REMIC Elections. (a) The Depositor hereby instructs and authorizes the Securities Administrator to make an appropriate election to treat each of the Upper Tier REMIC and the Lower Tier REMIC as a REMIC. The Trustee, upon written direction of, and submission of such returns to the Trustee by the Securities Administrator, shall sign the returns providing for such elections and such other tax or information returns which are required to be signed by the Trustee under applicable law. This Agreement shall be construed so as to carry out the intention of the parties that each of the Upper Tier REMIC and the Lower Tier REMIC be treated as a REMIC at all times prior to the date on which the Trust Fund is terminated.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2005-Sl1), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2005-Sl2)
REMIC Elections. (a) The Depositor hereby instructs and authorizes the Securities Administrator Trustee to make an appropriate election to treat each of the Upper Pre-Funding REMIC, the SWAP REMIC, the Lower Tier REMIC and the Lower Upper Tier REMIC as a REMIC. The Trustee, upon written direction of, and submission of such returns to the Trustee by the Securities Administrator, shall sign the returns providing for such elections and such other tax or information returns which are required to be signed by the Trustee under applicable law. This Agreement shall be construed so as to carry out the intention of the parties that each of the Upper Pre-Funding REMIC, the SWAP REMIC, the Lower Tier REMIC and the Lower Upper Tier REMIC be treated as a REMIC at all times prior to the date on which the Trust Fund is terminated.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Specialty Underwriting & Residential Finance Trust Series 2006-Ab3), Pooling and Servicing Agreement (Specialty Underwriting & Residential Finance Trust Series 2006-Ab3)
REMIC Elections. (a) The Depositor hereby instructs and authorizes the Securities Administrator Trustee to make an appropriate election to treat each of the Upper Tier REMIC, the Lower Tier REMIC and the Lower Tier SWAP REMIC as a REMIC. The Trustee, upon written direction of, and submission of such returns to the Trustee by the Securities Administrator, shall sign the returns providing for such elections and such other tax or information returns which that are required to be signed by the Trustee under applicable law. This Agreement shall be construed so as to carry out the intention of the parties that each of the Upper Tier REMIC, the Lower Tier REMIC and the Lower Tier SWAP REMIC be treated as a REMIC at all times prior to the date on which the Trust Fund is terminated.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-He5)
