income Principal and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own fundsInterest Account.

Investment of Accounts. (a) So long as no Event of Default event described in Sections 8.20(a) or (b) hereof shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account Accounts held by the Trustee (except the Certificate Account) shall be invested and reinvested by the Trustee, for the benefit of the Owners and the Certificate Insurer, as their interests may appear, as directed in writing by the ServicerServicer on the Startup Day and from time to time thereafter, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If During the continuance of an Event event described in Sections 8.20(a) or (b) hereof and following any removal of Default shall have occurred and be continuing or if the Servicer does not provide investment directionsServicer, the Trustee Certificate Insurer shall invest all direct such investments in the Accounts in Permitted Investments described in paragraph (iv) of except the definition of Permitted InvestmentsCertificate Account). No such investment in any Account shall mature later than the second Business Day immediately preceding the next Distribution Payment Date (except that or, if such Permitted Investment investment is an obligation of the TrusteeTrustee or money market funds for which the Trustee or an affiliate is the manager or the advisor, then such Permitted Investment the investment shall mature not no later than such Distribution Payment Date). (b) Subject to Section 6.01(b)The Trustee, if for the benefit of the Owners and the Certificate Insurer, as their interests may appear shall invest and reinvest all or a portion of the Certificate Account, at its own discretion, but only in one or more Eligible Investments bearing interest or sold at a discount. (c) If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (cd) Subject to Section 9.01 10.1 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee (except the Certificate Account) resulting from any investment loss on any Permitted Eligible Investment included therein therein. (e) The Trustee shall hold funds in the Accounts held by the Trustee (except the Certificate Account) uninvested upon the occurrence of either of the following events: (i) the Servicer or the Certificate Insurer, as the case may be, shall have failed to give investment directions to the extent that Trustee within ten days after receipt of a written request for such directions from the Trustee; or (ii) the Servicer or the Certificate Insurer, as the case may be, shall have failed to give investment directions to the Trustee is with respect to any investment by the obligor and has defaulted thereon or as provided Trustee that shall mature during the ten-day period described in subsection clause (b) of this Section 6.06i). (df) So long as no Event For purposes of Default investment, the Trustee shall have occurred and be continuing, aggregate all net amounts on deposit in each Account (except the Certificate Account). All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding except the Certificate Insurance Payment Account) shall be deposited in such Account immediately on receipt, and any loss resulting from such investments shall be charged to the Seller, and upon request by the Trustee, the Seller shall reimburse the Trust for such losses. (g) All income or other gain from investments in the Certificate Account shall be deposited in the Certificate Account immediately on receipt, and any loss resulting from such investments shall be charged to the Trustee, which shall reimburse the Trust for such losses. (h) Each institution at which the Certificate Account is maintained shall invest the funds therein in Eligible Investments, which shall mature not later than the Business Day next preceding the related Payment Date (except that if such Eligible Investment is an obligation of the institution that maintains such account, then such Eligible Investment shall mature not later than such Payment Date) and, in each case, shall not be sold or disposed of prior to its maturity. All such Eligible Investments shall be made in the name of the Trustee, for the benefit of the Owners and the Certificate Insurer. All income and gain (net of any losses) realized from any such investment of funds on deposit in the Certificate Account shall be for the benefit of the Servicer Trustee as servicing compensation (in addition to the Servicing Fee)compensation. The Servicer shall deposit in the related Account the amount of any loss realized losses in the Certificate Account incurred in any such account in respect of any Permitted Investment held therein which is such investments shall promptly be deposited by the Trustee in excess the Certificate Account. (i) The Servicer shall give notice to the Trustee, the Seller, the Oversight Agent, the Trust, each Rating Agency, and the Certificate Insurer of any proposed change of the income location of the Certificate Account not later than 30 days and gain thereon immediately upon realization of such loss, without not more than 45 days prior to any right to reimbursement therefor from its own fundschange thereof.

Investment of Accounts. (a). (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the Servicer, in one or more Permitted Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (ivv) of the definition of Permitted Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Date). (b) Subject to Section 6.01(b), if any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06). (d) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer shall deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds.

Investment of Accounts. (a) So long as no Event of Default event described in Sections 8.20(a) or (b) hereof shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account Accounts held by the Trustee (except the Certificate Account) shall be invested and reinvested by the Trustee, for the benefit of the Owners and the Certificate Insurer, as their interests may appear, as directed in writing by the ServicerServicer on the Startup Day and from time to time thereafter, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If During the continuance of an Event event described in Sections 8.20(a) or (b) hereof and following any removal of Default shall have occurred and be continuing or if the Servicer does not provide investment directionsServicer, the Trustee Certificate Insurer shall invest all direct such investments in the Accounts in Permitted Investments described in paragraph (iv) of except the definition of Permitted InvestmentsCertificate Account). No such investment in any Account shall mature later than the second Business Day immediately preceding the next Distribution Payment Date (except that or, if such Permitted Investment investment is an obligation of the TrusteeTrustee or money market funds for which the Trustee or an affiliate is the manager or the advisor, then such Permitted Investment the investment shall mature not no later than such Distribution Payment Date). (b) Subject to Section 6.01(b), if [Reserved]. (c) If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (cd) Subject to Section 9.01 10.1 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee (except the Certificate Account) resulting from any investment loss on any Permitted Eligible Investment included therein therein. (e) The Trustee shall hold funds in the Accounts held by the Trustee (except the Certificate Account) uninvested upon the occurrence of either of the following events: (i) the Servicer or the Certificate Insurer, as the case may be, shall have failed to give investment directions to the extent that Trustee within ten days after receipt of a written request for such directions from the Trustee; or (ii) the Servicer or the Certificate Insurer, as the case may be, shall have failed to give investment directions to the Trustee is with respect to any investment by the obligor and has defaulted thereon or as provided Trustee that shall mature during the ten-day period described in subsection clause (b) of this Section 6.06i). (df) So long as no Event For purposes of Default investment, the Trustee shall have occurred and be continuing, aggregate all net amounts on deposit in each Account (except the Certificate Account). All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding except the Certificate Insurance Payment Account) shall be deposited in such Account immediately on receipt, and any loss resulting from such investments shall be charged to the Seller, and upon request by the Trustee, the Seller shall reimburse the Trust for such losses. (g) All income or other gain from investments in the Certificate Account shall be deposited in the Certificate Account immediately on receipt (subject to the right of the Trustee to withdraw such income or gain from time to time), and any loss resulting from such investments shall be charged to the Trustee, which shall reimburse the Trust for such losses. (h) Each institution at which the Certificate Account is maintained shall invest the funds therein in Eligible Investments, which shall mature not later than the Business Day next preceding the related Payment Date (except that if such Eligible Investment is an obligation of the institution that maintains such account, then such Eligible Investment shall mature not later than such Payment Date) and, in each case, shall not be sold or disposed of prior to its maturity. All such Eligible Investments shall be made in the name of the Trustee, for the benefit of the Owners and the Certificate Insurer. All income and gain (net of any losses) realized from any such investment of funds on deposit in the Certificate Account shall be for the benefit of the Servicer Trustee as servicing compensation (in addition to the Servicing Fee)compensation. The Servicer shall deposit in the related Account the amount of any loss realized losses in the Certificate Account incurred in any such account in respect of any Permitted Investment held therein which is such investments shall promptly be deposited by the Trustee in excess the Certificate Account. (i) The Servicer shall give notice to the Trustee, the Seller, the Oversight Agent, the Trust, each Rating Agency, and the Certificate Insurer of any proposed change of the income location of the Certificate Account not later than 30 days and gain thereon immediately upon realization of such loss, without not more than 45 days prior to any right to reimbursement therefor from its own fundschange thereof.

Investment of Accounts. (a) So long as no Event of Default event described in Sections 8.20(a) or (b) hereof shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account Accounts held by the Trustee shall be invested and reinvested by the TrusteeTrustee in the name of the Trustee for the benefit of the Owners and the Certificate Insurer, as directed in writing by the Master Servicer, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If During the continuance of an Event event described in Sections 8.20(a) or (b) hereof and following any removal of Default shall have occurred and be continuing or if the Servicer does not provide investment directionsMaster Servicer, the Trustee Certificate Insurer shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investmentsdirect such investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Payment Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (c) Subject to Section 9.01 10.1 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the bank serving as Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long The Trustee shall hold funds in the Accounts held by the Trustee uninvested upon the occurrence of either of the following events: (i) the Master Servicer or the Certificate Insurer, as no Event of Default the case may be, shall have occurred and failed to give investment directions to the Trustee within ten days after receipt of a written request for such directions from the Trustee; or (ii) the Master Servicer or the Certificate Insurer, as the case may be, shall have failed to give investment directions to the Trustee during the ten-day period described in clause (i) preceding, by 11:15 a.m. New York time (or such other time as may be continuingagreed by the Master Servicer or the Certificate Insurer, all net income and gain realized from investment ofas the case may be, and the Trustee) on any Business Day (any such investment by the Trustee pursuant to this clause (ii) to mature on the next Business Day after the date of such investment). (e) For purposes of investment, the Trustee shall aggregate all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer shall amounts on deposit in the related Account Accounts. All income or other gain from investments in the amount of Accounts shall be deposited, pro rata, in the Accounts immediately on receipt, and any loss incurred in respect of any Permitted Investment held therein which is in excess of resulting from such investments shall be charged, pro rata, to the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own fundsAccounts.

