Following the Startup Day, neither. the Servicer nor the Trustee shall accept any contributions of assets to either REMIC created hereunder unless (subject to Section 10.01(f)) the Servicer and the Trustee shall have received an Opinion of Counsel (at the expense of the party seeking to make such contribution) to the effect that the inclusion of such assets in such REMIC will not cause either REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding or subject either REMIC to any tax under the REMIC Provisions or other applicable provisions of federal, state and local law or ordinances.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Residential Asset Mor Pro Inc Gmacm Mo Pass Th Ce Se 2006 J6), Pooling and Servicing Agreement (Residential Asset Mortgage Products Gmacm Trust 2004-J1), Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc)
Following the Startup Day, neither. the Master Servicer nor the Trustee shall accept any contributions of assets to either the REMIC created hereunder unless (subject to Section 10.01(f)) the Master Servicer and the Trustee shall have received an Opinion of Counsel (at the expense of the party seeking to make such contribution) to the effect that the inclusion of such assets in such the REMIC will not cause either the REMIC to fail to qualify as a REMIC REMICs at any time that any Certificates are outstanding or subject either the REMIC to any tax under the REMIC Provisions or other applicable provisions of federal, state and local law or ordinances.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
