Grantor Trust definition

Grantor Trust means a Trust other than a RIC.

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

• Accordingly, there will not be a Grantor Trust and all references in this Agreement to “Grantor Trust” shall be disregarded.

• For the avoidance of doubt, no Class VRR Certificates or Class S Certificates will be issued under this Agreement, and there are no VRR Specific Grantor Trust Assets and no Class S Specific Grantor Trust Assets, no Grantor Trust shall be established hereunder.

• As provided herein, the Certificate Administrator will elect that various segregated portions of the Trust Fund (other than any VRR Specific Grantor Trust Assets and any Class S Specific Grantor Trust Assets) be treated for federal income tax purposes as two separate REMICs designated as the “Upper-Tier REMIC” and the “Lower-Tier REMIC”, respectively, and a separate REMIC in connection with each Trust Subordinate Companion Loan, if any, each designated as a “Trust Subordinate Companion Loan REMIC”.

• However, because the Trust Fund will not include ARD Mortgage Loans as of the Closing Date, there will not be any VRR Specific Grantor Trust Assets or Class S Specific Grantor Trust Assets, and no Excess Interest Distribution Account will be established.

• The Depositor hereby conveys all right, title and interest in and to any VRR Specific Grantor Trust Assets, any Class S Specific Grantor Trust Assets and any other property constituting the Grantor Trust to the Trustee, receipt of which is hereby acknowledged.

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 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. 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 Excess Interest and amounts held from time to time in the Excess Interest Distribution Account, beneficial ownership of which is represented by the Class NR Certificates, as further described in Section 4.07.

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).