Miscellaneous REMIC Provisions Clause Samples

Miscellaneous REMIC Provisions. (a) The Startup Day is hereby designated as the “startup day” of each REMIC created hereunder within the meaning of Section 860G(a)(9) of the Code. (b) The Owner of the Tax Matters Person Residual Interest in each REMIC created hereunder is hereby designated as “tax matters person” as defined in the REMIC Provisions with respect to the REMIC. (c) The Trust and each REMIC created hereunder shall, for federal income tax purposes, maintain books on a calendar year basis and report income on an accrual basis. (d) The Trustee shall cause each REMIC created hereunder to elect to be treated as a REMIC under Section 860D of the Code. Any inconsistencies or ambiguities in this Agreement or in the administration of the Trust shall be resolved in a manner that preserves the validity of such election to be treated as a REMIC. The Trustee shall report all expenses of the Trust Estate to each REMIC created hereunder. (e) For all federal tax law purposes, amounts transferred by the Trustee to the Owners of the Class R Certificates shall be treated as distributions by each respective REMIC created hereunder. (f) The Trustee shall provide to the Internal Revenue Service and to the person described in Section 860E(e)(3) and (6) of the Code the information described in Treasury Regulation Section 1.860D-1(b)(5)(ii), or any successor regulation thereto with respect to each REMIC created hereunder. Such information will be provided in the manner described in Treasury Regulation Section 1.860E-2(a)(5), or any successor regulation thereto.

Miscellaneous REMIC Provisions. (a) The Class ___, Class ___, Class ___, Class ___, Class ___, Class ___, Class ___, Class ___, Class ___ and Class ___ Interests are hereby designated as "regular interests" in the Lower-Tier REMIC within the meaning of Section 860G(a)(1) of the Code, and the Class __ Certificates are hereby designated as the sole class of "residual interests" in the Lower-Tier REMIC within the meaning of Section 860G(a)(2) of the Code. The Class ___, Class ___, Class ___, Class __, Class __, Class __, Class __, Class __, Class __, Class __, Class ___ and Class ___ Certificates are hereby designated as "regular interests" in the Upper-Tier REMIC within the meaning of Section 860G(a)(1) of the Code and the Class __ Certificates are hereby designated as the sole class of "residual interests" in the Upper-Tier REMIC within the meaning of Section 860G(a)(2) of the Code. The Closing Date is hereby designated as the "Startup Day" of the Lower-Tier REMIC and the Upper-Tier REMIC within the meaning of Section 860G(a)(9) of the Code. The "latest possible maturity date" of the Lower-Tier Regular Interests and the Regular Certificates for purposes of Code Section 860G(a)(1) is the Scheduled Final Distribution Date. The initial Certificate Balance of each Class of Lower-Tier Regular Interests is equal to the Certificate Balance of the Related Class of Certificates. The pass-through rate of each Class of Lower- Tier Regular Interests is a per annum rate equal to the Lower-Tier Pass-Through Rate. (b) None of the Mortgage Loan Seller, Depositor, Trustee or Servicer shall enter into any arrangement by which the Trust Fund will receive a fee or other compensation for services other than as specifically contemplated herein.

Miscellaneous REMIC Provisions. (a) The Class A, Class B and Class VRR Certificates and the Uncertificated VRR Interest are hereby designated as the “regular interests” in the Upper-Tier REMIC within the meaning of Section 860G(a)(1) of the Code, and the Class UT-R Interest is hereby designated as the sole class of “residual interests” in the Upper-Tier REMIC within the meaning of Section 860G(a)(2) of the Code. (b) The Class LA, Class LB, Class LVRR and LUVRR Uncertificated Interests are hereby designated as the “regular interests” in the Lower-Tier REMIC within the meaning of Section 860G(a)(1) of the Code, and the Class LT-R Interest is hereby designated as the sole class of “residual interests” in the Lower-Tier REMIC within the meaning of Section 860G(a)(2) of the Code.

Miscellaneous REMIC Provisions. (i) The Trustee shall elect that REMIC I, REMIC II, and REMIC III shall be treated as REMICs under Section 860D of the Code, as described in Section 9.11. Any inconsistencies or ambiguities in this Agreement or in the administration of the Trust shall be resolved in a manner that preserves the validity of such REMIC elections. (ii) REMIC I will be evidenced by (y) (A) the Class LT-FM, Class LT-A1F, Class LT-A2F, Class LT-A3F, Class LT-A4F, Class LT-A5F, Class LT-A6F, Class LT-M1F, Class LT-M2F, and Class LT-B1F (the "LTF Regular Interests"), and (B) the Class LT-A1A, Class LT-A2A and Class LT-AM (the "LTA Regular Interests", and, together with the LTF Regular Interests, the "REMIC I Regular Interests"), which will be uncertificated and non-transferable and are hereby designated at the "regular interests" in REMIC I, and (2) the Class R-1 Certificate, which is hereby designated as the single "residual interest" in REMIC I (the "REMIC I Regular Interests" and, together with the Class R-1 Certificate, the "REMIC I Interests"). The REMIC I Regular Interests shall be recorded on the records of REMIC I as being issued to and held by the Trustee on behalf of REMIC II. (iii) REMIC II will be evidenced by (y) (A) the Class MT-FM, Class MT-A1F, Class MT-A2F, Class MT-A3F, Class MT-A4F, Class MT-A5F, Class MT-A6F, Class MT-M1F, Class MT-M2F, Class MT-B1F and Class MT-FI0 (the "MTF Regular Interests") and (ii) the Class MT-AM, Class MT-A1A, Class MT-A2A and Class MT-AIO Certificates (the "MTA Regular Interests" and together with the MTF Regular Interests, the "REMIC II Regular Interests"), which will be uncertificated and non-transferable and are hereby designated as the "regular interests" in REMIC II, and (2) the Class R-2 Certificate, which is hereby designated as the single "residual interest" in REMIC II (the "REMIC II Regular Interests and, together with the Class R-2 Certificate, the "REMIC II Interests"). The REMIC II Regular Interests shall be recorded on the records of REMIC II as being issued to and held by the Trustee on behalf of REMIC III. (iv) The Class A-1F, ▇▇▇▇▇ ▇-▇▇, ▇▇▇▇▇ ▇-▇▇, ▇▇ass A-4F, ▇▇▇▇▇ ▇-▇▇, ▇▇▇▇▇ ▇-▇▇, ▇▇ass M-1F, Class M-2F, Class B-1F, Class A-1A, Class A-2A and Class C Certificates, consisting of two components (the Class C-F Component and the Class C-A Component as defined in clause (vii) below), are hereby designated as "regular interests" with respect to the REMIC III and the Class R-III Certificate is hereby designated as the sing...

Miscellaneous REMIC Provisions. (a) The Trustee shall elect that each of the Lower-Tier REMIC and the Upper-Tier REMIC shall be treated as a REMIC under Section 860D of the Code. Any inconsistencies or ambiguities in this Agreement or in the administration of this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. The assets of the Lower-Tier REMIC shall include the Mortgage Loans, the Accounts (except for the Non-REMIC Estate), any REO Property, and any proceeds of the foregoing. The Lower-Tier REMIC Regular Interests (as defined below) shall constitute the assets of the Upper-Tier REMIC. (b) The Lower-Tier REMIC will be evidenced by (x) Lower-Tier Interest 1, Lower-Tier Interest 2, Lower-Tier Interest 3, Lower-Tier Interest 4, and Lower-Tier Interest 5 (the "Lower-Tier REMIC Regular Interests"), which will be uncertificated and non-transferable and are hereby designated as the "regular interests" in the Lower-Tier REMIC and (y) the Lower-Tier REMIC Residual Interest, which is hereby designated as the single "residual interest" in the Lower-Tier REMIC (the Lower-Tier REMIC Regular Interests, together with the Lower-Tier REMIC Residual Interest, the "Lower-Tier REMIC Interests"). The Lower-Tier REMIC Regular Interests shall be recorded on the records of the Lower-Tier REMIC as being issued to and held by the Trustee on behalf of the Upper-Tier REMIC.

Miscellaneous REMIC Provisions. (a) The beneficial ownership interest in the Lower-Tier REMIC shall be evidenced by the interests having the characteristics and terms as follows, including for federal income tax purposes the month in which the Final Scheduled Payment Dates occur: (1) Lower-Tier Interest A-2 (1) Lower-Tier Interest A-3 (1) Lower-Tier Interest A-4 (1) Lower-Tier Interest A-5 (1) Lower-Tier Interest A-6 (1) Lower-Tier Interest A-7 (2) Lower-Tier Interest A-8 (2) Lower-Tier Interest M-1F (1) Lower-Tier Interest M-1A (2) Lower-Tier Interest M-2F (1) Lower-Tier Interest M-2A (2) Lower-Tier Interest B-1F (1) Lower-Tier Interest B-1A (2) Lower-Tier REMIC Residual Class (3) (1) On any Payment Date, the Group I Net Weighted Average Coupon Rate. (2) On any Payment Date, the Group II Net Weighted Average Coupon Rate. (3) The Lower-Tier REMIC Residual Class is not issued with a Lower-Tier Balance or a Lower-Tier Pass-Through Rate. (b) The Lower-Tier Interests ▇-▇, ▇-▇, ▇-▇, ▇-▇, ▇-▇, ▇-▇, ▇-▇, ▇-▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, M- 2A, B-1F and B-1A Certificates shall be issued as non-certificated interests. The Lower-Tier REMIC Residual Class shall be issued from the Lower-Tier REMIC as a non-certificated interest. (c) The Depositor hereby designates Lower-Tier Interest ▇-▇, ▇▇▇▇▇-▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇-▇, ▇▇▇▇▇-▇▇▇▇ Interest ▇-▇, ▇▇▇▇▇-▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇-▇, ▇▇▇▇▇-▇▇▇▇ Interest A-5, Lower-Tier Interest ▇-▇, ▇▇▇▇▇-▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇-▇, ▇▇▇▇▇-▇▇▇▇ Interest ▇-▇, ▇▇▇▇▇-▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇-▇▇, Lower-Tier Interest M-1A, Lower-Tier Interest ▇-▇▇, ▇▇▇▇▇-▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇-▇▇, ▇▇▇▇▇-▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇-▇▇ and Lower-Tier Interest B-2A as "regular interests" and the Lower-Tier REMIC Residual Class as the single class of "residual interests" in the Lower-Tier REMIC for purposes of the REMIC Provisions. (d) The Depositor hereby designates the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class M-1F, Class M-1A, Class M-2F, Class M-2A, Class B-1F, Class B- 1A, Class C-FIO, Class C-AIO, Class D and Class S as "regular interests," and the Class R Certificates as the single class of "residual interests" in the Upper-Tier REMIC for purposes of the REMIC Provisions. The Depositor hereby designates the Lower-Tier Interest A-1, the Lower-Tier Interest A-2, the Lower-Tier Interest A-3, the Lower-Tier Interest A-4, the Lower-Tier Interest A-5, the Lower-Tier Interest A-6, the Lower-Tier Interest ▇-▇, ▇▇▇▇▇-▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇-▇, ▇▇▇▇▇-▇▇▇▇ Interest M-1F, Lower-Tier Interest ▇-▇▇, ▇▇▇▇▇-▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇-▇▇...

Miscellaneous REMIC Provisions. (a) The Trust (other than the Pre-Funding Account, the Group II Available Funds Cap Carry-Forward Amount Account and the Capitalized Interest Account) shall elect to be treated as a REMIC under Section 860D of the Code, as described in Section 11.15. Any inconsistencies or ambiguities in this Agreement or in the administration of the Trust shall be resolved in a manner that preserves the validity of the election of the Trust (other than the Pre-Funding Account and the Capitalized Interest Account) to be treated as a REMIC. (b) The Class A Certificates are hereby designated as "regular interests" in the REMIC and the Class R Certificates are hereby designated as the "residual interest" in the REMIC, as defined in Section 860G(a) of the Code. (c) The Startup Day is hereby designated as the "startup day" of the REMIC within the meaning of Section 860G(a)(9) of the Code. (d) The final scheduled Payment Date for any Class of Certificates is hereby set to be the Payment Date succeeding by one year the latest maturity date of any Mortgage Loan in the related Mortgage Loan Group, as follows:

Miscellaneous REMIC Provisions. (a) The Trust for federal income tax purposes will consist of two REMICs. The assets of the Subsidiary REMIC will consist of all of the assets constituting the Trust Estate. The Subsidiary REMIC will issue classes of interests which will be the Subsidiary REMIC Regular Interests (which will be uncertificated and will represent the "regular interests" in the Subsidiary REMIC) and the SR Interest, which will be the sole class of "residual interests" in the Subsidiary REMIC. The Trustee will hold the Subsidiary REMIC Regular Interests in trust for the benefit of the Master REMIC. The assets of the Master REMIC will consist of the Subsidiary REMIC Regular Interests. The Master REMIC will issue the Class A-1, Class A-2, Class X-1 and Class X-2 Certificates (which will represent the "regular interests" in the Master REMIC) and the MR Interest, which will be the sole class of "residual interests" in the Master REMIC. The Class R Certificates will represent beneficial ownership of the SR Interest and the MR Interest. The Owner of the Class R Certificate representing the Tax Matters Person Residual Interest Percentage is hereby designated as "tax matters person" as defined in the REMIC Provisions with respect to each of the Master REMIC and the Subsidiary REMIC. (b) The Trustee shall, for federal income tax purposes, maintain books for each of the Master REMIC and the Subsidiary REMIC on a calendar year basis and report income of each of the Master REMIC and the (c) The Trustee shall cause each of the Master REMIC and the Subsidiary REMIC to elect to be treated as a REMIC under Section 860D of the Code and any applicable state tax law. Such elections shall be made by the Trustee on Form 1066 and any appropriate state tax return for the taxable year ending on the last day of the calendar year in which the Certificates and the uncertificated Subsidiary REMIC interests are issued. The Trustee shall prepare, and shall cause to be timely filed on behalf of each of the Master REMIC and the Subsidiary REMIC an application for a taxpayer identification number on Form SS-4, and, upon receipt of such numbers, shall notify the Master Servicer of such numbers. The Trustee shall prepare and file Form 8811 on behalf of each REMIC within 30 days after the Startup Day, and shall designate the appropriate person to respond to inquiries of the Owners regarding original issue discount and related information in accordance with applicable provisions of the Code. Any inconsistencies or...

Miscellaneous REMIC Provisions. 27 ARTICLE III