Common use of Compliance with Code Clause in Contracts

Compliance with Code. The Grantor Trustee shall be authorized to and shall prepare and file and furnish to the Grantor Trust Holder, or cause to be prepared and filed and furnished, all federal, and if applicable, state and local income tax and information returns or reports relating to the Grantor Trust (including, without limitation, information with respect to interest or discount income, gain or loss with respect to the Home Loans and reinvestment income, gain or loss with respect to the Pre-Funding Account and the Collection Account) at the time and in the manner required by the Code. In connection with the filing of any such returns, the Grantor Trustee shall have the right to employ accountants and other personnel to assist in the preparation of such filings.

Compliance with Code. The Grantor Trustee shall be authorized to and shall prepare and file and furnish to the Grantor Trust Holder, or cause to be prepared and filed and furnished, all federal, and if applicable, state and local income tax and information returns or reports relating to the Grantor Trust (including, without limitation, information with respect to interest or discount income, gain or loss with respect to the Home Loans and reinvestment income, gain or loss with respect to the Pre-Funding Account and the Collection Account) at the time and in the manner required by the Code. In connection with the filing of any such returns, the Grantor Trustee shall have the right to employ accountants and other personnel to assist in the preparation of such filings.