Grantor Trust Z definition

Grantor Trust Z. That certain "grantor trust" (within the meaning of the Grantor Trust Provisions), the assets of which consist of any Additional Interest with respect to the Trust ARD Loans and any successor Trust REO Loans after their respective Anticipated Repayment Dates and amounts held from time to time in the Collection Account and/or the Additional Interest Account that represent Additional Interest.
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Grantor Trust Z. That certain "grantor trust" (within the meaning of the Grantor Trust Provisions), the assets of which consist of any Additional Post-ARD Interest collected on any Trust ARD Loans and any successor Trust REO Loans with respect thereto after their respective Anticipated Repayment Dates and amounts held from time to time in the Collection Accounts and/or the Additional Post-ARD Interest Account that represent such collections of Additional Post-ARD Interest; provided that Grantor Trust Z will be created only if the Trust Fund includes Trust ARD Loans.
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Examples of Grantor Trust Z in a sentence

  • The other parties hereto shall provide on a timely basis to the REMIC Administrator or its designee such information with respect to Grantor Trust Z and Grantor Trust E as is in its possession and reasonably requested by the REMIC Administrator to enable it to perform its obligations under this Section 10.02.

  • In addition, prior to taking any action with respect to either of Grantor Trust Z or Grantor Trust E or causing the Trust Fund to take any action that is not expressly permitted under the terms of this Agreement, the Master Servicer and the Special Servicer shall consult with the REMIC Administrator or its designee, in writing, with respect to whether such action could cause an Adverse Grantor Trust Event to occur.

  • As provided herein, the Trustee shall take all actions reasonably necessary to ensure that each of the respective portions of the Trust Fund consisting of Grantor Trust Z and Grantor Trust E, respectively, maintains its status as a "grantor trust" under federal income tax law and is not treated as part of REMIC I or REMIC II.

  • Under no circumstances may the REMIC Administrator vary the assets of either of Grantor Trust Z or Grantor Trust E so as to take advantage of variations in the market so as to improve the rate of return of Holders of the Class Z Certificates or the holder of the Excess Servicing Strip, as the case may be.

  • The other parties hereto shall provide on a timely basis to the REMIC Administrator or its designee such information with respect to Grantor Trust Z, Grantor Trust E and Grantor Trust B as is in its possession and reasonably requested by the REMIC Administrator to enable it to perform its obligations under this Section 10.02.

  • The Servicing Accounts shall not be considered part of the segregated pool of assets constituting, REMIC I, REMIC II, Grantor Trust Z or Grantor Trust E.

  • The Servicing Accounts shall not be considered part of the segregated pool of assets constituting REMIC I, REMIC II, Grantor Trust Z, Grantor Trust E or Grantor Trust B.

  • Under no circumstances may the REMIC Administrator vary the assets of any of Grantor Trust Z, Grantor Trust E or Grantor Trust B so as to take advantage of variations in the market so as to improve the rate of return of Holders of the Class Z Certificates, the holder of the Excess Servicing Strip or the Broker Strip Payees to whom the Broker Strip is payable, as the case may be.

  • As provided herein, the Trustee shall take all actions reasonably necessary to ensure that each of the respective portions of the Trust Fund consisting of Grantor Trust Z and Grantor Trust E maintains its status as a "grantor trust" under federal income tax law and is not treated as part of REMIC I or REMIC II.

  • In addition, prior to taking any action with respect to any of Grantor Trust Z, Grantor Trust E or Grantor Trust B or causing the Trust Fund to take any action that is not expressly permitted under the terms of this Agreement, the Master Servicer and the Special Servicer shall consult with the REMIC Administrator or its designee, in writing, with respect to whether such action could cause an Adverse Grantor Trust Event to occur.

Related to Grantor Trust Z

  • Grantor Trust means a Trust other than a RIC.

  • Grantor Trust Provisions Subpart E of part I of subchapter J of the Code and Treasury Regulations Section 301.7701-4(c).

  • Grantor Trust Certificates Any class of commercial mortgage pass-through certificates issued under this Agreement that is designated as evidencing an interest in the Grantor Trust. The Class S Certificates and the Class VRR Certificates shall be the only Classes of Grantor Trust Certificates issued under this Agreement.

  • Note A-4 Trust Fund means the trust formed pursuant to the Note A-4 PSA.

  • Master Trust Trustee means the entity acting as trustee under the applicable Pooling and Servicing Agreement.