REMIC AND GRANTOR TRUST ADMINISTRATION. The provisions of this Article XII shall apply to each REMIC Pool and the Grantor Trust, as applicable.
REMIC AND GRANTOR TRUST ADMINISTRATION. (a) As set forth in the Preliminary Statement hereto, the Trustee shall elect REMIC status in accordance with the REMIC Provisions with respect to each of the Lower Tier REMIC and the Upper Tier REMIC. The Trustee shall make such elections on Forms 1066 or other appropriate federal tax or information return for the taxable year ending on the last day of the calendar year in which the Certificates are issued. For the purposes of such elections, each of the Lower Tier Regular Interests is hereby designated as a regular interest in the Lower Tier REMIC. Each Class of Certificates (other than the Class R and Class P Certificates) is hereby designated as a regular interest in the Upper Tier REMIC. The Class LT-R Interest is hereby designated as the sole residual interest in the Lower Tier REMIC. The Upper Tier REMIC Residual Interest is hereby designated as the sole residual interest in the Upper Tier REMIC. The Class R Certificate evidences ownership of the Class LT-R Interest and the Upper Tier REMIC Residual Interest. It is the intention of the parties hereto that the segregated pool of assets consisting of any collections of Prepayment Penalty Amounts constitute a grantor trust for federal income tax purposes. The Trustee, by its execution and delivery hereof, acknowledges the assignment to it of the Grantor Trust Assets and declares that it holds and will hold such assets in trust for the exclusive use and benefit of all present and future Holders of the Class P Certificates. The rights of Holders of the Class P Certificates to receive distributions from the proceeds of the Grantor Trust Assets and all ownership interests of such Holders in and to such distributions, shall be as set forth in this Agreement.
(b) The Closing Date is hereby designated as the "Startup Day" of each REMIC within the meaning of section 860G(a)(9) of the Code. The latest possible maturity date for purposes of Treasury Regulation 1.860G-1(a)(4) is the "Latest Possible Maturity Date". 108
(c) The Trustee shall pay any and all tax related expenses (not including taxes) of each REMIC and the Grantor Trust, including but not limited to any professional fees or expenses related to audits or any administrative or judicial proceedings with respect to such REMICs or the Grantor Trust that involve the Internal Revenue Service or state tax authorities, but only to the extent that (i) such expenses are ordinary or routine expenses, including expenses of a routine audit but not expenses of lit...
REMIC AND GRANTOR TRUST ADMINISTRATION. The provisions of this Article XII shall apply to each REMIC Pool.
REMIC AND GRANTOR TRUST ADMINISTRATION. (a) As set forth in the Preliminary Statement hereto, the Trustee shall elect REMIC status in accordance with the REMIC Provisions with respect to each of Lower Tier REMIC I, Lower Tier REMIC II, the Middle Tier REMIC and the Upper Tier REMIC. The Trustee shall make such elections on Forms 1066 or other appropriate federal tax or information return for the taxable year ending on the last day of the calendar year in which the Certificates are issued. For the purposes of such elections, each of the Lower Tier REMIC I Interests, other than the Class LTI-R Interest, is hereby designated as a regular interest in Lower Tier REMIC I. Each of the Lower Tier REMIC II Interests, other than the Class LTII-R Interest, is hereby designated as a regular interest in Lower Tier REMIC II. Each of the Middle Tier REMIC Interests, other than the Class MT-R Interest, is hereby designated as a regular interest in the Middle Tier REMIC. Component B3-I, Component B3-II and each Certificate, other than the Class R Certificate and the Class B3 Certificate, is hereby designated as a regular interest in the Upper Tier REMIC. The Class LTI-R Interest is hereby designated as the sole residual interest in Lower Tier REMIC I. The Class LTI-R Interest is hereby designated as the sole residual interest in Lower Tier REMIC II. The Class MT-R Interest is hereby designated as the sole residual interest in the Middle Tier REMIC. The Class R Certificate evidences ownership of the Class LTI-R Interest, the LTII-R Interest, the MT-R Interest and is also hereby designated as the sole residual interest in the Upper Tier REMIC. The Class P Certificates shall be neither a regular interest nor a residual interest in any REMIC created hereunder. It is the intention of the parties hereto that the segregated pool of assets consisting of any collections of Prepayment Penalty Amounts with respect to Pool 1 constitute a grantor trust for federal income tax purposes. The Trustee, by its execution and delivery hereof, acknowledges the assignment to it of the Grantor Trust Assets and declares that it holds and will hold such assets in trust for the exclusive use and benefit of all present and future Holders of the Class P Certificates. The rights of Holders of the Class P Certificates to receive distributions from the proceeds of the Grantor Trust Assets, and all ownership interests of such Holders in and to such distributions, shall be as set forth in this Agreement.
