Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 36 contracts
Samples: Correspondent Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2004-22), Correspondent Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Mortgage Pass-Through Certificates, Series 2004-16), Correspondent Servicing Agreement (Structured Asset Securities Corp)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 27 contracts
Samples: Pooling and Servicing Agreement (HSI Asset Loan Obligation Trust 2007-Wf1), Reconstituted Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2005-Wf2), Reconstituted Servicing Agreement (Sail 2006-2)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Seller shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Seller has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 26 contracts
Samples: Reconstituted Servicing Agreement (HarborView 2006-14), Master Mortgage Loan Purchase and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-6), Assignment, Assumption and Recognition Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-He1)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2860 (a) (2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d860(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 24 contracts
Samples: Reconstituted Servicing Agreement (Structured Asset Sec Corp Pass THR Cert Ser 2002 Bc3), Lehman (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-18a), Warranties and Servicing Agreement (Structured Asset Securities Corp Mort Pa THR Ce Ser 2001-18a)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 22 contracts
Samples: Assignment, Assumption and Recognition Agreement (Sequoia Mortgage Trust 2013-1), Assignment, Assumption and Recognition Agreement (Sequoia Mortgage Trust 2012-6), Assignment, Assumption and Recognition Agreement (Sequoia Mortgage Trust 2012-6)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Seller shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Seller has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 21 contracts
Samples: Master Mortgage Loan Purchase and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-A4), Master Mortgage Loan Purchase and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-Af1), Master Mortgage Loan Purchase and Servicing Agreement (Merrill Lynch Investors Trust, Series 2006-A2)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, be could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "contributions" “contribution” to a REMIC set forth in Section 860G(d) of the Code) Code unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such actionactions) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.”
Appears in 17 contracts
Samples: Mortgage Loan Servicing Agreement (Sequoia Residential Funding Inc), Flow Mortgage Loan Servicing Agreement (Sequoia Mortgage Trust 2013-7), Flow Mortgage Loan Servicing Agreement (Sequoia Mortgage Trust 2013-3)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, be could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2) of the Code and the tax on "contributionscontribution" to a REMIC set forth in Section 860G(d) of the Code) Code unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such actionactions) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 17 contracts
Samples: Servicing Agreement (Prime Mortgage Trust 2007-1), Pooling and Servicing Agreement (Prime Mortgage Trust 2006-1), Custodial Agreement (Bear Stearns ARM Trust 2007-4)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2860G(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d860(D) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 16 contracts
Samples: Servicing Agreement (GSR Mortgage Loan Trust 2006-3f), Servicing Agreement (GSR Mortgage Loan Trust 2007-Ar2), Servicing Agreement (GSR Mortgage Loan Trust 2007-Oa1)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2860 (a) (2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d860(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 16 contracts
Samples: Reconstituted Servicing Agreement (Structured Asset Sec Corp Pass THR Cert Ser 2002 Bc3), Lehman Brothers (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc1), Sale and Servicing Agreement (Banc of America Funding 2006-3 Trust)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2860F(a) (2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 16 contracts
Samples: Assignment, Assumption and Recognition Agreement (Banc of America Funding 2006-2 Trust), Assignment, Assumption and Recognition Agreement (Banc of America Funding 2006-3 Trust), Assumption and Recognition Agreement (Banc of America Funding 2006-G Trust)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans or any of them and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2860F(a) (2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 15 contracts
Samples: Indemnification Agreement (Morgan Stanley Mortgage Loan Trust 2006-8ar), Indemnification Agreement (Morgan Stanley Mortgage Loan Trust 2006-6ar), Indemnification Agreement (Morgan Stanley Mortgage Loan Trust 2006-13arx)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2860F(a) (2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 15 contracts
Samples: Assignment, Assumption and Recognition Agreement (Citigroup Mortgage Loan Trust Inc., Series 2006-Ar3), Servicing Agreement (HSI Asset Securitization CORP Trust 2007-Nc1), Acknowledgment Agreement (Citigroup Mortgage Loan Trust 2006-Ar7)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2860G(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d860(D) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 14 contracts
