Taxable Mortgage Pool Clause Samples
A Taxable Mortgage Pool clause defines the circumstances under which a trust or entity holding mortgage loans may be classified as a "taxable mortgage pool" for federal income tax purposes. This clause typically outlines the criteria that trigger such classification, such as the types of assets held and the structure of the entity, and may specify the tax consequences for investors or certificate holders if the entity is deemed a taxable mortgage pool. Its core function is to inform parties of potential tax liabilities and compliance requirements, thereby helping them understand and manage the tax risks associated with mortgage-backed securities.
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Taxable Mortgage Pool. Neither the Company nor any of its assets will be treated as a taxable mortgage pool.
Taxable Mortgage Pool. Neither the Company nor any of its subsidiaries or asset pools is treated as a taxable mortgage pool within the meaning of Section 7701(i) of the Code.
Taxable Mortgage Pool. The Collateral Manager shall not permit the sum of the outstanding principal balances of all Collateral Loans owned by the Borrower and that are principally secured by an interest in real property (within the meaning of Treasury Regulation Section 301.7701(i)-1(d)(3)) to exceed 40% of the Principal Balance of all Collateral Loans owned by the Borrower.
Taxable Mortgage Pool. At no time shall the Company or its assets be treated as a taxable mortgage pool.
Taxable Mortgage Pool. To the knowledge of the Company, neither the Company, any of its subsidiaries nor any of their assets will be treated as a taxable mortgage pool.
Taxable Mortgage Pool. The consummation of the transactions contemplated by this Agreement and the other Transaction documents do not and will not cause the Borrower to be classified as a taxable mortgage pool within the meaning of Section 7701(i) of the Code.
Taxable Mortgage Pool. Neither the Company nor any of its assets is, nor after application of the net proceeds from the Offered Shares as described in the Prospectus will be, treated as a taxable mortgage pool.
Taxable Mortgage Pool. At no time within one year after this Agreement shall the Company or its assets be treated as a taxable mortgage pool.
Taxable Mortgage Pool. The Servicer shall not permit the sum of the outstanding principal balances of all Collateral Loans owned by the Borrower and that are principally secured by an interest in real property (within the meaning of Treasury Regulation Section 301.7701(i)-1(d)(3)) to exceed 40% of the Principal Balance of all Collateral Loans owned by the Borrower.
Taxable Mortgage Pool. The Servicer shall manage the Loan Pool such that no more than 35% of the Aggregate Outstanding Loan Balance of Loans owned by the Issuer at any time shall consist of Loans principally secured by real property.