Grantor Trust definition

Grantor Trust means a Trust other than a RIC.

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Grantor Trust. A segregated asset pool within the Trust Fund, which at all times shall be treated as a “grantor trust” under the Grantor Trust Provisions, consisting of the VRR Specific Grantor Trust Assets, the Class S Specific Grantor Trust Assets and the Excess Interest Distribution Account, beneficial ownership of which is represented by the Grantor Trust Certificates.

Grantor Trust. A grantor trust as defined under subpart E of part 1 of subchapter J of the Code.

Examples of Grantor Trust in a sentence

• The portions of the Trust Fund consisting of the Class S Specific Grantor Trust Assets shall be classified as a trust under Treasury Regulations Section 301.7701-4, and the holders of the Certificates representing beneficial ownership interests in such assets and cash flows shall be treated as the owners of such assets and cash flows for federal income tax purposes under Section 671 of the Code (such a trust, the “Grantor Trust”).

• As provided herein, the Certificate Administrator shall not take any actions that would cause the Grantor Trust (i) to fail to maintain its status as a grantor trust under the Code or (ii) to be treated as part of either Trust REMIC.

• In addition, the portion of the Trust Fund consisting of the entitlement to Excess Interest and amounts in the Excess Interest Distribution Account shall be treated as a grantor trust (the “Grantor Trust”) for federal income tax purposes, and the Class S Certificates will represent undivided beneficial interests in the Grantor Trust.

• In furtherance of such intention, neither the Trustee nor the Certificate Administrator shall have the power to vary the investment of the Holders of the Class S Certificates in the Grantor Trust so as to improve their rate of return.

• The Trustee hereby acknowledges the assignment to it of the Mortgage Loans and, subject to Section 2.01 and Section 2.02, the delivery to the Custodian of the Mortgage Files and a fully executed original counterpart of each of the Mortgage Loan Purchase Agreements, together with the assignment to it of all of the other assets included in the Lower-Tier REMIC and the Grantor Trust.

More Definitions of Grantor Trust

Grantor Trust. As specified in the Preliminary Statement.

Grantor Trust. That certain "grantor trust" (within the meaning of the Grantor Trust Provisions), the assets of which are the Grantor Trust Assets.

Grantor Trust. A segregated asset pool within the Trust Fund treated as a “grantor trust” under subpart E, part I of subchapter J of the Code, consisting of the assets described in the Preliminary Statement hereto.

Grantor Trust. A segregated asset pool within the Trust Fund consisting of (i) the Excess Interest and (ii) the Excess Interest Distribution Account and all funds and assets held from time to time on deposit in the Excess Interest Distribution Account.

Grantor Trust means a grantor trust under Subpart E of Part 1 of Subchapter J of the Code.

Grantor Trust has the meaning set forth in the Preliminary Statement hereto.

Grantor Trust. A trust described in Section 671 of the Code, the items of income, deductions and credits of which must be included in computing the taxable income and credits of the person treated as the owner of such trust (either the grantor or other person designated under the Code).