Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section 860F of the Code, or (ii) cause any REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 175 contracts
Samples: Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (CWMBS Inc)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.019.1, the Trust Fund and each REMIC created hereunder shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 9.3 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section Section 860F of the Code, or (ii) cause any REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 47 contracts
Samples: Custodial Agreement (First Horizon Asset Securities Inc), Pooling and Servicing Agreement (First Horizon Asset Securities Inc), Pooling and Servicing Agreement (First Horizon Asset Securities Inc)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.019.1, the Trust Fund and each REMIC created hereunder shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 9.3 will not (i) result in the imposition of taxes on "“prohibited transactions" ” on any REMIC as defined in section Section 860F of the Code, or (ii) cause any REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 33 contracts
Samples: Pooling and Servicing Agreement (First Horizon Asset Sec Mort Pass THR Certs Ser 2006-Fa8), Pooling and Servicing Agreement (First Horizon Asset Sec Mort Pass THR Certs Ser 2007-Fa5), Pooling and Servicing Agreement (First Horizon Asset Securities Inc)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC created hereunder as defined in section 860F of the Code, or (ii) cause any REMIC created hereunder to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 27 contracts
Samples: Pooling and Servicing Agreement (Popular ABS Inc Mortgage Pass-Through Certificates Series 2004-4), Pooling and Servicing Agreement (Popular ABS Mortgage Pass-Through Trust 2005-D), Pooling and Servicing Agreement (Popular Abs Mortgage Pass-Through Trust 2005-3)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01on the Mortgage Loans, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure of the Trust Fund to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section 860F of the Codea REMIC, or (ii) cause any REMIC created hereunder to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 19 contracts
Samples: Pooling and Servicing Agreement (Cwabs Inc), Pooling and Servicing Agreement (Cwabs Inc Asset Backed Certificates Series 2003-Bc1), Pooling and Servicing Agreement (Cwabs Inc)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option repurchases the Mortgage Loans as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Master Servicer obtains for the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, Counsel to the effect that the failure of the Trust Fund to comply with the requirements of this Section 9.03 9.02 will not (i) result in the imposition of taxes on the net income derived from "prohibited transactions" on any REMIC of the Trust Fund as defined in section 860F Section 86OF of the Code, Code or (ii) cause any REMIC the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 19 contracts
Samples: Pooling and Servicing Agreement (Opteum Mortgage Acceptance CORP), Pooling and Servicing Agreement (American Home Mortgage Assets LLC), Pooling and Servicing Agreement (American Home Mortgage Assets LLC)
Additional Termination Requirements. (a) In the event that the Master Servicer exercises its purchase option as provided in Section 9.0110.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has shall have been supplied furnished with an Opinion of Counsel, at the expense of the Master Servicer, Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "“prohibited transactions" on any REMIC ” of the Trust as defined in section Section 860F of the Code, Code or (ii) cause any REMIC the Trust Fund constituting part of the Trust Fund to fail to qualify as a REMIC two REMICs at any time that any Certificates are outstanding:
Appears in 14 contracts
Samples: Pooling and Servicing Agreement (PHHMC Series 2007-4 Trust), Pooling and Servicing Agreement (PHHMC Series 2007-6 Trust), Pooling and Servicing Agreement (PHHMC Series 2006-1 Trust)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "“prohibited transactions" on any REMIC ” as defined in section 860F of the CodeCode on any REMIC created under this Agreement, or (ii) cause any such REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 14 contracts
Samples: Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mort Ps THR Certs 2004-1), Pooling and Servicing Agreement (Mortgage Asset Sec Trans Incmastr Asset Sec Tr 2003 7), Pooling and Servicing Agreement (Mastr Asset Securitization Trust 2004-1)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.0110.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trust Administrator and the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 10.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section Section 860F of the CodeCode on the Upper-Tier REMIC or the Lower-Tier REMIC, or (ii) cause any such REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 13 contracts
Samples: Pooling and Servicing Agreement (MASTR Alternative Loan Trust 2004-7), Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mastr Asset Sec Tr 2004-5), Pooling and Servicing Agreement (MASTR Alternative Loan Trust 2004-9)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.019.1, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 9.3 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section 860F of the Code, or (ii) cause any REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 12 contracts
Samples: Pooling and Servicing Agreement (Saxon Asset Securities Trust 2002-1), Pooling and Servicing Agreement (Saxon Asset Securities Trust 2002-2), Pooling and Servicing Agreement (Saxon Asset Securities Co)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "“prohibited transactions" ” on any REMIC as defined in section 860F of the Code, or (ii) cause any REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 10 contracts
Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2007-23cb), Pooling and Servicing Agreement (Countrywide Home Loans 2005-J8), Pooling and Servicing Agreement (CHL Mortgage Pass-Through Trust 2007-Hy5)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any the REMIC as defined in section 860F of the Code, or (ii) cause any the REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 9 contracts
Samples: Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mort Pass THR Cert Ser 2001-3), Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (CWMBS Inc)
Additional Termination Requirements. (a) In the event that the Master Servicer exercises its purchase option as provided in Section 9.0110.01, the Trust Fund each REMIC shall be terminated in accordance with the following additional requirements, unless the Trustee has shall have been supplied furnished with an Opinion of Counsel, at the expense of the Master Servicer, Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC of the Trust as defined in section Section 860F of the Code, Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 9 contracts
Samples: Pooling and Servicing Agreement (Option One Mort Accept Corp Asset Backed Cert Series 2000-3), Pooling and Servicing Agreement (Financial Assets Sec Corp First Frank Mort Ln Tr 2002-Ff1), Pooling and Servicing Agreement (Option One Mort Accep Corp Asset Backed Cert Ser 2000-1)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section 860F of the Code, or (ii) cause any REMIC hereunder to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 9 contracts
Samples: Pooling and Servicing Agreement (Mellon Residential Funding Corp Mor Pas THR Cer Ser 01 Tbc1), Pooling and Servicing Agreement (Mellon Residential Funding Cor Mor Pas THR Cer Ser 2000-Tbc1), Pooling and Servicing Agreement (Mellon Residential Funding Corp)
Additional Termination Requirements. (a) In the event Upon exercise by the Master Servicer exercises of its purchase option as provided in Section 9.0110.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has have been supplied with an Opinion of CounselCounsel addressed to the Trustee, at the expense of the Master Servicer, to the effect that the failure of the Trust Fund to comply with the requirements of this Section 9.03 10.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section 860F of the Codea REMIC, or (ii) cause any a REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I LLC 2004-He5), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-He7), Custodial Agreement (Bear Stearns Asset Backed Certificates Series 2004-He2)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any the Upper-Tier REMIC or the Lower-Tier REMIC as defined in section 860F of the Code, or (ii) cause any either such REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (Mortgage Asset Sec Tr MSTR Alt Ln Tr Mt Ps THR Ct Sr 2003-3), Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mort Pass THR Cert Ser 2002-4), Pooling and Servicing Agreement (Mortgage Asset Securitization Transactions Inc)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any the Upper-Tier REMIC, the Middle-Tier REMIC or the Lower-Tier REMIC as defined in section 860F of the Code, or (ii) cause any such REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mort Pass THR Cert Ser 2002-7), Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mort Pass THR Cert Ser 2002-7), Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mort Pass THR Cert Ser 2002-3)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any the REMIC as defined in section Section 860F of the Code, or (ii) cause any the REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (Indymac MBS Inc), Pooling and Servicing Agreement (CWMBS Inc)
Additional Termination Requirements. (a) In the event that the Master Servicer exercises its purchase option as provided in Section 9.018.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied furnished with an Opinion of Counsel, at the expense of the Master Servicer, Counsel to the effect that the failure of the Trust Fund to comply with the requirements of this Section 9.03 8.02 will not (i) result in the imposition of taxes on "prohibited transactions" on of any REMIC created hereunder as defined in section Section 860F of the Code, Code or (ii) cause any REMIC created hereunder to fail to qualify as a REMIC at any time that any Offered Certificates or Class X Certificates are outstanding:
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (Abfs Mort Loan Trust 2002-4 Mort Pass Thru Cert Ser 2002-4), Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp), Pooling and Servicing Agreement (American Business Financial Services Inc /De/)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any the REMIC as defined in section 860F of the Code, or (ii) cause any REMIC the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Equity One Abs Inc), Pooling and Servicing Agreement (Equity One Abs Inc), Pooling and Servicing Agreement (Equity One Abs Inc)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.019.1, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 9.3 will not (i) result in the imposition of taxes on "“prohibited transactions" ” on any REMIC as defined in section 860F of the Code, or (ii) cause any REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Saxon Asset Securities Trust 2002-2), Pooling and Servicing Agreement (Saxon Asset Securities Co Mort Ln as Back Cert Se 2002 3), Pooling and Servicing Agreement (Saxon Asset Securities Co)