Investment of Accounts. (a) So long as no default or Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the Trustee, Trustee as directed in writing by the Servicer, in one or more Permitted Investments Instruments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investments. No such investment in any the Certificate Accounts shall mature later than the Business Day immediately preceding the next Remittance Date and no such investment in the Insurance Accounts, Expense Accounts, Pre-Funding Account, Capitalized Interest Account or Spread Account shall mature later than the Business Day immediately preceding the next Distribution date such funds will be needed to pay fees or premiums or be transferred to the applicable Certificate Account, as the case may be; PROVIDED, HOWEVER, the Trustee or any affiliate thereof may be the obligor on any investment which otherwise qualifies as a Permitted Instrument and any investment on which the Trustee is the obligor may mature on such Remittance Date (except that if such Permitted Investment is an obligation of or date when needed, as the Trustee, then such Permitted Investment shall mature not later than such Distribution Date)case may be. (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargetherefrom. (c) Subject to Section 9.01 12.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment Instrument included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long The Trustee shall invest and reinvest funds in the Accounts held by the Trustee to the fullest extent practicable, in such manner as no Event of Default the Servicer shall have occurred and be continuingfrom time to time direct in writing, all net but only in one or more Permitted Instruments. (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Trustee shall be for deposited in such Account, immediately on receipt, and the benefit of Trustee shall notify the Servicer as servicing compensation (in addition to the Servicing Fee)of any loss resulting from such investments. The Servicer shall deposit in the related Account remit the amount of any such loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds, without reimbursement therefor, to the Trustee for deposit in the Account from which the related funds were withdrawn for investment by the next Determination Date following receipt by the Servicer of such notice.

Investment of Accounts. (a) So long as no Event of Default event described in Sections 8.20(a) or (b) hereof shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account Accounts held by the Trustee shall be invested and reinvested by the TrusteeTrustee in the name of the Trustee for the benefit of the Owners and the Class A-6 Certificate Insurer, as their interests may appear, as directed in writing by the Master Servicer, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If During the continuance of an Event event described in Sections 8.20(a) or (b) hereof and following any removal of Default shall have occurred and be continuing or if the Servicer does not provide investment directionsMaster Servicer, the Trustee Control Party shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investmentsdirect such investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Payment Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (c) Subject to Section 9.01 10.1 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the bank serving as Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long as no Event The Trustee shall hold funds in the Accounts held by the Trustee uninvested upon the occurrence of Default either of the following events: (i) the Master Servicer shall have occurred and be continuing, all net income and gain realized from failed to give investment of, and all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation (in addition directions to the Servicing Fee). The Trustee within ten 88 102 days after receipt of a written request for such directions from the Trustee; or (ii) the Master Servicer shall have failed to give investment directions to the Trustee during the ten-day period described in clause (i) preceding, by 11:15 a.m. New York time (or such other time as may be agreed by the Master Servicer and the Trustee) on any Business Day (any such investment by the Trustee pursuant to this clause (ii) to mature on the next Business Day after the date of such investment). (e) For purposes of investment, the Trustee shall aggregate all amounts on deposit in the related Account Accounts. All income or other gain from investments in the amount of Accounts shall be deposited, pro rata, in the Accounts immediately on receipt, and any loss incurred in respect of any Permitted Investment held therein which is in excess of resulting from such investments shall be charged, pro rata, to the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own fundsAccounts.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account (other than the Certificate Insurance Payment Policy Payments Account, Middle-Tier Distribution Account and Upper-Tier Distribution Account) held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the Servicer, Servicer (with respect to the Lower-Tier Distribution Account) or the Company in one or more Permitted Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all such Accounts in Permitted Investments described in paragraph (ivd) of the definition of Permitted Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Date). (b) Subject to Section 6.01(b), if any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06). (dc) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer shall deposit in the related each Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds.

Investment of Accounts. (a) So long as no Event of Servicer Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee Account, shall be invested and reinvested by the Indenture Trustee, as directed in writing writing, or by telephone or facsimile transmission confirmed in writing, by the Servicer, in one or more Permitted Investments bearing interest or sold at a discountInstruments. If an Event of Default shall have occurred and be continuing or if In the event that the Servicer does not provide written directions for the investment directionsof any Account, the Indenture Trustee shall invest all Accounts funds therein in Permitted Investments described time deposit only accounts. Subject to the last paragraph of Section 5.04 above in paragraph (iv) the case of the definition of Permitted Investments. No Principal and Interest Accounts, no such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Payment Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Indenture Trustee and sufficient uninvested funds are not available to make such disbursement, the Indenture Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Indenture Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Indenture Trustee's failure to perform in accordance with this Section 6.06 6.05 is the cause of such loss or chargecharge or if the Indenture Trustee is the obligor and has defaulted thereon. (c) Subject to Section 9.01 hereof12.01, the Indenture Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Indenture Trustee resulting from any investment loss on any Permitted Investment Instrument included therein (except to the extent that the Indenture Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long The Indenture Trustee shall invest and reinvest funds in the Accounts held by the Indenture Trustee, to the fullest extent practicable, in such manner as no Event the Servicer or the holders of Default a majority in interest of the Notes, as applicable, shall have occurred and be continuingfrom time to time direct as set forth in Section 6.05(a) above, all net but only in one or more Permitted Instruments. (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Indenture Trustee shall be for deposited in such Account immediately on receipt, and the benefit Indenture Trustee shall notify the Servicer, or the Seller, or the holders of a majority in interest of the Servicer Notes as servicing compensation (in addition to the Servicing Fee)case may be, of any loss resulting from such investments. The Servicer shall deposit Upon receipt of such notification, the Servicer, in the related case of all Accounts other than the Interest Coverage Accounts and the Pre-Funding Accounts and the Seller, in the case of the Interest Coverage Accounts, the Reserve Account and the Pre-Funding Accounts, shall promptly remit the amount of any such loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such lossfrom their own funds, without any right reimbursement therefor, to reimbursement therefor the Indenture Trustee for deposit in the Account or Accounts from its own fundswhich the related funds were withdrawn for investment.

