Common use of Investment of Funds in the Collection Account and the Distribution Account Clause in Contracts

Investment of Funds in the Collection Account and the Distribution Account. (a) The Master Servicer may direct any depository institution maintaining the Collection Account and the Distribution Account (each, for purposes of this Section 3.12, an "Investment Account") to invest the funds (other than the Initial Deposit) in such Investment Account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator is the obligor thereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator is the obligor thereon. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator (in its capacity as such), as agent for the Trustee, or in the name of a nominee of the Trust Administrator. The Trust Administrator shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and the Distribution Account and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator shall:

Investment of Funds in the Collection Account and the Distribution Account. (a) The Master Servicer may direct any depository institution maintaining the Collection Account and the Distribution Account (each, for purposes of this Section 3.12, an "Investment Account") to invest the funds (other than the Initial Deposit) in such Investment Account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator Trustee is the obligor thereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator Trustee is the obligor thereon. Amounts in the Distribution Account may be held uninvested. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator (in its capacity as such), as agent Trustee for the Trustee, or in the name of a nominee benefit of the Trust AdministratorCertificateholders. The Trust Administrator Trustee shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and the Distribution Account and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator Trustee or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator party with investment discretion over such Investment Account shall:

Investment of Funds in the Collection Account and the Distribution Account. (a) The Master Servicer may direct any depository institution maintaining the Collection Account and the Distribution Account (each, for purposes of this Section 3.12, an "Investment Account") to invest the funds (other than the Initial Deposit) in such Investment Account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator Trustee is the obligor thereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator Trustee is the obligor thereon. Amounts in the Distribution Account may be held uninvested. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator (in its capacity as such), as agent Trustee for the Trustee, or in the name of a nominee benefit of the Trust AdministratorCertificateholders. The Trust Administrator Trustee shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and the Distribution Account and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator Trustee or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator party with investment discretion over such Investment Account shall:

Investment of Funds in the Collection Account and the Distribution Account. (a) The Master Servicer may direct in writing any depository institution maintaining the Collection Account and the Securities Administrator may direct in writing any depository institution maintaining the Distribution Account (each, for purposes of this Section 3.123.25, each an "Investment Account") ), to invest the funds (other than the Initial Deposit) in such Investment Account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator Trustee is the obligor thereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator Trustee is the obligor thereon. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Securities Administrator or the Servicer, as applicable (in its capacity as such), as agent for the Trustee, ) or in the name of a nominee of the Trust Administratorsame. The Trust Servicer or the Securities Administrator shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and the Distribution Account and any income and gain realized thereonAccount) over each such investmentinvestment and the income thereon, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Securities Administrator or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Securities Administrator or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator shallTrustee shall at the direction of the Servicer or the Securities Administrator:

Investment of Funds in the Collection Account and the Distribution Account. (a) The Master Servicer may direct any depository institution maintaining the Collection Account and the Distribution Account (each, for purposes of this Section 3.12, an "Investment Account") to invest the funds (other than the Initial Deposit) in such Investment Account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator Trustee is the obligor thereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator Trustee is the obligor thereon. Amounts in the Distribution Account shall be held uninvested. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator (in its capacity as such), as agent Trustee for the Trustee, or in the name of a nominee benefit of the Trust AdministratorCertificateholders. The Trust Administrator Trustee shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and the Distribution Account and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator Trustee or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator party with investment discretion over such Investment Account shall:

Investment of Funds in the Collection Account and the Distribution Account. (a) The Master Servicer may direct any depository institution maintaining the Collection Account and the Distribution Account (each, for purposes of this Section 3.12, an "“Investment Account"”) to invest the funds (other than the Initial Deposit) in such Investment Account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator Trustee is the obligor thereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator Trustee is the obligor thereon. Amounts in the Distribution Account shall be held uninvested. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator (in its capacity as such), as agent Trustee for the Trustee, or in the name of a nominee benefit of the Trust AdministratorCertificateholders. The Trust Administrator Trustee shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and the Distribution Account and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator Trustee or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator party with investment discretion over such Investment Account shall:

Investment of Funds in the Collection Account and the Distribution Account. (a) The Master Servicer may direct any depository institution maintaining invest the funds in the Collection Account and the Trust Administrator may invest funds in the Distribution Account (each, for purposes of this Section 3.12, each such Account is referred to as an "“Investment Account") to invest the funds (other than the Initial Deposit) in such Investment Account ”), in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this AgreementAgreement (or, if a Person other than in the case of investments not managed or advised by the Trust Administrator is or an affiliate thereof, the obligor thereon, and (ii) no later than the date on which Business Day prior to such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator is the obligor thereondate). All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator (in its capacity as such), as agent for the Trustee, or in the name of a nominee of the Trust Administrator. The Trust Administrator shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and the Distribution Account and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator or its nomineeAdministrator. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator shallmay:

Investment of Funds in the Collection Account and the Distribution Account. (a) The Master Servicer may direct any depository institution maintaining invest the funds in the Collection Account and the Trustee may invest funds in the Distribution Account during the Trustee Float Period, and shall (eachexcept during the Trustee Float Period), invest such funds in the Distribution Account at the direction of the Depositor (for purposes of this Section 3.12, each of the Collection Account and the Distribution Accounts are referred to as an "“Investment Account") to invest the funds (other than the Initial Deposit) in such Investment Account ”), in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this AgreementAgreement (except for investments made at the Depositor’s direction, if a Person other than the Trust Administrator is the obligor thereon, and (ii) which shall mature no later than the Business Day immediately preceding the date on which such funds are of required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator is the obligor thereonwithdrawal). All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator (in its capacity as such), as agent for the Trustee, or in the name of a nominee of the Trust Administrator. The Trust Administrator Trustee shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and the Distribution Account and any income and gain realized thereonthereon in any Account other than the Distribution Account during the Trustee Float Period) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator or its nomineeTrustee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator shallTrustee may:

Investment of Funds in the Collection Account and the Distribution Account. (a) The Master Servicer may direct any depository institution maintaining the Collection Account and any REO Account to invest the funds on deposit in such accounts and the Trustee may invest the funds on deposit in the Distribution Account or to hold such funds uninvested (eacheach such account, for the purposes of this Section 3.12, an "Investment Account") ). All investments pursuant to invest the funds (other than the Initial Deposit) in such Investment Account this Section 3.12 shall be in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator Trustee is the obligor thereonthereon or if such investment is managed or advised by a Person other than the Trustee or an Affiliate of the Trustee, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator Trustee is the obligor thereonthereon or if such investment is managed or advised by the Trustee or any Affiliate. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator Trustee (in its capacity as such), as agent for the Trustee, or in the name of a nominee of the Trust AdministratorTrustee. The Trust Administrator Trustee shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and the Distribution Account any REO Account, and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator Trustee or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator Trustee shall:

Investment of Funds in the Collection Account and the Distribution Account. (a) The Master Servicer may direct any depository institution maintaining the Collection Account and the Distribution Account (each, for purposes of this Section 3.12, an "Investment Account") to invest the funds (other than the Initial Deposit) in such Investment Account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator Trustee is the obligor thereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator Trustee is the obligor thereon. Amounts in the Distribution Account may be held uninvested. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator (in its capacity as such), as agent Trustee for the Trustee, or in the name of a nominee benefit of the Trust AdministratorCertificateholders and the Certificate Insurer. The Trust Administrator Trustee shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and the Distribution Account and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator Trustee or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator party with investment discretion over such Investment Account shall:

Investment of Funds in the Collection Account and the Distribution Account. (a) The Master Servicer may direct any depository institution maintaining the Collection Account and the Distribution Account (each, for purposes of this Section 3.12, an "Investment Account") to invest the funds (other than the Initial Deposit) in such Investment Account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator Trustee is the obligor thereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator Trustee is the obligor thereon. Amounts in the Distribution Account may be held uninvested. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator (in its capacity as such), as agent Trustee for the Trustee, or in the name of a nominee benefit of the Trust AdministratorCertificateholders and the Certificate Insurer. The Trust Administrator Trustee shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and the Distribution Account and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator Trustee or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator party with investment discretion over such Investment Account shall:

Investment of Funds in the Collection Account and the Distribution Account. (a) The Master Servicer may direct any depository institution maintaining the Collection Account and the Master Servicer may direct any depository institution maintaining the Distribution Account (each, for purposes of this Section 3.123.27, each an "Investment Account") ), to invest the funds (other than the Initial Deposit) in such Investment Account in one or more Permitted Eligible Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Securities Administrator is the obligor thereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Securities Administrator is the obligor thereonthereon or if such investment is managed or advised by the Securities Administrator or an Affiliate of the Securities Administrator. All such Permitted Eligible Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator (in its capacity as such)Trustee, as agent for the Trustee, or in the name of a nominee benefit of the Trust Administrator. The Trust Administrator shall be entitled to sole possession Certificateholders. (except with respect to b) All income and gain realized from the investment direction of funds held in the Collection Account and shall be for the Distribution benefit of the Servicer. The Servicer shall deposit in the Collection Account and or (to the extent funds in the Escrow Account are invested if permitted by applicable law) the Escrow Account, as applicable, from its own funds the amount of any loss incurred in respect of any such Eligible Investment made with funds in such account immediately upon realization of such loss. All income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such from the investment of funds in the Distribution Account shall be delivered directly to for the Trust Administrator or its agent, together with any document benefit of transfer necessary to transfer title to such investment to the Trust Administrator or its nomineeMaster Servicer. In the event amounts on The Master Servicer shall deposit in an Investment the Distribution Account are at from its own funds the amount of any time invested loss incurred on Eligible Investments in the Distribution Account. (c) Except as otherwise expressly provided in this Agreement, if any default occurs in the making of a Permitted Investment payable on demandpayment due under any Eligible Investment, or if a default occurs in any other performance required under any Eligible Investment, the Trust Securities Administrator shall:may and, subject to Section 8.01 and Section 8.02(a)(v), upon the request of the NIMS Insurer or Holders of Certificates representing more than 50% of the Voting Rights allocated to any Class of Certificates, shall take such action as may be appropriate to enforce such payment or performance, including the institution and prosecution of appropriate proceedings.

Investment of Funds in the Collection Account and the Distribution Account. (a) The Master Servicer may direct any depository institution maintaining invest the funds in the Collection Account and the Trustee may invest funds in the Distribution Account during the Trustee Float Period, and shall (eachexcept during the Trustee Float Period), invest such funds in the Distribution Account at the direction of the Depositor (for purposes of this Section 3.12, each of the Collection Account and the Distribution Accounts are referred to as an "Investment Account") to invest the funds (other than the Initial Deposit) in such Investment Account ), in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this AgreementAgreement (except for investments made at the Depositor's direction, if a Person other than the Trust Administrator is the obligor thereon, and (ii) which shall mature no later than the Business Day immediately preceding the date on which such funds are of required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator is the obligor thereonwithdrawal). All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator (in its capacity as such), as agent for the Trustee, or in the name of a nominee of the Trust Administrator. The Trust Administrator Trustee shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and the Distribution related Account and any income and gain realized thereonthereon in any Account other than the Distribution Account during the Trustee Float Period) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator or its nomineeTrustee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator shallTrustee may:

Investment of Funds in the Collection Account and the Distribution Account. (a) The Master Servicer may direct any depository institution maintaining the Collection Account and the Trustee may direct any depository institution maintaining the Distribution Account (each, for purposes of this Section 3.123.25, an "Investment Account") ), to invest the funds (other than the Initial Deposit) in such Investment Account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator Trustee is the obligor thereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator Trustee is the obligor thereon. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator Trustee (in its capacity as such), as agent for the Trustee, ) or in the name of a nominee of the Trust AdministratorTrustee. The Trust Administrator Trustee shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and the Distribution Account and any income and gain realized thereonAccount) over each such investmentinvestment and (except as otherwise provided herein) the income thereon, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator Trustee or its nominee. In the event amounts on deposit in an Investment the Distribution Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator Trustee shall:

Investment of Funds in the Collection Account and the Distribution Account. (a) The Master Servicer may direct any depository institution maintaining the Collection Account and the Distribution Account (each, for purposes of this Section 3.12, an "Investment Account") to invest the funds (other than the Initial Deposit) in such Investment Account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator Trustee is the obligor thereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator Trustee is the obligor thereon. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator Trustee (in its capacity as such), as agent for the Trustee, ) or in the name of a nominee of the Trust AdministratorTrustee. The Trust Administrator Trustee shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and the Distribution Account and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator Trustee or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator Trustee shall:

Investment of Funds in the Collection Account and the Distribution Account. (a) The Master Servicer may direct any depository institution maintaining the Collection Account and the Trustee may direct any depository institution maintaining the Distribution Account (each, for purposes of this Section 3.123.25, each, an "“Investment Account") ”), to invest the funds (other than the Initial Deposit) in such Investment Account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator Trustee is the obligor thereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator Trustee is the obligor thereon. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator Trustee or the Servicer, as applicable (in its capacity as such), as agent for the Trustee, ) or in the name of a nominee of the Trust AdministratorTrustee. The Trust Administrator Trustee shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and the Distribution Account and any income and gain realized thereonAccount) over each such investmentinvestment and the income thereon, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator Trustee or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator shallTrustee shall at the direction of the Servicer:

Investment of Funds in the Collection Account and the Distribution Account. (a) The Servicer may invest the funds in the Collection Account and the Master Servicer may direct any depository institution maintaining invest funds in the Distribution Account during the Securities Administrator Float Period, and shall (except during the Securities Administrator Float Period), invest such funds in the Distribution Account at the direction of the Depositor (for purposes of this Section 3.12, each of the Collection Account and the Distribution Account (each, for purposes of this Section 3.12, are referred to as an "Investment Account") to invest the funds (other than the Initial Deposit) in such Investment Account ), in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this AgreementAgreement (except for investments made at the Depositor's direction, if a Person other than the Trust Administrator is the obligor thereon, and (ii) which shall mature no later than the Business Day immediately preceding the date on which such funds are of required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator is the obligor thereonwithdrawal). All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator (in its capacity as such)Servicer or the Master Servicer, as agent for the Trustee, or in the name of a nominee of the Trust Administratorapplicable. The Trust Administrator Servicer or the Master Servicer, as applicable, shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and the Distribution related Account and any income and gain realized thereonthereon in any Account other than the Distribution Account during the Securities Administrator Float Period) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator Servicer, the Master Servicer or its their respective agent, as applicable, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator Servicer, the Master Servicer or its nomineetheir respective agent, as applicable. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator shallServicer or the Master Servicer, as applicable, may:

Investment of Funds in the Collection Account and the Distribution Account. (a) The Master Servicer may direct any depository institution maintaining the Collection Account, the Distribution Account and the Distribution Account Reserve Fund (each, for purposes of this Section 3.12, an "Investment Account") to invest the funds (other than the Initial Deposit) in such Investment Account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trust Administrator Trustee is the obligor thereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trust Administrator Trustee is the obligor thereon. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trust Administrator (in its capacity as such), as agent Trustee for the Trustee, or in the name of a nominee benefit of the Trust AdministratorCertificateholders. The Trust Administrator Trustee shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account, the Distribution Account and the Distribution Account Reserve Fund and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trust Administrator Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trust Administrator Trustee or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trust Administrator Trustee shall: