Assignment of Excess Interest; Issuance of the Class Q Certificates. Concurrently with the assignment to the Trustee of the Excess Interest, and in exchange therefor, at the direction of the Depositor, the Trustee has executed, and caused the Certificate Registrar to authenticate and deliver, to or upon the order of the Depositor, the Class Q Certificates evidencing the entire beneficial ownership of the portion of the Trust Fund consisting of Excess Interest and the related portion of the Distribution Account, which portion shall be treated as a Grantor Trust Asset.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Gmac Commercial Mortgage Securities Inc), Pooling and Servicing Agreement (GMAC Commercial Mortgage Securities Inc. Series 2004-C2)
Assignment of Excess Interest; Issuance of the Class Q Certificates. Concurrently with the assignment to the Trustee of the Excess Interest, and in exchange therefor, at the direction of the Depositor, the Trustee has executed, and caused the Certificate Registrar to authenticate and deliver, to or upon the order of the Depositor, the Class Q Certificates evidencing the entire beneficial ownership of the portion of the Trust Fund consisting of Excess Interest and the related portion of the Distribution Account, which portion shall be treated as a Grantor Trust Q Asset.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (GMAC Commercial Mortgage Securities, Inc. Series 2005-C1 Trust), Pooling and Servicing Agreement (GMAC Commercial Mortgage Securities, Inc. Series 2005-C1 Trust)
