Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 23 contracts
Samples: Pooling and Servicing Agreement (Solomon Mortgage Ln Tr Ser 2002-Cb3 C-Bass MRT Ln as BCK Cer), Pooling and Servicing Agreement (Bond Securitization LLC), Pooling and Servicing Agreement (C-Bass Mortgage Loan Asset-Backed Certificates Series 2005-Cb1)
Additional Termination Requirements. (a) In the event that the Servicer Company exercises its purchase option as provided in Section 10.019.01, the Trust Fund and the REMIC established hereunder shall be terminated in accordance with the following additional requirements, unless the Trustee shall have has been furnished supplied with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 9.02 will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust such REMIC as defined in Section section 860F of the Code Code, or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 11 contracts
Samples: Pooling and Servicing Agreement (Ge Capital Mortgage Services Inc), Pooling and Servicing Agreement (Ge Capital Mortgage Services Inc), Pooling and Servicing Agreement (Ge Capital Mortgage Services Inc)
Additional Termination Requirements. (a) In If the event that the Master Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Securities Administrator and the Trustee shall have been furnished with received an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 10.02 will not (i) result in the imposition of taxes on "prohibited transactions" or "prohibited contributions" in respect of the Trust any REMIC created hereunder as defined in Section 860F of the Code REMIC Provisions, or (ii) cause any REMIC constituting part of the Trust Fund created hereunder to fail to qualify as a REMIC at any time that any related Certificates are outstanding:
Appears in 10 contracts
Samples: Pooling and Servicing Agreement (Banc of America Funding 2006-6 Trust), Pooling and Servicing Agreement (Banc of America Funding 2006-5 Trust), Pooling and Servicing Agreement (Banc of America Funding 2006-4 Trust)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.0111.01 or the Trustee terminates the Trust, the Trust each REMIC shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "“prohibited transactions" ” of the Trust as defined in Section 860F of the Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 9 contracts
Samples: Pooling and Servicing Agreement (Novastar Mortgage Funding Trust Series 2004-1), Pooling and Servicing Agreement (NovaStar Mortgage Funding Trust, Series 2005-2), Pooling and Servicing Agreement (NovaStar Mortgage Funding Trust, Series 2004-3)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 10.02 will not (i1) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code or (ii2) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Regular Certificates are outstanding:
Appears in 8 contracts
Samples: Custodial Agreement (Renaissance Mortgage Acceptance Corp), Custodial Agreement (Delta Funding Corp /De/), Custodial Agreement (Delta Funding Corp /De/)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.018.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee shall have has been furnished with an Opinion of Counsel to the effect that the failure of the REMIC Trust to comply with the requirements of this Section 8.02 will not (i) result in the imposition of taxes on "prohibited transactions" of the REMIC Trust as defined in Section 860F of the Code or (ii) cause any the REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Class A Certificates are outstanding:
Appears in 8 contracts
Samples: Pooling and Servicing Agreement (American Business Financial Services Inc /De/), Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp), Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel Counsel, at the expense of the Servicer without reimbursement from the Trust, to the effect that the failure of the Trust to comply with the requirements of this Section 10.02 will not (i1) result in the imposition of taxes on "“prohibited transactions" ” of the Trust as defined in Section 860F of the Code or (ii2) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Regular Certificates are outstanding:
Appears in 7 contracts
Samples: Custodial Agreement (Home Equity Loan Asset-Backed Certificates Series 2003-2), Pooling and Servicing Agreement (Renaissance Mort Accept Corp Home Equity Ln as Bk Ce Se 03-3), Pooling and Servicing Agreement (Renaissance Mort Accept Corp Home Equity Ln as Bk Ce Se 03-3)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code or (ii) cause any the REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc), Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc), Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 10.02 will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Regular Certificates are outstanding:
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Delta Funding Corp /De/), Pooling and Servicing Agreement (Delta Funding Corp /De/), Custodial Agreement (Delta Funding Corp /De/)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.0111.01, the Trust each REMIC shall be terminated in accordance with the following additional requirements, unless the Trustee Certificate Administrator shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Residential Asset Funding Corp), Pooling and Servicing Agreement (Residential Asset Funding Corp), Pooling and Servicing Agreement (Novastar Mortgage Funding Corp)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.0111.01 or the Trustee terminates the Trust, the Trust each REMIC shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Novastar Mortgage Funding Corp Home Eq Ln as Bk Ce Se 03 1), Pooling and Servicing Agreement (Novastar Mortgage Funding Corp Home Equity Loan Ser 2003-4), Pooling and Servicing Agreement (Novastar Home Equity Loan Asset Backed Cert Series 2003-3)
