Common use of Status of Trust Clause in Contracts

Status of Trust. For federal income tax purposes, the Trust formed under this Trust Agreement will be treated as a grantor trust under Subpart E, Part I of Subchapter J of the Code and not as an association taxable as a corporation. The Trustee and the Certificateholders shall take any action or cause the Trust to take any action necessary to create and maintain the status of the Trust as a grantor trust for federal income tax purposes and shall assist each other as necessary to create or maintain such status.

Status of Trust. For federal income tax purposes, the Trust formed under this Trust Agreement will be treated as a grantor trust under Subpart E, Part I of Subchapter J of the Code and not as an association taxable as a corporation. The Trustee and the Certificateholders shall take any action or cause the Trust to take any action necessary to create and maintain the status of the Trust as a grantor trust for federal income tax purposes and shall assist each other as necessary to create or maintain such status. None of the provisions of this Trust Agreement shall be interpreted in a manner that is inconsistent with such treatment and status.

Status of Trust. For The Trustee and the Certificateholders intend that, for federal income tax purposes, the Trust formed under this Trust Agreement will be treated as a grantor trust under Subpart E, Part I of Subchapter J of the Code and not as an association taxable as a corporation. The Trustee and the Certificateholders shall take any action or cause the Trust to take any action necessary to create and maintain the status of the Trust as a grantor trust for federal income tax purposes and shall assist each other as necessary to create or maintain such status.