Common use of REMIC Interests Clause in Contracts

REMIC Interests. The Trust Agreement will set forth the terms of the Regular Interests and Residual Interest of each REMIC. Unless otherwise specified in the Trust Agreement, (a) the Regular Interests in each REMIC will be “regular interests” for purposes of the REMIC Provisions; (b) the Trustee will be the owner of the Regular Interests in any REMIC held by another REMIC formed pursuant to the terms of the Trust Agreement, and such Regular Interests may not be transferred to any person other than a successor trustee appointed pursuant to Section 8.07 hereof unless the party desiring the transfer obtains a Special Tax Opinion; and (c) such Regular Interests will be represented by the respective Interests.

REMIC Interests. The Trust Agreement will set forth the terms of the Regular Interests and Residual Interest Interests of each REMIC. Unless otherwise specified in the Trust Agreement, (a) the Regular Interests in each REMIC will be “regular interests” for purposes of the REMIC Provisions; (b) the Trustee will be the owner of the Regular Interests in any REMIC held by another REMIC formed pursuant to the terms of the Trust Agreement, and such Regular Interests may not be transferred to any person other than a successor trustee appointed pursuant to Section 8.07 9.07 hereof unless the party desiring the transfer obtains a Special Tax Opinion; and (c) such Regular Interests will be represented by the respective Interests.

REMIC Interests. The Trust Agreement will set forth the terms of the Regular Interests and Residual Interest of each REMIC. Unless otherwise specified in the Trust Agreement, (a) the Regular Interests in each a REMIC will be “"regular interests” " for purposes of the REMIC Provisions; (b) the Trustee will be the owner of the Regular Interests in any REMIC held by another REMIC formed pursuant to the terms of the Trust AgreementFirst Tier REMIC, and such Regular Interests which may not be transferred to any person other than a successor trustee appointed pursuant to Section 8.07 hereof unless the party desiring the transfer obtains a Special Tax Opinion; and (c) such Regular Interests will be represented by the respective Interests.

REMIC Interests. The Trust Agreement will set forth the terms of the Regular Interests and Residual Interest Interests of each REMIC. Unless otherwise specified in the Trust Agreement, (a) the Regular Interests in each REMIC will be “regular interests” for purposes of the REMIC Provisions; (b) the Trustee Securities Administrator will be the owner of the Regular Interests in any REMIC held by another REMIC formed pursuant to the terms of the Trust Agreement, and such Regular Interests may not be transferred to any person other than a successor trustee Securities Administrator appointed pursuant to Section 8.07 9.07 hereof unless the party desiring the transfer obtains a Special Tax Opinion; and (c) such Regular Interests will be represented by the respective Interests.

REMIC Interests. The Trust Agreement will set forth the terms of the Regular Interests and Residual Interest Interests of each REMIC. Unless otherwise specified in the Trust Agreement, (a) the Regular Interests in each REMIC will be “"regular interests” " for purposes of the REMIC Provisions; (b) the Trustee will be the owner of the Regular Interests in any REMIC held by another REMIC formed pursuant to the terms of the Trust Agreement, and such Regular Interests may not be transferred to any person other than a successor trustee appointed pursuant to Section 8.07 hereof unless the party desiring the transfer obtains a Special Tax Opinion; and (c) such Regular Interests will be represented by the respective Interests.

REMIC Interests. The Trust Agreement will set forth the terms of the Regular Interests and Residual Interest of each REMIC. Unless otherwise specified in the Trust Agreement, (a) the Regular Interests in each REMIC will be “"regular interests” " for purposes of the REMIC Provisions; (b) the Trustee will be the owner of the Regular Interests in any REMIC held by another REMIC formed pursuant to the terms of the Trust Agreement, and such Regular Interests may not be transferred to any person other than a successor trustee appointed pursuant to Section 8.07 hereof unless the party desiring the transfer obtains a Special Tax Opinion; and (c) such Regular Interests will be represented by the respective Interests.

REMIC Interests. The Trust Agreement will set forth the terms of the Regular Interests and Residual Interest of each REMIC. Unless otherwise specified in the Trust Agreement, (a) the Regular Interests in each REMIC will be “regular interests” for purposes of the REMIC Provisions; (b) the [Delaware] Trustee will be the owner of the Regular Interests in any REMIC held by another REMIC formed pursuant to the terms of the Trust Agreement, and such Regular Interests may not be transferred to any person other than a successor [Delaware] trustee appointed pursuant to Section 8.07 hereof unless the party desiring the transfer obtains a Special Tax Opinion; and (c) such Regular Interests will be represented by the respective Interests.

REMIC Interests. The Trust Agreement will set forth the terms of the Regular Interests and Residual Interest Interests of each REMIC. Unless otherwise specified in the Trust Agreement, (a) the Regular Interests in each REMIC will be “"regular interests” " for purposes of the REMIC Provisions; (b) the Trustee will be the owner of the Regular Interests in any REMIC held by another REMIC formed pursuant to the terms of the Trust Agreement, and such Regular Interests may not be transferred to any person other than a successor trustee appointed pursuant to Section 8.07 9.07 hereof unless the party desiring the transfer obtains a Special Tax Opinion; and (c) such Regular Interests will be represented by the respective Interests.

REMIC Interests. The Trust Agreement will set forth the terms of the Regular Interests and Residual Interest of each REMICREMIC I, REMIC II and REMIC III. Unless otherwise specified in the Trust Agreement, (a) the Regular Interests in each REMIC I, REMIC II and REMIC III will be “"regular interests” " for purposes of the REMIC Provisions; (b) the Trustee will be the owner of the Regular Interests in any REMIC held by another REMIC formed pursuant to the terms of the Trust Agreementsuch REMICs, and such Regular Interests which may not be transferred to any person other than a successor trustee appointed pursuant to Section 8.07 hereof unless the party desiring the transfer obtains a Special Tax Opinion; and (c) such Regular Interests will be represented by the respective Interests.