The Interest Rate Cap Agreements. (a) The Interest Rate Cap Agreements will be an asset of the Trust but will not be an asset of any REMIC and any amounts received thereon shall be taxable to the Class BIO Certificateholder. The Trustee shall treat the Interest Rate Cap Agreements as having a nominal (zero) value for the Holders of the Offered Certificates.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Renaissance Mort Accept Corp Home Eq Ln as Bk Cer Se 03 1), Pooling and Servicing Agreement (Renaissance Mort Accept Corp Home Equity Ln as Bk Ce Se 03-3), Custodial Agreement (Renaissance Home Equity Loan Tr Asset BKD Cer Ser 2002-4)
The Interest Rate Cap Agreements. (a) The Interest Rate Cap Agreements will be an asset of the Trust a separate trust but will not be an asset of any REMIC and any amounts received thereon shall be taxable to the Class BIO Certificateholder. The Trustee shall treat the Interest Rate Cap Agreements as having a nominal (zero) value for the Holders of the Offered Certificates.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Delta Financial Corp), Pooling and Servicing Agreement (Renaissance Mort Acc Corp Renaissance Home Eq Ln Tr 2004 1)
