Common use of Tax Treatment of Class P Certificates Clause in Contracts

Tax Treatment of Class P Certificates. It is the intent of the parties hereto that the segregated pool of assets consisting of any collections in respect of the Class P Distributable Amount payable to Class P Certificates constitutes, for federal income tax purposes, a grantor trust as described in Subpart E of Part I of Subchapter J of the Code and Treasury Regulation §301.7701-4(c)(2). The Trustee shall prepare, sign and file all of the tax returns in respect of each such grantor trust. The expenses of preparing and filing such returns shall be borne by the Trustee without any right of reimbursement therefor. The Trustee shall comply with each such requirement by filing Form 1041 or other applicable form.

Tax Treatment of Class P Certificates. It is the intent of the parties hereto that the segregated pool of assets consisting of any collections in respect of the Class P Distributable Amount Prepayment Premiums payable to Class P Certificates constitutesconstitute, for federal income tax purposes, a grantor trust as described in Subpart E of Part I of Subchapter J of the Code and Treasury Regulation §301.7701-4(c)(2). The Trustee shall prepare, sign file and file sign, all of the federal income tax returns in respect of each such grantor trust. The expenses of preparing and filing such returns shall be borne by the Trustee without any right of reimbursement therefor. The Trustee shall comply with each such requirement by filing Form 1041 or other applicable form.

Tax Treatment of Class P Certificates. It is the intent of the parties hereto that the segregated pool of assets consisting of any collections in respect of the Class P Distributable Amount Prepayment Premiums payable to Class P Certificates constitutesconstitute, for federal income tax purposes, a grantor trust as described in Subpart E of Part I of Subchapter J of the Code and Treasury Regulation §301.7701-4(c)(2). The Trustee shall prepare, sign file and file sign, all of the tax returns in respect of each such grantor trust. The expenses of preparing and filing such returns shall be borne by the Trustee without any right of reimbursement therefor. The Trustee shall comply with each such requirement by filing Form 1041 or other applicable form1041.

Tax Treatment of Class P Certificates. It is the intent of the parties hereto that the segregated pool of assets consisting of any collections in respect of the Class P Distributable Amount payable to Class P Certificates constitutesconstitute, for federal income tax purposes, a grantor trust as described in Subpart E of Part I of Subchapter J of the Code and Treasury Regulation §301.7701-4(c)(2). The Trustee shall prepare, sign and file file, all of the tax returns in respect of each such grantor trust. The expenses of preparing and filing such returns shall be borne by the Trustee without any right of reimbursement therefor. The Trustee shall comply with each such requirement by filing Form 1041 or other applicable form.

Tax Treatment of Class P Certificates. It is the intent of the parties hereto that the segregated pool of assets consisting of any collections in respect of the Class P Distributable Amount payable to Class P Certificates constitutes, for federal income tax purposes, a grantor trust as described in Subpart E of Part I of Subchapter J of the Code and Treasury Regulation §301.7701-4(c)(2). The Trustee shall prepare, sign and file all of the tax returns in respect of each such grantor trust. The expenses of preparing and filing such returns shall be borne by the Trustee without any right of reimbursement therefor. The Trustee shall comply with each such requirement by filing Form 1041 or other applicable form. .

Tax Treatment of Class P Certificates. It is the intent of the parties hereto that the segregated pool of assets consisting of any collections in respect of the Class P Distributable Amount Prepayment Penalty Amounts payable to Class P Certificates constitutesconstitute, for federal income tax purposes, a grantor trust as described in Subpart E of Part I of Subchapter J of the Code and Treasury Regulation §301.7701-4(c)(2). The Trustee shall prepare, sign file and file sign, all of the tax returns in respect of each such grantor trust. The expenses of preparing and filing such returns shall be borne by the Trustee without any right of reimbursement therefor. The Trustee shall comply with each such requirement by filing Form 1041 or other applicable form1041.

Tax Treatment of Class P Certificates. It is the intent of the parties hereto that the segregated pool of assets consisting of any collections in respect of the Class P Distributable Amount Prepayment Penalty Amounts payable to Class P Certificates constitutesconstitute, for federal income tax purposes, a grantor trust as described in Subpart E of Part I of Subchapter J of the Code and Treasury Regulation §301.7701-4(c)(2). The Trustee shall prepare, sign file and file sign, all of the federal income tax returns in respect of each such grantor trust. The expenses of preparing and filing such returns shall be borne by the Trustee without any right of reimbursement therefor. The Trustee shall comply with each such requirement by filing Form 1041 or other applicable form.

Tax Treatment of Class P Certificates. It is the intent of the parties hereto that the segregated pool of assets consisting of any collections in respect of the Class P Distributable Amount Prepayment Penalty Amounts payable to Class P Certificates constitutesconstitute, for federal income tax purposes, a grantor trust as described in Subpart E of Part I of Subchapter J of the Code and Treasury Regulation §301.7701-4(c)(2). The Trustee shall prepare, sign and file all of the tax returns in respect of each such grantor trust. The expenses of preparing and filing such returns shall be borne by the Trustee without any right of reimbursement therefor. The Trustee shall comply with each such requirement by filing Form 1041 or other applicable form1041.

Tax Treatment of Class P Certificates. It is the intent of the parties hereto that the segregated pool of assets consisting of any collections in respect of the Class P Distributable Amount payable to Class P Certificates constitutes, for federal income tax purposes, a grantor trust as described in Subpart E of Part I of Subchapter J of the Code and Treasury Regulation §301.7701-4(c)(2). The Trustee shall prepare, sign and file all of the tax returns in respect of each such grantor trust. The expenses of preparing and filing such returns shall be borne by the Trustee without any right of reimbursement therefortherefore. The Trustee shall comply with each such requirement by filing Form 1041 or other applicable form.