Additional Termination Requirements. (a) In the event that the Servicer Seller exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Asset Backed Funding Corp), Pooling and Servicing Agreement (Residential Asset Funding Corp), Pooling and Servicing Agreement (Asset Backed Funding Corp)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.0111.01 or the Trustee terminates the Trust, the Trust each REMIC shall be terminated in accordance with the following additional requirements, unless the Trustee Certificate Administrator shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Novastar Mortgage Funding Corp), Pooling and Servicing Agreement (Novastar Mortgage Funding Corp Trust Series 2002-3), Pooling and Servicing Agreement (Novastar Mortgage Funding Corp Series 2002-2)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.019.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "“prohibited transactions" ” of the Trust as defined in Section 860F of the Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (C-Bass 2006-Cb7 Trust), Pooling and Servicing Agreement (C-Bass 2006-Cb7 Trust), Pooling and Servicing Agreement (C-Bass 2007-Cb1 Trust)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "“prohibited transactions" ” of the Trust as defined in Section 860F of the Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 4 contracts
Samples: Distribution Instructions (C-Bass Mortgage Loan Trust 2007-Cb3), Pooling and Servicing Agreement (C-Bass 2007-Cb5 Trust), Distribution Instructions (Citigroup Mortgage Loan Trust Inc)
Additional Termination Requirements. (a) In the event that the Master Servicer exercises its purchase option as provided in Section 10.01, the Trust each REMIC shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "“prohibited transactions" ” of the Trust as defined in Section 860F of the Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Indymac Residential Mortgage-Backed Trust, Series 2005-L2), Pooling and Servicing Agreement (Indymac Residential Mortgage-Backed Trust, Series 2005-L3), Pooling and Servicing Agreement (Indymac Residential Mortgage-Backed Trust, Series 2005-L1)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 10.02 will not (i1) result in the imposition of taxes on "“prohibited transactions" ” of the Trust as defined in Section 860F of the Code or (ii2) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Regular Certificates are outstanding:
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Renaissance Home Equity Loan Tr Asset BKD Cer Series 2002-3), Custodial Agreement (Renaissance Home Equity Loan Tr Asset BKD Cer Ser 2002-4), Pooling and Servicing Agreement (Renaissance Mort Accept Corp Home Eq Ln as Bk Cer Se 03 1)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have has been furnished with an Opinion of Counsel to the effect that the failure of the Trust Fund to comply with the requirements of this Section 10.02 will not (i) result in the imposition of taxes on "“prohibited transactions" ” of the Trust as defined in Section 860F of the Code Code, or (ii) cause any the REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Class A Certificates are outstanding:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Lehman Abs Corp), Pooling and Servicing Agreement (Structured Asset Securities Corp)
Additional Termination Requirements. (a) In If the event that the Master Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Securities Administrator and the Trustee shall have been furnished with received an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 10.02 will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code Code, or (ii) cause any REMIC constituting part of the Trust Fund Estate to fail to qualify as a REMIC two separate REMICs at any time that any Certificates are outstanding:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Banc of American Funding Corp Mort Pass Thru Cert Ser 2003-2), Pooling and Servicing Agreement (Banc of America Funding Corp. 2004-5 Trust)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.019.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (C-Bass 2006-Cb2 Trust), Pooling and Servicing Agreement (C-Bass 2006-Cb2 Trust)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee and the Securities Administrator shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 10.02 will not (i1) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code or (ii2) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Regular Certificates are outstanding:
Appears in 2 contracts
Samples: Custodial Agreement (Delta Funding Home Equity Loan Tr 1999-2 Home Equ Loan Ass B), Custodial Agreement (Delta Funding Home Equity Loan Tr 99-3 Home Eq as Bk Se 99-3)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in pursuant to Section 10.01, the Trust REMIC shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with has received an Opinion of Counsel to the effect that the failure of the Trust REMIC to comply with the requirements of this Section will not (i) result in the imposition of taxes on a "prohibited transactionstransaction" of the Trust REMIC, as defined described in Section 860F of the Code Code, or (ii) cause any REMIC constituting part of the Trust Fund REMIC to fail to qualify as a REMIC remic at any time that any Certificates are outstanding:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp), Pooling and Servicing Agreement (Asset Backed Securities Corp)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:: 125
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (C-Bass MTG Ln as Bk Cert Ser 2004-Cb4), Pooling and Servicing Agreement (C-Bass MTG Ln as Bk Cert Ser 2004-Cb4)