Additional Termination Requirements. (a) In the event that the Master Servicer exercises its purchase option as provided in Section 9.0110.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has shall have been supplied furnished with an Opinion of Counsel, at the expense of the Master Servicer, Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC of the Trust as defined in section Section 860F of the Code, Code or (ii) cause any REMIC the Trust Fund constituting part of the Trust Fund to fail to qualify as a REMIC two REMICs at any time that any Certificates are outstanding:
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (CDMC Mortgage Pass-Through Certificates, Series 2004-4), Pooling and Servicing Agreement (PHH Mortgage Capital LLC), Pooling and Servicing Agreement (PHHMC Mortgage Pass-Through Certificates, Series 2005-2)
Additional Termination Requirements. (a) In the event Upon exercise by the Master Servicer exercises of its purchase option as provided in Section 9.0110.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has and the Certificate Insurer have been supplied with an Opinion of CounselCounsel addressed to the Trustee and the Certificate Insurer, at the expense of the Master Servicer, to the effect that the failure of the Trust Fund to comply with the requirements of this Section 9.03 10.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section 860F of the Codea REMIC, or (ii) cause any a REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-Fr3), Pooling and Servicing Agreement (Bear Stearns Asst Asset Backed Certs Ser 2003 He1), Custodial Agreement (Asset-Backed Certificates Series 2004-He1)
Additional Termination Requirements. (a) In the event that the Master Servicer exercises its purchase option as provided in Section 9.0110.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has shall have been supplied furnished with an Opinion of Counsel, at the expense of the Master Servicer, Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC of the Trust as defined in section Section 860F of the Code, Code or (ii) cause any REMIC the Trust Fund constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Cendant Mortgage Capital LLC), Pooling and Servicing Agreement (CDMC Mortgage Pass-Through Certificates Series 2003-1), Pooling and Servicing Agreement (Cendant Mortgage Capital LLC CDMC Mort Pas THR Ce Se 04 1)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.0111.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied furnished with an Opinion of Counsel, at the expense of the Master Servicer, Counsel to the effect that the failure of the Trust Fund to comply with the requirements of this Section 9.03 11.02 will not (i) result in the imposition of taxes on "prohibited transactions" on any of the Trust REMIC as defined in section Section 860F of the Code, or (ii) cause any the Trust REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Eqcc Asset Backed Corp), Pooling and Servicing Agreement (Eqcc Asset Backed Corp), Pooling and Servicing Agreement (Eqcc Asset Backed Corp)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in pursuant to Section 9.019.01(b), the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure of the Trust Fund to comply with the requirements of this Section 9.03 9.02 will not (i) result in the imposition of taxes on "“prohibited transactions" on ” of any REMIC as defined in section 860F of the Codedescribed hereunder, or (ii) cause any REMIC described hereunder to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (HSBC Home Equity Loan Trust (USA) 2007-1), Pooling and Servicing Agreement (HSBC Home Equity Loan Trust (USA) 2006-4), Pooling and Servicing Agreement (HSBC Home Equity Loan Trust (USA) 2006-3)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any the Upper-Tier REMIC or the Lower-Tier REMIC as defined in section Section 860F of the Code, or (ii) cause any such REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Mastr Adjustable Rate Mortgages Trust 2004-2), Pooling and Servicing Agreement (Master Adjustable Rate Mortgages Trust 2004-2), Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mort Pas THR Certs Ser 2003 4)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any the Master REMIC and the Subsidiary REMIC as defined in section Section 860F of the Code, or (ii) cause any either REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 4 contracts
Samples: Exhibit 99 (CWMBS Inc), Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (CWMBS Inc)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any the Upper-Tier REMIC, the Middle-Tier REMIC or the Lower-Tier REMIC as defined in section Section 860F of the Code, or (ii) cause any such REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Mastr Adjustable Rate Mortgages Trust 2004-1), Pooling and Servicing Agreement (Mort Asset Sec Trans Mort Ps THR Certs Ser 2003-3), Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mastr Adj Rate Mort Tr 2004 3)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.019.1, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 9.3 will not (i) result in the imposition of taxes on "prohibited transactions" on any an Adverse REMIC as defined in section 860F of the Code, or (ii) cause any REMIC to fail to qualify as a REMIC at any time that any Certificates are outstandingEvent:
