Federal Income Tax Allocations. If the Trust Certificates are beneficially owned by more than one Person (and all such owners are not treated as the same Person for U.S. federal income tax purposes), for U.S. federal income tax purposes each item of income, gain, loss, credit and deduction for a month shall be allocated to the Certificateholders as of the first Record Date following the end of such month in proportion to their Certificate Percentage Interests on such Record Date. The Trust (or the Administrator in accordance with the Administration Agreement and Section 5.04) is authorized to (i) modify the allocations in this paragraph if necessary or appropriate, in its sole discretion, for the allocations to fairly reflect the economic income, gain or loss to the Certificateholders or otherwise comply with the requirements of the Code and (ii) determine whether or not to make any available elections such as an election under Section 1278 or 754 of the Code.
Appears in 16 contracts
Samples: Trust Agreement (Hyundai Auto Receivables Trust 2024-A), Trust Agreement (Hyundai Auto Receivables Trust 2024-A), Trust Agreement (Hyundai Auto Receivables Trust 2023-B)
Federal Income Tax Allocations. If the Trust Certificates are beneficially owned by more than one Person (and all such owners are not treated as the same Person for U.S. federal income tax purposes), for U.S. federal income tax purposes each item of income, gain, loss, credit and deduction for a month shall be allocated to the Certificateholders as of the first Record Date following the end of such month in proportion to their Certificate Percentage Interests on such Record Date. The Trust (or the Administrator in accordance with the Administration Agreement and Section 5.04) is authorized to (i) modify the allocations in this paragraph if necessary or appropriate, in its sole discretion, for the allocations to fairly reflect the economic income, gain or loss to the Certificateholders or otherwise comply with the requirements of the Code and (ii) determine whether or not to make any available elections such as an election under Section 1278 or 754 of the Code.. 5 (2022-B Amended and Restated Trust Agreement)
Appears in 2 contracts
Samples: Amended and Restated Trust Agreement (Hyundai Auto Receivables Trust 2022-B), Amended and Restated Trust Agreement (Hyundai Auto Receivables Trust 2022-B)
Federal Income Tax Allocations. If the Trust Certificates are beneficially owned by more than one Person (and all such owners are not treated as the same Person for U.S. federal income tax purposes), for U.S. federal income tax purposes each item of income, gain, loss, credit and deduction for a month shall be allocated to the Certificateholders as of the first Record Date following the end of such month in proportion to their Certificate Percentage Interests on such Record Date. The Trust (or the Administrator in accordance with the Administration Agreement and Section 5.04) is authorized to (i) modify the allocations in this paragraph if necessary or appropriate, in its sole discretion, for the allocations to fairly reflect the economic income, gain or loss to the Certificateholders or otherwise comply with the requirements of the Code and (ii) determine whether or not to make any available elections such as an election under Section 1278 or 754 of the Code.. 5 (2020-C Amended and Restated Trust Agreement)
Appears in 2 contracts
Samples: Trust Agreement (Hyundai Auto Receivables Trust 2020-C), Trust Agreement (Hyundai Auto Receivables Trust 2020-C)
Federal Income Tax Allocations. If the Trust Certificates are beneficially owned by more than one Person (and all such owners are not treated as the same Person for U.S. federal income tax purposes), for U.S. federal income tax purposes each item of income, gain, loss, credit and deduction for a month shall be allocated to the Certificateholders as of the first Record Date following the end of such month in proportion to their Certificate Percentage Interests on such Record Date. The Trust (or the Administrator in accordance with the Administration Agreement and Section 5.04) is authorized to (i) modify the allocations in this paragraph if necessary or appropriate, in its sole discretion, for the allocations to fairly reflect the economic income, gain or loss to the Certificateholders or otherwise comply with the requirements of the Code and (ii) determine whether or not to make any available elections such as an election under Section 1278 or 754 of the Code.. 5 (2017-B Amended and Restated Trust Agreement)
Appears in 2 contracts
Samples: Trust Agreement (Hyundai Auto Receivables Trust 2017-B), Trust Agreement (Hyundai Auto Receivables Trust 2017-B)
Federal Income Tax Allocations. If the Trust Certificates are beneficially owned by more than one Person (and all such owners are not treated as the same Person for U.S. federal income tax purposes), for U.S. federal income tax purposes each item of income, gain, loss, credit and deduction for a month shall be allocated to the Certificateholders as of the first Record Date following the end of such month in proportion to their Certificate Percentage Interests on such Record Date. The Trust (or the Administrator in accordance with the Administration Agreement and Section 5.04) is authorized to (i) modify the allocations in this paragraph if necessary or appropriate, in its sole discretion, for the allocations to fairly reflect the economic income, gain or loss to the Certificateholders or otherwise comply with the requirements of the Code and (ii) determine whether or not to make any available elections such as an election under Section 1278 or 754 of the Code.. 5 (2023-A Amended and Restated Trust Agreement)
Appears in 2 contracts
