Benefit Plan Opinion. An Opinion of Counsel satisfactory to the Trustee to the effect that any proposed transfer will not (i) cause the assets of the Trust Fund to be regarded as plan assets for purposes of the Plan Asset Regulations or (ii) give rise to any fiduciary duty on the part of the Depositor or the Trustee.
Benefit Plan Opinion. An Opinion of Counsel satisfactory to the Depositor and the Trustee to the effect that any proposed transfer of Certificates will not (i) cause the assets of the Trust Fund to be regarded as plan assets for purposes of the Plan Asset Regulations or (ii) give rise to any fiduciary duty on the part of the Depositor or the Trustee, respectively. Book-Entry Certificates: Beneficial interests in Certificates designated as “Book-Entry Certificates” in this Agreement, ownership and transfers of which shall be evidenced or made through book entries by a Clearing Agency as described in Section 3.09; provided, that after the occurrence of a condition whereupon book-entry registration and transfer are no longer permitted and Definitive Certificates are to be issued to Certificate Owners, such Book-Entry Certificates shall no longer be “Book-Entry Certificates.” As of the Closing Date, each Class of LIBOR Certificates constitutes Book-Entry Certificates.
Benefit Plan Opinion. Not applicable.
Benefit Plan Opinion. An Opinion of Counsel satisfactory to the Depositor and the Trustee to the effect that any proposed transfer of Certificates will not (i) cause the assets of the Trust Fund to be regarded as plan assets for purposes of the Plan Asset Regulations or (ii) give rise to any fiduciary duty on the part of the Depositor or the Trustee, respectively. Book-Entry Certificates: Beneficial interests in Certificates designated as “Book-Entry Certificates” in this Agreement, ownership and transfers of which shall be evidenced or made through book entries by a Clearing Agency as described in Section 3.09; provided, that after the occurrence of a condition whereupon book-entry registration and transfer are no longer permitted and Definitive Certificates are to be issued to Certificate Owners, such Book-Entry Certificates shall no longer be “Book-Entry Certificates.” As of the Closing Date, the following Classes of Certificates constitute Book-Entry Certificates: the Class A1, Class A2, Class A3, Class A-IO, Class A-SIO, Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7 and Class B Certificates.
Benefit Plan Opinion. 6 Book-Entry Certificates........................................................................6
Benefit Plan Opinion. An Opinion of Counsel satisfactory to the Trustee to the effect that any proposed transfer will not (i) cause the assets of the Trust Fund to be regarded as “plan assets” for purposes of the Plan Asset Regulations or (ii) give rise to any fiduciary duty on the part of the Depositor or the Trustee. Book-Entry Certificates: Beneficial interests in Certificates designated as “Book-Entry Certificates” in this Agreement, ownership and transfers of which shall be evidenced or made through book entries by a Clearing Agency as described in Section 3.09; provided, that after the occurrence of a condition whereupon book-entry registration and transfer are no longer permitted and Definitive Certificates are to be issued to Certificate Owners, such Book-Entry Certificates shall no longer be “Book-Entry Certificates.” As of the Closing Date, each Class of Offered Certificates constitutes Book-Entry Certificates.
Benefit Plan Opinion. An Opinion of Counsel satisfactory to the Certificate Registrar, the Depositor and the Trustee to the effect that any proposed transfer will not (i) cause the assets of the Trust Fund to be regarded as plan assets for purposes of the Plan Asset Regulations or (ii) give rise to any fiduciary duty on the part of the Depositor or the Trustee. Book-Entry Certificates: Beneficial interests in Certificates designated as “Book-Entry Certificates” in this Agreement, ownership and transfers of which shall be evidenced or made through book entries by a Clearing Agency as described in Section 3.09; provided, that after the occurrence of a Book-Entry Termination whereupon book-entry registration and transfer are no longer permitted and Definitive Certificates are to be issued to Certificate Owners, such Book-Entry Certificates shall no longer be “Book-Entry Certificates.” As of the Closing Date, the following Classes of Certificates constitute Book-Entry Certificates: Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Class A-10, Class A-11, Class A-X-1, Class A-X-2, Class A-X-3, Class A-X-4, Class A-X-5, Class A-X-6, Class A-X-7, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates.
Benefit Plan Opinion. An Opinion of Counsel satisfactory to the Master -------------------- Servicer and the Trustee (and upon which the Master Servicer and the Trustee are authorized to rely) to the effect that the proposed Transfer will not (i) cause the assets of the Trust to be regarded as "plan assets" under the Plan Asset Regulations and thereby subject to the prohibited transaction provisions of ERISA or the Code, or (ii) give rise to any obligation (including any fiduciary duty) under ERISA or the Code on the part of the Master Servicer or the Trustee other than those expressly assumed in the Agreement.
Benefit Plan Opinion. An Opinion of Counsel to the effect that a proposed transfer of a Certificate will not (a) cause any of the assets of the Trust to be regarded as "plan assets" for purposes of the Plan Asset Regulations, (b) give rise to any fiduciary duty under ERISA on the part of the Depositor, the Trustee or the Trust's Tax Matters Person, if any, or (c) be treated as, or result in, a "prohibited transaction" under section 406 or section 407 of ERISA or under section 4975 of the Code. The cost of obtaining a Benefit Plan Opinion shall not be borne by the Depositor or the Trustee.
Benefit Plan Opinion. An Opinion of Counsel satisfactory to the Trustee to the effect that any proposed transfer will not (i) cause the assets of the Trust Fund to be regarded as plan assets for purposes of the Plan Asset Regulations or (ii) give rise to any fiduciary duty on the part of the Depositor or the Trustee. Book-Entry Certificates: Beneficial interests in Certificates designated as “Book Entry Certificates” in this Agreement, ownership and transfers of which shall be evidenced or made through book entries by a Clearing Agency as described in Section 3.09; provided, that after the occurrence of a condition whereupon book entry registration and transfer are no longer permitted and Definitive Certificates are to be issued to Certificate Owners, such Book Entry Certificates shall no longer be “Book Entry Certificates.” As of the Closing Date, the following Classes of Certificates constitute Book-Entry Certificates: the Class 1-A1, Class 1-A2, Class 2-A, Class M1, Class M2-A, Class M2-B, Class M3, Class M4, Class M5 and Class B Certificates. Bulk PMI Policy: Each of (i) the MGIC Mortgage Guaranty Master Policy (No. 12-670-4-3167), including Terms and Conditions No. 71-7135 (8/94) and Endorsements No. 71-70192 (8/01) and No. 71-70 201 (10/01) dated May 1, 2003, and the Terms Letter for MGIC Mortgage Insurance Coverage or Additional Coverage dated May 27, 2003 among Xxxxxx Brothers Inc., MGIC and the Trustee and the Commitment Certificates covering $96.1 million aggregate principal balance of insurable Mortgage Loans; and (ii) the Radian Guaranty Inc. Master Policy and related Terms Letter Agreement dated May 30, 2003 (ID No. 03-998036/SAIL 2003-BC5) between Radian and Xxxxxx Brothers Inc. Business Day: Any day other than (i) a Saturday or a Sunday, (ii) a day on which banking institutions in New York, New York or, if other than New York, the city in which the Corporate Trust Office of the Trustee is located, or the States of Illinois, Maryland, Minnesota or Colorado are closed, or (iii) with respect to any Servicer Remittance Date or any Servicer reporting date, the States specified in the definition of “Business Day” in the related Servicing Agreement, are authorized or obligated by law or executive order to be closed. Cap Agreement: The Interest Rate Cap Agreement dated as of May 28, 2003, entered into between the Trustee on behalf of the Trust Fund (for the benefit of Certificateholders), in the case of the Basis Risk Cap, and on behalf of the holder of the Class X Certi...