Samples: Custodial Agreement (GSR Mortgage Loan Trust 2006-8f), Custodial Agreement (STARM Mortgage Loan Trust 2007-1), Custodial Agreement (GSR Mortgage Loan Trust 2007-5f)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or action, fail to take (any action, or fail to cause the REMIC to be taken) take any action action, that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2860F(a) (2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 13 contracts
Samples: Warranties and Servicing Agreement (Merrill Lynch Mortgage Backed Securities Trust, Series 2007-2), Warranties and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-A3), Warranties and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-A1)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 12 contracts
Samples: Warranties and Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2005-11h), Lehman (Structured Adjustable Rate Mortgage Loan Trust Series 2005-18), Account Letter Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2005-21)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are heldheld or transferred, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2860(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d860(d) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 11 contracts
Samples: Custodial Agreement (GSR Mortgage Loan Trust 2006-9f), Reconstituted Servicing Agreement (Thornburg Mortgage Securities Trust 2005-4), Servicing Agreement (GSR Mortgage Loan Trust 2006-Oa1)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, be could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "contributions" “contribution” to a REMIC set forth in Section 860G(d) of the Code) Code unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such actionactions) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 11 contracts
Samples: Servicing Agreement, Assignment, Assumption and Recognition Agreement (Sequoia Mortgage Trust 2011-2), Assignment, Assumption and Recognition Agreement (Sequoia Mortgage Trust 2011-2)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2) of the Code and the tax on "contributionscontribution" to a REMIC set forth in Section 860G(d) of the Code) Code unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such actionactions) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 11 contracts
Samples: Pooling and Servicing Agreement (Homestar Mortgage Accep Corp Asst Back Certs Ser 2004-2.), Pooling and Servicing Agreement (Homestar Mortgage Acceptance Corp Asset-Backed Pass-Through Certificates, Series 2004-4), Pooling and Servicing Agreement (Opteum Mortgage Acceptance Corp Asset Backed Pass-Through Certificates, 2005-1)
Compliance with REMIC Provisions. If the Servicer has received written notice from the Owner that a REMIC election has been made with respect to the arrangement under which any Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 10 contracts
Samples: Servicing Agreement (Bear Stearns Asset Backed Securities Inc), Servicing Agreement (Zuni 2006-Oa1), Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust)
Compliance with REMIC Provisions. If the Servicer has received written notice from the Owner that a REMIC election has been made with respect to the arrangement under which any Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 9 contracts
Samples: Servicing Agreement (Banc of America Funding 2006-6 Trust), Servicing Agreement (Banc of America Funding 2006-5 Trust), Servicing Agreement (Banc of America Funding Corp)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC ()including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2860G(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d860(D) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 9 contracts
Samples: Servicing Agreement (GSR Mortgage Loan Trust 2007-3f), Servicing and Trust Agreement (GSAA Home Equity Trust 2007-9), Servicing Agreement (GSR Mortgage Loan Trust 2007-Ar2)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "contributions" “contribution” to a REMIC set forth in Section 860G(d) of the Code) Code unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such actionactions) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 8 contracts
Samples: Servicing Agreement (Encore Credit Receivables Trust 2005-2), Reconstitution Agreement (HarborView 2007-2), Servicing Agreement (MortgageIT Mortgage Loan Trust 2006-1)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 8 contracts
Samples: Warranties and Servicing Agreement (RBSGC 2007-A), Indemnification Agreement (RBSGC Mortgage Loan Trust 2007-B), Reconstituted Servicing Agreement (Structured Asset Sec Corp Mort Passthr Certs Ser 2003-38)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action thataction, that under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2860(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d860(D) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such taxtax on the REMIC.
Appears in 8 contracts
Samples: Indemnification and Contribution Agreement (Morgan Stanley Mortgage Loan Trust 2006-11), Indemnification and Contribution Agreement (Morgan Stanley Mortgage Loan Trust 2006-15xs), Indemnification and Contribution Agreement (Morgan Stanley Mortgage Loan Trust 2006-12xs)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "contributions" “contribution” to a REMIC set forth in Section 860G(d) of the Code) Code unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such actionactions) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.”
Appears in 8 contracts
Samples: Assignment, Assumption and Recognition Agreement (Sequoia Mortgage Trust 2013-6), Assignment, Assumption and Recognition Agreement (Sequoia Mortgage Trust 2013-6), Assignment, Assumption and Recognition Agreement (Sequoia Mortgage Trust 2012-1)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2860F(a) (2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 7 contracts
Samples: Servicing Agreement (Banc of America Funding 2006-5 Trust), Reconstituted Servicing Agreement (HSI Asset Loan Obligation Trust 2006-2), Servicing Agreement (Banc of America Funding 2007-2 Trust)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC action or fail to take any action or fail to cause the REMIC to take (or fail to cause to be taken) any action action, that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 7 contracts
Samples: Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2007-2f), Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2007-3f), Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2007-Ar1)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2860G(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d860(D) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 7 contracts
Samples: Warranties and Servicing Agreement (Gs Mortgage Securities Corp), Custodial Agreement (GSAA Home Equity Trust 2006-3), Warranties and Servicing Agreement (Gs Mortgage Securities Corp)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, be could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "contributions" “contribution” to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such actionactions) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 6 contracts
Samples: Assignment, Assumption and Recognition Agreement (Sequoia Mortgage Trust 2012-1), Assignment, Assumption and Recognition Agreement (Sequoia Mortgage Trust 2012-1), Assignment, Assumption and Recognition Agreement (Sequoia Mortgage Trust 2011-2)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Seller unless otherwise directed by the Purchaser shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Seller has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 6 contracts
Samples: Reconstitution Agreement (HarborView 2007-7), Reconstitution Agreement (Dsla 2006-Ar2), Reconstitution Agreement (Dsla 2007-Ar1)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are heldheld or transferred, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2860(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d860(d) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 6 contracts
Samples: Servicing Agreement (GSAA Home Equity Trust 2006-1), Servicing Agreement (GSAA Home Equity Trust 2006-17), Servicing Agreement (Gsaa Home Equity Trust 2004-8)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2860G(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d860(D) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 6 contracts
Samples: Servicing Agreement (GSAA Home Equity Trust 2006-4), Assignment, Assumption and Recognition Agreement (Gs Mortgage Securities Corp), Servicing Agreement (GSAA Home Equity Trust 2006-3)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Countrywide shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger materially and adversely affect the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Countrywide has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 6 contracts
Samples: Assignment, Assumption and Recognition Agreement (HSI Asset Securitization CORP Trust 2006-He2), Servicing Agreement (HSI Asset Securitization CORP Trust 2006-He2), Servicing Agreement (HSI Asset Securitization CORP Trust 2006-He1)
Compliance with REMIC Provisions. If the Servicer has received written notice from the Owner that a REMIC election has been made with respect to the arrangement under which any Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 6 contracts
Samples: Servicing Agreement (GSR Mortgage Loan Trust 2006-9f), Servicing Agreement (GSR Mortgage Loan Trust 2007-3f), Servicing Agreement (Lehman Mortgage Trust 2007-3)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property Properties are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer has received an Opinion opinion of Counsel counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 6 contracts
Samples: Servicing Agreement (Altisource Residential Corp), Servicing Agreement (Altisource Residential Corp), Servicing Agreement (Altisource Residential Corp)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2860F(a) (2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 6 contracts
Samples: And Servicing Agreement (GSR Mortgage Loan Trust 2007-2f), Assignment, Assumption and Recognition Agreement (Thornburg Mortgage Securities Trust 2006-1), And Servicing Agreement (GSR Mortgage Loan Trust 2007-3f)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any Mortgage the Loans and REO Property are held, the Servicer Seller shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Seller has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 5 contracts
Samples: Mortgage Loan Purchase and Servicing Agreement (TBW Mortgage-Backed Trust Series 2006-6), Master Loan Purchase and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2007-1), Master Loan Purchase and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2007-3)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Purchaser shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Purchaser has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 5 contracts
Samples: Interim Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-Af1), Interim Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-A4), Interim Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-A1)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2860 (a) (2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d860(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 5 contracts
Samples: Letter Agreement (Thornburg Mortgage Securities Trust 2005-4), Reconstituted Servicing Agreement (Structured Asset Mortgage Investments Inc), Letter Agreement (Greenwich Capital Acceptance Inc)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans or any of them and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2860F(a) (2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 5 contracts
Samples: Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-14ar), Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-7ax), Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-15ar)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2860(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d860(d) of the Code) unless the Servicer Company has received an Opinion opinion of Counsel counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 5 contracts
Samples: Flow Sale and Servicing Agreement (GSR 2006-4f), Flow Sale and Servicing Agreement (GSR Mortgage Loan Trust 2006-2f), Flow Sale and Servicing Agreement (GSR Mortgage Loan Trust 2006-Ar1)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2860(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d860(d) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 5 contracts
