Common use of Investment of Cash Collateral Clause in Contracts

Investment of Cash Collateral. (a) Each Lender shall have the right, pursuant to the SLA, to invest cash Collateral received in respect of any loan, subject to an obligation, upon the termination of the loan, to return to the borrower the amount of cash initially pledged (as adjusted for any subsequent marks-to-market). Each Lender shall direct GSAL and/or Custodian, from time to time, as to the manner and means by which such cash Collateral is to be invested and the types of permissible investments. Until contrary instructions are furnished to GSAL by Lender, GSAL is authorized and directed to cause all cash collateral to be invested in the following investments (“Permissible Investments”) (i) Capital Class Shares of JPMorgan Prime Money Market Fund;; or (ii) such investments as permitted by Schedule 5 hereto. Each Lender hereby authorizes GSAL to purchase or redeem any amounts that are held, in the applicable Lender’s collateral account to satisfy the Lender’s obligations arising to a borrower or GSAL under this Agreement.