Miscellaneous REMIC Provisions. (a) The Class XX-0, Xxxxx XX-0, Class LA-3, Class LA-4, Class LA-SB, Class LA-S, Class LB, Class LC, Class LD, Class LE, Class LF and Class LNR Interests are hereby designated as “regular interests” in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(1), and the Lower-Tier Residual Interest (evidenced by the Class R Certificates) is hereby designated as the sole class of “residual interests” in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(2). (b) The Regular Certificates are hereby designated as “regular interests” in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(1), and the Upper-Tier Residual Interest (evidenced by the Class R Certificates) is hereby designated as the sole class of “residual interests” in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(2). (c) The Closing Date is hereby designated as the “Startup Day” of the Lower-Tier REMIC and the Upper-Tier REMIC. The “latest possible maturity date” for purposes of Code Section 860G(a)(1) of the Lower-Tier Regular Interests and the Regular Certificates is the Rated Final Distribution Date. (d) None of the Depositor, the Trustee, the Master Servicer, the Special Servicer, the Operating Advisor or the Certificate Administrator 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.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (CSAIL 2015-C3 Commercial Mortgage Trust), Pooling and Servicing Agreement (CSAIL 2015-C2 Commercial Mortgage Trust), Pooling and Servicing Agreement (CSAIL 2015-C1 Commercial Mortgage Trust)
Miscellaneous REMIC Provisions. (a) The Class XX-0, Xxxxx XX-0___, Class LA-3___, Class LA-4___, Class LA-SB___, Class LA-S___, Class LB___, Class LC___, Class LD___, Class LE, Class LF ___ and Class LNR ___ Interests are hereby designated as “"regular interests” " in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(1)) of the Code, and the Lower-Tier Residual Interest (evidenced by the Class R Certificates) is __ Certificates are hereby designated as the sole class of “"residual interests” " in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(2).
(b) of the Code. The Regular 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 Code Section 860G(a)(1), ) of the Code and the Upper-Tier Residual Interest (evidenced by the Class R Certificates) is __ Certificates are hereby designated as the sole class of “"residual interests” " in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(2).
(c) of the Code. The Closing Date is hereby designated as the “"Startup Day” " of the Lower-Tier REMIC and the Upper-Tier REMICREMIC within the meaning of Section 860G(a)(9) of the Code. The “"latest possible maturity date” for purposes of Code Section 860G(a)(1) " of the Lower-Tier Regular Interests and the Regular Certificates for purposes of Code Section 860G(a)(1) is the Rated 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.
(db) None of the Mortgage Loan Seller, Depositor, the Trustee, the Master Servicer, the Special Servicer, the Operating Advisor Trustee or the Certificate Administrator 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.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp), Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp), Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp)
Miscellaneous REMIC Provisions. (a) The Class XX-0, Xxxxx XX-0[LA-1], Class LA-3[LA-2] Class [LB], Class LA-4[LC], Class LA-SB[LD], Class LA-S[LE], Class LB, Class LC, Class LD, Class LE, Class LF [LF] and Class LNR [LG] Interests are hereby designated as “regular interests” in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(1), and the Lower-Tier Residual Interest (evidenced by the [Class R R] Certificates) is hereby designated as the sole class of “residual interests” in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(2).
(b) The [Class [A-1], Class [A-2],] Class [B], Class [C], Class [D], Class [E], Class [F] and Class [G] Certificates [and the Class [A-1] and Class [A-2] Regular Certificates Interests] are hereby designated as “regular interests” in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(1), ) and the Upper-Tier Residual Interest (evidenced by the Class R [R] Certificates) is hereby designated as the sole class of “residual interests” in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(2).
(c) The Closing Date is hereby designated as the “Startup Day” of each Trust REMIC within the Lower-Tier REMIC and meaning of Section 860G(a)(9) of the Upper-Tier REMICCode. The “latest possible maturity date” for purposes of Code Section 860G(a)(1) of the Lower-Tier Regular Interests and the Regular Certificates for purposes of Section 860G(a)(1) of the Code is the date that is the Rated Final Distribution Date.
