Common use of Appointment of Tax Matters Person Clause in Contracts

Appointment of Tax Matters Person. A Tax Matters Person will be appointed for each REMIC for all purposes of the Code and such Tax Matters Person will perform, or cause to be performed, such duties and take, or cause to be taken, such actions as are required to be performed or taken by the Tax Matters Person under the Code. The Tax Matters Person for each REMIC shall be ContiFunding Corporation as long as it owns a Class R-I, Class R-II or Class R Certificate. If ContiFunding Corporation does not own a Class R-I, Class R-II or Class R Certificate, as the case may be, the Tax Matters Person may be any other entity that owns such a Class R-I, Class R-II or Class R Certificate and accepts a designation hereunder as Tax Matters person by delivering an affidavit in the form of Exhibit I. ContiFunding Corporation shall notify the Trustee in writing of the name and address of another person who accepts a designation as Tax Matters Person hereunder.