Investment of Accounts. (a) So long as no default or Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee Certificate Administrator, shall be invested and reinvested by the TrusteeCertificate Administrator, as directed in writing by the Servicer, in one or more Permitted Investments Instruments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directionsno such direction is received, the Trustee Certificate Administrator shall invest all Accounts the funds in any such Account in the Permitted Investments Instruments described in paragraph (ivf) of the definition of Permitted Investmentsthereof. No such investment in any the Certificate Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if and no such Permitted Investment is an obligation of investment in the Trustee, then such Permitted Investment Expense Account shall mature not later than the Business Day immediately preceding the date such funds will be needed to pay fees or premiums or be transferred to the Certificate Account, as the case may be; provided, however, the Certificate Administrator, or any affiliate thereof may be the obligor on any investment which otherwise qualifies as a Permitted Instrument and any investment on which the Certificate Administrator is the obligor may mature on such Distribution Date)Date or date when needed, as the case may be. (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee Certificate Administrator, and sufficient uninvested funds are not available to make such disbursement, the Trustee Certificate Administrator, shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee Certificate Administrator, shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargetherefrom. (c) Subject to Section 9.01 12.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee Trustee, resulting from any investment loss on any Permitted Investment Instrument included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long The Trustee shall invest and reinvest funds in the Accounts held by it to the fullest extent practicable, in such manner as no Event of Default the Servicer shall have occurred and be continuingfrom time to time direct in writing, all net but only in one or more Permitted Instruments. (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Trustee shall be for deposited in such Account, immediately on receipt, and the benefit of Trustee shall notify the Servicer as servicing compensation (in addition to the Servicing Fee)of any loss resulting from such investments. The Servicer shall deposit in the related Account remit the amount of any such loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds, without reimbursement therefor, to the Trustee for deposit in the Account from which the related funds were withdrawn for investment by the next Determination Date following receipt by the Servicer of such notice.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent Consistent with any requirements of the Code, with respect to the Collection Account or the Certificate Account, all or a portion of any either such Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the Trustee, Trustee as directed in writing by the Servicer, Servicer in one or more Permitted Eligible Investments bearing interest or sold at a discount. If The bank serving as Trustee or any affiliate thereof may be the obligor on any investment which otherwise qualifies as an Event of Default shall have occurred and be continuing or if the Eligible Investment. The Servicer does not provide investment directions, hereby directs the Trustee shall to invest all Accounts amounts as may from time to time be in Permitted Investments described the Certificate Account in paragraph (iv) The First National Bank of Chicago's Corporate Trust Short Term Investment Fund, so long as it is an Eligible Investment and for so long as such investment direction is not revoked in writing by the definition of Permitted InvestmentsServicer. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date Business Day on which the funds in such Account which are so invested are required under this Agreement to be remitted from such Account. The Trustee shall not be liable for interest or compensation on uninvested funds except as may be specifically agreed in writing. Amounts on deposit in the Pre-Funding Account, if any, and the Capitalized Interest Account, if any, shall only be invested in (except that if such Permitted Investment is an obligation i) Eligible Investments of the Trusteekind described in Section 7.07(a) hereof, then (ii) investments which have been rated (or as to which the obligor has been rated) in one of the three highest generic rating categories by any one of the Rating Agencies which are described herein and are permitted by the Rating Agency or (iii) such Permitted Investment shall mature not later than such Distribution Date)other investments as may be approved by the U.S. Department of Labor from time to time with respect to the investment of pre-funding and capitalized interest accounts. (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (c) Subject to Section 9.01 10.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the bank serving as Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So If the Servicer shall have failed to give investment directions to the Trustee with respect to the investment of amounts in any Account, then the Trustee shall invest (i) amounts in the Certificate Account in The First National Bank of Chicago's Corporate Trust Short Term Investment Fund, so long as it is an Eligible Investment, subject to the maturity requirement set forth in Section 7.05(a) above and (ii) amounts in the Collection Account in money market funds described in Section 7.07(h), which shall be redeemable without penalty no Event of Default shall have occurred and be continuing, all net later than the Business Day immediately preceding the next Determination Date. (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding the Certificate Insurance Payment Account) shall be deposited in such Account immediately on receipt, subject to withdrawal for the benefit account of the Servicer in accordance with Section 8.08(b), and any loss resulting from such investments shall be charged to such Account, as servicing compensation (in addition appropriate, subject to the Servicing Fee)requirement of Section 8.08(b) that the Servicer contribute funds in an amount equal to such loss. The Servicer shall deposit Income from investments in the related Certificate Account shall be payable by the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of Trustee to the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own fundsServicer as realized.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Indenture Trustee shall be invested and reinvested by the Indenture Trustee, as directed in writing by the ServicerServicer or Seller, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investmentsfollowing: Fund 541. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Payment Date (except that (i) if such Permitted Eligible Investment is an obligation of the Indenture Trustee, then such Permitted Eligible Investment shall mature not later than such Distribution Payment Date, and (ii) such Eligible Investments may mature on any other date as may be approved by the Rating Agencies and the Note Insurer). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Indenture Trustee and sufficient uninvested funds are not available to make such disbursement, the Indenture Trustee at the direction of the Servicer shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Indenture Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Indenture Trustee's failure to perform in accordance with this Section 6.06 3.10 is the cause of such loss or charge. (c) Subject to Section 9.01 6.01 hereof, the Indenture Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Indenture Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the Indenture Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.063.10). (d) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer shall deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds.

Investment of Accounts. (a) So long as no Event of Servicer Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account (other than the Certificate Insurance Payment REMIC II Distribution Account, the REMIC III Distribution Account and the REMIC IV Distribution Account) held by the Trustee shall be invested and reinvested by the TrusteeTrustee (or remain uninvested), as directed in writing by the ServicerServicer on its own behalf, in one or more Permitted Investments Instruments (or, in the case of the REMIC I Distribution Account, in such other instruments approved in writing by the Certificate Insurer (with written notice to Xxxxx'x)) bearing interest or sold at a discount. If an Event of a Servicer Default shall have occurred and be continuing or if the Servicer does not provide investment directionscontinuing, the Trustee shall invest all Accounts in Permitted Investments Instruments described in paragraph PARAGRAPH (ivIV) of the definition of Permitted InvestmentsInstruments. No At no time shall any such investment in any Account shall mature later than the Business Day immediately preceding the date on which such amounts are required by the terms hereof to be withdrawn from such Account, which (i) in the case of the REMIC I Distribution Account, shall be the next Distribution Date, (ii) in the case of the Principal and Interest Account, shall be the third business day preceding the next Distribution Date and (except that if such Permitted Investment is an obligation of iii) in all other cases, until the Trustee, then such Permitted Investment shall mature not later than such Distribution Date)day actually withdrawn pursuant to the terms hereof. (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 SECTION 6.04 is the cause of such loss or charge. (c) Subject to Section 9.01 SECTION 12.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment Instrument (or other instrument permitted by SECTION 6.04(A)) included therein herein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long The Trustee shall invest and reinvest funds in the Accounts held by it, to the fullest extent practicable, in such manner as no Event of Default the Servicer shall have occurred and be continuingfrom time to time direct as set forth in SECTION 6.04(A), all net but only in one or more Permitted Instruments (or other instrument permitted by SECTION 6.04(A)). (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Trustee, or from amounts on deposit in such Account and invested in Permitted Instruments, shall be for deposited in such Account, as the benefit of case may be, immediately on receipt, and the Trustee shall notify the Servicer as servicing compensation (in addition to of any loss resulting from such investments. Upon receipt of such notification, the Servicing Fee). The Servicer shall deposit in the related Account promptly remit the amount of any such loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds, without reimbursement therefor, to the Trustee for deposit in the Account from which the related funds were withdrawn for investment. (f) Any investment earnings on funds held in the Principal and Interest Account may be reinvested by the Servicer and the proceeds of such reinvestment are for the account of the Servicer.