Additional Termination Requirements. (a) In Upon the event that the Servicer exercises its exercise of a purchase option by the Call Right Holder as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Securities Administrator and the Trustee shall have been furnished with received an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 10.02 will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code Code, or (ii) cause any the REMIC constituting part of the Trust Fund created hereunder to fail to qualify as a REMIC at any time that any related Certificates are outstanding:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp), Pooling and Servicing Agreement (Banc of America Funding Corp. 2005-1 Trust)
Additional Termination Requirements. (a) In the event that the Interim Subservicer or the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee Securities Administrator shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "“prohibited transactions" ” of the any Trust REMIC as defined in Section 860F of the Code on any Trust REMIC or (ii) cause any Trust REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (American General Finance Corp)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.01, the The Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee shall and the Servicer have been furnished with received an Opinion of Counsel (which opinion of Counsel shall not be an expense of the Trustee) to the effect that the failure of the Trust Fund to comply with the requirements of this Section 9.02 will not (i) result in the imposition on the Trust Fund of taxes on "prohibited transactions," of the Trust as defined described in Section 860F of the Code Code, or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are Certificate is outstanding:
Appears in 1 contract
Samples: Custodial Agreement (Stanwich Asset Acceptance CO LLC)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "prohibited 137 transactions" of the Trust as defined in Section 860F of the Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (C-Bass Mortgage Loan Asset-Backed Certificates, Series 2006-Cb8)
Additional Termination Requirements. (a) In If the event that the Master Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Securities Administrator and the Trustee shall have been furnished with received an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 10.02 will not (i) result in the imposition of taxes on "prohibited transactions" or "prohibited contributions" in respect of the any Trust REMIC as defined in Section 860F of the Code REMIC Provisions, or (ii) cause any Trust REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any related Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp. 2005-2 Trust)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "prohibited 147 transactions" of the Trust as defined in Section 860F of the Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (C-Bass Mortgage Loan Asset Backed Certificates, Series 2007-Cb4)
Additional Termination Requirements. (a) In the event ----------------------------------- that the Master Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Class A Certificates are outstanding:
Appears in 1 contract
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have has been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 10.02 will not (i) result in the imposition of taxes on "“prohibited transactions" ” of the Trust as defined in Section 860F of the Code Code, or (ii) cause any the REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Class A Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Lehman Home Equity Loan Trust 2004-3)
Additional Termination Requirements. (a) In the event that the Servicer Depositor exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wells Fargo Asset Securities Corp)
Additional Termination Requirements. (a) In the event that If the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Securities Administrator and the Trustee shall have been furnished with received an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 10.02 will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code Code, or (ii) cause any REMIC constituting part of the Trust Fund Estate to fail to qualify as a REMIC two separate REMICs at any time that any Certificates are outstanding:
Appears in 1 contract
Additional Termination Requirements. (a) In the event that the Master Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Regular Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)
Additional Termination Requirements. (a) In the event that the Servicer (or an affiliate of the Servicer) exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Residential Asset Funding Corp)
Additional Termination Requirements. (a) In the event that If the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Securities Administrator and the Trustee shall have been furnished with received an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 10.02 will not (i) result in the imposition of taxes on "prohibited transactions" or "prohibited contributions" in respect of the Trust any REMIC created hereunder as defined in Section 860F of the Code REMIC Provisions, or (ii) cause any REMIC constituting part of the Trust Fund created hereunder to fail to qualify as a REMIC at any time that any related Certificates are outstanding:
Appears in 1 contract
Samples: Custodial Agreement (SunTrust Alternative Loan Trust, Series 2005-1f)
Additional Termination Requirements. (a) In the event that the Servicer Terminating Entity exercises its purchase option as provided in pursuant to Section 10.0111.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee shall and the Trust Administrator have been furnished with received an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "a “prohibited transactions" transaction” of the Trust any REMIC created hereunder, as defined described in Section 860F of the Code Code, or (ii) cause any REMIC constituting part of the Trust Fund created hereunder to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)
Additional Termination Requirements. (a) In the event that the Master Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code or (ii) cause any either REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc)
