Common use of REMIC Status; Taxes Clause in Contracts

REMIC Status; Taxes. (a) The Tax Matters Person shall prepare and file or cause to be filed with the Internal Revenue Service Federal tax or information returns with respect to each REMIC and the Certificates containing such information and at the times and in such manner as may be required by the Code or applicable Treasury regulations, and shall furnish to Owners such statements or information at the times and in such manner as may be required thereby. For this purpose, the Tax Matters Person may, but need not, rely on any proposed regulations of the United States Department of the Treasury. The Tax Matters Person shall indicate the election to treat each REMIC as a REMIC (which election shall apply to the taxable period ending December 31, 1996 and each calendar year thereafter) in such manner as the Code or applicable Treasury regulations may prescribe. The Trustee, as Tax Matters Person appointed pursuant to Section 12.17 hereof shall sign all tax information returns filed pursuant to this Section 12.16. The Tax Matters Person shall provide information necessary for the computation of tax imposed on the transfer of a Residual Certificate to a Disqualified Organization, or an agent of a Disqualified Organization, or a pass-through entity in which a Disqualified Organization is the record holder of an interest. The Trustee shall not be required to file a separate tax return for the Supplemental Interest Trust.

REMIC Status; Taxes. (a) The Tax Matters Person shall prepare and file or cause to be filed with the Internal Revenue Service Federal federal tax or information returns with respect to each REMIC the Trust and the Certificates containing such information and at the times and in such manner as may be required by the Code or applicable Treasury regulations, regulations and shall furnish to Owners such statements or information at the times and in such manner as may be required thereby. For this purpose, the Tax Matters Person may, but need not, rely on any proposed regulations of the United States Department of the Treasury. The Tax Matters Person shall indicate the election to treat each REMIC the Trust as a REMIC (which election shall apply to the taxable period ending December 31, 1996 1997 and each calendar year thereafter) in such manner as the Code or applicable Treasury regulations may prescribe. The TrusteeCompany, as Tax Matters Person appointed pursuant to Section 12.17 hereof 11.17 hereof, shall sign all tax information returns filed pursuant to this Section 12.1611.15. The Tax Matters Person shall provide information necessary for the computation of tax imposed on the transfer of a Residual Class R Certificate to a Disqualified Organization, or an agent of a Disqualified Organization, Organization or a pass-through entity in which a Disqualified Organization is the record holder of an interest. The Tax Matters Person shall provide the Trustee shall not with copies of any Federal tax or information returns filed, or caused to be required filed, by the Tax Matters Person with respect to file a separate tax return for the Supplemental Interest TrustTrust or the Certificates.

REMIC Status; Taxes. (a) The Tax Matters Person shall prepare and file or cause to be filed with the Internal Revenue Service Federal federal tax or information returns with respect to each REMIC the Trust and the Certificates containing such information and at the times and in such manner as may be required by the Code or applicable Treasury regulations, regulations and shall furnish to Owners such statements or information at the times and in such manner as may be required thereby. For this purpose, the Tax Matters Person may, but need not, rely on any proposed regulations of the United States Department of the Treasury. The Tax Matters Person shall indicate the election to treat each REMIC the Trust as a REMIC (which election shall apply to the taxable period ending December 31, 1996 and each calendar year thereafter) in such manner as the Code or applicable Treasury regulations may prescribe. The TrusteeCompany, as Tax Matters Person appointed pursuant to Section 12.17 hereof 11.17 hereof, shall sign all tax information returns filed pursuant to this Section 12.1611.15. The Tax Matters Person shall provide information necessary for the computation of tax imposed on the transfer of a Residual Class R Certificate to a Disqualified Organization, or an agent of a Disqualified Organization, Organization or a pass-through entity in which a Disqualified Organization is the record holder of an interest. The Tax Matters Person shall provide the Trustee shall not with copies of any Federal tax or information returns filed, or caused to be required filed, by the Tax Matters Person with respect to file a separate tax return for the Supplemental Interest TrustTrust or the Certificates.

REMIC Status; Taxes. (a) The Tax Matters Person shall prepare and file or cause to be filed with the Internal Revenue Service Federal federal tax or information returns with respect to each REMIC the Trust and the Certificates containing such information and at the times and in such manner as may be required by the Code or applicable Treasury regulations, regulations and shall furnish to Owners such statements or information at the times and in such manner as may be required thereby. For this purpose, the Tax Matters Person may, but need not, rely on any proposed regulations of the United States Department of the Treasury. The Tax Matters Person shall indicate the election to treat each REMIC the Trust as a REMIC (which election shall apply to the taxable period ending December 31, 1996 1998 and each calendar year thereafter) in such manner as the Code or applicable Treasury regulations may prescribe. The TrusteeFirst Alliance Portfolio Services, Inc., as Tax Matters Person appointed pursuant to Section 12.17 hereof 11.17 hereof, shall sign all tax information returns filed pursuant to this Section 12.1611.15. The Tax Matters Person shall provide information necessary for the computation of tax imposed on the transfer of a Residual Class R Certificate to a Disqualified Organization, or an agent of a Disqualified Organization, Organization or a pass-through entity in which a Disqualified Organization is the record holder of an interest. The Tax Matters Person shall provide the Trustee shall not with copies of any Federal tax or information returns filed, or caused to be required filed, by the Tax Matters Person with respect to file a separate tax return for the Supplemental Interest TrustTrust or the Certificates.