Investment of Accounts. (a) So long as no Event of Default Servicing Termination shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Indenture Trustee shall may be invested and reinvested by the Indenture Trustee, as directed in writing by the ServicerServicer in the case of amounts on deposit in the Collection Account and as selected by the Indenture Trustee in the case of amounts on deposit in the Distribution Account, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If an Event of Default Servicing Termination shall have occurred and be continuing or if the Servicer does not provide investment directions, the Indenture Trustee shall invest all Accounts in Permitted Eligible Investments described in paragraph (ivvi) of the definition of Permitted Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Payment Date ([except that (i) if such Permitted Eligible Investment is (a) an investment described in item (vi) of Eligible Investments if such Eligible Investments are managed by the Indenture Trustee or (b) an obligation of the Indenture Trustee, then such Permitted Eligible Investment shall mature not later than such Distribution DatePayment Date and (ii)] or any other date prior to such Payment Date as may be approved by the Rating Agencies and the Insurer). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Indenture Trustee and sufficient uninvested funds are not available to make such disbursement, the Indenture Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the The Indenture Trustee shall not in any way be held liable for the selection of Eligible Investments by the Servicer or by reason of any investment loss or charge or any insufficiency in any the Collection Account held by the Indenture Trustee resulting from any investment loss on any Permitted Eligible Investment included therein unless the Indenture Trustee’s failure to perform in accordance with this Section is the cause of such loss or charge (except to the extent that the Indenture Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06Section). The Indenture Trustee shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment made with funds on deposit in the Collection Account prior to its stated maturity or the failure of the Servicer to provide timely written investment direction. In the absence of written investment direction, the Indenture Trustee shall invest funds in the Accounts in the Eligible Investment described in clause (vi) of the definition thereof. (d) So long The Indenture Trustee may invest and reinvest funds in the Accounts held by the Indenture Trustee, to the fullest extent practicable, in such manner as no Event the Servicer, in the case of Default the Collection Account or in such manner as the Indenture Trustee, in the case of the Distribution Account, shall have occurred and be continuingfrom time to time direct as set forth in Section 5.06(a), all but only in one or more Eligible Investments. Notwithstanding the foregoing, funds in the Distribution Account may remain uninvested for one Business Day at the Indenture Trustee’s discretion. (e) All net income and gain realized from investment of, and all earnings on, funds deposited in any the Collection Account (excluding through the Certificate Insurance Payment Account) second day preceding the day on which such funds are to be deposited in the Distribution Account shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee)) and all net income and gain realized from investment of, and all earnings on, funds deposited (i) in the Collection Account from the day preceding the day on which such funds are to be deposited in the Distribution Account and (ii) in the Distribution Account shall be for the benefit of the Indenture Trustee, and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in the related Collection Account and the Indenture Trustee shall deposit in the Distribution Account, as the case may be, the amount of any loss incurred in respect of any Permitted Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such lossloss from its own funds, without any right to reimbursement therefor from its own fundstherefore.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Trust Account (other than 100 the Certificate Insurance Payment Account held by the Trustee Payments Account) shall be invested and reinvested by the TrusteeServicer with respect to the Collection Accounts, as directed in writing the Pre-Funding Accounts and the Capitalized Interest Accounts and by the Servicer, Trustee with respect to the Certificate Accounts in one or more Permitted Investments bearing interest or sold purchased at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Trust Accounts (other than the Certificate Insurance Payments Account) in Permitted Investments described in paragraph (ivd) of the definition of Permitted Investments. No such investment in any Trust Account (other than the Collection Accounts) shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Date and the investments in the Collection Accounts shall mature no later than the Business Day prior to Determination Date. No Permitted Investment shall be said or disposed of at again prior to maturity unless the Servicer has obtained and delivered to the Trustee and the Certificate Insurer an Opinion Counsel (at the Servicer's expense) that such sale or disposition will not cause the REMIC I and REMIC II to be subject to tax on income from prohibited transactions imposed by Code Section 860F(a)(1), otherwise subject the REMIC I and REMIC II to tax or cause the Trust to fail to qualify as a REMIC. (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Trust Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Trust Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 6.7 is the cause of such loss or charge. (c) Subject to Section 9.01 6.7 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Trust Account held by the Trustee resulting from any investment loss on any Permitted Investment Investments included therein (other than with respect to the investment of funds in the Certificate Accounts from the Business Day prior to each Distribution Date to such Distribution Date, and except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06)6.7. (d) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any Trust Account (excluding the Certificate Insurance Payment AccountPre-Funding Accounts and the Capitalized Interest Accounts) shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee) and the benefit of the Trustee as compensation (in addition to the Trustee Fee). The Servicer and the Trustee shall deposit in the related Account each Account, the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor therefor; provided, however, that the Servicer shall only be responsible for the reimbursement of losses in the Certificate Accounts up until the Business Day prior to each Distribution Date, and the Trustee shall only be responsible for the reimbursement of losses from its own fundsthe Business Day prior to each Distribution Date to such Distribution Date.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all All or a portion of any each Account (other than the Certificate Insurance Insured Payment Account held by and the Trustee Certificate Distribution Account) shall be invested and reinvested by the TrusteeIndenture Trustee in the name of the Indenture Trustee for the benefit of the related Noteholders and Certificateholders, as directed in writing (i) by the ServicerDepositor, with respect to the Payment Account, or (ii) by the Servicer with respect to the Reserve Account, the Funding Account and the Capitalized Interest Account, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If an Event of Default Amounts in the Insured Payment Accounts shall have occurred not be invested. [Amounts in the Certificate Distribution Account shall be invested and be continuing or if reinvested by the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investments[Owner Trustee]]. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Payment Date (except and every investment shall be held until maturity; provided that if such Permitted Investment is an obligation Eligible Investments which are obligations of the Trustee, then such Permitted Investment shall Indenture Trustee may mature not later than such Distribution on the next Payment Date). (b) Subject to Section 6.01(b), if any amounts are needed for disbursement from any Account held by ___ of the Trustee and sufficient uninvested funds are not available to make such disbursementIndenture, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the Indenture Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Indenture Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the bank serving as Indenture Trustee is the obligor and has defaulted thereon thereon). (c) If the Servicer or the Depositor, as provided the case may be, shall have failed to give investment directions to the Indenture Trustee, then the Indenture Trustee shall invest the funds in subsection (b) of this Section 6.06)the related Account in commercial paper that qualifies as an Eligible Investment. (d) So long as no Event of Default shall have occurred and be continuing, all net All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Indenture Trustee shall be for the benefit of the Servicer as servicing compensation (deposited in addition to the Servicing Fee). The Servicer shall deposit in the related such Account the amount of immediately on receipt, and any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of resulting from such loss, without any right investments shall be charged to reimbursement therefor from its own fundssuch Account.

Investment of Accounts. (a) So long as no Event of Default event described in Sections 8.20(a) or (b) hereof shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account Accounts held by the Trustee shall be invested and reinvested by the TrusteeTrustee in the name of the Trustee for the benefit of the Owners and the Certificate Insurer, as their interests may appear, as directed in writing by the Master Servicer, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If During the continuance of an Event event described in Sections 8.20(a) or (b) hereof and following any removal of Default shall have occurred and be continuing or if the Servicer does not provide investment directionsMaster Servicer, the Trustee Certificate Insurer shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investmentsdirect such investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Payment Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (c) Subject to Section 9.01 10.1 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the bank serving as Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long The Trustee shall hold funds in the Accounts held by the Trustee uninvested upon the occurrence of either of the following events: (i) the Master Servicer or the Certificate Insurer, as no Event of Default the case may be, shall have occurred and failed to give investment directions to the Trustee within ten days after receipt of a written request for such directions from the Trustee; or (ii) the Master Servicer or the Certificate Insurer, as the case may be, shall have failed to give investment directions to the Trustee during the ten-day period described in clause (i) preceding, by 11:15 a.m. New York time (or such other time as may be continuingagreed by the Master Servicer or the Certificate Insurer, all net income and gain realized from investment ofas the case may be, and the Trustee) on any Business Day (any such investment by the Trustee pursuant to this clause (ii) to mature on the next Business Day after the date of such investment). (e) For purposes of investment, the Trustee shall aggregate all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer shall amounts on deposit in the related Account Accounts. All income or other gain from investments in the amount of Accounts shall be deposited, pro rata, in the Accounts immediately on receipt, and any loss incurred in respect of any Permitted Investment held therein which is in excess of resulting from such investments shall be charged, pro rata, to the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own fundsAccounts.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account (other than the Certificate Insurance Payment Account Account) held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the Servicer, in one or more Permitted Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (ivv) of the definition of Permitted Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Date). (b) Subject to Section 6.01(b), if any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06). (d) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any Account (excluding other than the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer shall deposit 91 in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds.

Investment of Accounts. (a) So long as no Event of Default event described in Sections 8.20(a) or (b) hereof shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account the Accounts (other than the Certificate Insurance Payment Account Principal and Interest Account) held by the Trustee shall be invested and reinvested by the TrusteeTrustee in the name of the Trustee for the benefit of the Owners and the Certificate Insurer, as their interests may appear, as directed in writing by the Master Servicer, in one or more Permitted Eligible Investments bearing interest or sold at a discount, other than the Capitalized Interest Account which funds shall be invested and reinvested by the Trustee on behalf of the Master Servicer. If The Master Servicer may invest funds held in the Principal and Interest Account in one or more Eligible Investments. During the continuance of an Event event described in Sections 8.20(a) or (b) hereof and following any removal of Default shall have occurred and be continuing or if the Servicer does not provide investment directionsMaster Servicer, the Trustee Control Party shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investmentsdirect such investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Payment Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee or the Master Servicer, as the case may be, and sufficient uninvested funds are not available to make such disbursement, the Trustee or the Master Servicer, as the case may be, shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (c) Subject to Section 9.01 10.1 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except and only to the extent that the bank serving as Trustee is the obligor thereon and has defaulted thereon or as provided in subsection (b) of this Section 6.06is otherwise liable). (d) So long The Trustee shall hold funds in the Accounts held by the Trustee uninvested upon the occurrence of either of the following events: (i) the Master Servicer or the Control Party, as no Event of Default the case may be, shall have occurred and be continuing, all net income and gain realized from failed to give investment of, and all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation (in addition directions to the Servicing FeeTrustee within ten days after receipt of a written request for such directions from the Trustee; or (ii) the Master Servicer or the Control Party, as the case may be, shall have failed to give investment directions to the Trustee during the ten-day period described in clause (d)(i) preceding, by 11:15 a.m. New York time (or such other time as may be agreed by the Master Servicer and the Trustee) on any Business Day (any such investment by the Trustee pursuant to this clause (d)(ii) to mature on the next Business Day after the date of such investment). The Servicer . (e) For purposes of investment, the Trustee shall aggregate all amounts on deposit in the related Account Accounts. All income or other gain from investments in the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds.Accounts shall be