(d) The portions of the Trust Fund consisting of [(i) the Class [A-1] and Class [A-2] Uncertificated Regular Interests and the [Exchangeable] Distribution Account and (ii)] the Excess Interest, the Excess Interest Distribution Account and the proceeds thereof shall be treated as a grantor trust under subpart E, part I of subchapter J of the Code for federal income tax purposes (the “Grantor Trust”). As provided herein, the Trustee shall take all actions expressly required hereunder to ensure that the portion of the Trust Fund consisting of the Grantor Trust maintains its status as a grantor trust under federal income tax law and not be treated as part of the Lower-Tier REMIC or Upper-Tier REMIC. The [Class [A-1], Class [A-2] and Class [EC] Certificates shall represent undivided interests in their respective portions of the Grantor Trust described in clause (i), above and the] Class V Certificates shall represent undivided beneficial interests in the portion of the Grantor Trust consisting of Excess Interest and the proceeds thereof, in the Excess Interest Distribution Account. None of the Depositor, the Trustee, the Master Servicer, the Special Servicer, the Operating Trust Advisor [or the Certificate Administrator Administrator] 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.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (SG Commercial Mortgage Securities, LLC), Pooling and Servicing Agreement (SG Commercial Mortgage Securities, LLC), Pooling and Servicing Agreement (RBS Commercial Funding Inc.)
Miscellaneous REMIC Provisions. (a) The Class XX-0LA-1, Xxxxx XX-0Class LA-2, Class LA-3, Class LA-AB, Class LA-4, Class LALA-1A, Claxx XX-SBX, Class LAXxxxx XA-SJ, Class LB, Class LC, Class LD, Class LE, Class LF LF, Class LG, Class LH, Class LJ, Class LK, Class LL, Class LM, Class LN, Class LO, Class LP, Class LQ and Class LNR LS Interests are hereby designated as “"regular interests” " in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(1)) of the Code, and the Lower-Tier Residual Interest (evidenced by the Class R Certificates) is LR Certificates are hereby designated as the sole class of “"residual interests” " in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(2)) of the Code.
(b) The Regular Class A-1, Class A-2, Class A-3, Class A-AB, Class A-4, Class A-1A, Class X, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class O, Class P, Class Q and Class S Certificates are hereby designated as “representing "regular interests” " in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(1), ) of the Code and the Upper-Tier Residual Interest (evidenced by the Class R Certificates) is Certificates are hereby designated as the sole class of “"residual interests” " in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(2)) of the Code.
(c) The Closing Date is hereby designated as the “"Startup Day” " of the Lower-Tier REMIC and the Upper-Tier REMICREMIC within the meaning of Section 860G(a)(9) of the Code. The “"latest possible maturity date” for purposes of Code Section 860G(a)(1) " of the Lower-Tier Regular Interests and the Regular Certificates for purposes of Section 860G(a)(1) of the Code is the Rated Final Distribution Date.
(d) None of the Depositor, the Trustee, the Master Servicer, Servicer or the Special Servicer, the Operating Advisor or the Certificate Administrator 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.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (GS Mortgage Securities Trust 2007-Gg10), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2006-Gg8), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2006-Gg8)
Miscellaneous REMIC Provisions. (a) The Class XX-0LX-0, Xxxxx XX-0, Class LA-3, Class LA-4, Class LA-SBAB, Class LA-S, Class LB, Class LC, Class LD, Class LE, Class LF and Class LNR LG Interests are hereby designated as “regular interests” in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(1), and the Lower-Tier Residual Interest (evidenced by the Class R Certificates) is hereby designated as the sole class of “residual interests” in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(2).
(b) The Regular Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class A-S, Class B, Class C, Class D, Class E, Class F and Class G Certificates are hereby designated as “regular interests” in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(1), and the Upper-Tier Residual Interest (evidenced by the Class R Certificates) is hereby designated as the sole class of “residual interests” in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(2).
(c) The related REMIC Declaration designates each Loan REMIC Regular Interest as the “regular interest” in the related Loan REMIC within the meaning of Section 860(G)(a)(1) of the Code and each Loan REMIC Residual Interest as the sole class of “residual interests” in the related Loan REMIC within the meaning of Section 860G(a)(2) of the Code.
(d) The Closing Date is hereby designated as the “Startup Day” of the Lower-Tier REMIC and the Upper-Tier REMIC, and March 29, 2012 is designated in the related REMIC Declaration as the “Startup Day” of each Loan REMIC, in each case within the meaning of Code Section 860G(a)(9). The “latest possible maturity date” for purposes of Code Section 860G(a)(1) of (i) the Lower-Tier Regular Interests and the Regular Certificates is the Rated Final Distribution DateDate and (ii) for each Loan REMIC Regular Interest is the date set forth in the related REMIC Declaration (the Maturity Date of the related Mortgage Loan).