Samples: Trust Agreement (Hyundai Auto Receivables Trust 2023-A), Trust Agreement (Hyundai Auto Receivables Trust 2023-A)
Federal Income Tax Allocations. If the Trust Certificates are beneficially owned by more than one Person (and all such owners are not treated as the same Person for U.S. federal income tax purposes), for U.S. federal income tax purposes each item of income, gain, loss, credit and deduction for a month shall be allocated to the Certificateholders as of the first Record Date following the end of such month in proportion to their Certificate Percentage Interests on such Record Date. The Trust (or the Administrator in accordance with the Administration Agreement and Section 5.04) is authorized to (i) modify the allocations in this paragraph if necessary or appropriate, in its sole discretion, for the allocations to fairly reflect the economic income, gain or loss to the Certificateholders or otherwise comply with the requirements of the Code and (ii) determine whether or not to make any available elections such as an election under Section 1278 or 754 of the Code.. 5 (2020-B Amended and Restated Trust Agreement)
Appears in 2 contracts
Samples: Trust Agreement (Hyundai Auto Receivables Trust 2020-B), Trust Agreement (Hyundai Auto Receivables Trust 2020-B)
Federal Income Tax Allocations. If the Trust Certificates are beneficially owned by more than one Person (and all such owners are not treated as the same Person for U.S. federal income tax purposes), for U.S. federal income tax purposes each item of income, gain, loss, credit and deduction for a month shall be allocated to the Certificateholders as of the first Record Date following the end of such month in proportion to their Certificate Percentage Interests on such Record Date. The Trust (or the Administrator in accordance with the Administration Agreement and Section 5.04) is authorized to (i) modify the allocations in this paragraph if necessary or appropriate, in its sole discretion, for the allocations to fairly reflect the economic income, gain or loss to the Certificateholders or otherwise comply with the requirements of the Code and (ii) determine whether or not to make any available elections such as an election under Section 1278 or 754 of the Code.. 5 (2024-B Amended and Restated Trust Agreement)
Appears in 2 contracts
Samples: Trust Agreement (Hyundai Auto Receivables Trust 2024-B), Trust Agreement (Hyundai Auto Receivables Trust 2024-B)
Federal Income Tax Allocations. If the Trust Certificates are beneficially owned by more than one Person (and all such owners are not treated as the same Person for U.S. federal income tax purposes), for U.S. federal income tax purposes each item of income, gain, loss, credit and deduction for a month shall be allocated to the Certificateholders as of the first Record Date following the end of such month in proportion to their Certificate Percentage Interests on such Record Date. The Trust (or the Administrator in accordance with the Administration Agreement and Section 5.04) is authorized to (i) modify the allocations in this paragraph if necessary or appropriate, in its sole discretion, for the allocations to fairly reflect the economic income, gain or loss to the Certificateholders or otherwise comply with the requirements of the Code and (ii) determine whether or not to make any available elections such as an election under Section 1278 or 754 of the Code.. 5 (2020-A Amended and Restated Trust Agreement)
Appears in 2 contracts
Samples: Trust Agreement (Hyundai Auto Receivables Trust 2020-A), Trust Agreement (Hyundai Auto Receivables Trust 2020-A)
Federal Income Tax Allocations. If the Trust Certificates are beneficially owned by more than one Person (and all such owners are not treated as the same Person for U.S. federal income tax purposes), for U.S. federal income tax purposes each item of income, gain, loss, credit and deduction for a month shall be allocated to the Certificateholders as of the first Record Date following the end of such month in proportion to their Certificate Percentage Interests on such Record Date. The Trust (or the Administrator in accordance with the Administration Agreement and Section 5.04) is authorized to (i) modify the allocations in this paragraph if necessary or appropriate, in its sole discretion, for the allocations to fairly reflect the economic income, gain or loss to the Certificateholders or otherwise comply with the requirements of the Code and (ii) determine whether or not to make any available elections such as an election under Section 1278 or 754 of the Code.. 5 (2018-A Amended and Restated Trust Agreement)
Appears in 2 contracts
Samples: Trust Agreement (Hyundai Abs Funding LLC), Trust Agreement (Hyundai Auto Receivables Trust 2018-A)
Federal Income Tax Allocations. If the Trust Certificates are beneficially owned by more than one Person (and all such owners are not treated as the same Person for U.S. federal income tax purposes), for U.S. federal income tax purposes each item of income, gain, loss, credit and deduction for a month shall be allocated to the Certificateholders as of the first Record Date following the end of such month in proportion to their Certificate Percentage Interests on such Record Date. The Trust (or the Administrator in accordance with the Administration Agreement and Section 5.04) is authorized to (i) modify the allocations in this paragraph if necessary or appropriate, in its sole discretion, for the allocations to fairly reflect the economic income, gain or loss to the Certificateholders or otherwise comply with the requirements of the Code and (ii) determine whether or not to make any available elections such as an election under Section 1278 or 754 of the Code.. 5 (2023-C Amended and Restated Trust Agreement)
Appears in 2 contracts