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee (except the Distribution Account) shall be invested and reinvested by the Trustee, as directed in writing by the Servicer, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Eligible Investments described in paragraph (ivvi) of the definition of Permitted Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that (i) if such Permitted Eligible Investment is an obligation of the TrusteeTrustee or a money market fund for which the Trustee or any Affiliate is the manager or the advisor, then such Permitted Eligible Investment shall mature not later than such Distribution DateDate and (ii) any other date may be approved by the Rating Agencies and the Certificate Insurer). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 5.05 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof9.01, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.065.05). (d) The Trustee shall invest and reinvest funds in the Accounts held by the Trustee (except the Distribution Account), to the fullest extent practicable, in such manner as the Servicer shall from time to time direct as set forth in Section 5.05(a), but only in one or more Eligible Investments. (e) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any the Collection Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in the related Collection Account or the Initial Interest Coverage Account, as the case may be, the amount of any loss incurred in respect of any Permitted Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor therefore from its own funds.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of Monies held in any Account other than the Certificate Insurance Payment Account created by and held by the Trustee under this Depositary Agreement shall be invested and reinvested by the Trustee, as directed in writing by the Servicer, in one or more Permitted Investments bearing interest or sold at the written direction (which may be in the form of a discount. If standing instruction) of a Responsible Officer of the Issuer; provided, however, that at any time when (a) a Responsible Officer of the Collateral Agent has received written notice that an Event of Default under the Indenture shall have occurred and be continuing or if (b) a Responsible Officer of the Servicer does Issuer has not provide investment directionstimely furnished such a written direction or, after a request by the Collateral Agent, has not so confirmed a standing instruction to the Collateral Agent, the Trustee Collateral Agent shall invest all Accounts such monies only in Permitted Investments described in paragraph clause (ivviii) of the such definition of Permitted Investmentsa maturity of thirty days or less. No such investment in any Account Such investments shall mature later than in such amounts and have maturity dates or be subject to redemption at the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation option of the Trustee, then such Permitted Investment shall mature not later than such Distribution Date). (b) Subject holder thereof on or prior to Section 6.01(b), if any amounts are maturity as needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make purposes of such disbursementAccounts, but in no event shall such investments mature more than one year after the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Accountdate acquired. The Trustee Collateral Agent shall not be, at any time and from time to time liquidate any or all of such investments prior to their maturity as needed in order to effect the Servicer shall be, liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform transfers and withdrawals contemplated by this Depositary Agreement in accordance with a certificate of a Responsible Officer of the Issuer; provided that, in the absence of timely receipt of such certificate, the Collateral Agent shall liquidate any or all such investments as so needed in such manner as will minimize, to the extent reasonably practicable, the costs, penalties and losses associated with such liquidation. Any income or gain realized from such investments shall be deposited into the Revenue Account. Any loss shall be charged to the applicable Account. Except as otherwise provided in this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof3.12, the Trustee ---- Collateral Agent shall not have no obligation to invest and reinvest any cash held in any way be held liable the Accounts in the absence of timely and specific written investment direction from the required party. Other than by reason of any insufficiency its willful misconduct or gross negligence, the Collateral Agent shall not be liable for the selection of investments or for investment losses incurred thereon. Other than by reason of its willful misconduct or negligence, the Collateral Agent shall have no liability in any Account held by respect of losses incurred as a result of the Trustee resulting from liquidation of any investment loss prior to its stated maturity or the failure of the required party to provide timely written investment direction. For purposes of any income tax payable on account of any Permitted Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon income or as provided in subsection (b) of this Section 6.06). (d) So long as no Event of Default shall have occurred and be continuinggain on an investment, all net such income and or gain realized from investment of, and all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment Account) shall be for the benefit account of the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer shall deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own fundsIssuer.

Investment of Accounts. (a) So long as no Event of Default Servicing Termination shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any the Collection Account other than the Certificate Insurance Payment Account held by the Trustee shall may be invested and reinvested by the Servicer pursuant to Section 3.02(c) of this Agreement and all or a portion of the Distribution Account may be invested and reinvested by the Indenture Trustee, as directed in writing by the Servicer, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If an Event of Default Servicing Termination shall have occurred and be continuing or if the Servicer does not provide investment directions, the Indenture Trustee shall invest all Accounts in Permitted Eligible Investments described in paragraph (ivvi) of the definition of Permitted Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Payment Date (except that (i) if such Permitted Eligible Investment is (a) an investment described in item (vi) of Eligible Investments if such Eligible Investments are held by the Indenture Trustee or (b) an obligation of the Indenture Trustee, then such Permitted Eligible Investment shall mature not later than such Distribution DatePayment Date and (ii) or any other date prior to such Payment Date as may be approved by the Rating Agencies and the Insurer). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Indenture Trustee and sufficient uninvested funds are not available to make such disbursement, the Indenture Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the The Indenture Trustee shall not in any way be held liable for the selection of Eligible Investments by the Servicer or by reason of any investment loss or charge or any insufficiency in any the Collection Account held by the Indenture Trustee resulting from any investment loss on any Permitted Eligible Investment included therein unless the Indenture Trustee’s failure to perform in accordance with this Section is the cause of such loss or charge (except to the extent that the Indenture Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06Section). The Indenture Trustee shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment made with funds on deposit in the Collection Account prior to its stated maturity or the failure of the Servicer to provide timely written investment direction. In the absence of written investment direction, the Indenture Trustee shall invest funds in the Accounts in the Eligible Investment described in clause (vi) of the definition thereof. (d) So long The Indenture Trustee may invest and reinvest funds in the Accounts held by the Indenture Trustee, to the fullest extent practicable, in such manner as no Event of Default the Servicer shall have occurred and be continuingfrom time to time direct as set forth in Section 5.06(a), all but only in one or more Eligible Investments. Notwithstanding the foregoing, funds in the Distribution Account may remain uninvested for one Business Day. (e) All net income and gain realized from investment of, and all earnings on, funds deposited in any the Collection Account (excluding through the Certificate Insurance Payment Account) second day preceding the day on which such funds are to be deposited in the Distribution Account shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee)) and all net income and gain realized from investment of, and all earnings on, funds deposited (i) in the Collection Account from the day preceding the day on which such funds are to be deposited in the Distribution Account and (ii) in the Distribution Account shall be for the benefit of the Indenture Trustee, and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in the related Collection Account [and the Indenture Trustee shall deposit in the Distribution Account, as the case may be], the amount of any loss incurred in respect of any Permitted Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such lossloss from its own funds, without any right to reimbursement therefor from its own fundstherefore.

Investment of Accounts. (a) So long as no default or Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the Trustee, Trustee as directed in writing by the Servicer, in one or more Permitted Investments Instruments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investments. No such investment in any the Certificate Accounts shall mature later than the Business Day immediately preceding the next Remittance Date and no such investment in the Insurance Accounts, Expense Accounts, Pre- Funding Account, Capitalized Interest Account, FHA Premium Account or Spread Account shall mature later than the Business Day immediately preceding the next Distribution date such funds will be needed to pay fees or premiums or be transferred to the applicable Certificate Account, as the case may be; provided, however, the Trustee or any affiliate thereof may be the obligor on any investment which otherwise qualifies as a Permitted Instrument and any investment on which the Trustee is the obligor may mature on such Remittance Date (except that if such Permitted Investment is an obligation of or date when needed, as the Trustee, then such Permitted Investment shall mature not later than such Distribution Date)case may be. (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargetherefrom. (c) Subject to Section 9.01 12.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment Instrument included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long The Trustee shall invest and reinvest funds in the Accounts held by the Trustee to the fullest extent practicable, in such manner as no Event of Default the Servicer shall have occurred and be continuingfrom time to time direct in writing, all net but only in one or more Permitted Instruments. (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Trustee shall be for deposited in such Account, immediately on receipt, and the benefit of Trustee shall notify the Servicer as servicing compensation (in addition to the Servicing Fee)of any loss resulting from such investments. The Servicer shall deposit in the related Account remit the amount of any such loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds, without reimbursement therefor, to the Trustee for deposit in the Account from which the related funds were withdrawn for investment by the next Determination Date following receipt by the Servicer of such notice.

