Y S T A T E M E N T Clause Samples
Y S T A T E M E N T. The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. As provided in this Agreement, the Trustee shall elect that the Trust Fund (exclusive of any amounts in respect of waived Prepayment Charges paid by the Servicer to the Class P Certificates pursuant to Section 3.20(b) and any amounts in respect of waived Late Payment Fees paid by the Servicer to the Class L Certificates pursuant to Section 3.21(b)) be treated for federal income tax purposes as comprising three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, “REMIC 1,” “REMIC 2” and the “Master REMIC”). Each Certificate, other than the Class A-R and Class L Certificates, will represent ownership of one or more regular interests in the Master REMIC for purposes of the REMIC Provisions. The Class A-R represents ownership of the sole class of residual interest in each REMIC created under this Agreement. The Master REMIC will hold as assets the several classes of uncertificated REMIC 2 Interests (other than the Class R-2 Interest). REMIC 2 will hold as assets the several classes of uncertificated REMIC 1 Interests (other than the Class R-1 Interest). REMIC 1 will hold as assets all property of the Trust Fund. Each REMIC 2 Interest (other than the Class R-2 Interest) is hereby designated as a regular interest in REMIC 2. Each REMIC 1 Interest (other than the Class R-1 Interest) is hereby designated as a regular interest in REMIC 1. The latest possible maturity date of all REMIC regular interests created in this Agreement shall be the Latest Possible Maturity Date. All amounts in respect of waived Prepayment Charges paid by the Servicer to the Class P Certificates pursuant to Section 3.20(b) will be treated as paid directly by the Servicer to the Class P Certificates and not as paid by or through any REMIC created under this Agreement. All amounts in respect of waived Late Payment Fees paid by the Servicer to the Class L Certificates will be treated as paid directly by the Servicer to the Class L Certificates pursuant to Section 3.21(b) and not as paid by or through any REMIC created under this Agreement or by or through the Grantor Trust described in this Agreement.
Y S T A T E M E N T. The Company desires to retain the Executive to serve as its Co-Chairman of the Board ("Co-Chairman") and President for such period as the Company and the Executive mutually desire and thereafter as a consultant to the Company, and the Executive desires to be retained by the Company in such capacities.
Y S T A T E M E N T. A. Exchangor and Purchaser entered into that certain Purchase and Sale Agreement dated September 30, 2005, governing the sale of certain property located at ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, whereby Intermediary is to sell and Purchaser is to purchase the Property identified therein.
Y S T A T E M E N T. The Company has heretofore granted to Executive the right and option (the "Option") to acquire 75,000 shares of the Company's common stock, $.01 par value (the "Pledged Shares") in exchange for payment of an exercise price of $4.50 per share (the "Exercise Price").
Y S T A T E M E N T. A. Seller and Purchaser entered into that certain Purchase and Sale Agreement dated September 30, 2005, governing the sale of certain property located at ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, a copy of which is attached hereto as Exhibit A and is incorporated herein by this reference, whereby Seller is to Sell and Purchaser is to purchase the Property identified therein (the “Contract”);
Y S T A T E M E N T. The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. As provided in this Agreement, the Trustee shall elect that the Trust Fund (exclusive of the Supplemental Interest Trust, the Supplemental Reserve Fund and Carryover Reserve Fund, and any amounts in respect of waived Prepayment Charges paid by the Servicer to the Class P Certificates pursuant to the Section 3.20(b) and any amounts in respect of waived Late Payment Fees paid by the Servicer to the Class L Certificates) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “
Y S T A T E M E N T. The Company has requested that the Banks extend a credit facility to the Company in order to enable the Company to borrow on a revolving credit basis on and after the date hereof, on the terms and conditions set forth herein, a principal amount not in excess of $600,000,000. The Banks are willing to extend such credit to the Company on the terms and subject to the conditions herein set forth. Accordingly, the Company, the Banks and the Administrative Agent agree as follows:
Y S T A T E M E N T. The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. For federal income tax purposes, the Trust Fund will consist of two REMICs (the “Subsidiary REMIC” and the “Master REMIC”). Each Certificate, other than the Class A-R Certificate, will represent ownership of one or more regular interests in the Master REMIC for purposes of the REMIC Provisions. The Class A-R Certificate represents ownership of the sole class of residual interest in each of the Subsidiary REMIC and the Master REMIC. The Master REMIC will hold as assets the several classes of uncertificated Subsidiary REMIC Interests (other than the Class R-1 Interest) and the Subsidiary REMIC will hold as assets all property of the Trust Fund. For federal income tax purposes, each Subsidiary REMIC Interest (other than the Class R-1 Interest) is hereby designated as a regular interest in the Subsidiary REMIC and each Certificate (other than the Class A-R Certificate) is hereby designated as a regular interest in the Master REMIC. The latest possible maturity date of all REMIC regular interests created herein shall be the Latest Possible Maturity Date.
Y S T A T E M E N T. The Lender has made available to the Borrowers a loan in the principal sum of Four Million Dollars ($4,000,000.00) (the “Loan”).