Common use of Investment of Funds in the Collection Account, the Servicing Accounts, the Reserve Accounts Clause in Contracts

Investment of Funds in the Collection Account, the Servicing Accounts, the Reserve Accounts. the Defeasance Deposit Account, the Custodial Accounts, the REO Accounts, the Interest Reserve Account and the Excess Liquidation Proceeds Account. (i) The Master Servicer may direct in writing any depository institution maintaining a Servicing Account, a Reserve Account, the Defeasance Deposit Account or a Custodial Account (any of the foregoing accounts listed in this clause (i), a "Master Servicer Account"), (ii) the Special Servicer may direct in writing any depository institution maintaining an REO Account, and (iii) the Trustee may direct (pursuant to a standing order or otherwise) any depository institution maintaining the Collection Account, the Interest Reserve Account or the Excess Liquidation Proceeds Account (any of the foregoing accounts listed in this clause (iii), a "Trustee Account"; and any of the Master Servicer Accounts, the REO Accounts and Trustee Accounts, an "Investment Account"), to invest, or if it is such depository institution, may itself invest, the funds held therein (other than, in the case of the Pool Custodial Account and the Collection Account, the Initial Deposits) in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (x) no later than the Business Day immediately preceding the next succeeding date on which such funds are required to be withdrawn from such account pursuant to this Agreement or (y) if and to the extent that the depository institution maintaining such Investment Account is the obligor on such investment, no later than the time and date as of which such funds are required to be withdrawn from such account pursuant to this Agreement (but in any event prior to distributions on the Certificates or any transfers to another Investment Account being made on or before the related Distribution Date); provided that in the case of any Servicing Account, any Reserve Account or the Defeasance Deposit Account, such investment direction shall be subject to the related loan documents and applicable law.

Investment of Funds in the Collection Account, the Servicing Accounts, the Reserve Accounts. the Defeasance Deposit Account, the Custodial Accounts, the REO Accounts, the Interest Reserve Account and the Excess Liquidation Proceeds Account. (i) The Master Servicer may direct in writing any depository institution maintaining a Servicing Account, a Reserve Account, the Defeasance Deposit Account or a Custodial Account (any of the foregoing accounts listed in this clause (i), a "Master Servicer Account"), (ii) the Special Servicer may direct in writing any depository institution maintaining an REO Account, and (iii) the Trustee may direct (pursuant to a standing order or otherwise) any depository institution maintaining the Collection Account, the Interest Reserve Account or the Excess Liquidation Proceeds Account (any of the foregoing accounts listed in this clause (iii), a "Trustee Account"; and any of the Master Servicer Accounts, the REO Accounts and Trustee Accounts, an "Investment Account"), to invest, or if it is such depository institution, may itself invest, the funds held therein (other than, in the case of the Pool Custodial Account, the Interest Reserve Account and the Collection Account, the Initial DepositsDeposits and the Supplemental Interest Reserve Amounts) in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (x) no later than the Business Day immediately preceding the next succeeding date on which such funds are required to be withdrawn from such account pursuant to this Agreement or (y) if and to the extent that the depository institution maintaining such Investment Account is the obligor on such investment, no later than the time and date as of which such funds are required to be withdrawn from such account pursuant to this Agreement (but in any event prior to distributions on the Certificates or any transfers to another Investment Account being made on or before the related Distribution Date); provided that in the case of any Servicing Account, any Reserve Account or the Defeasance Deposit Account, such investment direction shall be subject to the related loan documents and applicable law.

Investment of Funds in the Collection Account, the Servicing Accounts, the Reserve Accounts. the Defeasance Deposit Account, the Custodial Accounts, the REO Accounts, the Interest Reserve Account and the Excess Liquidation Proceeds Account. (i) The Master Servicer may direct in writing any depository institution maintaining a Servicing Account, a Reserve Account, the Defeasance Deposit Account or a Custodial Account (any of the foregoing accounts listed in this clause (i), a "Master Servicer Account"), (ii) the Special Servicer may direct in writing any depository institution maintaining an REO Account, and (iii) the Trustee may direct (pursuant to a standing order or otherwise) any depository institution maintaining the Collection Account, the Interest Reserve Account or the Excess Liquidation Proceeds Account (any of the foregoing accounts listed in this clause (iii), a "Trustee Account"; and any of the Master Servicer Accounts, the REO Accounts and Trustee Accounts, an "Investment Account"), to invest, or if it is such depository institution, may itself invest, the funds held therein (other than, in the case of the Pool Custodial Account and the Collection Account, the Initial Deposits) in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (x) no later than the Business Day immediately preceding the next succeeding date on which such funds are required to be withdrawn from such account pursuant to this Agreement or (y) if and to the extent that the depository institution maintaining such Investment Account is the obligor on such investment, no later than the time and date as of which such funds are required to be withdrawn from such account pursuant to this Agreement (but in any event prior to distributions on the Certificates or any transfers to another Investment Account being made on or before the related Distribution Date); provided that in the case of any Servicing Account, any Reserve Account or the Defeasance Deposit Account, such investment direction shall be subject to the related loan documents and applicable law.

Investment of Funds in the Collection Account, the Servicing Accounts, the Reserve Accounts. the Defeasance Deposit Account, the Custodial Accounts, the REO Accounts, the Interest Reserve Account and the Excess Liquidation Proceeds Account. (i) The Master Servicer may direct in writing any depository institution maintaining a Servicing Account, a Reserve Account, the Defeasance Deposit Account or a Custodial Account (any of the foregoing accounts listed in this clause (i), a "Master Servicer Account"), (ii) the Special Servicer may direct in writing any depository institution maintaining an REO Account, and (iii) the Trustee may direct (pursuant to a standing order or otherwise) any depository institution maintaining the Collection Account, the Interest Reserve Account or the Excess Liquidation Proceeds Account (any of the foregoing accounts listed in this clause (iii), a "Trustee Account"; and any of the Master Servicer Accounts, the REO Accounts and Trustee Accounts, an "Investment Account"), to invest, or if it is such depository institution, may itself invest, the funds held therein (other than, in the case of the Pool Custodial Account, the Interest Reserve Account and the Collection Account, the Initial Deposits) in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (x) no later than the Business Day immediately preceding the next succeeding date on which such funds are required to be withdrawn from such account pursuant to this Agreement or (y) if and to the extent that the depository institution maintaining such Investment Account is the obligor on such investment, no later than the time and date as of which such funds are required to be withdrawn from such account pursuant to this Agreement (but in any event prior to distributions on the Certificates or any transfers to another Investment Account being made on or before the related Distribution Date); provided that in the case of any Servicing Account, any Reserve Account or the Defeasance Deposit Account, such investment direction shall be subject to the related loan documents and applicable law.. 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 Trustee (in its capacity as such) and, in the case of a Permitted Investment in any Investment Account solely related to a Serviced Loan Combination, the related Serviced Non-Trust Mortgage Loan Noteholder(s). The Master Servicer (with respect to Permitted Investments of amounts in the Master Servicer Accounts) and the Special Servicer (with respect to Permitted Investments of amounts in the REO Accounts), on behalf

Investment of Funds in the Collection Account, the Servicing Accounts, the Reserve Accounts. the Defeasance Deposit Account, the Custodial Accounts, the REO Accounts, the Interest Reserve Account and Account, the Excess Liquidation Proceeds AccountAccount and the Floating Rate Accounts. (i) The Master Servicer may direct in writing any depository institution maintaining a Servicing Account, a Reserve Account, the Defeasance Deposit Account or a Custodial Account (any of the foregoing accounts listed in this clause (i), a "Master Servicer Account"), (ii) the Special Servicer may direct in writing any depository institution maintaining an REO Account, and (iii) the Trustee may direct (pursuant to a standing order or otherwise) any depository institution maintaining the Collection Account, the Interest Reserve Account or Account, the Excess Liquidation Proceeds Account or any Floating Rate Account (any of the foregoing accounts listed in this clause (iii), a "Trustee Account"; and any of the Master Servicer Accounts, the REO Accounts and Trustee Accounts, an "Investment Account"), to invest, or if it is such depository institution, may itself invest, the funds held therein (other than, in the case of the Pool Custodial Account and the Collection Account, the Initial Deposits) in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (x) no later than the Business Day immediately preceding the next succeeding date on which such funds are required to be withdrawn from such account pursuant to this Agreement or (y) if and to the extent that the depository institution maintaining such Investment Account is the obligor on such investment, no later than the time and date as of which such funds are required to be withdrawn from such account pursuant to this Agreement (but in any event prior to distributions on the Certificates or any transfers to another Investment Account being made on or before the related Distribution Date); provided that in the case of any Servicing Account, any Reserve Account or the Defeasance Deposit Account, such investment direction shall be subject to the related loan documents and applicable law.