Investment of Accounts. (a) So long as no Event event described in Section 5.01(a) or (b) of Default the Sale and Servicing Agreement shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account Accounts (excluding investment earning thereon) held by the Indenture Trustee shall be invested and 41 48 reinvested by the TrusteeIndenture Trustee in the name of the Indenture Trustee for the benefit of the Noteholders and the Note Insurer, as directed in writing by the Master Servicer, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If During the continuance of an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments event described in paragraph Section 5.01(a) or (ivb) of the definition Sale and Servicing Agreement and following any removal of Permitted Investmentsthe Master Servicer, the Note Insurer may direct such investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Payment Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Indenture Trustee and sufficient uninvested funds are not available to make such disbursement, the Indenture Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (c) Subject to Section 9.01 hereof, the The Indenture Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Indenture Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to in its capacity as obligor on any such investment) but shall be liable for loss of investment earnings if the extent that funds held in the Trustee is the obligor and has defaulted thereon or as provided Accounts are not invested in subsection (b) of accordance with this Section 6.06)Indenture. (d) So long as no Event The Indenture Trustee shall hold funds in the Accounts held by the Indenture Trustee in Eligible Investments specified in Section 8.08(i) upon the occurrence of Default either of the following events: (i) the Master Servicer or the Note Insurer shall have occurred failed to give investment directions to the Indenture Trustee; or (ii) the Master Servicer or the Note Insurer shall have failed to give investment directions to the Indenture Trustee by 5:00 p.m. California time (or such other time as may be agreed by the Master Servicer and be continuing, all net income the Indenture Trustee) on the Business Day prior to receipt of such funds. Any investment earnings on funds held in the Note Account and gain realized from investment of, and all earnings on, funds deposited in any the Capitalized Interest Account (excluding the Certificate Insurance Payment Account) shall be for the benefit account of the Master Servicer as servicing compensation (in addition and may only be withdrawn from the Note Account by the Indenture Trustee to be remitted to the Servicing Fee)Master Servicer on each respective Payment Date. Any references herein to amounts on deposit in the Note Account and the Capitalized Interest Account shall refer to amounts net of such investment earnings. The Master Servicer shall deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of investment losses immediately into the income Note Account and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own fundsthe Capitalized Interest Account as realized.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account (other than the Certificate Insurance Payment Account Account) held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the Servicer, in one or more Permitted Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (ivv) of the definition of Permitted Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Date). (b) Subject to Section 6.01(b), if any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06). (d) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any Account (excluding other than the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer shall deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account (other than the Certificate Insurance Payment Account Reserve Account) held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the Servicer, in one or more Permitted Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (ivd) of the definition of Permitted Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Remittance Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Remittance Date). Notwithstanding anything to the contrary in this Section 6.6(a), all amounts received under the Certificate Insurance Policies shall remain uninvested. (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account (other than the Reserve Account) held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 6.6 is the cause of such loss or chargecharge or the Trustee is the obligor of the related investment. (c) Subject to Section 9.01 9.1 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.066.6).. 113 (d) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment Reserve Account) shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer shall deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds.

Investment of Accounts. (a) So long as no Event default or Servicer of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Indenture Trustee shall be invested and reinvested by the Trustee, Indenture Trustee as directed in writing by the Servicer, in one or more Permitted Investments Instruments bearing interest or sold at a discount. If an Event So long as the Spread Account is maintained at FUNB, amounts on such Account may be invested, at the option of Default shall have occurred and be continuing or if the Servicer does not provide investment directionsFUNB, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of Instruments or other investments not satisfying the definition of Permitted InvestmentsInstruments. No such investment in any the Note Distribution Accounts shall mature later than the Business Day immediately preceding the next Remittance Date and no such investment in the Insurance Accounts, Expense Accounts, Rounding Account or Spread Account shall mature later than the Business Day immediately preceding the next date such funds will be needed to pay fees or premiums or be transferred to the applicable Note Distribution Account, as the case may be; PROVIDED, HOWEVER, the Indenture Trustee or any affiliate thereof may be the obligor on any investment which otherwise qualifies as a Permitted Instrument and any investment on which the Indenture Trustee is the obligor may mature on such Remittance Date (except that if such Permitted Investment is an obligation of or date when needed, as the Trustee, then such Permitted Investment shall mature not later than such Distribution Date)case may be. (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Indenture Trustee and sufficient uninvested funds are not available to make such disbursement, the Indenture Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Indenture Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargetherefrom. (c) Subject to Section 9.01 12.01 hereof, the Indenture Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee Indenture Trustees resulting from any investment loss on any Permitted Investment Instrument included therein (except to the extent that the Indenture Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long The Indenture Trustee shall invest and reinvest funds in the Accounts held by them to the fullest extent practicable, in such manner as no Event of Default the Servicer shall have occurred and be continuingfrom time to time direct in writing, all net but only in one or more Permitted Instruments. (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Indenture Trustee shall be for deposited in such Account, immediately on receipt, and the benefit of Indenture Trustee shall notify the Servicer as servicing compensation (in addition to the Servicing Fee)of any loss resulting from such investments. The Servicer shall remit the amount of any such loss from its own funds, without reimbursement therefor, to the Indenture Trustee for deposit in the Account from which the related funds were withdrawn for investment by the next Determination Date following receipt by the Servicer of such notice. So long as the Spread Account is maintained at FUNB, FUNB shall remit to the Spread Account, from its own funds, the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of resulting from investments, without reimbursement therefor, by the income and gain thereon immediately upon realization of next Determination Date following such loss, without any right to reimbursement therefor from its own funds.

Investment of Accounts. (a) So long Amounts deposited in the Accounts under this Agreement shall, at the Company’s written request and direction, be invested by the Depositary Agent in Permitted Investments, in each case as no Event of Default specifically directed by the Company that will mature in such amounts and not later than such times as may be necessary to provide monies when needed to make payments from such monies as provided in this Agreement. Except as otherwise provided herein (including pursuant to Section 3.1(b)(ii)), net interest or gain received, if any, from such investments shall be deposited into the Revenue Account. Any loss shall be charged to the applicable Account. The Depositary Agent shall have occurred and be continuingno responsibility or liability for any loss which may result from any investment made pursuant to this Agreement, and consistent with or for any requirements loss resulting from the sale of such investment. (b) Absent written instructions from the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the Servicer, in one or more Permitted Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directionsCompany, the Trustee Depositary Agent shall invest all the amounts held in the Accounts under this Agreement in Permitted Investments described in paragraph clause (ivb) of such definition. In the definition event that at any time amounts are funded into an Account after 11:00 am New York City time on any Business Day, the Depositary Agent shall have no obligation to invest or reinvest such amounts on the date on which such amounts are funded. Instructions with respect to the investment of Permitted Investments. No such investment in any amounts received into an Account after 11:00 am New York City time shall mature later than be deemed to apply for the following Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Date)Day. (bc) Subject If and when cash is required for the making of any transfer, disbursement or withdrawal in accordance with this Agreement (it being understood that cash shall not be required for any transfer between Accounts unless Permitted Investments do not exist in the Account from which monies are being transferred in appropriate amounts in order to Section 6.01(bpermit such transfer), if any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee Company shall cause Permitted Investments to be sold or otherwise converted liquidated into cash (without regard to cash a sufficient amount of maturity) as and to the investments extent necessary in order to make such Accounttransfers, disbursements or withdrawals required pursuant to this Agreement. The Depositary Agent shall comply with any instruction from the Company with respect to the liquidation of such Permitted Investments. In the event any such investments are so redeemed prior to the maturity thereof, neither the Depositary Agent nor the Collateral Trustee shall not be, and the Servicer shall be, be liable for any investment loss loss, penalties, fees or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06)expenses relating thereto. (d) So long as no Event For purposes of Default shall have occurred and be continuingdetermining responsibility for any income tax payable on account of any income or gain on any Permitted Investment hereunder, all net such income and or gain realized from investment of, and all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment Account) shall be for the benefit account of the Servicer as servicing compensation (in addition to the Servicing Fee)Company. The Servicer Company shall deposit in provide the related Account Depositary Agent with certified tax identification numbers by furnishing appropriate forms W-9 or W-8 and such other forms and documents that the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own fundsDepositary Agent may request.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent Consistent with any requirements of the Code, all or a portion of any Account (other than the Certificate Insurance Payment Account Reserve Account) held by the Indenture Trustee for the benefit of the Owners shall be invested and reinvested by the TrusteeIndenture Trustee in trust for the benefit of the Owners and the Note Insurer, as directed in writing by the ServicerSeller, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If The bank serving as Indenture Trustee or any affiliate thereof may be the obligor on any investment which otherwise qualifies as an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted InvestmentsEligible Investment. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Payment Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account (other than the Reserve Account) held by the Indenture Trustee and sufficient uninvested funds are not available to make such disbursement, the Indenture Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (c) Subject to Section 9.01 hereofthe terms of the Indenture, the Indenture Trustee shall not in any way be held liable by reason of any insufficiency in any Account (other than the Reserve Account) held by the Indenture Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the bank serving as Indenture Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long as no Event of Default The Indenture Trustee shall invest and reinvest funds in the Accounts (other than the Reserve Account) held by the Indenture Trustee, in accordance with the written instructions delivered to the Indenture Trustee on the Closing Date, but only in one or more Eligible Investments bearing interest or sold at a discount. If the Seller shall have occurred and failed to give investment directions to the Indenture Trustee then the Indenture Trustee shall invest in money market funds described in Section 3.07(j) to be continuing, all net redeemable without penalty no later than the Business Day immediately preceding the next Payment Date. (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding other than the Certificate Insurance Payment Reserve Account) held by the Indenture Trustee shall be for deposited in such Account (other than the benefit Reserve Account) immediately on receipt, and any loss resulting from such investments shall be charged to such Account (other than the Reserve Account), as appropriate, subject to the requirement of Section 4.08(b) that the Servicer contribute funds in an amount equal to such loss in the case of the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer shall deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income Principal and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own fundsInterest Account.