(de) None of the Depositor, the Trustee, the Master Servicer, the Special Servicer, Servicer or the Operating Advisor or the Certificate Administrator 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.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (GS Mortgage Securities Trust 2012-Gcj7), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2012-Gcj7)
Miscellaneous REMIC Provisions. (a) The Class XX-0LX-0, Xxxxx XX-0, Class LA-3, Class LA-4, Class LA-SBAB, Class LA-S, Class LB, Class LC, Class LD, Class LE, Class LF and Class LNR LG Interests are hereby designated as “regular interests” in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(1), and the Lower-Tier Residual Interest (evidenced by the Class R Certificates) is hereby designated as the sole class of “residual interests” in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(2).
(b) The Regular Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-C, Class A-S, Class B, Class C, Class D, Class E, Class F and Class G Certificates are hereby designated as “regular interests” in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(1), and the Upper-Tier Residual Interest (evidenced by the Class R Certificates) is hereby designated as the sole class of “residual interests” in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(2).
(c) The Closing Date is hereby designated as the “Startup Day” of the Lower-Tier REMIC and the Upper-Tier REMIC. The “latest possible maturity date” for purposes of Code Section 860G(a)(1) of the Lower-Tier Regular Interests and the Regular Certificates is the Rated Final Distribution Date.
(d) None of the Depositor, the Trustee, the Master Servicer, the Special Servicer, Servicer or the Operating Advisor or the Certificate Administrator 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.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (GS Mortgage Securities Trust 2013-Gcj12), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2013-Gcj12)
Miscellaneous REMIC Provisions. (a) The Class XX-0, Xxxxx XX-0[LA-1], Class LA-3[LA-2] Class [LB], Class LA-4[LC], Class LA-SB[LD], Class LA-S[LE], Class LB, Class LC, Class LD, Class LE, Class LF [LF] and Class LNR [LG] Interests are hereby designated as “regular interests” in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(1), and the Lower-Tier Residual Interest (evidenced by the [Class R R] Certificates) is hereby designated as the sole class of “residual interests” in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(2).
(b) The Regular Class [A-1], Class [A-2], Class [B], Class [C], Class [D], Class [E], Class [F] and Class [G] Certificates are hereby designated as “regular interests” in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(1), ) and the Upper-Tier Residual Interest (evidenced by the Class R [R] Certificates) is hereby designated as the sole class of “residual interests” in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(2).
(c) The Closing Date is hereby designated as the “Startup Day” of each Trust REMIC within the Lower-Tier REMIC and meaning of Section 860G(a)(9) of the Upper-Tier REMICCode. The “latest possible maturity date” for purposes of Code Section 860G(a)(1) of the Lower-Tier Regular Interests and the Regular Certificates for purposes of Section 860G(a)(1) of the Code is the Rated Final Distribution Date.
(d) None of the Depositor, the Trustee, the Master Servicer, the Special Servicer, the Operating Trust Advisor [or the Certificate Administrator Administrator] 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.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Barclays Commercial Mortgage Securities LLC), Pooling and Servicing Agreement (RBS Commercial Funding Inc.)
Miscellaneous REMIC Provisions. (a) The Class XX-0LX-0, Xxxxx XX-0, Class LA-3, Class LA-4, Class LA-SBAB, Class LA-S, Class LB, Class LC, Class LD, Class LE, Class LF and Class LNR LG Interests are hereby designated as “regular interests” in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(1), and the Lower-Tier Residual Interest (evidenced by the Class R Certificates) is hereby designated as the sole class of “residual interests” in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(2).
(b) The Regular Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class A-S, Class B, Class C, Class D, Class E, Class F and Class G Certificates are hereby designated as “regular interests” in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(1), and the Upper-Tier Residual Interest (evidenced by the Class R Certificates) is hereby designated as the sole class of “residual interests” in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(2).
(c) The Closing Date is hereby designated as the “Startup Day” of the Lower-Tier REMIC and the Upper-Tier REMIC. The , and the “latest possible maturity date” for purposes of Code Section 860G(a)(1) of the Lower-Tier Regular Interests and the Regular Certificates is the Rated Final Distribution Date.
