Common use of Tax Status and Reporting Clause in Contracts

Tax Status and Reporting. (a) It is the intended that the Trust Fund created hereunder be considered a “grantor trust” under the Code and a WHFIT that is a WHMT. The Trustee will report as required under the WHFIT Regulations to the extent such information as is reasonably necessary to enable the Trustee to do so is provided to the Trustee on a timely basis. The Trustee can assume that the DTC is the only middleman listed as the registered holder for the related Certificates. The Trustee shall not be liable for any tax reporting penalties that may arise under the WHFIT Regulations as a result of the Depositor incorrectly determining the status of the Trust Fund as a WHFIT.

Tax Status and Reporting. (a) It is the intended that the Trust Fund created hereunder be considered a “grantor trust” under the Code and a WHFIT that is a WHMT. The Trustee Trust Administrator will report as required under the WHFIT Regulations to the extent such information as is reasonably necessary to enable the Trustee Trust Administrator to do so is provided to the Trustee Trust Administrator on a timely basis. The Trustee Trust Administrator can assume that the DTC is the only middleman listed as the registered holder for the related Certificates. The Trustee Trust Administrator shall not be liable for any tax reporting penalties that may arise under the WHFIT Regulations as a result of the Depositor incorrectly determining the status of the Trust Fund as a WHFIT.