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Saxon Asset Sec Co Mort Loan Asset Backed Certs Ser 2003-3), Pooling and Servicing Agreement (Saxon Asset Securities Co), Pooling and Servicing Agreement (Saxon Asset Securities Trust 2005-4)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any 102 REMIC as defined in section 860F of the Code, or (ii) cause any REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (CHL Mortgage Pass-Through Trust 2006-Hyb1), Pooling and Servicing Agreement (CHL Mortgage Pass-Through Trust 2006-Hyb2), Pooling and Servicing Agreement (CWMBS Inc)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.0110.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trust Administrator and the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 10.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any the Upper-Tier REMIC or the Lower-Tier REMIC as defined in section Section 860F of the Code, or (ii) cause any such REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2004-10), Pooling and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2004-10), Pooling and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2004-12)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "“prohibited transactions" on any REMIC ” as defined in section 860F of the CodeCode on any REMIC created under this Agreement, or (ii) cause any such REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Mortgage Asset Sec Trans Incmastr Asset Sec Tr 2003 7), Pooling and Servicing Agreement (Mortgage Asset Seczt Trans Inc Mort Pass Thru Certs 2003-8), Pooling and Servicing Agreement (Mastr Asset Securitization Trust 2003-10)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 9.04 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section 860F of the Code, or (ii) cause any REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Mellon Residential Funding Corp), Pooling and Servicing Agreement (Mellon Residential Funding Corp), Pooling and Servicing Agreement (Mellon Residential Funding Corp Home Eq Instal Loan Tru 99-1)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section Section 860F of the Code, or (ii) cause any REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Cwalt Inc), Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (CWMBS Inc)
Additional Termination Requirements. (a) In the event the Master Servicer Depositor exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "“prohibited transactions" ” on any REMIC as defined in section Section 860F of the Code, or (ii) cause any REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (BellaVista Funding CORP), Pooling and Servicing Agreement (BellaVista Mortgage Trust 2004-2), Pooling and Servicing Agreement (BellaVista Mortgage Trust 2005-1)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any the REMIC as defined in section 860F of the Code, or (ii) cause any REMIC the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Cwabs Inc), Pooling and Servicing Agreement (Morgan Stanley Abs Capital I Inc), Pooling and Servicing Agreement (Indymac Abs Inc)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any the Upper-Tier REMIC or the Lower-Tier REMIC as defined in section 860F of the Code, or (ii) cause any either REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mort Pass THR Cert Ser 2002-3), Pooling and Servicing Agreement (Mortgage Asset Sec Transactions Inc Mastr Alt Ln Tr 2002 1), Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mor Pass THR Cer Ser 2001-2)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, 10.01 the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with received an Opinion of Counsel, at the expense of the Master Servicer, Counsel to the effect that the failure of the Trust Fund to comply with the requirements of this Section 9.03 10.02 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC of the Trust Fund as defined in section Section 860F of the Code, or (ii) cause any REMIC the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Sequoia Mortgage Funding Corp), Pooling and Servicing Agreement (Headlands Mortgage Securities Inc)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01on the Mortgage Loans, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of 133 the Master Servicer, to the effect that the failure of the Trust Fund to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section 860F of the Codea REMIC, or (ii) cause any REMIC created hereunder to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (CWABS Asset Backed Certificates Trust 2004-Bc3), Pooling and Servicing Agreement (CWABS Asset Backed Certificates Trust 2004-Bc3)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any of the Upper-Tier REMIC and Lower-Tier REMIC, respectively as defined in section 860F of the Code, or (ii) cause any either such REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mastr Adj Rate Mort Tr 2002 3), Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mort Pass THR Cert Ser 2002-4)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC hereunder as defined in section Section 860F of the Code, or (ii) cause any REMIC hereunder to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (CWMBS Inc)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, Servicer to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section Section 860F of the Code, or (ii) cause any REMIC created hereunder to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-Hy3), Pooling and Servicing Agreement (Alternative Loan Trust 2006-Hy10)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.019.1, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 9.3 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as 101 defined in section 860F of the Code, or (ii) cause any REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Saxon Asset Securities Co), Pooling and Servicing Agreement (Saxon Asset Securities Trust 2001-3)
Additional Termination Requirements. (a) In the event that the Master Servicer exercises its purchase option as provided in Section 9.0110.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has shall have been supplied furnished with an Opinion of Counsel, at the expense of the Master Servicer, Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "“prohibited transactions" on any REMIC ” of the Trust as defined in section Section 860F of the Code, Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 2 contracts
Samples: Assignment Agreement (Merrill Lynch Mortgage Investors Trust, Series 2005-A4), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2005-A7)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section 860F of the Code, or (ii) cause any REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Mortgage Pass THR Certs Ser 1998-1), Pooling and Servicing Agreement (Painewebber Mortgage Acceptance Corp Iv Series 2000-1)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section 860F IX-2 of the Code, or (ii) cause any REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Cwalt Inc), Pooling and Servicing Agreement (CWMBS Inc)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "“prohibited transactions" ” on any REMIC created hereunder as defined in section 860F of the Code, or (ii) cause any REMIC created hereunder to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Popular ABS Mortgage Pass-Through Trust 2007-A), Pooling and Servicing Agreement (Popular ABS Mortgage Pass-Through Trust 2006-D)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section 860F of the Code, or (ii) cause any REMIC created hereunder to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (Alternative Loan Trust 2005-38)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (ia) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section 860F of the Code, or (iib) cause any REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Mort Asset Sec Trans Inc E Trade Bank Mort Bak Sec Tr 2001 2), Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mort Pass THR Cert Ser 2002 1)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC created hereunder as defined in section 860F of the Code, or (ii) cause any REMIC created hereunder to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (CWMBS Inc)
Additional Termination Requirements. (a) In the event that the Master Servicer exercises its purchase option as provided in Section 9.0110.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has shall have been supplied furnished with an Opinion of Counsel, at the expense of the Master Servicer, Counsel to the effect that the failure of the Trust Fund to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "“prohibited transactions" on any REMIC ” of the Trust Fund as defined in section Section 860F of the Code, Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2005-A5), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2005-A5)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01the Mortgage Loans, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure of the Trust Fund to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section 860F of the Codea REMIC, or (ii) cause any REMIC created hereunder to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Asset Backed Certificates Series 2001-Bc1), Pooling and Servicing Agreement (Asset Backed Certificates Series 2001-Bc1)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, Servicer to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section Section 860F of the Code, or (ii) cause any REMIC created hererunder to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Cwalt Inc), Pooling and Servicing Agreement (Alternative Loan Trust 2005-43)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option the Optional Termination as provided in Section 9.0112.1, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will 12.3 shall not (i) result in the imposition of taxes on "“prohibited transactions" ” on any REMIC as defined in section 860F of the Code, or (ii) cause any REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (FBR Securitization, Inc.)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any 134 REMIC as defined in section 860F of the Code, or (ii) cause any REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2005-28cb)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will 91 97 not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section 860F of the Code, or (ii) cause any REMIC hereunder to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Mellon Residential Funding Corp Mort Pas THR Tr Se 2000 Tbc2)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.0110.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee Trust Administrator has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 10.02 will not (i) result in the imposition of taxes on "prohibited transactions" on any the REMIC as defined in section Section 860F of the Code, or (ii) cause any REMIC the Trust to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (American General MRT Ln Asst BCKD Ps THR CRTS Sr 2003-1)
Additional Termination Requirements. (a) In the event If the Master Servicer exercises its purchase option with respect to the Mortgage Loans as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC created hereunder as defined in section 860F of the Code, or (ii) cause any REMIC created under this Agreement to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Indymac Indx Mortgage Loan Trust 2004-Ar7)
Additional Termination Requirements. (a) In the event the [Master Servicer Servicer] exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section 860F of the Code, or (ii) cause any REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Additional Termination Requirements. (a) In the ----------------------------------- event the Master Servicer exercises its purchase repurchase option as provided in Section 9.0111.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with received an Opinion of Counsel, at the expense of the Master Servicer, Independent Counsel to the effect that the failure of the Trust Fund to comply with the requirements of this Section 9.03 11.02 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC of the Trust Fund as defined in section Section 860F of the Code, or (ii) cause any REMIC the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (MLCC Mortgage Investors Inc)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.0110.