Common use of Overnight Investments Clause in Contracts

Overnight Investments. To the extent that, as of 12:00 noon, New York time on any Business Day, there are credit balances expected to remain after settlement of all pending transactions in any of the Collateral Accounts, unless otherwise instructed by Secured Party, Securities Intermediary shall apply the expected credit balances to acquire Overnight Investments. Any Overnight Investments shall be held for the credit of the Collateral Accounts from which the proceeds for acquisition was derived. If for any reason Securities Intermediary fails to invest credit balances in Overnight Investments as provided in this Section, Securities Intermediary shall credit the Mortgage Construction Guaranty Account with daily interest on the uninvested free credit balance in accordance with its usual practice.

Overnight Investments. To the extent that, as of 12:00 noon, New York time on any Business Day, there are credit balances expected to remain after settlement of all pending transactions in any of the Collateral Accounts, unless otherwise instructed by Secured Party, Securities Intermediary shall apply the expected credit balances to acquire Overnight Investments. Any Overnight Investments shall be held for the credit of the Collateral Accounts from which the proceeds for acquisition was derived. If for any reason Securities Intermediary fails to invest credit balances in Overnight Investments as provided in this Section, Securities Intermediary shall credit the Mortgage Construction Guaranty Notes Proceeds Account with daily interest on the uninvested free credit balance in accordance with its usual practice.. ANNEX A-7

Overnight Investments. To the extent that, as of 12:00 noon, New York time on any Business Day, there are credit balances expected to remain after settlement of all pending transactions in any of the Collateral Accounts, unless otherwise instructed by Secured Party, Securities Intermediary shall apply the expected credit balances to acquire Overnight Investments. Any Overnight Investments shall be held for the credit of the Collateral Accounts from which the proceeds for acquisition was derived. If for any reason Securities Intermediary fails to invest credit balances in Overnight Investments as provided in this Section, Securities Intermediary shall credit the Mortgage Construction Guaranty Notes Proceeds Account with daily interest on the uninvested free credit balance in accordance with its usual practice.