Common use of Administration of the Finance Charge and Principal Accounts Clause in Contracts

Administration of the Finance Charge and Principal Accounts. Funds on deposit in the Principal Account and the Finance Charge Account, subject to receipt by the Trustee of written investment directions, shall at all times be invested in Permitted Investments. Any such investment shall mature and such funds shall be available for withdrawal on or prior to the Transfer Date related to the Monthly Period in which such funds were processed for collection, or if so specified in the related Supplement, immediately preceding a Distribution Date and shall remain uninvested to the extent required for distribution on such Distribution Date. The Trustee shall maintain for the benefit of the Investor Certificateholders and each Credit Enhancement Provider (as each’s interests may appear herein or in a related Supplement) possession of the negotiable instruments or securities evidencing the Permitted Investments described in clause (a) of the definition thereof from the time of purchase thereof until the time of sale or maturity; provided, that no such investment shall be disposed of prior to its maturity date. At the end of each month, all interest and earnings (net of losses and investment expenses) on funds on deposit in the Principal Account and the Finance Charge Account shall be deposited by the Trustee in a separate deposit account with a Qualified Institution in the name of the Servicer, or a Person designated in writing by the Servicer, which shall not constitute a part of the Trust, or shall otherwise be turned over by the Trustee to the Servicer not less frequently than monthly. Subject to the restrictions set forth above, the Servicer, or a Person designated in writing by the Servicer, of which the Trustee shall have received written notification thereof, shall have the authority to instruct the Trustee with respect to the investment of funds on deposit in the Principal Account and the Finance Charge Account. For purposes of determining the availability of funds or the balances in the Finance Charge Account and the Principal Account for any reason under this Agreement, all investment earnings on such funds shall be deemed not to be available or on deposit.

Administration of the Finance Charge and Principal Accounts. Funds on deposit in the Principal Account and the Finance Charge Account, subject Account that are not both deposited and to receipt by be withdrawn on the Trustee of written investment directions, same date shall at all times be invested in Permitted Investments. Any such investment shall mature and such funds shall be available for withdrawal on or prior to the Series Transfer Date related to the Monthly Period in which such funds were processed for collectionreceived or deposited, or if so specified in the related Series Supplement, immediately preceding a Distribution Date and shall remain uninvested to the extent required for distribution on such Distribution Payment Date. The Trustee shall: (i) hold each Permitted Investment (other than such as are described in clause (c) of the definition thereof) that constitutes investment property through a securities intermediary, which securities intermediary shall (I) agree that such investment property shall at all times be credited to a securities account of which the Trustee is the entitlement holder, (II) comply with entitlement orders originated by the Trustee without the further consent of any other person or entity, (III) agree that all property credited to such securities account shall be treated as a financial asset, (IV) waive any lien on, security interest in, or right of set-off with respect to any property credited to such securities account, and (V) agree that its jurisdiction for purposes of Section 8-110 and Section 9-305(a)(3) of the UCC shall be New York, and that such agreement shall be governed by the laws of the State of New York; and (ii) maintain for the benefit of the Investor Certificateholders and Secured Parties, possession or control of each Credit Enhancement Provider other Permitted Investment (as each’s interests may appear herein or in a related Supplementincluding any negotiable instruments, if any, evidencing such Permitted Investments) possession of the negotiable instruments or securities evidencing the Permitted Investments not described in clause (ai) above (other than such as are described in clause (c) of the definition thereof from the time of purchase thereof until the time of sale or maturitythereof); provided, provided that no such investment Permitted Investment shall be disposed of prior to its maturity datedate if such disposition would result in a loss. Terms used in clause (i) above that are defined in the New York UCC and not otherwise defined herein shall have the meaning set forth in the New York UCC. At the end of each month, all interest and earnings (net of losses and investment expenses) on funds on deposit in the Principal Account and the Finance Charge Account shall be deposited by the Trustee in a separate deposit account with a Qualified Institution in the name Collection Account and treated as Investment Earnings. If at the end of a month losses and investment expenses on funds on deposit in either of the ServicerPrincipal Account and the Finance Charge Account exceed interest and earnings on such funds during such month, or a Person designated in writing by the Servicer, which shall not constitute a part of the Trust, or shall otherwise be turned over by the Trustee losses and expenses to the Servicer not less frequently than monthlyextent of such excess will be allocated, with respect to any Series, among the Noteholders of such Series and the Issuer as provided in the related Series Supplement. Subject to the restrictions set forth above, the ServicerIssuer, or a Person designated in writing by the ServicerHolder of the Issuer Interest, of which the Trustee shall have received written notification thereof, shall have the authority to instruct the Trustee with respect to the investment of funds on deposit in the Principal Account and the Finance Charge Account. For purposes of determining the availability of funds or the balances in the Finance Charge Account and the Principal Account for any reason under this Agreement, all investment earnings on such funds shall be deemed not to be available or on deposit.

Administration of the Finance Charge and Principal Accounts. Funds on deposit in the Principal Account and the Finance Charge Account, subject Account that are not both deposited and to receipt by be withdrawn on the Trustee of written investment directions, same date shall at all times be invested in Permitted Investments. Any such investment shall mature and such funds shall be available for withdrawal on or prior to the Transfer Date related to the Monthly Period in which such funds were processed for collectionreceived or deposited, or if so specified in the related Supplement, immediately preceding a Distribution Date and shall remain uninvested to the extent required for distribution on such Distribution Date. The Trustee shall maintain for the benefit of the Investor Certificateholders and each Credit Enhancement Provider (as each’s interests may appear herein or in a related Supplement) possession of the negotiable instruments or securities evidencing the Permitted Investments described in clause (a) of the definition thereof from the time of purchase thereof until the time of sale or maturity; provided, that no such investment shall be disposed of prior to its maturity date. At the end of each month, all interest and earnings (net of losses and investment expenses) on funds on deposit in the Principal Account and the Finance Charge Account shall be deposited by paid to the Trustee Holder of the Transferor Certificate. If at the end of a month losses and investment expenses on funds on deposit in a separate deposit account either of the Principal Account and the Finance Charge Account exceed interest and earnings on such funds during such month, losses and expenses to the extent of such excess will be allocated, with a Qualified Institution respect to any Series, among the Investor Certificateholders of such Series and the Holder of the Transferor Certificate as provided in the name of the Servicer, or a Person designated in writing by the Servicer, which shall not constitute a part of the Trust, or shall otherwise be turned over by the Trustee to the Servicer not less frequently than monthlyrelated Supplement. Subject to the restrictions set forth above, the ServicerHolder of the Transferor Certificate, or a Person designated in writing by the ServicerHolder of the Transferor Certificate, of which the Trustee shall have received written notification thereof, shall have the authority to instruct the Trustee with respect to the investment of funds on deposit in the Principal Account and the Finance Charge Account. For purposes of determining the availability of funds or the balances in the Finance Charge Account and the Principal Account for any reason under this Agreement, all investment earnings on such funds shall be deemed not to be available or on deposit.