Additional Termination Requirements. (a) In If the event that the Master Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Certificate Administrator and the Trustee shall have been furnished with received an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 10.02 will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code Code, or (ii) cause any REMIC constituting part of the Trust Fund Estate to fail to qualify as a REMIC two separate REMICs at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wachovia Mortgage Loan Trust, Series 2005-B)
Additional Termination Requirements. (a) In the event that the Certificate Insurer or the Master Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code or (ii) cause any the REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (United Panam Financial Corp)
Additional Termination Requirements. (a) In the event that the Servicer exercises its or the Subservicers exercise their purchase option as provided in pursuant to Section 10.019.01(b), the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee shall have has been furnished supplied with an Opinion of Counsel Counsel, at the expense of the Servicer, to the effect that the failure of the Trust Fund to comply with the requirements of this Section 9.02 will not (i) result in the imposition of taxes on "“prohibited transactions" ” of the Trust as defined in Section 860F of the Code any REMIC described hereunder, or (ii) cause any REMIC constituting part of the Trust Fund described hereunder to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (HSBC Home Equity Loan Trust (USA) 2007-3)
Additional Termination Requirements. (a) In the event that the Master Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall and the Certificate Insurer have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 10.02 will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code or (ii) cause any the REMIC constituting part of the Trust Fund hereunder to fail to qualify as a REMIC at any time that any Regular Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Avco Abs Receivables Corp)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall and the Certificate Insurer have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 10.02 will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Regular Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Delta Funding Corp /De/)
Additional Termination Requirements. (a) In the event that the Master Servicer exercises its purchase option as provided in Section 10.01, 10.01 the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with has received an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 10.02 will not (i) result in the imposition of taxes on "“prohibited transactions" ” of the Trust as defined in Section 860F of the Code Code, or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Greenpoint Mort Sec Inc Mort Back Ps THR Certs Ser 2003-1)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "“prohibited transactions" ” of the Trust as defined in Section 860F of the Code or (ii) cause any REMIC constituting consti tuting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (C-Bass Mortgage Loan Asset-Backed Certificates, Series 2005-Cb6)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee and the Certificate Insurer shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 10.02 will not (i1) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code or (ii2) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Regular Certificates are outstanding:
Appears in 1 contract
Additional Termination Requirements. (a) In the event that If the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Securities Administrator and the Trustee shall have been furnished with received an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 10.02 will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code Code, or (ii) cause any REMIC constituting part of the Trust Fund Estate to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp Mort Pas THR Certs Ser 2003 1)
Additional Termination Requirements. (a) In the event that the Servicer exercises its Servicers exercise their purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Mid State Capital Corp)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option the Optional Termination as provided in Section 10.0112.1, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee shall have has been furnished supplied with an Opinion of Counsel Counsel, at the expense of the Servicer, to the effect that the failure of the Trust to comply with the requirements of this Section will 12.3 shall not (i) result in the imposition of taxes on "“prohibited transactions" of the Trust ” on any REMIC as defined in Section section 860F of the Code Code, or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (First NLC Trust 2005-2)
Additional Termination Requirements. (a) In the event that Upon exercise by the Servicer exercises of its purchase option as provided in Section 10.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished supplied with an Opinion of Counsel addressed to the Trustee, at the expense of the Servicer, to the effect that the failure of the Trust Fund to comply with the requirements of this Section 10.03 will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code a REMIC, or (ii) cause any a REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-Bo1)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:Code
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Series 2004-Cb3)