Samples: Trust Agreement (Hyundai Auto Receivables Trust 2023-C), Trust Agreement (Hyundai Auto Receivables Trust 2023-C)
Federal Income Tax Allocations. If the Trust Certificates are beneficially owned by more than one Person (and all such owners are not treated as the same Person for U.S. federal income tax purposes), for U.S. federal income tax purposes each item of income, gain, loss, credit and deduction for a month shall be allocated to the Certificateholders as of the first Record Date following the end of such month in proportion to their Certificate Percentage Interests on such Record Date. The Trust (or the Administrator in accordance with the Administration Agreement and Section 5.04) is authorized to (i) modify the allocations in this paragraph if necessary or appropriate, in its sole discretion, for the allocations to fairly reflect the economic income, gain or loss to the Certificateholders or otherwise comply with the requirements of the Code and (ii) determine whether or not to make any available elections such as an election under Section 1278 or 754 of the Code.. 5 (2019-B Amended and Restated Trust Agreement)
Appears in 2 contracts
Samples: Trust Agreement (Hyundai Abs Funding LLC), Trust Agreement (Hyundai Abs Funding LLC)
Federal Income Tax Allocations. If the Trust Certificates are beneficially owned by more than one Person (and all such owners are not treated as the same Person for U.S. federal income tax purposes), for U.S. federal income tax purposes each item of income, gain, loss, credit and deduction for a month shall be allocated to the Certificateholders as of the first Record Date following the end of such month in proportion to their Certificate Percentage Interests on such Record Date. The Trust (or the Administrator in accordance with the Administration Agreement and Section 5.04) is authorized to (i) modify the allocations in this paragraph if necessary or appropriate, in its sole discretion, for the allocations to fairly reflect the economic income, gain or loss to the Certificateholders or otherwise comply with the requirements of the Code and (ii) determine whether or not to make any available elections such as an election under Section 1278 or 754 of the Code.. 5 (2017-A Amended and Restated Trust Agreement)
Appears in 2 contracts
Samples: Trust Agreement (Hyundai Abs Funding LLC), Trust Agreement (Hyundai Auto Receivables Trust 2017-A)
Federal Income Tax Allocations. If the Trust Certificates are beneficially owned by more than one Person (and all such owners are not treated as the same Person for U.S. federal income tax purposes), for U.S. federal income tax purposes each item of income, gain, loss, credit and deduction for a month shall be allocated to the Certificateholders as of the first Record Date following the end of such month in proportion to their Certificate Percentage Interests on such Record Date. The Trust (or the Administrator in accordance with the Administration Agreement and Section 5.04) is authorized to (i) modify the allocations in this paragraph if necessary or appropriate, in its sole discretion, for the allocations to fairly reflect the economic income, gain or loss to the Certificateholders or otherwise comply with the requirements of the Code and (ii) determine whether or not to make any available elections such as an election under Section 1278 or 754 of the Code.. 5 (2018-B Amended and Restated Trust Agreement)
Appears in 2 contracts
Samples: Trust Agreement (Hyundai Auto Receivables Trust 2018-B), Trust Agreement (Hyundai Auto Receivables Trust 2018-B)
Federal Income Tax Allocations. If the Trust Certificates are beneficially owned by more than one Person (and all such owners are not treated as the same Person for U.S. federal income tax purposes), for U.S. federal income tax purposes each item of income, gain, loss, credit and deduction for a month shall be allocated to the Certificateholders as of the first Record Date following the end of such month in proportion to their Certificate Percentage Interests on such Record Date. The Trust (or the Administrator in accordance with the Administration Agreement and Section 5.04) is authorized to (i) modify the allocations in this paragraph if necessary or appropriate, in its sole discretion, for the allocations to fairly reflect the economic income, gain or loss to the Certificateholders or otherwise comply with the requirements of the Code and (ii) determine whether or not to make any available elections such as an election under Section 1278 or 754 of the Code.. 5 (2022-A Amended and Restated Trust Agreement)
Appears in 1 contract
Samples: Trust Agreement (Hyundai Auto Receivables Trust 2022-A)
Federal Income Tax Allocations. If the Trust Certificates are beneficially owned by more than one Person (and all such owners are not treated as the same Person for U.S. federal income tax purposes), for U.S. federal income tax purposes each item of income, gain, loss, credit and deduction for a month shall be allocated to the Certificateholders as of the first Record Date following the end of such month in proportion to their Certificate Percentage Interests on such Record Date. The Trust (or the Administrator in accordance with the Administration Agreement and Section 5.04) is authorized to (i) modify the allocations in this paragraph if necessary or appropriate, in its sole discretion, for the allocations to fairly reflect the economic income, gain or loss to the Certificateholders or otherwise comply with the requirements of the Code and (ii) determine whether or not to make any available elections such as an election under Section 1278 or 754 of the Code.. 5 (2022-C Amended and Restated Trust Agreement)
Appears in 1 contract
Samples: Trust Agreement (Hyundai Auto Receivables Trust 2022-C)