Common use of Designation of REMIC Clause in Contracts

Designation of REMIC. (s). The REMIC Administrator will make an election to treat the segregated pool of assets described in the definition of REMIC I (as defined herein), and subject to this Agreement (including the Mortgage Loans but excluding the Initial Monthly Payment Fund), as a REMIC for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests, and subject to this Agreement (excluding the Initial Monthly Payment Fund), as a REMIC for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein). The Class I-A, Class II-A-1, Class II-A-2, Class III-A-1, Class III-A-2, Class III-A-3, Class IV-A, Class V-A, Class VI-A-1, Class VI-A-2, Class M-1, Class M-2, Class M-3, Class M-4, Class B-1, Class B-2 and Class B-3 Certificates will be "regular interests" in REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined in the Standard Terms) under federal income tax law.

Designation of REMIC. (s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein), and subject to this Agreement (including the Mortgage Loans but excluding the Initial Monthly Payment Fund), as a REMIC for federal income tax purposes. The REMIC Administrator will make an election to treat ) described in the segregated pool definition of assets consisting of the Uncertificated REMIC I Regular InterestsTrust Fund, and subject to this Agreement (excluding the Initial Monthly Payment Fund)Agreement, as a REMIC for federal income tax purposes. The Uncertificated REMIC I Regular Interests Interests, the rights in which will be "regular interests" in REMIC I represented by the related Exchanged and Exchangeable Certificates, as the case may be, the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein). The Class I-A, Class II-A-1, Class II-A-2, Class III-A-1, Class III-A-2, Class III-A-3, Class IV-AA-7, Class V-AA-8, Class VIA-A-1, Class VI-A-2P, Class M-1, Class M-2, Class M-3, Class M-4, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated Class A-V REMIC Regular Interests, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC IIthe REMIC, and the Class R-II R Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined in the Standard Terms) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c) of the Standard Terms, any such Subclass will represent the Uncertificated Class A-V REMIC Regular Interest or Interests specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC. (s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein), and subject to this Agreement (including the Mortgage Loans but excluding the Initial Monthly Payment Fund), Loans) as a REMIC (the "REMIC") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC I Regular Interests, and subject to this Agreement (excluding the Initial Monthly Payment Fund), as a REMIC for federal income tax purposes. The Uncertificated REMIC I Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC I the REMIC, and the Class R-I R Certificates will be the sole class of "residual interests" in the REMIC I for purposes of the REMIC Provisions (as defined herein)) under the federal income tax law. The Class I-A, Class II-A-1, Class II-A-2, Class III-A-1, Class III-A-2, Class III-A-3, Class IV-A, Class V-A, Class VI-A-1, Class VI-A-2, Class M-1, Class M-2, Class M-3, Class M-4, Class B-1, Class B-2 and Class B-3 P Certificates will not be "regular interests" in REMIC II, the REMIC. On and after the date of issuance of any Subclass of Class RA-II V Certificates will be the sole class pursuant to Section 5.01(c) of "residual interests" therein for purposes of the REMIC Provisions (as defined in the Standard Terms) under federal income tax law, any such Subclass will represent the Uncertificated REMIC Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC. (s). The REMIC Administrator will make an election to treat the segregated pool of assets described in the definition of REMIC I (as defined herein), and subject to this Agreement (including the Mortgage Loans but excluding the Initial Monthly Payment Fund), as a REMIC for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests, and subject to this Agreement (excluding the Initial Monthly Payment Fund), as a REMIC for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein). The Class A-I-A, Class A-II-A-1, Class IIA-A-2, Class III-A-1, Class III-A-2, Class III-A-3, Class IV-A, Class V-A, Class VI-A-1, Class VI-A-2, Class M-1, Class M-2, Class M-3, Class M-4, Class B-1, Class B-2 and Class B-3 Certificates will be "regular interests" in REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined in the Standard Terms) under federal income tax law.

Designation of REMIC. (s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein), and subject to this Agreement (including the Mortgage Loans but excluding the Initial Monthly Payment Fund), as a REMIC for federal income tax purposes. The REMIC Administrator will make an election to treat ) described in the segregated pool definition of assets consisting of the Uncertificated REMIC I Regular InterestsTrust Fund, and subject to this Agreement (excluding the Initial Monthly Payment Fund)Agreement, as a REMIC for federal income tax purposes. The Uncertificated REMIC I Regular Interests Interests, the rights in which will be "regular interests" in REMIC I represented by the related Exchanged and Exchangeable Certificates, as the case may be, the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein). The Class I-A, Class II-A-1, Class II-A-2, Class III-A-1, Class III-A-2, Class III-A-3, Class IV-AA-4, Class V-AA-5, Class VI-A-1A-8, Class VI-A-2A-10, Class M-1, Class M-2, Class M-3, Class M-4, Class B-1, Class B-2 and Class B-3 Certificates, the Class A-P Certificates and the Uncertificated Class A-V REMIC Regular Interests, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC IIthe REMIC, and the Class R-II R Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined in the Standard Terms) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c) of the Standard Terms, any such Subclass will represent the Uncertificated Class A-V REMIC Regular Interest or Interests specified by the initial Holder of the Class A-V Certificates pursuant to said Section.