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trust Administrator and the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 10.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section Section 860F of the CodeCode on the Upper-Tier REMIC, Middle-Tier REMIC or the Lower-Tier REMIC, or (ii) cause any such REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (MASTR Alternative Loan Trust 2004-10)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has and the Guarantor have been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section 860F of the Code, or (ii) cause any REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "“prohibited transactions" ” on any REMIC as defined in section 860F of the Code, or (ii) cause any REMIC hereunder to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Mellon Residential Funding Corp)
Additional Termination Requirements. (a) In the event If the Master Servicer exercises its purchase option as provided in Section 9.0110.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with received an Opinion of Counsel, at the expense of the Master Servicer, Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 9.03 10.02 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC of the Trust as defined in section Section 860F of the Code, or (ii) cause any of the Upper-Tier REMIC, Middle-Tier REMIC or Lower-Tier REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding MTG Pass Thru Certs Ser 2003-3)
Additional Termination Requirements. (a) In the event that the Master Servicer exercises its purchase option as provided in Section 9.0111.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied furnished with an Opinion of Counsel, at the expense of the Master Servicer, Counsel to the effect that the failure of the REMIC Trust to comply with the requirements of this Section 9.03 11.02 will not (i) result in the imposition of taxes on "prohibited transactions" on any of the REMIC Trust as defined in section Section 860F of the Code, Code or (ii) cause any the REMIC Trust to fail to qualify as a REMIC at any time that any Class A Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Residential Asset Funding Corp)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.019.1, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with received an Opinion of Counsel, at the expense of the Master Servicer, Counsel to the effect that the failure of the Trust Fund to comply with the requirements of this Section 9.03 9.3 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC of the Trust Fund as defined described in section 860F Section 860F(a)(2) of the Code, or (ii) cause any REMIC I or REMIC II to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Abn Amro Mort Sec Multi Class Mort PSTHR Certs Ser 2003-13)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (ia) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section 860F of the Code, or (iib) cause any the REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mor Pass THR Cer Ser 2002-2)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on 107 "prohibited transactions" on any REMIC as defined in section 860F of the Code, or (ii) cause any REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (CHL Mortgage Pass-Through Trust 2007-Hyb1)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.019.1, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 9.3 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section 860F of the CodeCode on any REMIC created hereunder, or (ii) cause any REMIC created hereunder to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (First Horizon Asset Securities Inc)
Additional Termination Requirements. (a) In the event ----------------------------------- the Master Servicer exercises its purchase repurchase option as provided in Section 9.0111.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with received an Opinion of Counsel, at the expense of the Master Servicer, Independent Counsel to the effect that the failure of the Trust Fund to comply with the requirements of this Section 9.03 11.02 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC of the Trust Fund as defined in section Section 860F of the Code, or (ii) cause any REMIC the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (MLCC Mortgage Investors Inc)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "“prohibited transactions" ” on any the Upper-Tier REMIC or the Lower-Tier REMIC as defined in section 860F of the Code, or (ii) cause any such REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Mastr Asset Securitization Trust 2003-1)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section 860F of the Code, or (ii) cause any REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "“prohibited transactions" ” on any the Upper-Tier REMIC, the Middle-Tier REMIC or the Lower-Tier REMIC as defined in section 860F of the Code, or (ii) cause any such REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mort Pass THR Cert Ser 2002-8)
Additional Termination Requirements. (a) In the event that the Master Servicer exercises its purchase option as provided in Section 9.0110.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has shall have been supplied furnished with an Opinion of Counsel, at the expense of the Master Servicer, Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "“prohibited transactions" on any REMIC ” of the Trust as defined in section Section 860F of the Code, Code or (ii) cause any REMIC the Trust Fund constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (PHHMC Series 2007-5 Trust)