(d) None of the Depositor, the Trustee, the Master Servicer, the Special Servicer, Servicer or the Operating Advisor or the Certificate Administrator 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.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2012-Gc8), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2012-Gc8)
Miscellaneous REMIC Provisions. (a) The Class XX-0, Xxxxx XX-0A, Class LA-3B, Class LA-4C, Class LA-SBD, Class LA-SE, Class LBF, Class LCG, Class LD, Class LE, Class LF X-1 and Class LNR Interests X-2 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 R Certificates are hereby designated the single class of "residual interest" in the Upper-Tier REMIC within the meaning of Section 860G(a)(2) of the Code. The Class AL Interest, Class BL Interest, Class CL Interest, Class DL Interest, Class EL Interest, Class FL Interest, Class GL Interest, Class AR-L Interest and Class X-1L Interest are hereby designated "regular interests" in the Lower-Tier REMIC within the meaning of Section 860G(a)(l) of the Code Section 860G(a)(1), and the Lower-Tier Residual Interest (evidenced by the Class R Certificates) is LR Certificates are hereby designated as the sole single class of “"residual interests” interest" in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(2).
(b) The Regular Certificates are hereby designated as “regular interests” in of the Upper-Tier REMIC within the meaning of Code Section 860G(a)(1), and the Upper-Tier Residual Interest (evidenced by the Class R Certificates) is hereby designated as the sole class of “residual interests” in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(2).
(c) Code. The Closing Date is hereby designated as the “"Startup Day” " of the Upper-Tier REMIC and Lower-Tier REMIC and within the Upper-Tier REMICmeaning of Section 860G(a)(9) of the Code. The “"latest possible maturity date” " of the Class A, Class B, Class C, Class D, Class E, Class F, Class G, Class X-1 and Class X-2 Certificates and the Class AL Interest, Class BL Interest, Class CL Interest, Class DL Interest, Class EL Interest, Class FL Interest, Class GL Interest, Class AR-L Interest and Class X-1L Interest for purposes of Code Section 860G(a)(1) is two (2) years following the Final Scheduled Distribution Date. If not previously paid, all amounts owing on the Certificates shall be due and payable on the "latest possible maturity date."
(b) The Trustee shall, for federal income tax purposes, maintain books and records with respect to each of the Upper-Tier REMIC and Lower-Tier Regular Interests REMIC on a calendar year and the Regular Certificates is the Rated Final Distribution Dateon an accrual basis.
(dc) None of the Originator, the Depositor, the Trustee, the Master Servicer, the Special Servicer, nor the Operating Advisor or the Certificate Administrator Master Servicer shall enter into any arrangement by which the Trust Fund Upper-Tier REMIC or Lower-Tier REMIC will receive a fee or other compensation for services other than as specifically contemplated herein.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (LTC Properties Inc)
Miscellaneous REMIC Provisions. (a) The Class XX-0, Xxxxx XX-0A-L-1, Class LA-3A-L-2, Class LA-4B-L, Class LAC-SBX, Class LAD-SL, Class LBE-L, Class LCF-L, Class LDG-L, Class LEH-L, Class LF and J-L, Class LNR K-L xxd Class L-L Interests are hereby designated as “"regular interests” " in the Lower-Tier REMIC I within the meaning of Code Section 860G(a)(1)) of the Code, and the LowerClass R-Tier Residual Interest (evidenced by the Class R Certificates) is I Certificates are hereby designated as the sole class of “"residual interests” " in the Lower-Tier REMIC I within the meaning of Code Section 860G(a)(2).
(b) of the Code. The Regular Class A-1, Class A-2, Class A-EC, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class L-1 and Class L-2 Certificates are hereby designated as “"regular interests” " in the Upper-Tier REMIC II within the meaning of Code Section 860G(a)(1), ) of the Code and the UpperClass R-Tier Residual Interest (evidenced by the Class R Certificates) is II Certificates are hereby designated as the sole class of “"residual interests” " in the Upper-Tier REMIC II within the meaning of Code Section 860G(a)(2).
(c) of the Code. The Closing Date is hereby designated as the “"Startup Day” " of REMIC I and REMIC II within the meaning of Section 860G(a)(9) of the Lower-Tier REMIC and the Upper-Tier REMICCode. The “"latest possible maturity date” " of the REMIC I Regular Interests and the Regular Certificates for purposes of Code Section 860G(a)(1) of the Lower-Tier Regular Interests and the Regular Certificates is the Rated Scheduled Final Distribution Date. The initial Certificate Balance of each Class of REMIC I Regular Interests is equal to the Certificate Balance of the Related Class of Certificates. The pass-through rate of each Class of REMIC I Regular Interests is a per annum rate equal to the REMIC I Pass-Through Rate.
