Common use of Grantor Trust Administration Clause in Contracts

Grantor Trust Administration. (a) The REMIC Administrator shall treat each of Grantor Trust Z, Grantor Trust E and Grantor Trust B for tax return preparation purposes, as a "grantor trust" under the Code and shall treat (i) the Additional Interest, the Additional Interest Account and amounts held from time to time in the Additional Interest Account that represent Additional Interest as separate assets of Grantor Trust Z, (ii) the Excess Servicing Strip and amounts held from time to time in the Collection Account that represent the Excess Servicing Strip as separate assets of Grantor Trust E, and (iii) the Broker Strip and amounts held from time to time in the Collection Account that represent the Broker Strip as separate assets of Grantor Trust B, and in each case not of REMIC I or REMIC II, as permitted by Treasury Regulations Section 1.860G-2(i)(1). The Class Z Certificates are hereby designated as representing an undivided beneficial interest in Additional Interest payable on the Trust Mortgage Loans and proceeds thereof. The holder of the Excess Servicing Strip is hereby designated as owning an undivided beneficial interest in the Excess Servicing Strip payable on the Mortgage Loans and the REO Loans and proceeds thereof. The Broker Strip Payees to whom the Broker Strip is payable are hereby designated as owning undivided beneficial interests in the Broker Strip payable on the Mortgage Loans and the REO Loans and proceeds thereof.

Grantor Trust Administration. (a) The REMIC Administrator shall treat each of Grantor Trust Z, Grantor Trust E Y and Grantor Trust B Z for tax return preparation purposes, as a "grantor trust" under the Code and shall treat (i) the Additional Interest, the Trust Converting Additional Interest Accounts and amounts held from time to time in the Trust Converting Additional Interest Account as separate assets of Grantor Trust Y and (ii) the ARD Loan Additional Interest, the ARD Loan Additional Interest Account and amounts held from time to time in the ARD Loan Additional Interest Account that represent Additional Interest as separate assets of Grantor Trust Z, (ii) the Excess Servicing Strip and amounts held from time to time in the Collection Account that represent the Excess Servicing Strip as separate assets of Grantor Trust E, and (iii) the Broker Strip and amounts held from time to time in the Collection Account that represent the Broker Strip as separate assets of Grantor Trust Bapplicable, and in each case (clauses (i) and (ii) above) not of REMIC I or REMIC II, as permitted by Treasury Regulations Section 1.860G-2(i)(1). The Class Y Certificates are hereby designated as representing an undivided beneficial interest in the Trust Converting Loan Additional Interest payable on the Trust Converting Loans and proceeds thereof. The Class Z Certificates are hereby designated as representing an undivided beneficial interest in ARD Loan Additional Interest payable on the Trust Mortgage Loans and proceeds thereof. The holder of the Excess Servicing Strip is hereby designated as owning an undivided beneficial interest in the Excess Servicing Strip payable on the Mortgage Loans and the REO Loans and proceeds thereof. The Broker Strip Payees to whom the Broker Strip is payable are hereby designated as owning undivided beneficial interests in the Broker Strip payable on the Mortgage Loans and the REO ARD Loans and proceeds thereof.

Grantor Trust Administration. (a) The REMIC Administrator shall treat each of Grantor Trust A-2FL, Grantor Trust A-4FL, Grantor Trust Z, Grantor Trust E and Grantor Trust B for tax return preparation purposes, as a "grantor trust" under the Code and shall treat (i) the Class A-2FL REMIC II Regular Interest and distributions thereon, the Class A-2FL Swap Agreement and payments by the Class A-2FL Swap Counterparty thereunder and the applicable sub-account of the Floating Rate Account as separate assets of Grantor Trust A-2FL, (ii) the Class A-4FL REMIC II Regular Interest and distributions thereon, the Class A-4FL Swap Agreement and payments by the Class A-4FL Swap Counterparty thereunder and the applicable sub-account of the Floating Rate Account as separate assets of Grantor Trust A-4FL, (iii) the Additional Interest, the Additional Interest Account and amounts held from time to time in the Additional Interest Account that represent Additional Interest as separate assets of Grantor Trust Z, (iiiv) the Excess Servicing Strip and amounts held from time to time in the Collection Account that represent the Excess Servicing Strip as separate assets of Grantor Trust E, and (iiiv) the Broker Strip and amounts held from time to time in the Collection Account that represent the Broker Strip as separate assets of Grantor Trust B, and in each case (clauses (i) through (v) above) not of REMIC I or REMIC II, as permitted by Treasury Regulations Section 1.860G-2(i)(1). The Class A-2FL Certificates are hereby designated as representing an undivided beneficial ownership interest in Grantor Trust A-2FL. The Class A-4FL Certificates are hereby designated as representing an undivided beneficial ownership interest in Grantor Trust A-4FL. The Class Z Certificates are hereby designated as representing an undivided beneficial interest in Additional Interest payable on the Trust Mortgage Loans and proceeds thereof. The holder of the Excess Servicing Strip is hereby designated as owning an undivided beneficial interest in the Excess Servicing Strip payable on the Mortgage Loans and the REO Loans and proceeds thereof. The Broker Strip Payees to whom the Broker Strip is payable are hereby designated as owning undivided beneficial interests in the Broker Strip payable on the Mortgage Loans and the REO Loans and proceeds thereof.