Additional Termination Requirements. (a) In the event that the Servicer Terminating Entity exercises its purchase option as provided in pursuant to Section 10.0111.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Trustee shall and the Trust Administrator have been furnished with received an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on a "prohibited transactionstransaction" of the Trust any REMIC created hereunder, as defined described in Section 860F of the Code Code, or (ii) cause any REMIC constituting part of the Trust Fund created hereunder to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Through Certificates Ser 2002-Ar13)
Additional Termination Requirements. (a) In the event that the Master Servicer exercises its purchase option as provided in Section 10.01, the Trust each REMIC shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code 134 or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp New South Home Equity Trust 2001-1)
Additional Termination Requirements. (a) In the event that the Master Servicer exercises its purchase option as provided in Section 10.01, 10.01 the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have Trust Administrator has been furnished supplied with an Opinion of Counsel Counsel, at the expense of the Master Servicer, to the effect that the failure of the Trust to comply with the requirements of this Section 10.02 will not (i) result in the imposition of taxes on "prohibited transactions" of on the Trust REMIC as defined in Section 860F of the Code Code, or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (American General MRT Ln Asst BCKD Ps THR CRTS Sr 2003-1)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in pursuant to Section 10.01, the Trust REMIC shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with has received an Opinion of Counsel to the effect that the failure of the Trust REMIC to comply with the requirements of this Section will not (i) result in the imposition of taxes on a "prohibited transactionstransaction" of the Trust REMIC, as defined described in Section 860F of the Code Code, or (ii) cause any REMIC constituting part of the Trust Fund REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Chevy Chase Bank FSB)
Additional Termination Requirements. (a) In the event that the Master Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Class A Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (United Panam Financial Corp)
Additional Termination Requirements. (a) In the event ----------------------------------- that the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have has been furnished with an Opinion of Counsel to the effect that the failure of the Trust Fund to comply with the requirements of this Section 10.02 will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code Code, or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Class A Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Norwest Asset Acceptance Corp)
Additional Termination Requirements. (a) In If the event that the Master Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with has received an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 10.02 will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code Code, or (ii) cause any the REMIC constituting part of the Trust Fund created hereunder to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Additional Termination Requirements. (a) In the event that the Master Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 10.02 will not (i1) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code or (ii2) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Regular Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Financial Asset Se Cp Soundview Hm Eq Ln as Bk Cer Se 2001-1)
Additional Termination Requirements. (a) In the event that If the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with has received an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 10.02 will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code Code, or (ii) cause any either REMIC constituting part of the Trust Fund created hereunder to fail to qualify as a REMIC at any time that any related Certificates or Uncertificated Lower-Tier Interests are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp. 2005-G Trust)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have has been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 10.02 will not (i) result in the imposition of taxes on "“prohibited transactions" ” of the Trust as defined in Section 860F of the Code Code, or (ii) cause any REMIC constituting part of the Trust Fund created hereunder to fail to qualify as a REMIC at any time that any Class A Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Home Loan Mortgage Loan Trust 2005-1)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee and the Guarantor shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "“prohibited transactions" ” of the Trust as defined in Section 860F of the Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Residential Asset Funding Corp)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee and the Certificate Administrator shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (C Bass Mortgage Loan Asset Backed Certs Ser 2002 Cb1)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Regular Certificates are outstanding:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)
Additional Termination Requirements. (a) In the event that the Servicer exercises its purchase option as provided in Section 10.01, the Trust shall be terminated in accordance with the following additional requirements, unless the Trustee and the Certificate Insurer shall have been furnished with an Opinion of Counsel to the effect that the failure of the Trust to comply with the requirements of this Section 10.02 will not (i) result in the imposition of taxes on "prohibited transactions" of the Trust as defined in Section 860F of the Code or (ii) cause any REMIC constituting part of the Trust Fund to fail to qualify as a REMIC at any time that any Regular Certificates are outstanding:
Appears in 1 contract
