Tax Event and Tax Event Upon Merger. Section 5(b)(ii) will apply, provided that the words “(x) any action taken by a taxing authority, or brought in a court of competent jurisdiction, on or after the date on which a Transaction is entered into (regardless of whether such action is taken or brought with respect to a party to this Agreement) or (y)” shall be deleted. Section 5(b)(iii) will apply, provided that Party A shall not be entitled to designate an Early Termination Date by reason of a Tax Event Upon Merger in respect of which it is the Affected Party. Section 6(b)(ii) will apply, provided that the words “or if a Tax Event Upon Merger occurs and the Burdened Party is the Affected Party” shall be deleted.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-Nc3), Assignment and Recognition Agreement (MASTR Asset Backed Securities Trust 2006-He5), MASTR Adjustable Rate Mortgages Trust 2007-1
Tax Event and Tax Event Upon Merger. Section 5(b)(ii) will apply, ; provided that the words “(x) any action taken by a taxing authority, or brought in a court of competent jurisdiction, on or after the date on which a Transaction is entered into (regardless of whether such action is taken or brought with respect to a party to this Agreement) or (y)” shall be deleted. Section 5(b)(iii) will apply, provided that Party A shall not be entitled to designate an Early Termination Date by reason of a Tax Event Upon upon Merger in respect of which it is the Affected Party. Section 6(b)(ii) will apply, provided that the words “or if a Tax Event Upon Merger occurs and the Burdened Party is the Affected Party” shall be deleted.
Appears in 3 contracts
Samples: Master Agreement (NovaStar Certificates Financing CORP), Master Agreement (NovaStar Certificates Financing CORP), Master Agreement (NovaStar Certificates Financing CORP)
Tax Event and Tax Event Upon Merger. Section 5(b)(ii) will apply, provided that the words “(x) any action taken by a taxing authority, or brought in a court of competent jurisdiction, on or after the date on which a Transaction is entered into (regardless of whether such action is taken or brought with respect to a party to this Agreement) or (y)” shall be are hereby deleted. Section 5(b)(iii) will apply, provided that Party A shall will not be entitled to designate an Early Termination Date by reason of a Tax Event Upon Merger in respect of which it is the Affected Party. Section 6(b)(ii) will apply, provided that the words “or if a Tax Event Upon Merger occurs and the Burdened Party is the Affected Party” shall be are hereby deleted.
Appears in 1 contract
Samples: Isda Master Agreement (Ford Credit Auto Owner Trust 2007-A)