(db) None of the Depositor, the Trustee, the Master ServicerFiscal Agent, the Special Servicer, the Operating Advisor Servicer or the Certificate Administrator 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.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Midland Realty Accept Corp Com Mort Pass THR Cert Se 1996 C2)
Miscellaneous REMIC Provisions. (a) The Class XX-0, Xxxxx XX-0, Class LA-3, Class LA-4, Class LA-SB, Class LA-S, Class LB, Class LC, Class LD, Class LE, Class LF LF, Class LG and Class LNR Interests are hereby designated as “regular interests” in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(1), and the Lower-Tier Residual Interest (evidenced by the Class R Certificates) is hereby designated as the sole class of “residual interests” in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(2).
(b) The Regular Certificates are hereby designated as “regular interests” in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(1), and the Upper-Tier Residual Interest (evidenced by the Class R Certificates) is hereby designated as the sole class of “residual interests” in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(2).
(c) The Closing Date is hereby designated as the “Startup Day” of the Lower-Tier REMIC and the Upper-Tier REMIC. The “latest possible maturity date” for purposes of Code Section 860G(a)(1) of the Lower-Tier Regular Interests and the Regular Certificates is the Rated Final Distribution Date.
(d) None of the Depositor, the Trustee, the Master Servicer, the Special Servicer, the Operating Advisor or the Certificate Administrator 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.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (CSAIL 2015-C4 Commercial Mortgage Trust)
Miscellaneous REMIC Provisions. (a) The Class XX-0, Xxxxx XX-0[LA-1], Class LA-3[LA-2] Class [LB], Class LA-4[LC], Class LA-SB[LD], Class LA-S[LE], Class LB, Class LC, Class LD, Class LE, Class LF [LF] and Class LNR [LG] Interests are hereby designated as “regular interests” in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(1), and the Lower-Tier Residual Interest (evidenced by the [Class R R] Certificates) is hereby designated as the sole class of “residual interests” in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(2).
(b) The [Class [A-1], Class [A-2],] Class [B], Class [C], Class [D], Class [E], Class [F] and Class [G] Certificates [and the Class [A-1] and Class [A-2] Uncertificated Regular Certificates Interests] are hereby designated as “regular interests” in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(1), ) and the Upper-Tier Residual Interest (evidenced by the Class R [R] Certificates) is hereby designated as the sole class of “residual interests” in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(2).
(c) The Closing Date is hereby designated as the “Startup Day” of each Trust REMIC within the Lower-Tier REMIC and meaning of Section 860G(a)(9) of the Upper-Tier REMICCode. The “latest possible maturity date” for purposes of Code Section 860G(a)(1) of the Lower-Tier Regular Interests and the Regular Certificates for purposes of Section 860G(a)(1) of the Code is the Rated Final Distribution Date.
(d) The portions of the Trust Fund consisting of [(i) the Class [A-1] and Class [A-2] Uncertificated Regular Interests and the [Exchangeable] Distribution Account and (ii)] the Excess Interest, the Excess Interest Distribution Account and the proceeds thereof shall be treated as a grantor trust under subpart E, part I of subchapter J of the Code for federal income tax purposes (the “Grantor Trust”). As provided herein, the Trustee shall take all actions expressly required hereunder to ensure that the portion of the Trust Fund consisting of the Grantor Trust maintains its status as a grantor trust under federal income tax law and not be treated as part of the Lower-Tier REMIC or Upper-Tier REMIC. The [Class [A-1], Class [A-2] and Class [EC] Certificates shall represent undivided interests in their respective portions of the Grantor Trust described in clause (i), above and the] Class S Certificates shall represent undivided beneficial interests in the portion of the Grantor Trust consisting of Excess Interest and the proceeds thereof, in the Class S Distribution Account.
(e) None of the Depositor, the Trustee, the Master Servicer, the Special Servicer, the Operating Trust Advisor [or the Certificate Administrator Administrator] 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.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (RBS Commercial Funding Inc.)
Miscellaneous REMIC Provisions. (a) [The Class XX-0, Xxxxx XX-0[LA-1], Class LA-3[LA-2], Class LA-4[LB], Class LA-SB[LC], Class LA-S[LD], Class LB[LE], Class LC, Class LD, Class LE, Class LF [LF] and Class LNR [LG] Interests are hereby designated as “regular interests” in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(1), and the Lower-Tier Residual Interest (evidenced by the Class R Certificates) is hereby designated as the sole class of “residual interests” in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(2).]
(b) The Regular Class [A-1], Class [A-2], Class [X-A], Class [X-B], Class [B], Class [C], Class [D], Class [E], Class [F] and Class [G] Certificates are hereby designated as “regular interests” in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(1), and the Upper-Tier Residual Interest (evidenced by the Class R Certificates) is hereby designated as the sole class of “residual interests” in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(2).
