Common use of Pooling REMIC Interests Clause in Contracts

Pooling REMIC Interests. If an election has been made to treat certain assets of the Trust as a Pooling REMIC, the Pooling and Servicing Agreement will set forth the terms of the Regular Interests and Residual Interest of the Pooling REMIC. Unless otherwise specified in the Pooling and Servicing Agreement, (a) the Pooling REMIC Regular Interests will be "regular interests" for purposes of the REMIC Provisions but will not constitute securities or certificates of interest in the Trust; and (b) the Trustee will be the owner of any such Regular Interests, which may not be transferred to any person other than a successor trustee appointed pursuant to Section 8.08 hereof unless the party desiring the transfer obtains a Special Tax Opinion.

Pooling REMIC Interests. If an election has been made to treat certain assets of the Trust as a Pooling REMIC, the Pooling and Servicing Trust Agreement will set forth the terms of the Regular Interests and the Residual Interest of the Pooling REMIC. Unless otherwise specified provided in the Trust Agreement, (i) the Subaccounts will be the Regular Interests in the Pooling and Servicing Agreement, (a) the Pooling REMIC Regular Interests will be "regular interests" for purposes of the REMIC Provisions but will not constitute securities or certificates of interest in the Trust; Trust and (bii) the Trustee will be the owner of any such Regular Intereststhe Subaccounts, which may not be transferred to any person other than a successor trustee appointed pursuant to Section 8.08 8.07 hereof unless the party desiring the transfer obtains a Special Tax Opinion.

Pooling REMIC Interests. If an election has been made to treat certain assets of the Trust as a Pooling REMIC, the Pooling and Master Servicing Agreement will set forth the terms of the Regular Interests and Residual Interest of the Pooling REMIC. Unless otherwise specified in the Pooling and Master Servicing Agreement, (a) the Pooling REMIC Regular Interests will be "regular interests" for purposes of the REMIC Provisions but will not constitute securities or certificates of interest in the Trust; and (b) the Trustee will be the owner of any such the Pooling REMIC Regular Interests, which may not be transferred to any person other than a successor trustee appointed pursuant to Section 8.08 8.07 hereof unless the party desiring the transfer obtains a Special Tax Opinion; and (c) the Pooling REMIC Regular Interests will be represented by Pooling REMIC Subaccounts.

Pooling REMIC Interests. If an election has been made to treat certain assets of the Trust as a Pooling REMIC, the Pooling and Servicing Agreement will set forth the terms of the Regular Interests and Residual Interest of the Pooling REMIC. Unless otherwise specified in the Pooling and Servicing Agreement, (a) the Pooling REMIC Regular Interests will be "“regular interests" ” for purposes of the REMIC Provisions but will not constitute securities or certificates of interest in the Trust; and (b) the Trustee will be the owner of any such Regular Interests, which may not be transferred to any person other than a successor trustee appointed pursuant to Section 8.08 hereof unless the party desiring the transfer obtains a Special Tax Opinion.