Grantor Trust Fund definition

Grantor Trust Fund. The segregated pool of assets subject hereto, consisting of (i) the Releaseed Loans and (ii) any recoveries on the Released Loans. For federal income tax purposes, the Grantor Trust Fund will not be an asset of any REMIC.
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Grantor Trust Fund means the trust fund established with the Grantor Trustee for the purpose of providing benefits under the Plan.
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Examples of Grantor Trust Fund in a sentence

  • The Certificateholder, by its acceptance of this Certificate, agrees that it will look solely to the Grantor Trust Fund for payment hereunder and that the Grantor Trustee and the Securities Administrator are not liable to the Certificateholders for any amount payable under this Certificate or the Agreement or, except as expressly provided in the Agreement, subject to any liability under the Agreement.

  • It is also intended that the Grantor Trust Fund be classified (for Federal tax purposes) as a grantor trust under subpart E, part I of subchapter J of chapter 1 of the Code, of which the Certificateholders are owners, rather than as an association taxable as a corporation.

  • The Grantor Trust Fund was created pursuant to the Grantor Trust Agreement dated as specified above (the “Agreement”), between MLMI, as seller (the “Seller”), Wachovia Bank, National Association, as grantor trustee (the “Grantor Trustee”) and ▇▇▇▇▇ Fargo Bank, N.A., as securities administrator (the “Securities Administrator”), a summary of certain of the pertinent provisions of which is set forth hereafter.

  • In no event, however, will the Grantor Trust Fund created by the Agreement continue beyond the expiration of 21 years after the death of certain persons identified in the Agreement.

  • The Certificates, in the aggregate, evidence the entire beneficial ownership interest in the Grantor Trust Fund formed pursuant to the Agreement.

  • This Certificate is payable solely from the assets of the Grantor Trust Fund, and does not represent an obligation of or interest in ▇▇▇▇▇▇▇ ▇▇▇▇▇ Mortgage Investors, Inc.

  • The Grantor Trustee on behalf of the Grantor Trust shall make an election for the assets constituting the Grantor Trust Fund to be treated for federal income tax purposes as a grantor trust.

  • Concurrently with such delivery and in exchange therefor, the Grantor Trustee, pursuant to the written request of the Depositor executed by an officer of the Depositor has executed and caused to be authenticated and delivered to or upon the order of the Depositor the Grantor Trust Certificate, which evidences the entire beneficial ownership of the Grantor Trust Fund.

  • In no event shall the Grantor Trustee or any other person have any power to vary the investment of the Grantor Trust Certificateholder in the Grantor Trust Certificate or to substitute new investments or reinvest so as to enable the Grantor Trust Fund to take advantage of variations in the market to improve the investment of the Grantor Trust Certificateholder in the Grantor Trust Certificate.

  • Any duplicate Grantor Trust Certificate issued pursuant to this Section shall constitute complete and indefeasible evidence of ownership in the Grantor Trust Fund, as if originally issued, whether or not the lost, stolen or destroyed Grantor Trust Certificate shall be found at any time.