(c) The Closing Date is hereby designated as the “Startup Day” of each Trust REMIC within the Lower-Tier REMIC and the Upper-Tier REMICmeaning of Code Section 860G(a)(9). The “latest possible maturity date” for purposes of Code Section 860G(a)(1) of the Lower-Tier Regular Interests and the Regular Certificates for purposes of Code Section 860G(a)(1) is the Rated Final Distribution Date.
(d) None of the Depositor, the Trustee, the Master Servicer, the Special Servicer, the Operating Advisor or the Certificate Administrator 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.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (CCRE Commercial Mortgage Securities, L.P.)
Miscellaneous REMIC Provisions. (a) The Class XX-0, Xxxxx XX-0A-L-1, Class LA-3A-L-2, Class LA-4B-L, Class LAC-SBL, Class LAX-SX, Class LBE-L, Class LCF-L, Class LDG-L, Class LEH-L, Class LF J-L, Class K-L and Class LNR Clasx X-L Interests are hereby designated as “"regular interests” " in the Lower-Tier REMIC I within the meaning of Code Section 860G(a)(1)) of the Code, and the LowerClass R-Tier Residual Interest (evidenced by the Class R Certificates) is I Certificates are hereby designated as the sole class of “"residual interests” " in the Lower-Tier REMIC I within the meaning of Code Section 860G(a)(2).
(b) of the Code. The Regular Class A-1, Class A-2, Class A-EC, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class L-PO and Class L-IO Certificates are hereby designated as “"regular interests” " in the Upper-Tier REMIC II within the meaning of Code Section 860G(a)(1), ) of the Code and the UpperClass R-Tier Residual Interest (evidenced by the Class R Certificates) is II Certificates are hereby designated as the sole class of “"residual interests” " in the Upper-Tier REMIC II within the meaning of Code Section 860G(a)(2).
(c) of the Code. The Closing Date is hereby designated as the “"Startup Day” " of REMIC I and REMIC II within the meaning of Section 860G(a)(9) of the Lower-Tier REMIC and the Upper-Tier REMICCode. The “"latest possible maturity date” " of the REMIC I Regular Interests and the Regular Certificates for purposes of Code Section 860G(a)(1) of the Lower-Tier Regular Interests and the Regular Certificates is the Rated Scheduled Final Distribution Date. The initial Certificate Balance of each Class of REMIC I Regular Interests is equal to the Certificate Balance of the Related Class of Certificates. The pass-through rate of each Class of REMIC I Regular Interests is a per annum rate equal to the REMIC I Pass-Through Rate.
(db) None of the Depositor, the Trustee, the Fiscal Agent, Special Servicer or Master Servicer, the Special Servicer, the Operating Advisor or the Certificate Administrator 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.
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Samples: Pooling and Servicing Agreement (Commercial Mortgage Acceptance Corp)
Miscellaneous REMIC Provisions. (a) The Class XX-0, Xxxxx XX-0A-L, Class LA-3B-L, Class LA-4, X-X and [Class LA-SB, Class LA-S, Class LB, Class LC, Class LD, Class LE, Class LF and Class LNR [PO]-L] Interests are hereby designated as “"regular interests” " in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(1)) of the Code, and the Lower-Tier Residual Interest (evidenced by the Class R Certificates) is LR Certificates are hereby designated as the sole class of “"residual interests” " in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(2).
(b) of the Code. The Regular Class A, Class B, Class C, [Class [EC], Class [PO] and Class [IO]] Certificates are hereby designated as “"regular interests” " in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(1), ) of the Code and the Upper-Tier Residual Interest (evidenced by the Class R Certificates) is Certificates are hereby designated as the sole class of “"residual interests” " in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(2).
(c) of the Code. The Closing Date is hereby designated as the “"Startup Day” " of the Lower-Tier REMIC and the Upper-Tier REMICREMIC within the meaning of Section 860G(a)(9) of the Code. The “"latest possible maturity date” for purposes of Code Section 860G(a)(1) " of the Lower-Tier Regular Interests and the Regular Certificates for purposes of Code Section 860G(a)(1) is the Rated 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.
(db) None of the Mortgage Loan Seller, Depositor, the Trustee, the Master Servicer, the Special Servicer, the Operating Advisor Trustee or the Certificate Administrator 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.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Commercial Mortgage Acceptance Corp)