Investment of Accounts. (a) So long as no Event of Default event described in Sections 8.20(a) or (b) hereof shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account Accounts held by the Trustee (except the Certificate Account) shall be invested and reinvested by the Trustee, for the benefit of the Owners and the Certificate Insurer, as their interests may appear, as directed in writing by the ServicerServicer on the Startup Day and from time to time thereafter, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If During the continuance of an Event event described in Sections 8.20(a) or (b) hereof and following any removal of Default shall have occurred and be continuing or if the Servicer does not provide investment directionsServicer, the Trustee Certificate Insurer shall invest all direct such investments in the Accounts in Permitted Investments described in paragraph (iv) of except the definition of Permitted InvestmentsCertificate Account). No such investment in any Account shall mature later than the second Business Day immediately preceding the next Distribution Payment Date (except that or, if such Permitted Investment 203968.5d investment is an obligation of the TrusteeTrustee or money market funds for which the Trustee or an affiliate is the manager or the advisor, then such Permitted Investment the investment shall mature not no later than such Distribution Payment Date). (b) Subject to Section 6.01(b), if [Reserved]. (c) If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (cd) Subject to Section 9.01 10.1 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee (except the Certificate Account) resulting from any investment loss on any Permitted Eligible Investment included therein therein. (e) The Trustee shall hold funds in the Accounts held by the Trustee (except the Certificate Account) uninvested upon the occurrence of either of the following events: (i) the Servicer or the Certificate Insurer, as the case may be, shall have failed to give investment directions to the extent that Trustee within ten days after receipt of a written request for such directions from the Trustee; or (ii) the Servicer or the Certificate Insurer, as the case may be, shall have failed to give investment directions to the Trustee is with respect to any investment by the obligor and has defaulted thereon or as provided Trustee that shall mature during the ten-day period described in subsection clause (b) of this Section 6.06i). (df) So long as no Event For purposes of Default investment, the Trustee shall have occurred and be continuing, aggregate all net amounts on deposit in each Account (except the Certificate Account). All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding except the Certificate Insurance Payment Account) shall be deposited in such Account immediately on receipt, and any loss resulting from such investments shall be charged to the Seller, and upon request by the Trustee, the Seller shall reimburse the Trust for such losses. (g) All income or other gain from investments in the Certificate Account shall be deposited in the Certificate Account immediately on receipt (subject to the right of the Trustee to withdraw such income or gain from time to time), and any loss resulting from such investments shall be charged to the Trustee, which shall reimburse the Trust for such losses. (h) Each institution at which the Certificate Account is maintained shall invest the funds therein in Eligible Investments, which shall mature not later than the Business Day next preceding the related Payment Date (except that if such Eligible Investment is an obligation of the institution that maintains such account, then such Eligible Investment shall mature not later than such Payment Date) and, in each case, shall not be sold or disposed of prior to its maturity. All such Eligible Investments shall be made in the name of the Trustee, for the benefit of the Owners and the Certificate Insurer. All income and gain (net of any losses) realized from any such investment of funds on deposit in the Certificate Account shall be for the benefit of the Servicer Trustee as servicing compensation (in addition to the Servicing Fee)compensation. The Servicer shall deposit in the related Account the amount of any loss realized losses in the Certificate Account incurred in any such account in respect of any Permitted Investment held therein which is such investments shall promptly be deposited by the Trustee in excess the Certificate Account. (i) The Servicer shall give notice to the Trustee, the Seller, the Oversight Agent, the Trust, each Rating Agency, and the Certificate Insurer of any proposed change of the income location of the Certificate Account not later than 30 days and gain thereon immediately upon realization of such loss, without not more than 45 days prior to any right to reimbursement therefor from its own funds.change thereof. 203968.5d

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account (other than the Certificate Insurance Payment Account Reserve Account) held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the Servicer, in one or more Permitted Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (ivd) of the definition of Permitted Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Remittance Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Remittance Date). Notwithstanding anything to the contrary in this Section 6.6(a), all amounts received under the Certificate Insurance Policy shall remain uninvested. (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account (other than the Reserve Account) held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 6.6 is the cause of such loss or chargecharge or the Trustee is the obligor of the related investment. (c) Subject to Section 9.01 9.1 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.066.6). (d) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment Reserve Account) shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer shall deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account (other than the Certificate Insurance Payment Account Account) held by the Trustee or the Reserve Account Trustee, shall be invested and reinvested by the Trustee or the Reserve Account Trustee, as the case may be, as directed in writing by the ServicerServicer (or with respect to a Certificate Account, as directed by the Trustee), solely in one or more Permitted Investments Investments, in the name of the Trustee or the Reserve Account Trustee, as the case may be, for the benefit of the related Certificateholders and the Certificate Insurer, bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts (other than the Insurance Account) in Permitted Investments described in paragraph (ivd) of the definition of Permitted Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date for the related Trust (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Date). (b) Subject to Section 6.01(b6.1(b), if any amounts are needed for disbursement from any Account held by the Trustee or the Reserve Account Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee or the Reserve Account Trustee, as the case may be, shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee and the Reserve Account Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom unless the Trustee's or the Reserve Account Trustee's, as the case may be, failure to perform in accordance with this Section 6.06 6.6 is the cause of such loss or charge. (c) Subject to Section 9.01 9.1 hereof, the Trustee and the Reserve Account Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee or the Reserve Account Trustee, as the case may be, resulting from any investment loss on any Permitted Investment included therein (except to the extent that the Trustee or the Reserve Account Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.066.6). (d) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any each Collection Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation (in addition to the related Servicing FeeFees). The Servicer shall deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds.

Investment of Accounts. (a) So long as no Event of Default event described in Sections 8.18(a) hereof shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account Accounts held by the Trustee shall be invested and reinvested by the TrusteeTrustee in the name of the Trustee for the benefit of the Owners, as directed in writing by the Servicer, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the cash. No investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (c) Subject to Section 9.01 10.1 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the bank serving as Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long as no Event The Trustee shall hold funds in the Accounts held by the Trustee uninvested upon the occurrence of Default either of the following events: (i) the Servicer shall have occurred and failed to give investment directions to the Trustee. (e) For purposes of investment, the Trustee may, but shall not be continuingrequired to, aggregate all net amounts on deposit in the Accounts. All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding the Certificate Insurance Payment Account) Accounts shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee)Servicer. The Servicer shall remain liable for any losses and shall deposit in the related Account the amount of any loss incurred losses as provided in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such lossSection 8.9(b)(v), without any right of reimbursement therefor. The Trustee shall, no later than the fifth (5th) Business Day of the month following each Distribution Date, remit to reimbursement therefor from its own fundsthe Servicer the net investment income earned with respect to the Accounts.

Investment of Accounts. (a) So long as no Event of Default event described in Sections 8.20(a) or (b) hereof shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account Accounts held by the Trustee shall be invested and reinvested by the TrusteeTrustee in the name of the Trustee for the benefit of the Owners, as their interests may appear, as directed in writing by the Master Servicer, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If During the continuance of an Event event described in Sections 8.20(a) or (b) hereof and following any removal of Default shall have occurred and be continuing or if the Servicer does not provide investment directionsMaster Servicer, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investmentsdirect such investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Payment Date). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom No investments will be liquidated prior to maturity unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargeproceeds thereof are needed for disbursement. (c) Subject to Section 9.01 10.1 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the bank serving as Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long as no Event The Trustee shall hold funds in the Accounts held by the Trustee uninvested upon the occurrence of Default either of the following events: (i) the Master Servicer shall have occurred and be continuing, all net income and gain realized from failed to give investment of, and all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation (in addition directions to the Servicing Fee). The Trustee within ten days after receipt of a written request for such directions from the Trustee; or (ii) the Master Servicer shall have failed to give investment directions to the Trustee during the ten-day period described in clause (i) preceding, by 11:15 a.m. New York time (or such other time as may be agreed by the Master Servicer and the Trustee) on any Business Day (any such investment by the Trustee pursuant to this clause (ii) to mature on the next Business Day after the date of such investment). (e) For purposes of investment, the Trustee shall aggregate all amounts on deposit in the related Account Accounts. All income or other gain from investments in the amount of Accounts shall be deposited, pro rata, in the Accounts immediately on receipt, and any loss incurred in respect of any Permitted Investment held therein which is in excess of resulting from such investments shall be charged, pro rata, to the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own fundsAccounts.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent Consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee Securities Administrator shall be invested and reinvested by the TrusteeSecurities Administrator, as directed in writing by the ServicerServicer (in the case of the Collection Account), but only for the period from the date of deposit of funds therein to the Deposit Date after which time frame the Securities Administrator may direct any investments in the Distribution Account, or the Servicer (with respect to the Collection Account) or the Seller (in the case of any other Account) (the applicable Person, the “Directing Party”), in one or more Permitted Eligible Investments bearing interest or sold at a discount. If the applicable Directing Party does not provide investment directions, or if the Directing Party is the Servicer and an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directionscontinuing, the Trustee Securities Administrator shall invest all Accounts in Permitted Eligible Investments described in paragraph (ivvi) of the definition of Permitted Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that for any such Account other than the Distribution Account (i) if such Permitted Eligible Investment is an obligation of the TrusteeSecurities Administrator or a money market fund for which the Securities Administrator or any Affiliate is the manager or the advisor, then such Permitted Eligible Investment shall mature not later than such Distribution DateDate and (ii) any other date may be approved by the Rating Agencies). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee Securities Administrator and sufficient uninvested funds are not available to make such disbursement, the Trustee Securities Administrator shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee Securities Administrator shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's Securities Administrator’s failure to perform in accordance with this Section 6.06 5.05 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof9.01, the Trustee Securities Administrator shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee Securities Administrator resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the Trustee Securities Administrator is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.065.05). (d) The Securities Administrator shall invest and reinvest funds in the Accounts held by the Securities Administrator, to the fullest extent practicable, in such manner as the applicable Directing Party shall from time to time direct as set forth in Section 5.05(a), but only in one or more Eligible Investments. (e) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any the Collection Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation Servicing Compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in the related Account Collection Account, the amount of any loss incurred in respect of any Permitted Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor therefore from its own funds. (f) All net income and gain realized from investment of, and all earnings on, funds deposited in the Collection Account shall be for the benefit of the Servicer for the period from the date of deposit to the Deposit Date, as Servicing Compensation in addition to the Servicing Fee. All net income and gain realized from investment of, and all earnings on, funds deposited in the Distribution Account shall be for the benefit of the Securities Administrator for the period from the Deposit Date to the Distribution Date, as compensation. Any such income shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Securities Administrator, as applicable, shall deposit in the Distribution Account from its own funds the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon payable to Securities Administrator immediately upon the realization of such loss, without any right to reimbursement therefor.

