Common use of Investment of Funds in the Investment Accounts Clause in Contracts

Investment of Funds in the Investment Accounts. (a) Amounts in the Distribution Account may be invested in Permitted Investments as directed in writing by the Master Servicer (for purposes of this Section 3.03, an “Investment Account”) 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on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Securities Administrator is the obligor thereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Securities Administrator is the obligor thereon. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds shall be made in the name of the Trustee (in its capacity as such) or in the name of a nominee of the Trustee. The Securities Administrator shall be entitled to sole possession over each investment in the Distribution Account and, subject to subsection (b) below, the income thereon, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Securities Administrator or its agent, together with any document of transfer necessary to transfer title to such investment to the Trustee or its nominee.

Investment of Funds in the Investment Accounts. (a) Amounts in The Servicer may direct, by means of written directions (which may be standing directions), any depository institution maintaining the Collection Account, and the Distribution Account may be invested in Permitted Investments as directed in writing by the Master Servicer (each, for purposes of this Section 3.033.12, an “"Investment Account”) "), to invest the funds 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on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Securities Administrator Trustee is the obligor thereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Securities Administrator Trustee is the obligor thereon.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 Trustee (in its capacity as such) or in the name of a nominee of the Trustee. The Securities Administrator Trustee shall be entitled to sole possession over each such investment in the Distribution Account and, subject to subsection (b) below, and the income thereon, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Securities Administrator Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the 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 Trustee shall at the direction of the Servicer: