EFTA01365473.pdf

(B) from time to time for payments pursuant to Section 11.2, (C) upon certification from the Investment Manager on behalf of the Issuer that, to the best of its knowledge after reasonable inquiry, all expenses incurred in connection with the issuance of the Securities have been paid, and in any event no later than the Business Day preceding the second Distribution Date, amounts remaining in the Expense Reserve Account in excess of $50,000 shall be transferred to the Collection Account as Interest Proceeds or Principal Proceeds (as designated by the Investment Manager), (D) on any Distribution Date, to the Collection Account as Interest Proceeds or Principal Proceeds as directed by the Investment Manager. (c) Custodial Account. (i) Deposits. The Trustee shall promptly upon receipt deposit in the Custodial Account all property Delivered to the Trustee pursuant to this Indenture. (ii) Withdrawals. The only permitted withdrawal from or application of funds or property on deposit in the Custodial Account shall be in accordance with the provisions of this Indenture. (d) Uninvested Proceeds Account. (i) Deposits. The Trustee shall promptly upon receipt deposit in the Uninvested Proceeds Account all Net Proceeds at Closing not designated for deposit in another account pursuant to the Funding Certificate. (ii) Withdrawals. The only permitted withdrawal from or application of funds or property on deposit in the Uninvested Proceeds Account shall be in accordance with the provisions of this Indenture, including: (A) prior to the first Distribution Date, as so directed upon Issuer Order, for the purchase of Collateral Obligations, and (B) on the Business Day preceding the first Distribution Date, any amounts remaining in the Uninvested Proceeds Account to the Payment Account as (x) Principal Proceeds or (y) in an amount not exceeding $3 million, if otherwise instructed by the Investment Manager, Interest Proceeds. (e) Credit Facility Reserve Account. (i) Deposits. The Trustee shall immediately upon receipt deposit in the Credit Facility Reserve Account all funds and property designated in this Indenture for deposit in the Credit Facility Reserve Account in connection with the purchase of a Credit Facility, including; 143 ING IM CLO 2011-1 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0056223 CONFIDENTIAL SDNY GM_00202407 EFTA01365473