Contribution of Assets. Except as provided in Section 3.05(b) and so much of Section 3.05 (a) as does not relate to a deposit in lieu of repurchase of a Contract the principal balance of which is incorrectly set forth on the Contract Schedule, following the Closing Date, the Trustee shall not accept any contribution of additional assets to the Trust Fund unless the Company has delivered an Opinion of Counsel addressed to the Trustee to the effect that (i) the contribution of such assets into the Trust Fund will not cause the Trust Fund to fail to qualify as a REMIC so long as any Certificate is outstanding and (ii) such contribution will not cause the imposition of tax on contributions to the Trust Fund after the "start-up day" (as defined in Section 860G of the Code) with respect thereto.
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (Vanderbilt Mort & Fin Inc MFR HSG Sr Sub Pa Th Ce Sr 1998c), Pooling and Servicing Agreement (Vanderbilt Mort & Finance Pass Through Cert Series 1999b), Pooling and Servicing Agreement (Vanderbilt Mort & Fin Inc Sen Sub Pas THR Cert Ser 1999c)
Contribution of Assets. Except as provided in Section 3.05(b) and so much of Section 3.05
(a) as does not relate to a deposit in lieu of repurchase of a Contract the principal balance of which is incorrectly set forth on the Contract Schedule, following the Closing Date, the Trustee shall not accept any contribution of additional assets to the Trust Fund unless the Company Vanderbilt has delivered an Opinion of Counsel addressed to the Trustee to the effect that (i) the contribution of such assets into the Trust Fund will not cause the Trust Fund to fail to qualify as a REMIC so long as any Certificate is outstanding and (ii) such contribution will not cause the imposition of tax on contributions to the Trust Fund after the "start-up day" (as defined in Section 860G of the Code) with respect thereto.
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (Vanderbilt Mort & Fin Inc Senior Sub Pas THR Cert Ser 2002 A), Pooling and Servicing Agreement (Senior Subordinate Pass Through Cert Series 2003-A), Pooling and Servicing Agreement (Vanderbilt Mortgage & Fin Inc Sen Sub Pa Th Cert Ser 2002-1)
Contribution of Assets. Except as provided in Section ---------------------- 3.05(b) and so much of Section 3.05
(a) as does not relate to a deposit in lieu of repurchase of a Contract the principal balance of which is incorrectly set forth on the Contract Schedule, following the Closing Date, the Trustee shall not accept any contribution of additional assets to the Trust Fund unless the Company has delivered an Opinion of Counsel addressed to the Trustee to the effect that (i) the contribution of such assets into the Trust Fund will not cause the Trust Fund to fail to qualify as a REMIC so long as any Certificate is outstanding and (ii) such contribution will not cause the imposition of tax on contributions to the Trust Fund after the "start-up day" (as defined in Section 860G of the Code) with respect thereto.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Vanderbilt Mort & Fin Inc Man Ho Co Se Su Pa Th Ce Se 1998a), Pooling and Servicing Agreement (Vanderbilt Mort & Fin Inc Sen Sub Pass THR Cert Ser 2000-D), Pooling and Servicing Agreement (Vanderbilt Mort & Fin Inc Pass Throu Cert Ser 1998b)