(b) The Closing Date is hereby designated...
REMIC AND GRANTOR TRUST ADMINISTRATION. The provisions of this Article XII shall apply to each REMIC Pool, the Class PST Grantor Trust and the Class J Grantor Trust, as applicable.
REMIC AND GRANTOR TRUST ADMINISTRATION. 124 Section 9.01
REMIC AND GRANTOR TRUST ADMINISTRATION. The provisions of this Article XII shall apply to each REMIC Pool, the Class A-2FL Grantor Trust, the Class A-MFL Grantor Trust, the Class A-JFL Grantor Trust and the Excess Interest Grantor Trust, as applicable.
REMIC AND GRANTOR TRUST ADMINISTRATION. REMIC Administration Section 9.02 Prohibited Transactions and Activities Section 9.03 Indemnification with Respect to Certain Taxes and Loss of REMIC Status Section 9.04 REO Property Section 9.05 Grantor Trust Administration ARTICLE X
REMIC AND GRANTOR TRUST ADMINISTRATION. Section 12.1 REMIC Administration 374 Section 12.2 Prohibited Transactions and Activities 379 Section 12.3 Modifications of Mortgage Loans 379 Section 12.4 Liability with Respect to Certain Taxes and Loss of REMIC Status 380 Section 12.5 Class J Grantor Trust 380 Section 12.6 EC Trust 381 Section 12.7 Swap Grantor Trust 382 Section 12.8 Grantor Trust Reporting Requirements 382 ARTICLE XIII
Section 13.1 Intent of the Parties; Reasonableness. 383
Section 13.2 Information to be Provided by the Master Servicer, the Special Servicer, the Custodian, any Primary Servicer and the Certificate Administrator. 384 Section 13.3 Filing Obligations. 386 Section 13.4 Form 10-D Filings. 386 Section 13.5 Form 10-K Filing 389 Section 13.6 Sxxxxxxx-Xxxxx Certification. 391 Section 13.7 Form 8-K Filings. 392
REMIC AND GRANTOR TRUST ADMINISTRATION. (a) As set forth in the Preliminary Statement hereto, REMIC status shall be elected in accordance with the REMIC Provisions with respect to each of REMIC I-1, REMIC I-2, REMIC I-3, REMIC I-4, REMIC II-1 and REMIC II-2. The Trustee shall make such elections on Forms 1066 or other appropriate federal tax or information return for the taxable year ending on the last day of the calendar year in which the Certificates are issued. For the purposes of such elections, each of the REMIC I-1 Regular Interests is hereby designated as a regular interest in REMIC I-1. Each of the REMIC I-2 Regular Interests is hereby designated as a regular interest in REMIC I-2. Each of the REMIC I-3 Regular Interests is hereby designated as a regular interest in REMIC I-3. Each of the REMIC I-4 Regular Interests is hereby designated as a regular interest in REMIC I-4. Each of the REMIC II-1 Regular Interests is hereby designated as a regular interest in REMIC II-1. Each of the REMIC II-2 Regular Interests is hereby designated as a regular interest in REMIC II-2. The Class LTI1-R Interest is hereby designated as the sole
