Common use of Accounting and Reports to the Certificateholder, the Internal Revenue Service and Others Clause in Contracts

Accounting and Reports to the Certificateholder, the Internal Revenue Service and Others. The Administrator shall (a) maintain (or cause to be maintained) the books of the Trust on a fiscal year basis that is consistent with the fiscal year basis used by the Originator and on a cash basis method of accounting, (b) deliver to the Owner, as may be required by the Code and applicable Treasury Regulations, such information as may be required to enable the Owner to prepare its federal and state income tax returns, (c) file such tax returns relating to the Trust and make such elections as from time to time may be required or appropriate under any applicable state or federal statute or any rule or regulation thereunder so as to maintain the federal income tax treatment for the Trust as set forth in Section 2.11, (d) cause such tax returns to be signed in the manner required by law and (e) collect or cause to be collected any withholding tax as described in and in accordance with Section 5.02(c) with respect to income or distributions to Owner. The Owner Trustee shall elect under Section 1278 of the Code to include in income currently any market discount that accrues with respect to the Contracts. If applicable, the Owner Trustee shall not make the election provided under Section 754 or Section 761 of the Code.

Accounting and Reports to the Certificateholder, the Internal Revenue Service and Others. The Administrator Owner Trustee shall (a) maintain (or cause to be maintained) the books of the Trust on a fiscal calendar year basis that is consistent with and the fiscal year basis used by the Originator and on a cash basis accrual method of accounting, (b) deliver or cause to be delivered to the Owner, as may be required by the Code and applicable Treasury Regulations, such information as may be required to enable the Owner to prepare its federal and state income tax returns, (c) file or cause to be filed such tax returns relating to the Trust and make such elections as from time to time may be required or appropriate under any applicable state or federal statute or any rule or regulation thereunder so as to maintain the federal income tax treatment for the Trust as set forth in Section 2.11, (d) cause such tax returns to be signed in the manner required by law and (e) collect or cause to be collected any withholding tax as described in and in accordance with Section 5.02(c) with respect to income or distributions to Owner. The Owner Trustee shall elect under Section 1278 of the Code to include in income currently any market discount that accrues with respect to the Contracts. If applicable, the Owner Trustee shall not make the election provided under Section 754 or Section 761 of the Code. SECTION 5.06.

Accounting and Reports to the Certificateholder, the Internal Revenue Service and Others. The Administrator Owner Trustee shall (a) maintain (or cause to be maintained) the books of the Trust on a fiscal calendar year basis that is consistent with and the fiscal year basis used by the Originator and on a cash basis accrual method of accounting, (b) deliver to the Residual Interest Owner, as may be required by the Code and applicable Treasury Regulations, such information as may be required to enable the Residual Interest Owner to prepare its federal and state income tax returns, (c) file such tax returns relating to the Trust and make such elections as from time to time may be required or appropriate under any applicable state or federal statute or any rule or regulation thereunder so as to maintain the federal income tax treatment for the Trust as set forth in Section 2.11, (d) cause such tax returns to be signed in the manner required by law and (e) collect or cause to be collected any withholding tax as described in and in accordance with Section 5.02(c) with respect to income or distributions to Residual Interest Owner. The Owner Trustee shall elect under Section 1278 of the Code to include in income currently any market discount that accrues with respect to the ContractsReceivables. If applicable, the Owner Trustee shall not make the election provided under Section 754 or Section 761 of the Code.

Accounting and Reports to the Certificateholder, the Internal Revenue Service and Others. The Administrator Owner Trustee shall (a) maintain (or cause to be maintained) the books of the Trust on a fiscal calendar year basis that is consistent with and the fiscal year basis used by the Originator and on a cash basis accrual method of accounting, (b) deliver to the Owner, as may be required by the Code and applicable Treasury Regulations, such information as may be required to enable the Owner to prepare its federal and state income tax returns, (c) file such tax returns relating to the Trust and make such elections as from time to time may be required or appropriate under any applicable state or federal statute or any rule or regulation thereunder so as to maintain the federal income tax treatment for the Trust as set forth in Section 2.11, (d) cause such tax returns to be signed in the manner required by law and (e) collect or cause to be collected any withholding tax as described in and in accordance with Section 5.02(c) with respect to income or distributions to Owner. The Owner Trustee shall elect under Section 1278 of the Code to include in income currently any market discount that accrues with respect to the Contracts. If applicable, the Owner Trustee shall not make the election provided under Section 754 or Section 761 of the Code.

Accounting and Reports to the Certificateholder, the Internal Revenue Service and Others. The Administrator shall (a) maintain (or cause to be maintained) the books of the Trust on a fiscal calendar year basis that is consistent with and the fiscal year basis used by the Originator and on a cash basis accrual method of accounting, (b) deliver to the Owner, as may be required by the Code and applicable Treasury Regulations, such information as may be required to enable the Owner to prepare its federal and state income tax returns, (c) file such tax returns relating to the Trust and make such elections as from time to time may be required or appropriate under any applicable state or federal statute or any rule or regulation thereunder so as to maintain the federal income tax treatment for the Trust as set forth in Section 2.11, (d) cause such tax returns to be signed in the manner required by law and (e) collect or cause to be collected any withholding tax as described in and in accordance with Section 5.02(c) with respect to income or distributions to Owner. The Owner Trustee shall elect under Section 1278 of the Code to include in income currently any market discount that accrues with respect to the Contracts. If applicable, the Owner Trustee shall not make the election provided under Section 754 or Section 761 of the Code.

Accounting and Reports to the Certificateholder, the Internal Revenue Service and Others. The Administrator Owner Trustee shall (a) maintain (or cause to be maintained) the books of the Trust on a fiscal calendar year basis that is consistent with and the fiscal year basis used by the Originator and on a cash basis accrual method of accounting, (b) deliver to the Residual Interest Owner, as may be required by the Code and applicable Treasury Regulations, such information as may be required to enable the Residual Interest Owner to prepare its federal and state income tax returns, (c) file such tax returns relating to the Trust and make such elections as from time to time may be required or appropriate under any applicable state or federal statute or any rule or regulation thereunder so as to maintain the federal income tax treatment for the Trust as set forth in Section 2.112.11 hereof, (d) cause such tax returns to be signed in the manner required by law and (e) collect or cause to be collected any withholding tax as described in and in accordance with Section 5.02(c) hereof with respect to income or distributions to Residual Interest Owner. The Owner Trustee shall elect under Section 1278 of the Code to include in income currently any market discount that accrues with respect to the ContractsTimeshare Loans. If applicable, the Owner Trustee shall not make the election provided under Section 754 or Section 761 of the Code.