Grantor Trust Administration. (a) The REMIC Administrator shall treat each of Grantor Trust Z, Grantor Trust E and Grantor Trust B for tax return preparation purposes, as a "grantor trust" under the Code and shall treat (i) the Additional Interest, the Additional Interest Account and amounts held from time to time in the Additional Interest Account that represent Additional Interest as separate assets of Grantor Trust Z, (ii) the Excess Servicing Strip and amounts held from time to time in the Collection Account that represent the Excess Servicing Strip as separate assets of Grantor Trust E, and (iii) the Broker Strip and amounts held from time to time in the Collection Account Accounts that represent the Broker Strip as separate assets of Grantor Trust B, and in each case clauses (i) above not of REMIC I or REMIC II, as permitted by Treasury Regulations Section 1.860G-2(i)(1). The Class Z Certificates are hereby designated as representing an undivided beneficial interest in Additional Interest payable on the Trust Mortgage Loans and proceeds thereof. The holder of the Excess Servicing Strip is hereby designated as owning an undivided beneficial interest in the Excess Servicing Strip payable on the Mortgage Loans and the REO Loans and proceeds thereof. The Broker Strip Payees to whom the Broker Strip is payable are hereby designated as owning undivided beneficial interests in the Broker Strip payable on the Mortgage Loans and the REO Loans and proceeds thereof.

Grantor Trust Administration. (a) The REMIC Administrator shall treat each of Grantor Trust ZA-2FL, Grantor Trust E AJ-FL and Grantor Trust B E for tax return preparation purposes, as a "grantor trust" under the Code and shall treat (i) the Additional InterestClass A-2FL REMIC II Regular Interest and distributions thereon, the Additional Interest Class A-2FL Swap Agreement and payments by the Class A-2FL Swap Counterparty thereunder and the Class A-2FL Sub-Account and amounts held from time to time in the Additional Interest Account that represent Additional Interest as separate assets of Grantor Trust ZA-2FL, (ii) the Excess Servicing Strip Class AJ-FL REMIC II Regular Interest and amounts held from time to time in distributions thereon, the Collection Class AJ-FL Swap Agreement and payments by the Class AJ-FL Swap Counterparty thereunder and the Class AJ-FL Sub-Account that represent as separate assets of Grantor Trust AJ-FL, and (iii) the Excess Servicing Strip as separate assets of Grantor Trust E, and in clauses (iiii) the Broker Strip and amounts held from time to time in the Collection Account that represent the Broker Strip as separate assets of Grantor Trust B, and in each case above not of any of the Loan REMIC, REMIC I or REMIC II, as permitted by Treasury Regulations Section 1.860G-2(i)(1). The Class Z A-2FL Certificates are hereby designated as representing an undivided beneficial ownership interest in Additional Interest payable on the Grantor Trust Mortgage Loans and proceeds thereofA-2FL. The Class AJ-FL Certificates are hereby designated as representing an undivided beneficial ownership interest in Grantor Trust AJ-FL. The holder of the Excess Servicing Strip is hereby designated as owning an undivided beneficial interest in the Excess Servicing Strip payable on the Mortgage Loans and the REO Loans and proceeds thereof. The Broker Strip Payees to whom the Broker Strip is payable are hereby designated as owning undivided beneficial interests in the Broker Strip payable on the Serviced Mortgage Loans and the REO Loans and proceeds thereof.

Grantor Trust Administration. (a) The REMIC Certificate Administrator shall treat each of Grantor Trust Z, Grantor Trust E and Grantor Trust B Pool for tax return preparation purposes, as a "grantor trust" under the Code and shall treat (i) any and all collections of Additional Post-ARD Interest on the Additional Interest, the Additional Interest Account Trust ARD Loans and any successor Trust REO Loans with respect thereto and amounts held from time to time in the Collection Accounts and/or the Additional Post-ARD Interest Account that represent Additional Post-ARD Interest as separate assets of Grantor Trust ZV, provided that if the Trust Fund does not include any Trust ARD Loans then Grantor Trust V shall not be established, (ii) any and all collections of 500 Xxxxxx Town Center Deferred Interest and/or any 000 Xxxxxx Xxxx Center Repurchase Charge on the 500 Xxxxxx Town Center Trust Mortgage Loan or any successor Trust REO Loan with respect thereto and amounts held from time to time in the applicable Collection Account and/or the 500 Xxxxxx Town Center Account that represent 500 Xxxxxx Town Center Deferred Interest and/or a 500 Xxxxxx Town Center Repurchase Charge as separate assets of the 500 Xxxxxx Town Center Grantor Trust and (iii) the Excess Servicing Strip and amounts held from time to time in the Collection Account Accounts that represent the Excess Servicing Strip as separate assets of Grantor Trust E, and (iii) the Broker Strip and amounts held from time to time E. The Class V Certificates are hereby designated as representing an undivided beneficial ownership interest in the Collection Account that represent the Broker Strip as separate assets of Grantor Trust B, and in each case not of REMIC I or REMIC II, as permitted by Treasury Regulations Section 1.860G-2(i)(1). V. The Class Z Certificates are hereby designated as representing an undivided a beneficial ownership interest in Additional Interest payable on the portion of the 500 Xxxxxx Town Center Grantor Trust Mortgage Loans related to the 500 Xxxxxx Town Center Deferred Interest, and proceeds thereofthe Class A-1, Class XC and Class XP Certificates are hereby designated as representing beneficial ownership interests in the portion of the 500 Xxxxxx Town Center Grantor Trust related to the 000 Xxxxxx Xxxx Center Repurchase Charge. The holder of the Excess Servicing Strip is hereby designated as owning an undivided beneficial interest in the Excess Servicing Strip payable on the Serviced Mortgage Loans and the any successor REO Loans and proceeds thereof. The Broker Strip Payees to whom the Broker Strip is payable are hereby designated as owning undivided beneficial interests in the Broker Strip payable on the Mortgage Loans and the REO Loans with respect thereto and proceeds thereof.