Investment of Funds in the Collection Account, the Servicing Accounts, the Reserve Accounts. the Defeasance Deposit Account, the Custodial Accounts, the REO Accounts, the Interest Reserve Account and the Excess Liquidation Proceeds Account. (i) The Master Servicer may direct in writing any depository institution maintaining a Servicing Account, a Reserve Account, the Defeasance Deposit Account or a Custodial Account (any of the foregoing accounts listed in this clause (i), a "Master Servicer Account"), (ii) the Special Servicer may direct in writing any depository institution maintaining an REO Account, and (iii) the Trustee may direct (pursuant to a standing order or otherwise) any depository institution maintaining the Collection Account, the Interest Reserve Account or the Excess Liquidation Proceeds Account (any of the foregoing accounts listed in this clause (iii), a "Trustee Account"; and any of the Master Servicer Accounts, the REO Accounts and Trustee Accounts, an "Investment Account"), to invest, or if it is such depository institution, may itself invest, the funds held therein (other than, in the case of the Pool Custodial Account, the Interest Reserve Account and the Collection Account, the Initial Deposits) in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (x) no later than the Business Day immediately preceding the next succeeding date on which such funds are required to be withdrawn from such account pursuant to this Agreement or (y) if and to the extent that the depository institution maintaining such Investment Account is the obligor on such investment, no later than the time and date as of which such funds are required to be withdrawn from such account pursuant to this Agreement (but in any event prior to distributions on the Certificates or any transfers to another Investment Account being made on or before the related Distribution Date); provided that in the case of any Servicing Account, any Reserve Account or the Defeasance Deposit Account, such investment direction shall be subject to the related loan documents and applicable law.. 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 Trustee (in its capacity as such) and, in the case of a Permitted Investment in any Investment Account solely related to a Serviced Loan Combination, the related Serviced Non-Trust Mortgage Loan Noteholder(s). The Master Servicer (with respect to Permitted Investments of amounts in the Master Servicer Accounts) and the Special Servicer (with respect to Permitted Investments of amounts in the REO Accounts), on behalf of the Trustee and, in the case of any Investment Account solely related to a Serviced Loan

Investment of Funds in the Collection Account, the Servicing Accounts, the Reserve Accounts. the Defeasance Deposit Account, the Custodial Accounts, the REO Accounts, the Interest Reserve Account and the Excess Liquidation Proceeds Account. (i) The Master Servicer may direct in writing any depository institution maintaining a Servicing Account, a Reserve Account, the Defeasance Deposit Account or a Custodial Account (any of the foregoing accounts listed in this clause (i), a "Master Servicer Account"), (ii) the Special Servicer may direct in writing any depository institution maintaining an REO Account, and (iii) the Trustee may direct (pursuant to a standing order or otherwise) any depository institution maintaining the Collection Account, the Interest Reserve Account or the Excess Liquidation Proceeds Account (any of the foregoing accounts listed in this clause (iii), a "Trustee Account"; and any of the Master Servicer Accounts, the REO Accounts and Trustee Accounts, an "Investment Account"), to invest, or if it is such depository institution, may itself invest, the funds held therein (other than, in the case of the Pool Custodial Account and the Collection Account, the Initial Deposits and other than, in the case of the Interest Reserve Account and the Collection Account, the Interest Reserve Deposits) in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (x) no later than the Business Day immediately preceding the next succeeding date on which such funds are required to be withdrawn from such account pursuant to this Agreement or (y) if and to the extent that the depository institution maintaining such Investment Account is the obligor on such investment, no later than the time and date as of which such funds are required to be withdrawn from such account pursuant to this Agreement (but in any event prior to distributions on the Certificates or any transfers to another Investment Account being made on or before the related Distribution Date); provided that in the case of any Servicing Account, any Reserve Account or the Defeasance Deposit Account, such investment direction shall be subject to the related loan documents and applicable law.

