Common use of Grantor Trust Designations Clause in Contracts

Grantor Trust Designations. The Class S Certificates are hereby designated as undivided beneficial interests in the portion of the Trust Fund consisting of Excess Interest, the Excess Interest Distribution Account and proceeds thereof, which portion shall be treated as a grantor trust within the meaning of subpart E, Part I of subchapter J of the Code. For the avoidance of doubt, this transaction has no Excess Interest and therefore there shall be no Grantor Trust as part of this transaction. [End of Article II]

Grantor Trust Designations. The Class S Certificates are hereby designated as undivided beneficial interests in the portion of the Trust Fund consisting of Excess Interest, the Excess Interest Distribution Account and proceeds thereof, which portion shall be treated as a grantor trust within the meaning of subpart E, Part I of subchapter J of the Code. For the avoidance of doubt, this transaction has no Excess Interest and therefore there shall be no Grantor Trust as part of this transaction. [End of Article II]

Grantor Trust Designations. The Class S Certificates are hereby designated as undivided beneficial interests in the portion of the Trust Fund consisting of Excess Interest, Interest and the Excess Interest Distribution Account and proceeds thereofAccount, which portion shall be treated as part of a grantor trust within the meaning of subpart E, Part I of subchapter J of the Code. For the avoidance of doubt, this transaction has no Excess Interest and therefore there shall be no Grantor Trust as part of this transaction. [End of Article II]