Examples of Class OC Certificates in a sentence
Any such amounts transferred shall be treated for federal tax purposes as amounts distributed to the Holders of the Class OC Certificates.
For purposes of compliance with the REMIC Provisions, any such Released Mortgage Loan transferred to the Released Mortgage Transferee pursuant to this Section 7.04 and having any value as of the date of such transfer shall be treated as having been transferred by the related REMIC as additional compensation for services provided to such REMIC and if no such services were provided, as an additional distribution to the Class OC Certificates.
All such Permitted Investments shall be made in the name of the Trustee, for the benefit of the Holders of the Class OC Certificates.
The Class OC Certificates shall evidence ownership of the Basis Risk Carry Forward Reserve Fund for federal tax purposes.
The Holders of the Class OC Certificates shall be the owner of the Basis Risk Carry Forward Reserve Fund.
For purposes of the Code, amounts deemed deposited in the Basis Risk Carry Forward Reserve Fund shall be deemed to have first been distributed to the Class OC Certificates.
On the Distribution Date on which the termination of the Certificates occurs pursuant to Section 7.02, after making all distributions required in connection with the Certificates, the Securities Administrator shall withdraw from the Basis Risk Carry Forward Reserve Fund (to the extent of funds available on deposit therein) any remaining amounts and distribute them to the Holders of the Class OC Certificates.
For purposes of the Code, amounts deemed deposited in the Reserve Fund shall be deemed to have first been distributed to the Class OC Certificates.
On the Distribution Date on which the termination of the Certificates occurs pursuant to Section 7.02, after making all distributions required in connection with the Certificates, the Securities Administrator shall withdraw from the Reserve Fund (to the extent of funds available on deposit therein) any remaining amounts and distribute them to the Holders of the Class OC Certificates.
The Class OC Certificates shall evidence ownership of the Reserve Fund for federal tax purposes.