Investment of Accounts. (a) So long as no Event of Default Servicing Termination shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Indenture Trustee shall may be invested and reinvested by the Indenture Trustee, as directed in writing by the ServicerServicer in the case of amounts on deposit in the Collection Account and as selected by the Indenture Trustee in the case of amounts on deposit in the Distribution Account, in one or more Permitted Eligible Investments bearing interest or sold at a discount. If an Event of Default Servicing Termination shall have occurred and be continuing or if the Servicer does not provide investment directions, the Indenture Trustee shall invest all Accounts in Permitted Eligible Investments described in paragraph (ivvi) of the definition of Permitted Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Payment Date (except that (i) if such Permitted Eligible Investment is (a) an investment described in item (vi) of Eligible Investments if such Eligible Investments are managed by the Indenture Trustee or (b) an obligation of the Indenture Trustee, then such Permitted Eligible Investment shall mature not later than such Distribution DatePayment Date and (ii) or any other date prior to such Payment Date as may be approved by the Rating Agencies and the Insurer). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Indenture Trustee and sufficient uninvested funds are not available to make such disbursement, the Indenture Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the The Indenture Trustee shall not in any way be held liable for the selection of Eligible Investments by the Servicer or by reason of any investment loss or charge or any insufficiency in any the Collection Account held by the Indenture Trustee resulting from any investment loss on any Permitted Eligible Investment included therein unless the Indenture Trustee’s failure to perform in accordance with this Section is the cause of such loss or charge (except to the extent that the Indenture Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06Section). The Indenture Trustee shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment made with funds on deposit in the Collection Account prior to its stated maturity or the failure of the Servicer to provide timely written investment direction. In the absence of written investment direction, the Indenture Trustee shall invest funds in the Accounts in the Eligible Investment described in clause (vi) of the definition thereof. (d) So long The Indenture Trustee may invest and reinvest funds in the Accounts held by the Indenture Trustee, to the fullest extent practicable, in such manner as no Event the Servicer, in the case of Default the Collection Account or in such manner as the Indenture Trustee, in the case of the Distribution Account, shall have occurred and be continuingfrom time to time direct as set forth in Section 5.06(a), all but only in one or more Eligible Investments. Notwithstanding the foregoing, funds in the Distribution Account may remain uninvested for one Business Day at the Indenture Trustee’s discretion. (e) All net income and gain realized from investment of, and all earnings on, funds deposited in any the Collection Account (excluding through the Certificate Insurance Payment Account) second day preceding the day on which such funds are to be deposited in the Distribution Account shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee)) and all net income and gain realized from investment of, and all earnings on, funds deposited (i) in the Collection Account from the day preceding the day on which such funds are to be deposited in the Distribution Account and (ii) in the Distribution Account shall be for the benefit of the Indenture Trustee, and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in the related Collection Account and the Indenture Trustee shall deposit in the Distribution Account, as the case may be, the amount of any loss incurred in respect of any Permitted Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such lossloss from its own funds, without any right to reimbursement therefor from its own fundstherefore.

Investment of Accounts. (a) So long as no Event of Default shall have occurred and be continuing, and consistent Consistent with any requirements of the Code, all or a portion of any Account (other than the Certificate Insurance Payment Account Distribution Account) held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the ServicerServicer with respect to the Collection Account and the Master Servicer with respect to the Custodial Account (the applicable Person, the "Directing Party"), in one or more Permitted Eligible Investments bearing interest or sold at a discount. If an the applicable Directing Party does not provide investment directions, or if the Directing Party is the Master Servicer and a Master Servicer Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Eligible Investments described in paragraph (ivvi) of the definition of Permitted Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that for any such Account other than the Distribution Account (i) if such Permitted Eligible Investment is an obligation of the TrusteeTrustee or a money market fund for which the Trustee or any Affiliate is the manager or the advisor, then such Permitted Eligible Investment shall mature not later than such Distribution DateDate and (ii) any other date may be approved by the Rating Agencies). (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 5.05 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof9.01, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Eligible Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.065.05). (d) The Trustee shall invest and reinvest funds in the Accounts held by the Trustee, to the fullest extent practicable, in such manner as the applicable Directing Party shall from time to time direct as set forth in Section 5.05(a), but only in one or more Eligible Investments. (e) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, (i) funds deposited in any the Collection Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation Servicing Compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received and (ii) funds deposited in the Custodial Account shall be for the benefit of the Master Servicer as Master Servicing Compensation (in addition to the Master Servicing Fee). The Servicer shall deposit in the related Collection Account and the Master Servicer shall deposit in the Custodial Account, the amount of any loss incurred in respect of any Permitted Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor therefore from its own funds. (f) All net income and gain realized from investment of, and all earnings on, funds deposited in the Distribution Account shall be for the benefit of the Trustee, as compensation (in addition to the Trustee Fee). Any such income shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Trustee shall deposit in the Distribution Account the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon payable to the Trustee immediately upon the realization of such loss, without any right to reimbursement therefore from its own funds.

Investment of Accounts. (a) So long as no default or Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the Trustee, Trustee as directed in writing by the Servicer, in one or more Permitted Investments Instruments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investments. No such investment in any the Certificate Accounts shall mature later than the Business Day immediately preceding the next Remittance Date and no such investment in the Insurance Accounts, Expense Accounts, Pre- Funding Account, Capitalized Interest Account, FHA Premium Account or Spread Account shall mature later than the Business Day immediately preceding the next Distribution date such funds will be needed to pay fees or premiums or be transferred to the applicable Certificate Account, as the case may be; PROVIDED, HOWEVER, the Trustee or any affiliate thereof may be the obligor on any investment which otherwise qualifies as a Permitted Instrument and any investment on which the Trustee is the obligor may mature on such Remittance Date (except that if such Permitted Investment is an obligation of or date when needed, as the Trustee, then such Permitted Investment shall mature not later than such Distribution Date)case may be. (b) Subject to Section 6.01(b), if If any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, be liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or chargethere from. (c) Subject to Section 9.01 12.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment Instrument included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06thereon). (d) So long The Trustee shall invest and reinvest funds in the Accounts held by the Trustee to the fullest extent practicable, in such manner as no Event of Default the Servicer shall have occurred and be continuingfrom time to time direct in writing, all net but only in one or more Permitted Instruments. (e) All income and or other gain realized from investment of, and all earnings on, funds deposited investments in any Account (excluding held by the Certificate Insurance Payment Account) Trustee shall be for deposited in such Account, immediately on receipt, and the benefit of Trustee shall notify the Servicer as servicing compensation (in addition to the Servicing Fee)of any loss resulting from such investments. The Servicer shall deposit in the related Account remit the amount of any such loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds, without reimbursement therefor, to the Trustee for deposit in the Account from which the related funds were withdrawn for investment by the next Determination Date following receipt by the Servicer of such notice.