Common use of REMIC Qualification Clause in Contracts

REMIC Qualification. The Mortgage Loan constitutes a "qualified mortgage" within the meaning of Section 860G(a)(3) of the Code (but without regard to the rule in Treasury Regulation Section 1.860G-2(f)(2) that treats a defective obligation as a "qualified mortgage" or any substantially similar successor provision) and any and all Percentage Premiums and Yield Maintenance Charges constitute "customary prepayment penalties" within the meaning of Treasury Regulation Section 1.860G-1(b)(2).

REMIC Qualification. The Each Mortgage Loan constitutes a "qualified mortgage" within the meaning of Section 860G(a)(3) of the Code (but without regard to the rule in Treasury Regulation Section 1.860G-2(f)(2ss.1.860G-2(f)(2) that treats a defective obligation as a "qualified mortgage" or any substantially similar successor provision) and any and all Percentage Prepayment Premiums and Yield Maintenance Charges constitute "customary prepayment penalties" within the meaning of Treasury Regulation Section 1.860G-1(b)(2ss.1.860G-1(b)(2).

REMIC Qualification. The Each Mortgage Loan constitutes a "qualified mortgage" within the meaning of Section 860G(a)(3) of the Code (but without regard to the rule in Treasury Regulation Section 1.860G-2(f)(2Regulations 1.860 G-2(f)(2) that treats a defective obligation as a "qualified mortgage" , or any substantially similar successor provision) and any and all Percentage Premiums and Yield Maintenance Charges constitute each Mortgage Loan bears interest at a "customary prepayment penaltiesfixed rate" or at a "variable rate" within the meaning of Treasury Regulation Section 1.860G-1(b)(2).860G(a)(1)B of the Code;