Additional Termination Requirements. (a) In a)In the event the Master Servicer exercises its purchase option as provided in Section 9.0111.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied furnished with an Opinion of Counsel, at the expense of the Master Servicer, Counsel to the effect that the failure of the Trust Fund to comply with the requirements of this Section 9.03 11.02 will not (i) result in the imposition of taxes on "prohibited transactions" on any of the Trust REMIC as defined in section Section 860F of the Code, or (ii) cause any the Trust REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Eqcc Asset Backed Corp)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any the REMIC as defined in section 860F of the Code, or (ii) cause any REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Additional Termination Requirements. (a) In the event the [Master Servicer Servicer] exercises its purchase option as provided in Section 9.019.1, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 9.3 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section 860F of the Code, or (ii) cause any REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:: 107
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Aegis Asset Backed Securities Corp)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.019.1, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has and MBIA have been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 9.3 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section 860F of the CodeCode on any REMIC created hereunder, or (ii) cause any REMIC created hereunder to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (First Horizon Asset Securities Inc)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.019.1, the Trust Fund and the REMIC created hereunder shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 9.3 will not (i) result in the imposition of taxes on "“prohibited transactions" ” on any the REMIC as defined in section Section 860F of the Code, or (ii) cause any the REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:: 100
Appears in 1 contract
Samples: Pooling and Servicing Agreement (First Horizon Asset Sec Mort Pass THR Certs Ser 2007-5)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.019.1, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 9.3 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section 860F of the CodeCode on any REMIC created hereunder, or (ii) cause any REMIC created hereunder to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (First Horizon Asset Securities Inc)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, all or such portion of the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on of any REMIC Trust REMIC, respectively as defined in section 860F of the Code, or (ii) cause any such Trust REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Master Adjustable Rate Mortgages Trust 2003-1)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "“prohibited transactions" ” on any REMIC created hereunder as defined in section 860F of the Code, or (ii) cause any REMIC created hereunder to fail to qualify as a REMIC at any time that any Certificates are outstanding:: 118
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Popular ABS Mortgage Pass-Through Trust 2006-E)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.019.1, the Trust Fund and the REMIC created hereunder shall be terminated in accordance with the following additional requirements, unless the Trustee has have been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 9.3 will not (i) result in the imposition of taxes on "prohibited transactions" on any the REMIC as defined in section Section 860F of the Code, or (ii) cause any the REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (First Horizon Asset Securities Inc)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01on the Mortgage Loans, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has and the Mortgage Pool Insurer have been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure of the Trust Fund to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section 860F of the Codea REMIC, or (ii) cause any REMIC created hereunder to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Cwabs Inc Asset-Backed Certificates Series 2003-S1)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any 105 REMIC as defined in section 860F of the Code, or (ii) cause any REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2007-Hy2)
Additional Termination Requirements. (a) In the event Upon exercise by the Master Servicer exercises of its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure of the Trust Fund to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section 860F of the Codea REMIC, or (ii) cause any a REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Sec Inc Asset Back Cert Ser 2000-2)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee and the Trust Administrator has been supplied with an Opinion of Counsel, at the expense of the Master Servicer, to the effect that the failure to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on "prohibited transactions" on any REMIC as defined in section 860F of the Code, or (ii) cause any REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Mastr Adjustable Rate Mortgages Trust 2001-1)
Additional Termination Requirements. (a) In the event the Master Servicer exercises its purchase option as provided in pursuant to Section 9.0110.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee has been supplied with received an Opinion of Counsel, at the expense of the Master Servicer, Counsel to the effect that the failure of the Trust Fund to comply with the requirements of this Section 9.03 will not (i) result in the imposition of taxes on a "prohibited transactionstransaction" on any REMIC of the Trust Fund, as defined described in section Section 860F of the Code, or (ii) cause any REMIC the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)