Samples: Loan Servicing Agreement (Franklin Credit Management Corp), Loan Servicing Agreement (Franklin Credit Management Corp), Loan Servicing Agreement (Franklin Credit Holding Corp/De/)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Countrywide shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Countrywide has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 4 contracts
Samples: Master Mortgage Loan Purchase and Servicing Agreement (Citigroup Mortgage Loan Trust Inc., Series 2007-Ar7), Bailee Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2006-Ar4), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Cw1)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2860(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d860(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such an action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 4 contracts
Samples: Servicing Agreement (GSR 2007-Oa2), Sale and Servicing Agreement (GSR Mortgage Loan Trust 2007-Oa1), Custodial Agreement (GSR 2006-Ar2)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC action or fail to take any action or fail to cause the REMIC to take (or fail to cause to be taken) any action action, that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 4 contracts
Samples: Trust Agreement (GSAA Home Equity Trust 2005-3), Flow Servicing Agreement (GSAA Home Equity 2005-12), Trust Agreement (GSAA Home Equity Trust 2005-3)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 4 contracts
Samples: Reconstituted Servicing Agreement, Reconstituted Servicing Agreement, Assignment and Recognition Agreement (BCAP LLC Trust 2007-Aa2)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2860 (a) (2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d860 (d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 3 contracts
Samples: Warranties and Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2005-10), Warranties and Servicing Agreement (Structured Asset Securities Corp. 2005-14), Agreement (Structured Asset Securities Corp Trust 2005-6)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2860 (a) (2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d860(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 3 contracts
Samples: Assignment, Assumption and Recognition Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-26), Flow Sale and Servicing Agreement (GSR Mortgage Loan Trust 2007-4f), Reconstituted Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2002 Bc4)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Seller shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Seller has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such taxany.
Appears in 3 contracts
Samples: Trust Agreement (GSAA Home Equity Trust 2007-2), Master Mortgage Loan Purchase and Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2005-22), Master Mortgage Loan Purchase and Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2005-23)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2860(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d860(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Prime Mortgage Trust 2006-2), Custodial Agreement (Bear Stearns Asset Backed Securities I Trust 2006-He3), Custodial Agreement (Prime Mortgage Trust 2007-1)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any Mortgage the Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 3 contracts
Samples: Master Loan Purchase and Servicing Agreement (MASTR Alternative Loan Trust 2006-3), Master Loan Purchase and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2007-1), Master Loan Purchase and Servicing Agreement (MASTR Alternative Loan Trust 2006-2)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2860(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d860(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Bear Stearns ALT-A Trust 2006-7), Distribution Instructions (Bear Stearns Asset Backed Securities I Trust 2006-Ac2), Warranties and Servicing Agreement (Gs Mortgage Securities Corp)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Countrywide shall not take any action, cause the REMIC to take any action action, or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2860 (a) (2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d860(d) of the Code) unless the Servicer Countrywide has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 3 contracts
Samples: Purchase and Servicing Agreement (Banc of America Funding 2006-D Trust), Assignment, Assumption and Recognition Agreement (Banc of America Funding 2007-a Trust), Assumption and Recognition Agreement (Banc of America Funding Corp)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2860 (a) (2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d860(d) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 3 contracts
Samples: Servicing Agreement (Banc of America Funding 2006-I Trust), Servicing Agreement (Banc of America Funding 2006-8t2 Trust), Sale and Servicing Agreement (Asset Backed Funding Corp)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any of the Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2860F(a) (2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Gs-FFMLT 2006-Ff13), Trust Agreement (GSAA Home Equity Trust 2006-13)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such an action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 2 contracts
Samples: Sale and Servicing Agreement (Lehman XS Trust Series 2007-2n), Sale and Servicing Agreement (Lehman XS Trust Series 2007-15n)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (ia) endanger the status of the REMIC as a REMIC, REMIC or (iib) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2860 (a) (2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d860(d) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (First NLC Securitization, Inc.), Pooling and Servicing Agreement (FBR Securitization, Inc.)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Countrywide shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger materially and adversely affect the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Countrywide has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 2 contracts
Samples: Servicing Agreement (HSI Asset Loan Obligation Trust 2006-2), Servicing Agreement (HSI Asset Loan Obligation Trust 2007-Ar1)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2860(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d860(d) of the Code) unless the Servicer Company has received an Opinion opinion of Counsel counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 2 contracts
Samples: Master Flow Sale and Servicing Agreement (Banc of America Funding 2007-4 Trust), Master Flow Sale and Servicing Agreement (Banc of America Funding 2007-3 Trust)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2860 (a) (2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d860 (d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 2 contracts
Samples: Banc of America Funding 2006-3 Trust, Banc of America Funding 2006-2 Trust
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Seller has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.”
