Common use of Permitted Investments Clause in Contracts

Permitted Investments. Notwithstanding anything to the contrary in the Indenture or the Pooling and Servicing Agreement, with respect to the Class A(2015-3) Notes, for purposes of the definition of Permitted Investment, “Highest Rating” shall mean, with respect to Standard & Poor’s:

Permitted Investments. Notwithstanding anything to the contrary in the Indenture or the Pooling and Servicing Agreement, with respect to the Class A(2015-31) Notes, for purposes of the definition of Permitted Investment, “Highest Rating” shall mean, with respect to Standard & Poor’s:

Permitted Investments. Notwithstanding anything to the contrary in the Indenture or the Pooling and Servicing Agreement, with respect to the Class A(2015A(2013-31) Notes, for purposes of the definition of Permitted Investment, “Highest Rating” shall mean, with respect to Standard & Poor’s:

Permitted Investments. Notwithstanding anything to the contrary in the Indenture or the Pooling and Servicing Agreement, with respect to the Class A(2015B(2012-3) Notes, for purposes of the definition of Permitted Investment, “Highest Rating” shall mean, with respect to Standard & Poor’s:

Permitted Investments. Notwithstanding anything to the contrary in the Indenture or the Pooling and Servicing Agreement, with respect to the Class A(2015A(2013-3) Notes, for purposes of the definition of Permitted Investment, “Highest Rating” shall mean, with respect to Standard & Poor’s:

Permitted Investments. Notwithstanding anything to the contrary in the Indenture or the Pooling and Servicing Agreement, with respect to the Class A(2015A(2013-34) Notes, for purposes of the definition of Permitted Investment, “Highest Rating” shall mean, with respect to Standard & Poor’s:

Permitted Investments. Notwithstanding anything to the contrary in the Indenture or the Pooling and Servicing Agreement, with respect to the Class A(2015A(2013-32) Notes, for purposes of the definition of Permitted Investment, “Highest Rating” shall mean, with respect to Standard & Poor’s:

Permitted Investments. Notwithstanding anything to the contrary in the Indenture or the Pooling and Servicing Agreement, with respect to the Class A(2015A(2014-31) Notes, for purposes of the definition of Permitted Investment, “Highest Rating” shall mean, with respect to Standard & Poor’s:

Permitted Investments. Notwithstanding anything to the contrary in the Indenture or the Pooling and Servicing Agreement, with respect to the Class A(2015A(2014-32) Notes, for purposes of the definition of Permitted Investment, “Highest Rating” shall mean, with respect to Standard & Poor’s:

Permitted Investments. Notwithstanding anything to the contrary in the Indenture or the Pooling and Servicing Agreement, with respect to the Class A(2015-34) Notes, for purposes of the definition of Permitted Investment, “Highest Rating” shall mean, with respect to Standard & Poor’s:

Permitted Investments. Notwithstanding anything to the contrary in the Indenture or the Pooling and Servicing Agreement, with respect to the Class A(2015A(2014-35) Notes, for purposes of the definition of Permitted Investment, “Highest Rating” shall mean, with respect to Standard & Poor’s:

Permitted Investments. Notwithstanding anything to the contrary in the Indenture or the Pooling and Servicing Agreement, with respect to the Class A(2015A(2014-34) Notes, for purposes of the definition of Permitted Investment, “Highest Rating” shall mean, with respect to Standard & Poor’s:

Permitted Investments. Notwithstanding anything to the contrary in the Indenture or the Pooling and Servicing Agreement, with respect to the Class A(2015A(2013-36) Notes, for purposes of the definition of Permitted Investment, “Highest Rating” shall mean, with respect to Standard & Poor’s:

Permitted Investments. Notwithstanding anything to the contrary in the Indenture or the Pooling and Servicing Agreement, with respect to the Class A(2015A(2013-35) Notes, for purposes of the definition of Permitted Investment, “Highest Rating” shall mean, with respect to Standard & Poor’s:

Permitted Investments. Notwithstanding anything to the contrary in the Indenture or the Pooling and Servicing Agreement, with respect to the Class A(2015A(2014-3) Notes, for purposes of the definition of Permitted Investment, “Highest Rating” shall mean, with respect to Standard & Poor’s:

Permitted Investments. Notwithstanding anything to the contrary in the Indenture or the Pooling and Servicing Agreement, with respect to the Class A(2015-32) Notes, for purposes of the definition of Permitted Investment, “Highest Rating” shall mean, with respect to Standard & Poor’s: