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.
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (First Alliance Mortgage Loan Trust 1997-3), Pooling and Servicing Agreement (First Alliance Mortgage Loan Trust 1998-3), Pooling and Servicing Agreement (First Alliance Mortgage Loan Trust 1997-4)
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.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (First Alliance Mortgage Loan Trust 1996-3), Pooling and Servicing Agreement (First Alliance Mortgage Loan Trust 1996-4)