Appears in 2 contracts
Samples: Assignment, Assumption and Recognition Agreement (PHH Alternative Mortgage Trust, Series 2007-1), Assignment, Assumption and Recognition Agreement (PHH Alternative Mortgage Trust, Series 2007-1)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Serivcer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 2 contracts
Samples: Servicing Agreement (PHH Alternative Mortgage Trust, Series 2007-3), Servicing Agreement (PHH Alternative Mortgage Trust, Series 2007-2)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Seller shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) ), any action that, under the REMIC Provisions, if taken or not taken, as the case may be, be could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2860F(a) (2) of the Code and the tax on "contributions" “contribution” to a REMIC set forth in Section 860G(d) of the Code) Code unless the Servicer Seller has received an Opinion of Counsel (at the expense of the party seeking to take such actionactions) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.”
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Sequoia Mortgage Trust 2007-1), Pooling and Servicing Agreement (Sequoia Mortgage Trust 2007-4)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any Mortgage the Loans and REO Foreclosure Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 2 contracts
Samples: Sale and Servicing Agreement (H&r Block Inc), Sale and Servicing Agreement (H&r Block Inc)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2860G(a) (2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 2 contracts
Samples: Custodial Agreement (Gs Mortgage Securities Corp Mort Pas THR Cert Se 2002 Wf), Custodial Agreement (Gs Mortgage Securities Corp Mort Pas THR Cert Se 2002 Wf)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 2 contracts
Samples: Sale and Servicing Agreement (STARM Mortgage Loan Trust 2007-4), Warranties and Servicing Agreement (J.P. Morgan Mortgage Trust 2006-A1)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 2 contracts
Samples: Reconstituted Servicing Agreement (Lehman Xs Trust Series 2005-3), Letter Agreement (Thornburg Mortgage Securities Trust 2005-4)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any Mortgage the Loans and REO Foreclosure Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 2 contracts
Samples: Sale and Servicing Agreement (H&r Block Inc), Sale and Servicing Agreement (H&r Block Inc)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (iI) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 2 contracts
Samples: Warranties and Servicing Agreement (Citigroup Mortgage Loan Trust 2006-Ar5), Warranties and Servicing Agreement (Citigroup Mortgage Loan Trust 2006-4)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Interim Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d) of the Code) unless the Interim Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 2 contracts
Samples: Master Mortgage Loan Purchase and Interim Servicing Agreement (Citigroup Mortgage Loan Trust 2006-Nc1), Master Mortgage Loan Purchase and Interim Servicing Agreement (Citigroup Mortgage Loan Trust 2006-Nc2)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d860(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 2 contracts
Samples: Reconstituted Servicing Agreement (SASCO Mortgage Loan Trust Series 2005-Gel3), Reconstituted Servicing Agreement (Sasco Mortgage Loan Trust Series 2004-Gel2)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Countrywide shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Countrywide has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 1 contract
Samples: Master Mortgage Loan Purchase and Servicing Agreement (Luminent Mortgage Trust 2006-6)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property Properties are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 1 contract
Compliance with REMIC Provisions. If the Servicer has received written notice from the Owner that a REMIC election has been made with respect to the arrangement under which any Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisionsprovisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer has received an Opinion opinion of Counsel counsel satisfactory to the Owner and any Guarantor, in its reasonable discretion (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 1 contract
Samples: Flow Servicing Agreement (GSAA Home Equity 2005-12)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any Mortgage the Loans and REO Property are held, the Servicer Seller shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Seller has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.. Section 11.29 [Reserved]
Appears in 1 contract
Samples: Master Loan Purchase and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2006-2)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 1 contract
Samples: Reconstituted Servicing Agreement (Structured Asset Sec Corp Pass THR Cert Ser 2000-1)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, be could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2) of the Code and the tax on "contributionscontribution" to a REMIC set forth in Section 860G(d) of the Code) Code unless the Servicer has and the Guarantor, if applicable, have received an Opinion of Counsel (at the expense of the party seeking to take such actionactions) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns ALT-A Trust 2007-3)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Seller shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Seller has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.. EXHIBIT 9 FORM OF TRADE CONFIRMATION SCHEDULE ONE
Appears in 1 contract
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (iI) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 1 contract
Samples: Warranties and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2006-2)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2860(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d860(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such an action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 1 contract
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2860 (a) (2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d860(d) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 1 contract
