Common use of Investments by the Master Servicer or the Securities Administrator Clause in Contracts

Investments by the Master Servicer or the Securities Administrator. Any investment by the Master Servicer or the Securities Administrator of amounts received hereunder shall be in Permitted Investments only; provided that for any period other than the Master Servicer Investment Period such investment shall be at the written direction of GSMC. In the absence of such written direction from GSMC, the Master Servicer shall invest in the Xxxxx Fargo Advantage Prime Money Market Fund. All income and gain realized from any such investment of amounts in the Master Servicer Account shall be for the benefit of the Master Servicer and shall be subject to its withdrawal on order from time to time and shall not be part of the Trust Estate. All income and gain realized from any such investment of amounts in the Certificate Account shall be for the benefit of the Securities Administrator and shall be subject to its withdrawal on order from time to time. In the event of a loss or reduction in the amount to be remitted by the Master Servicer to the Securities Administrator on the Master Servicer Remittance Date or the amount to be remitted by the Securities Administrator on the Distribution Date because of a loss on a Permitted Investment, the Master Servicer or the Securities Administrator, as applicable, shall be required to deposit the amount of such loss into the Master Servicer Account or the Certificate Account, as applicable, within one Business Day of realization of such loss from its own funds without reimbursement; provided, however, that in the event of any loss on investments by the Master Servicer in Permitted Investments made at the direction of GSMC, the Depositor shall cause GSMC to deposit from its own funds the amount of such loss into the Master Servicer Account or the Certificate Account, as applicable, within one Business Day of realization of such loss.

Investments by the Master Servicer or the Securities Administrator. Any investment by the Master Servicer or the Securities Administrator of amounts received hereunder shall be in Permitted Investments only; , provided that for any period other than the Master Servicer Investment Period such investment shall be at the written direction of GSMC. In the absence of such written direction from GSMC, the Master Servicer shall invest in the Xxxxx Fargo Advantage Prime Money Market Fund. All income and gain realized from any such investment of amounts in the Master Servicer Account shall be for the benefit of the Master Servicer and shall be subject to its withdrawal on order from time to time and shall not be part of the Trust Estate. All income and gain realized from any such investment of amounts in the Certificate Account shall be for the benefit of the Securities Administrator and shall be subject to its withdrawal on order from time to time. In the event of a loss or reduction in the amount to be remitted by the Master Servicer to the Securities Administrator on the Master Servicer Remittance Date or the amount to be remitted by the Securities Administrator on the Distribution Date because of a loss on a Permitted Investment, the Master Servicer or the Securities Administrator, as applicable, shall be required to deposit the amount of such loss into the Master Servicer Account or the Certificate Account, as applicable, within one Business Day of realization of such loss from its own funds without reimbursement; , provided, however, that in the event of any loss on investments by the Master Servicer in Permitted Investments made at the direction of GSMC, GSMC the Depositor shall cause GSMC to deposit from its own funds the amount of such loss into the Master Servicer Account or the Certificate Account, as applicable, within one Business Day of realization of such lossloss from its own funds.

Investments by the Master Servicer or the Securities Administrator. Any investment by the Master Servicer or the Securities Administrator of amounts received hereunder shall be in Permitted Investments only; provided that for any period other Other than during the Master Servicer Investment Period such investment shall be at the written direction of GSMC. In the absence of such written direction from GSMCPeriod, the Master Servicer Depositor shall direct the investment of funds in the Certificate Account in one or more Permitted Investments. Absent such direction, the Securities Administrator shall invest such funds during such period in the Xxxxx Wxxxx Fargo Advantage Prime Investment Money Market FundFund so long as such fund is a Permitted Investment. All income and gain realized from any such investment of amounts in the Master Servicer Account shall be for the benefit of the Master Servicer and shall be subject to its withdrawal on order from time to time time, and shall not be part of the Trust Estate. All income and gain realized from any such investment of amounts in the Certificate Account shall be for the benefit of the Securities Administrator and shall be subject to its withdrawal on order from time to time. In the event of a loss or reduction in the amount to be remitted by the Master Servicer to the Securities Administrator on the Master Servicer Remittance Date or the amount to be remitted by the Securities Administrator on the Distribution Date because of a loss on a Permitted Investment, the Master Servicer or the Securities Administrator, as applicable, shall be required to deposit the amount of such loss into the Master Servicer Account or the Certificate Account, as applicable, within one Business Day of realization of such loss from its own funds without reimbursement; provided, however, that in the event of any loss on investments by the Master Servicer in Permitted Investments made at the direction of GSMC, the Depositor shall cause GSMC to deposit from its own funds the amount of such loss into the Master Servicer Account or the Certificate Account, as applicable, within one Business Day of realization of such loss.

Investments by the Master Servicer or the Securities Administrator. Any investment by Other than during the Master Servicer Float Period, the Depositor shall direct the investment of funds received by 2 p.m. eastern standard time on the Servicer Remittance Date in one or more Permitted Investments. Absent such direction, the Securities Administrator of amounts received hereunder shall invest such funds during such period in the Xxxxxxx Sachs Financial Square Prime Obligation Fund 426 or any successor fund so long as such fund is a Permitted Investment. The Securities Administrator may (but shall not be obligated to) invest funds in Permitted Investments only; provided that for any period other than the Master Servicer Account during the Master Servicer Float Period (for purposes of this Section 3.01(f), such Account is referred to as an “Investment Period Account”), in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, or maturing on such Distribution Date, in the case of an investment that is an obligation of Xxxxx Fargo, 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. 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 Securities Administrator. The Securities Administrator shall be entitled to sole possession over each such investment, and any certificate or other instrument evidencing any such investment shall be at delivered directly to the written direction Securities Administrator or its agent, together with any document of GSMC. In transfer necessary to transfer title to such investment to the absence of such written direction from GSMC, the Master Servicer shall invest in the Xxxxx Fargo Advantage Prime Money Market FundSecurities Administrator. All income and gain realized from any such investment of amounts in the Master Servicer Account shall be for the benefit of the Master Servicer and shall be subject to its withdrawal on order from time to time and shall not be part of the Trust Estate. All income and gain realized from any such investment of amounts in the Certificate Investment Account shall be for the benefit of the Securities Administrator and shall be subject to its withdrawal on order from time to time. In the event of a loss or reduction in the amount to be remitted by the Master Servicer to the Securities Administrator on the Master Servicer Remittance Date or the amount to be remitted by the Securities Administrator on the Distribution Date because of a loss on a Permitted Investment, the Master Servicer or the Securities Administrator, as applicable, shall be required to deposit the amount of such loss into the Master Servicer Account or the Certificate Account, as applicable, within one Business Day of realization of such loss from its own funds without reimbursement; provided, however, that in the event of any loss on investments by the Master Servicer in Permitted Investments made at the direction of GSMC, the Depositor shall cause GSMC to deposit from its own funds the amount of such loss into the Master Servicer Account or the Certificate Account, as applicable, within one Business Day of realization of such loss.