Investment of Funds in the Collection Account, the Servicing Accounts, the Reserve Accounts. the Defeasance Deposit Account, the Custodial Accounts, the REO Accounts, the Interest Reserve Account and the Excess Liquidation Proceeds Account. (i) The Master Servicer may direct in writing any depository institution maintaining a Servicing Account, a Reserve Account, the Defeasance Deposit Account or a Custodial Account (any of the foregoing accounts listed in this clause (i), a "Master Servicer Account"), (ii) the Special Servicer may direct in writing any depository institution maintaining an REO Account, and (iii) the Trustee may direct (pursuant to a standing order or otherwise) any depository institution maintaining the Collection Account, the Interest Reserve Account or the Excess Liquidation Proceeds Account (any of the foregoing accounts listed in this clause (iii), a "Trustee Account"; and any of the Master Servicer Accounts, the REO Accounts and Trustee Accounts, an "Investment Account"), to invest, or if it is such depository institution, may itself invest, the funds held therein (other than, in the -187- case of the Pool Custodial Account and the Collection Account, the Initial Deposits) in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (x) no later than the Business Day immediately preceding the next succeeding date on which such funds are required to be withdrawn from such account pursuant to this Agreement or (y) if and to the extent that the depository institution maintaining such Investment Account is the obligor on such investment, no later than the time and date as of which such funds are required to be withdrawn from such account pursuant to this Agreement (but in any event prior to distributions on the Certificates or any transfers to another Investment Account being made on or before the related Distribution Date); provided that in the case of any Servicing Account, any Reserve Account or the Defeasance Deposit Account, such investment direction shall be subject to the related loan documents and applicable law.

Investment of Funds in the Collection Account, the Servicing Accounts, the Reserve Accounts. the Defeasance Deposit Account, the Custodial Accounts, the REO Accounts, the Interest Reserve Account and the Excess Liquidation Proceeds Account. (i) The Master Servicer may direct in writing any depository institution maintaining a Servicing Account, a Reserve Account, the Defeasance Deposit Account or a Custodial Account (any of the foregoing accounts listed in this clause (i), a "Master Servicer Account"), (ii) the Special Servicer may direct in writing any depository institution maintaining an REO Account, and (iii) the Trustee may direct (pursuant to a standing order or otherwise) any depository institution maintaining the Collection Account, the Interest Reserve Account or the Excess Liquidation Proceeds Account (any of the foregoing accounts listed in this clause (iii), a "Trustee Account"; and any of the Master Servicer Accounts, the REO Accounts and Trustee Accounts, an "Investment Account"), to invest, or if it is such depository institution, may itself invest, the funds held therein (other than, in the case of the Pool Custodial Account and the Collection Account, the Initial Deposits) in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (x) no later than the Business Day immediately preceding the next succeeding date on which such funds are required to be withdrawn from such account pursuant to this Agreement or (y) if and to the extent that the depository institution maintaining such Investment Account is the obligor on such investment, no later than the time and date as of which such funds are required to be withdrawn from such account pursuant to this Agreement (but in any event prior to distributions on the Certificates or any transfers to another Investment Account being made on or before the related Distribution Date); provided that in the case of any Servicing Account, any Reserve Account or the Defeasance Deposit Account, such investment direction shall be subject to the related loan documents and applicable law.

Investment of Funds in the Collection Account, the Servicing Accounts, the Reserve Accounts. the Defeasance Deposit Account, the Custodial Accounts, the REO Accounts, the Interest Reserve Account and the Excess Liquidation Proceeds Account. (i) The Master Servicer may direct in writing any depository institution maintaining a Servicing Account, a Reserve Account, the Defeasance Deposit Account or a Custodial Account (any of the foregoing accounts listed in this clause (i), a "Master Servicer Account"), (ii) the Special Servicer may direct in writing any depository institution maintaining an REO Account, and (iii) the Trustee may direct (pursuant to a standing order or otherwise) any depository institution maintaining the Collection Account, the Interest Reserve Account or the Excess Liquidation Proceeds Account (any of the foregoing accounts listed in this clause (iii), a "Trustee Account"; and any of the Master Servicer Accounts, the REO Accounts and Trustee Accounts, an "Investment Account"), to invest, or if it is such depository institution, may itself invest, the funds held therein (other than, in the case of the Pool Custodial Account and the Collection Account, the Initial Deposits) in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (x) no later than the Business Day immediately preceding the next succeeding date on which such funds are required to be withdrawn from such account pursuant to this Agreement or (y) if and to the extent that the depository institution maintaining such Investment Account is the obligor on such investment, no later than the time and date as of which such funds are required to be withdrawn from such account pursuant to this Agreement (but in any event prior to distributions on the Certificates or any transfers to another Investment Account being made on or before the related Distribution Date); provided that in the case of any Servicing Account, any Reserve Account or the Defeasance Deposit Account, such investment direction shall be subject to the related loan documents and applicable law.. 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 Trustee (in its capacity as such) and, in the case of a Permitted Investment in any Investment Account solely related to a

Investment of Funds in the Collection Account, the Servicing Accounts, the Reserve Accounts. the Defeasance Deposit Account, the Custodial Accounts, the REO Accounts, the Interest Reserve Account and the Excess Liquidation Proceeds Account. (i) The Master Servicer may direct in writing any depository institution maintaining a Servicing Account, a Reserve Account, the Defeasance Deposit Account or a Custodial Account (any of the foregoing accounts listed in this clause (i), a "Master Servicer Account"), (ii) the Special Servicer may direct in writing any depository institution maintaining an REO Account, and (iii) the Trustee may direct (pursuant to a standing order or otherwise) any depository institution maintaining the Collection Account, the Interest Reserve Account or the Excess Liquidation Proceeds Account (any of the foregoing accounts listed in this clause (iii), a "Trustee Account"; and any of the Master Servicer Accounts, the REO Accounts and Trustee Accounts, an "Investment Account"), to invest, or if it is such depository institution, may itself invest, the funds held therein (other than, in the case of the Pool Custodial Account and the Collection Account, the Initial Deposits) in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (x) no later than the Business Day immediately preceding the next succeeding date on which such funds are required to be withdrawn from such account pursuant to this Agreement or (y) if and to the extent that the depository institution maintaining such Investment Account is the obligor on such investment, no later than the time and date as of which such funds are required to be withdrawn from such account pursuant to this Agreement (but in any event prior to distributions on the Certificates or any transfers to another Investment Account being made on or before the related Distribution Date); provided that in the case of any Servicing Account, any Reserve Account or the Defeasance Deposit Account, such investment direction shall be subject to the related loan documents and applicable law.. 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 Trustee (in its capacity as such) and, in the case of a Permitted Investment in any Investment Account solely related to a Serviced Loan Combination, the related Serviced Non-Trust Mortgage Loan Noteholder(s). The Master Servicer (with respect to Permitted Investments of amounts in the Master Servicer Accounts) and the Special Servicer (with respect to Permitted Investments of amounts in the REO Accounts), on behalf of the Trustee and, in the case of any Investment Account solely related to a Serviced Loan

Investment of Funds in the Collection Account, the Servicing Accounts, the Reserve Accounts. the Defeasance Deposit Account, the Custodial Accounts, the REO Accounts, the Interest Reserve Account and the Excess Liquidation Proceeds Account. (i) The Master Servicer may direct in writing any depository institution maintaining a Servicing Account, a Reserve Account, the Defeasance Deposit Account or a Custodial Account (any of the foregoing accounts listed in this clause (i), a "Master Servicer Account"), (ii) the Special Servicer may direct in writing any depository institution maintaining an REO Account, and (iii) the Trustee may direct (pursuant to a standing order or otherwise) any depository institution maintaining the Collection Account, the Interest Reserve Account or the Excess Liquidation Proceeds Account (any of the foregoing accounts listed in this clause (iii), a "Trustee Account"; and any of the Master Servicer Accounts, the REO Accounts and Trustee Accounts, an "Investment Account"), to invest, or if it is such depository institution, may itself invest, the funds held therein (other than, in the case of the Pool Custodial Account and the Collection Account, the Initial Deposits) in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (x) no later than the Business Day immediately preceding the next succeeding date on which such funds are required to be withdrawn from such account pursuant to this Agreement or (y) solely in the case of a Trustee Account, if and to the extent that the depository institution maintaining such Investment Trustee Account is the obligor on such investment, no later than the time and date as of on which such funds are required to be withdrawn from such account pursuant to this Agreement (but in any event prior to distributions on the Certificates or any transfers to another Investment Trustee Account being made on or before the related Distribution Date); provided that in the case of any Servicing Account, any Reserve Account or the Defeasance Deposit Account, such investment direction shall be subject to the related loan documents and applicable law.