Designation of REMIC(s). The REMIC Administrator will make an election to treat the segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans), and subject to this Agreement, as a REMIC (REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions under the federal income tax law. The REMIC II Regular Interests will be the "regular interests" in REMIC II, ownership of which will be represented by the Class A, Class M, Class B and Class X Certificates and the Class R-II Certificates will represent the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions under federal income tax law. The Class P Certificates will not represent an interest in any REMIC.
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Samples: RALI Series 2007-Qh8 Trust, RALI Series 2007-Qh9 Trust, RALI Series 2007-Qh8 Trust
Designation of REMIC(s). The REMIC Administrator will make an election to treat the segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage LoansLoans but excluding the Initial Monthly Payment Fund), and subject to this Agreement, as a REMIC (REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests (and excluding the Initial Monthly Payment Fund), as a REMIC (REMIC II) for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I R Certificates will be the sole class of "residual interestsinterest" in REMIC I for purposes of the REMIC Provisions (as defined in the Standard Terms) under the federal income tax law. The REMIC II Regular Interests Class A-I-1, Class A-I-2, Class A-II-1, Class A-II-2, Class A-III-1, Class A-III-2, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates will be the "regular interests" in REMIC II, ownership of which will be represented by the Class A, Class M, Class B and Class X Certificates and the Class R-II R Certificates will represent ownership of the sole class of "residual interestsinterest" in REMIC II therein for purposes of the REMIC Provisions under federal income tax law. The Class P Certificates will not represent an interest in any REMICProvisions.
Appears in 2 contracts
Samples: RALI Series 2006-QA1Trust, RALI Series 2006-Qa2 Trust
Designation of REMIC(s). The REMIC Administrator will shall (a) make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) Trust Fund, and subject to this Agreement (including the Mortgage Loans), and subject to this Agreement, ) as a REMIC ("REMIC I"), (b) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting comprised of the REMIC I Regular Interests as a REMIC ("REMIC II"), and (c) make an election to treat the pool of assets comprised of the REMIC II Regular Interests as a REMIC ("REMIC III"), for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and Component I of the Class R-I R Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions under the federal income tax law. The REMIC II Regular Interests will be the "regular interests" in REMIC II, ownership II and Component II of which the Class R Certificates will be represented by the Class A, Class M, Class B and Class X Certificates and the Class R-II Certificates will represent the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions under the federal income tax law. The Class P A, Class M and Class B Certificates, will be "regular interests" in REMIC III, and Component III of the Class R Certificates will not represent an interest be the sole class of "residual interests" in any REMICREMIC III for purposes of the REMIC Provisions under federal income tax law.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (GMACM Mortgage Loan Trust 2006-Ar2)
Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) Trust Estate, and subject to this Agreement (including the Mortgage Loans), and subject to this Agreement, as set forth in Section 2.06 of the Trust Agreement ) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator and will make an election to treat the segregated pool of assets consisting comprised of the REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions under the federal income tax law. The REMIC II Regular Interests will be the "regular interests" in REMIC II, ownership of which will be represented by the Class A, Class M, Class B and Class X Certificates II and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The Class P Certificates will not represent an interest in any REMIC.[Signature Page Follows]
Appears in 1 contract
Samples: GMACM Mortgage Loan Trust 2004-Gh1
Designation of REMIC(s). The REMIC Administrator will make an election to treat the segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans), and subject to this Agreement, as a REMIC (REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC II Regular Interests will be the "regular interests" in REMIC II, ownership of which will be represented by the Class AA-1 Certificates, Class MA-2 Certificates, Class B M-1 Certificated, Class M-2 Certificates, Class M-3 Certificates and Class X Certificates SB Certificates, and the Class R-II Certificates will represent the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The Class P Certificates will not represent an interest in any REMIC.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (RALI Series 2005-Qa1 Trust)