REMIC Status; Taxes. (a) The Tax Matters Person shall prepare and file or cause to be filed with the Internal Revenue Service Federal tax or information returns with respect to each the REMIC Trust and the Certificates containing such information and at the times and in such manner as may be required by the Code or applicable Treasury regulations, and shall furnish to Owners such statements or information at the times and in such manner as may be required thereby. For this purpose, the Tax Matters Person may, but need not, rely on any proposed regulations of the United States Department of the Treasury. The Tax Matters Person shall indicate the election to treat each the REMIC Trust as a REMIC (which election shall apply to the taxable period ending December 31, 1996 and each calendar year thereafter) in such manner as the Code or applicable Treasury regulations may prescribe. The Trustee, as Tax Matters Person appointed pursuant to Section 12.17 11.17 hereof shall sign all tax information returns filed pursuant to this Section 12.1611.15. The Tax Matters Person shall provide information necessary for the computation of tax imposed on the transfer of a Residual Class R Certificate to a Disqualified Organization, or an agent of a Disqualified Organization, or a pass-through entity in which a Disqualified Organization is the record holder of an interest. The Trustee shall not be required to file a separate tax return for the Supplemental Interest Trust.133

REMIC Status; Taxes. (a) The Tax Matters Person shall prepare and file or cause to be filed with the Internal Revenue Service Federal tax or information returns with respect to each the REMIC Trust and the Certificates containing such information and at the times and in such manner as may be required by the Code or applicable Treasury regulations, and shall furnish to Owners such statements or information at the times and in such manner as may be required thereby. For this purpose, the Tax Matters Person may, but need not, rely on any proposed regulations of the United States Department of the Treasury. The Tax Matters Person shall indicate the election to treat each the REMIC Trust as a REMIC (which election shall apply to the taxable period ending December 31, 1996 and each calendar year thereafter) in such manner as the Code or applicable Treasury regulations may prescribe. The Trustee, as Tax Matters Person appointed pursuant to Section 12.17 11.17 hereof shall sign all tax information returns filed pursuant to this Section 12.1611.15. The Tax Matters Person shall provide information necessary for the computation of tax imposed on the transfer of a Residual Class R Certificate to a Disqualified Organization, or an agent of a Disqualified Organization, or a pass-through entity in which a Disqualified Organization is the record holder of an interest. The Tax Matters Person shall provide the Trustee shall not with copies of any Federal tax or information returns filed, or caused to be required filed, by the Tax Matters Person with respect to file a separate tax return for the Supplemental Interest TrustREMIC Trust or the Certificates.

REMIC Status; Taxes. (a) The Tax Matters Person shall prepare and file or cause to be filed with the Internal Revenue Service Federal tax or information returns with respect to each the REMIC Trust and the Certificates containing such information and at the times and in such manner as may be required by the Code or applicable Treasury regulations, and shall furnish to Owners such statements or information at the times and in such manner as may be required thereby. For this purpose, the Tax Matters Person may, but need not, rely on any proposed regulations of the United States Department of the Treasury. The Tax Matters Person shall indicate the election to treat each the REMIC Trust as a REMIC (which election shall apply to the taxable period ending December 31, 1996 and each calendar year thereafter) in such manner as the Code or applicable Treasury regulations may prescribe. The Trustee, as Tax Matters Person appointed pursuant to Section 12.17 11.17 hereof shall sign all tax information returns filed pursuant to this Section 12.1611.15. The Tax Matters Person shall provide information necessary for the computation of tax imposed on the transfer of a Residual Class RS Certificate to a Disqualified Organization, or an agent of a Disqualified Organization, or a pass-through entity in which a Disqualified Organization is the record holder of an interest. The Tax Matters Person shall provide the Trustee shall not with copies of any Federal tax or information returns filed, or caused to be required filed, by the Tax Matters Person with respect to file a separate tax return for the Supplemental Interest TrustREMIC Trust or the Certificates.