Samples: Master Bulk Sale and Servicing Agreement (Banc of America Funding Corp)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC ()including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2860G(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d860(D) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 1 contract
Samples: Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-1)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2860(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d860(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such an action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 1 contract
Samples: Custodial Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Ramp1)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any Mortgage the Loans and REO Property are held, the Servicer Seller shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Seller has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 1 contract
Samples: Mortgage Loan Purchase and Servicing Agreement (TBW Mortgage-Backed Trust Series 2007-1)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Subservicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "contributions" “contribution” to a REMIC set forth in Section 860G(d) of the Code) Code unless the Servicer Subservicer has received an Opinion of Counsel (at the expense of the party seeking to take such actionactions) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 1 contract
Samples: Subservicing Agreement (MortgageIT Mortgage Loan Trust 2006-1)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.. Exh. 5-17 EXHIBIT 6 --------- [RESERVED]
Appears in 1 contract
Samples: Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-3)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC action or fail to take any action or fail to cause the REMIC to take (or fail to cause to be taken) any action action, that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2860G(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 1 contract
Samples: Servicing Agreement (GS Mortgage GSAA Home Eq. Trust 2004-7)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Seller shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Seller has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.. EXHIBIT 9 FORM OF TRADE CONFIRMATION [Intentionally Omitted] SCHEDULE ONE FINAL MORTGAGE LOAN SCHEDULE
Appears in 1 contract
Samples: Purchase and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2006-A1)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2860(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d860(d) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such an action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 1 contract
Samples: Luminent Mortgage Trust 2006-6
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2860F (a) (2) of the Code and Code, the tax on "contributions" to a REMIC set forth in Section 860G(d) of the CodeCode or the tax on "net income from foreclosure property" as defined in Section 860G(c)) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 1 contract
Samples: SunTrust Real Estate Trust, LLC
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.. EXHIBIT 10 ---------- FORM OF CONFIRMATION
Appears in 1 contract
Samples: Assumption and Recognition Agreement (Greenwich Capital Acceptance Inc)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) 57 result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 1 contract
Samples: Warranties and Servicing Agreement (Lehman XS Trust Series 2006-10n)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2860(F)(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d860(G)(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 1 contract
Samples: Mortgage Loan Purchase Agreement (Five Oaks Investment Corp.)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any Mortgage Loans the XXXx and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, be could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2) of the Code and the tax on "contributionscontribution" to a REMIC set forth in Section 860G(d) of the Code) Code unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such actionactions) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Samco Mortgage Securities Corp)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2860 (a) (2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d860(d) of the Code) unless the Servicer has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 1 contract
Samples: Servicing Agreement (Etrade Mortgage Backed Securities Corp)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Countrywide shall not take any action, cause the REMIC to take any action action, or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2860 (a) (2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d860(d) of the Code) unless the Servicer Countrywide has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.. COVENANTS BY COUNTRYWIDE
Appears in 1 contract
Samples: Purchase and Servicing Agreement (Banc of America Funding Corp)
Compliance with REMIC Provisions. If the Seller has received written notice from the Purchaser that a REMIC election has been made with respect to the arrangement under which any Mortgage Loans and REO Property are held, the Servicer Seller shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Seller has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 1 contract
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "“prohibited transactions" ” as defined in Section 860F(a)(2860(a)(2) of the Code and the tax on "“contributions" ” to a REMIC set forth in Section 860G(d860(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
Appears in 1 contract
Samples: Sale and Servicing Agreement (ABFC 2006-Opt2 Trust)
Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which any the Mortgage Loans and REO Property are held, the Servicer Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC, REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Servicer Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.. EXHIBIT 6 [RESERVED] Exh. 6-1 EXHIBIT 7 SERVICING TRANSFER INSTRUCTIONS
Appears in 1 contract
Samples: Servicing Agreement (GSAA Home Equity Trust 2006-19)
