Grantor Trust Reporting. (a) The Certificate Administrator shall maintain adequate books and records to account for the separate entitlements of the Grantor Trust.
Grantor Trust Reporting. The parties intend that the portions of the Trust Fund consisting of (i) the Default Interest and the Default Interest Distribution Account and (ii) the Excess Interest and the Excess Interest Distribution Account shall constitute, and that the affairs of the Trust Fund (exclusive of the Trust REMICs) shall be conducted so as to qualify such portion as a "grantor trust" under the Code, and the provisions hereof shall be interpreted consistently with this intention. In furtherance of such intention, the Trustee shall furnish or cause to be furnished to Class V-1 and Class V-2 Certificateholders and shall file or cause to be filed with the Internal Revenue Service together with Form 1041 or such other form as may be applicable, income with respect to their applicable share of Default Interest and the amount of any interest on unreimbursed Advances payable to the Servicer, the Trustee and the Fiscal Agent, as applicable, therefrom pursuant to Section 3.06(iii) in the case of the Class V-1 Certificates, and Excess Interest in the case of the Class V-2 Certificates, at the time or times and in the manner required by the Code.
Grantor Trust Reporting. (a) The parties intend that the portion of the Trust Fund constituting the Grantor Trust shall constitute, and that the affairs of the Grantor Trust shall be conducted so as to qualify such portion as, a “grantor trust” under subpart E, part I of subchapter J of the Code, and the provisions hereof shall be interpreted consistently with this intention. In furtherance of such intention, neither the Trustee nor the Certificate Administrator shall have the power to vary the investment of the Certificateholders in the Grantor Trust so as to improve their rate of return. The Certificate Administrator shall prepare or cause to be prepared, submit to the Trustee for execution (and the Trustee shall timely execute and timely return to the Certificate Administrator) and timely file all Tax Returns in respect of the Grantor Trust. In addition, the Certificate Administrator shall (A) file, or cause to be filed, Internal Revenue Service Form 1041, Form 1099 or such other form as may be applicable with the Internal Revenue Service with copies of the statements in the following clause and (B) furnish, or cause to be furnished, to the Certificateholders, their allocable share of income and expense with respect to the related Specific Grantor Trust Assets in the time or times and in the manner required by the Code.
Grantor Trust Reporting. The parties intend that the portions of the Trust Fund consisting of the right to receive all Excess Interest with respect to the Mortgage Loans and related amounts held from time to time in the Excess Interest Distribution Account, which will be beneficially owned by the Holders of the Class V Certificates, be treated as a grantor trust under subpart E, part I of subchapter J of the Code. In furtherance of such intention, the Certificate Administrator shall furnish or cause to be furnished annually, and shall file or cause to be filed with the IRS together with Form 1041 or Form 1099 or such other Tax Return or form as may be applicable, to the Holders of [the Class [EC] Certificates and] the Class V Certificates, the amount of any Excess Interest received with respect to the Mortgage Loans. Under no circumstances shall the Certificate Administrator, the Trustee, the Master Servicer or the Special Servicer have the power to vary the investment of the [the Class [EC] Certificates and] Class V Certificates in the Grantor Trust to take advantage of variations in the market rate of interest to improve their rate of return. The Grantor Trust is a WHFIT that is a WHMT. The Certificate Administrator shall report as required under the WHFIT Regulations, provided that the Certificate Administrator receives on a timely basis any and all information not already in its possession reasonably necessary for it to do so. The Certificate Administrator is hereby directed to assume that the Class V Certificates are not held by a “middleman” (as such term is defined in the WHFIT Regulations) unless the Holder thereof or the Depositor provides the Certificate Administrator with the identity of any “middleman” that is the Holder of a Class V Certificate. The Certificate Administrator shall be entitled to rely on the first sentence of this paragraph and shall be entitled to indemnification in accordance with the terms of this Agreement in the event that the IRS makes a determination that the first sentence of this paragraph is incorrect. The Certificate Administrator shall report required WHFIT information using the accrual method, except to the extent the WHFIT Regulations specifically require a different method. The Certificate Administrator is under no obligation to determine whether the Holder of any Class V Certificate or other beneficial owner of a Class V Certificate, to the extent the Certificate Administrator knows of any other beneficial owner of a Class V Certificate...
Grantor Trust Reporting. The Grantor Trustee shall furnish or cause to be furnished to the Holder of the Grantor Trust Certificate and shall file or cause to be filed with the Internal Revenue Service, together with Form 1041 or such other form as may be applicable, such information with respect to the income and deductions of the Grantor Trust at the time or times and in the manner required by the Code, including such other customary factual information as is available to the Grantor Trustee to enable the Grantor Trust Certificateholder to prepare its tax returns, including information required with respect to computing the accrual of original issue and market discount.
Grantor Trust Reporting. (a) The parties intend that the Class A-1 Grantor Trust, which consists of the Class A-1 Underlying Interest, the Class A-1 Swap Account, the Class A-1 Swap Collateral Account and the Class A-1 Swap Agreement, shall constitute, and that the affairs of the Class A-1 Grantor Trust shall be conducted so as to qualify such portion as, a “grantor trust” under subpart E, Part I of subchapter J of the Code, and the provisions hereof shall be interpreted consistently with this intention. In furtherance of such intention, the Securities Administrator shall (A) file, or cause to be filed, Internal Revenue Service Form 1041 or such other form as may be applicable with the Internal Revenue Service and (B) furnish, or cause to be furnished, to the Class A-1 Certificateholders, their allocable share of income and expense with respect to the Class A-1 Underlying Interest and the Class A-1 Swap Agreement, each in the time or times and in the manner required by the Code.
Grantor Trust Reporting. ARTICLE XIII
Grantor Trust Reporting. ARTICLE XI
Grantor Trust Reporting. The parties intend that Grantor Trust V-1 shall be treated as a Grantor Trust, and the provisions thereof shall be interpreted consistently with this intention. In furtherance of such intention, the Trustee shall furnish or cause to be furnished to the Class V-1 Certificateholders and shall file or cause to be filed with the Internal Revenue Service together with Form 1041 or such other form as may be applicable for Grantor Trust V-1 and shall furnish or cause to be furnished to the Holders of the Class V-1 Certificates their allocable share of income with respect to Excess Interest as such amounts accrue.
Grantor Trust Reporting. (a) The parties intend that the Class 2-A-1-2 Supplemental Interest Trust shall constitute, and that the affairs of the Class 2-A-1-2 Supplemental Interest Trust shall be conducted so as to qualify such portion as, a “grantor trust” under subpart E, Part I of subchapter J of the Code, and the provisions hereof shall be interpreted consistently with this intention.