Common use of Grantor Trust Reporting Clause in Contracts

Grantor Trust Reporting. The parties intend that the portion of the Trust Fund constituting the Grantor Trust, which consists of the Class II-A-1-1 and the Swap Agreement, shall constitute, and that the affairs of the Trust Fund (exclusive any REMIC) 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 Trustee 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 III-A-1-1 Certificateholders, their allocable share of income and expense with respect to the Class III-A-1-1 Underlying Interest and the Swap Agreement, each in the time or times and in the manner required by the Code.

Grantor Trust Reporting. The parties intend that the portion of the Trust Fund constituting the Grantor Trust, which consists of the Class II-A-1-1 Underlying Interests, the Swap Account, the Swap Collateral Account and the Swap Agreement, shall constitute, and that the affairs of the Grantor Trust Fund (exclusive any REMIC) 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 Trustee Trust 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 III-A-1-1 Group 3 Floating Rate Certificateholders, their allocable share of income and expense with respect to the Class III-A-1-1 Underlying Interest and the Swap Agreement, each in the time or times and in the manner required by the Code.

Grantor Trust Reporting. The parties intend that the portion of the Trust Fund constituting the Grantor Trust, which consists of the Class III-A-1A-2-1 2 and the Swap Agreement, shall constitute, and that the affairs of the Trust Fund (exclusive any REMIC) 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 Trustee 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 IIII-A-1A-2-1 2 Certificateholders, their allocable share of income and expense with respect to the Class IIII-A-1A-2-1 2 Underlying Interest and the Swap Agreement, each in the time or times and in the manner required by the Code.