REMIC Status; Taxes. (a) The Tax Matters Person ------------------- shall prepare and file or cause to be filed with the Internal Revenue Service Federal tax or information returns with respect to each REMIC and the Certificates containing such information and at the times and in such manner as may be required by the Code or applicable Treasury regulations, and shall furnish to Owners such statements or information at the times and in such manner as may be required thereby. For this purpose, the Tax Matters Person may, but need not, rely on any proposed regulations of the United States Department of the Treasury. The Tax Matters Person shall indicate the election to treat each REMIC as a REMIC (which election shall apply to the taxable period ending December 31, 1996 and each calendar year thereafter) in such manner as the Code or applicable Treasury regulations may prescribe. The Trustee, as Tax Matters Person appointed pursuant to Section 12.17 10.18 hereof shall sign all tax information returns filed pursuant to this Section 12.1610.16. The Tax Matters Person shall provide information necessary for the computation of tax imposed on the transfer of a Residual Certificate to a Disqualified Organization, or an agent of a Disqualified Organization, or a pass-through entity in which a Disqualified Organization is the record holder of an interest. The Trustee shall not be required to file a separate tax return for the Supplemental Interest Trust.

REMIC Status; Taxes. (a) The Tax Matters Person ------------------- shall prepare and file or cause to be filed with the Internal Revenue Service Federal tax or information returns with respect to each REMIC and the Certificates containing such information and at the times and in such manner as may be required by the Code or applicable Treasury regulations, and shall furnish to Owners Holders such statements or information at the times and in such manner as may be required thereby. For this purpose, the Tax Matters Person may, but need not, rely on any proposed regulations of the United States Department of the Treasury. The Tax Matters Person shall indicate the election to treat each REMIC as a REMIC (which election shall apply to the taxable period ending December 31, 1996 1997 and each calendar year thereafter) in such manner as the Code or applicable Treasury regulations may prescribe. The Trustee, as Tax Matters Person appointed pursuant to Section 12.17 10.18 hereof shall sign all tax information returns filed pursuant to this Section 12.1610.16. The Tax Matters Person shall provide information necessary for the computation of tax imposed on the transfer of a Residual Certificate to a Disqualified Organization, or an agent of a Disqualified Organization, or a pass-through entity in which a Disqualified Organization is the record holder of an interest. The Trustee shall not be required to file a separate tax return for the Supplemental Interest Trust.

REMIC Status; Taxes. (a) The Tax Matters Person shall prepare and file or cause to be filed with the Internal Revenue Service Federal federal tax or information returns with respect to each REMIC the Trust and the Certificates containing such information and at the times and in such manner as may be required by the Code or applicable Treasury regulations, regulations and shall furnish to Owners such statements or information at the times and in such manner as may be required thereby. For this purpose, the Tax Matters Person may, but need not, rely on any proposed regulations of the United States Department of the Treasury. The Tax Matters Person shall indicate the election to treat each REMIC the Trust as a REMIC (which election shall apply to the taxable period ending December 31, 1996 1997 and each calendar year thereafter) in such manner as the Code or applicable Treasury regulations may prescribe. The TrusteeFirst Alliance Residual Holding Company, as Tax Matters Person appointed pursuant to Section 12.17 hereof 11.17 hereof, shall sign all tax information returns filed pursuant to this Section 12.1611.15. The Tax Matters Person shall provide information necessary for the computation of tax imposed on the transfer of a Residual Class R Certificate to a Disqualified Organization, or an agent of a Disqualified Organization, Organization or a pass-through entity in which a Disqualified Organization is the record holder of an interest. The Tax Matters Person shall provide the Trustee shall not with copies of any Federal tax or information returns filed, or caused to be required filed, by the Tax Matters Person with respect to file a separate tax return for the Supplemental Interest TrustTrust or the Certificates.

REMIC Status; Taxes. (a) The Tax Matters Person shall prepare and file or cause to be filed with the Internal Revenue Service Federal tax or information returns with respect to each the REMIC Trust and the Certificates containing such information and at the times and in such manner as may be required by the Code or applicable Treasury regulations, and shall furnish to Owners such statements or information at the times and in such manner as may be required thereby. For this purpose, the Tax Matters Person may, but need not, rely on any proposed regulations of the United States Department of the Treasury. The Tax Matters Person shall indicate the election to treat each the REMIC Trust as a REMIC (which election shall apply to the taxable period ending December 31, 1996 and each calendar year thereafter) in such manner as the Code or applicable Treasury regulations may prescribe. The Trustee, as Tax Matters Person appointed pursuant to Section 12.17 11.17 hereof shall sign all tax information returns filed pursuant to this Section 12.1611.15. The Tax Matters Person shall provide information necessary for the computation of tax imposed on the transfer of a Residual Class R Certificate to a Disqualified Organization, or an agent of a Disqualified Organization, or a pass-through entity in which a Disqualified Organization is the record holder of an interest. The Tax Matters Person shall provide the Trustee shall not with copies of any Federal tax or information returns filed, or caused to be required filed, by the Tax Matters Person with respect to file a separate tax return for the Supplemental Interest TrustREMIC Trust or the Certificates.