Examples of Class H Grantor Trust in a sentence
Excess Interest received on the Mortgage Loans shall be held in the Class H Grantor Trust for the benefit of the Holders of the Class H Certificates.
Under no circumstances may the Certificate Administrator vary the assets of the Class H Grantor Trust so as to take advantage of variations in the market so as to improve the rate of return of Holders of the Class H Certificates.
The Certificate Administrator shall perform all reporting and other tax compliance duties that are the responsibility of each REMIC Pool and the Class H Grantor Trust under the Code, REMIC Provisions, or other compliance guidance issued by the Internal Revenue Service or any state or local taxing authority.
The Master Servicer shall act in accordance with this Agreement and the REMIC Provisions and related provisions of the Code in order to create or maintain the status of any REMIC Pool as a REMIC and the Class H Grantor Trust created hereby as a grantor trust under the Code.
No such amendment effected pursuant to clause (i), (ii) or (iv) of the preceding sentence shall (A) adversely affect in any material respect the interests of any Certificateholder not consenting thereto without the consent of 100% of the Certificateholders (if adversely affected) or (B) adversely affect the status of any REMIC Pool as a REMIC (or of the Class H Grantor Trust as a grantor trust) for purposes of federal income tax law (or comparable provisions of state income tax law).
The provisions of this Article XII shall apply to each REMIC Pool and the Class H Grantor Trust, as applicable.
The Certificate Administrator shall be deemed to hold and shall account for each of the Class H Grantor Trust separate and apart from the assets of REMIC I, REMIC II and REMIC III created hereunder.
The Certificate Administrator shall be deemed to hold and shall account for the assets of the Class H Grantor Trust separate and apart from the assets of REMIC I, REMIC II and REMIC III created hereunder.
Assets held in the Grantor Trust, consisting of the right to any Excess Interest in respect of the ARD Mortgage Loans and the Excess Interest Sub-account, shall be held by the Certificate Administrator on behalf of the Trustee for the benefit of the Holders of the Class H Grantor Trust Interest, represented by the 375 Class H Certificates, which Class H Certificates, in the aggregate, shall evidence 100% beneficial ownership of such assets from and after the Closing Date.
The Master Servicer shall on a timely basis provide the Certificate Administrator with such information concerning the Mortgage Loans as is necessary for the preparation of the tax or information returns or receipts of each REMIC Pool and the Class H Grantor Trust as the Certificate Administrator may reasonably request from time to time, including, without limitation, any information with respect to withholding tax obligations in respect of the Tx Xxxxxx Hotels & Resorts Portfolio Mortgage Loan.