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 (i) the Excess Interest allocable to the Mortgage Loans, proceeds thereof held in the Certificate Account pertaining to the Excess Interest allocable to the Mortgage Loans and the Excess Interest Distribution Account and (ii) the Class A-2FL Regular Interest, the Swap Contract, the Floating Rate Account and proceeds thereof, shall constitute, and that the affairs of the Trust Fund (exclusive of the Lower-Tier REMIC and the Upper-Tier 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 Paying Agent 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, (B) furnish, or cause to be furnished, to the Class S Certificateholders, their allocable share of income with respect to Excess Interest accrued or received, as applicable, and (C) furnish, or cause to be furnished, to the Class A-2FL Certificateholders, their allocable share of income and expense with respect to the Class A-2FL Regular Interest and the Swap Contract, each in the time or times and in the manner required by the Code. [End of Article IV]

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Jp Morgan Chase Commercial Mortgage Securities Corp), Pooling and Servicing Agreement (Jp Morgan Chase Commercial Mortgage Securities Corp), Pooling and Servicing Agreement (Jp Morgan Chase Commercial Mortgage Securities Corp)

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Grantor Trust Reporting. The parties intend that the portion of the Trust Fund constituting the Grantor Trust, which consists of (i) the Excess Interest allocable to the Mortgage Loans, proceeds thereof held in the Certificate Account Accounts pertaining to the Excess Interest allocable to the Mortgage Loans and the Excess Interest Distribution Account and (ii) the Class A-2FL Regular Interest, the Swap Contract, the Floating Rate Account and proceeds thereof, shall constitute, and that the affairs of the Trust Fund (exclusive of the Lower-Tier REMIC and the Upper-Tier 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 Paying Agent 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, (B) furnish, or cause to be furnished, to the Class S Certificateholders, their allocable share of income with respect to Excess Interest accrued or received, as applicable, and (C) furnish, or cause to be furnished, to the Class A-2FL Certificateholders, their allocable share of income and expense with respect to the Class A-2FL Regular Interest and the Swap Contract, each in the time or times and in the manner required by the Code. [End of Article IV]

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (JPMorgan Chase Commercial Mortgage Securities Corp. Series 2005-Ldp5), Pooling and Servicing Agreement (JPMorgan Chase Commercial Mortgage Securities Corp. Series 2005-Ldp5)

Grantor Trust Reporting. The parties intend that the portion of the Trust Fund constituting the Grantor Trust, which consists of (i) the Excess Interest allocable to the Mortgage Loans, proceeds thereof held in the Certificate Account pertaining to the Excess Interest allocable to the Mortgage Loans and the Excess Interest Distribution Account and (ii) the Class A-2FL A-3FL Regular Interest, the Swap Contract, the Floating Rate Account and proceeds thereof, shall constitute, and that the affairs of the Trust Fund (exclusive of the Lower-Tier REMIC and the Upper-Tier 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 Paying Agent 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, (B) furnish, or cause to be furnished, to the Class S Certificateholders, their allocable share of income with respect to Excess Interest accrued or received, as applicable, and (C) furnish, or cause to be furnished, to the Class A-2FL A-3FL Certificateholders, their allocable share of income and expense with respect to the Class A-2FL A-3FL Regular Interest and the Swap Contract, each in the time or times and in the manner required by the Code. [End of Article IV]

Appears in 1 contract

Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2006-Ldp7)

Grantor Trust Reporting. The parties intend that the portion portions of the Trust Fund constituting the Grantor Trust, which consists consisting of (i) the Excess Interest allocable to the Mortgage LoansDefault Interest, proceeds thereof held in the Certificate Account pertaining to the Excess Interest allocable to the Mortgage Loans therefrom and the Excess Interest Class Q Distribution Account and (ii) the Class A-2FL Regular Deferred Interest, proceeds therefrom and the Swap Contract, the Floating Rate Deferred Interest Distribution Account and proceeds thereof, shall constitute, and that the affairs of the Trust Fund (exclusive of the Lower-Tier REMIC and the Upper-Tier REMICTrust REMICs) 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 Paying Agent Trustee shall (A) file, furnish or cause to be filed, Internal Revenue Service furnished to Certificateholders and shall file or cause to be filed with the IRS together with Form 1041 or such other form as may be applicable with the Internal Revenue Serviceapplicable, (Bi) furnish, or cause to be furnished, to the Holders of the Class S CertificateholdersQ Certificates, income with respect to their allocable share of Default Interest and the amount of any Advance Interest Amounts paid to the Master Servicer, the Special Servicer or the Trustee, as applicable, therefrom pursuant to Section 3.06(ii), as such amounts are received by or accrue to the Trust Fund, as the case may be, at the time or times and in the manner required by the Code and (ii) to the Holders of the Classes of Regular Certificates entitled thereto as set forth in Section 2.06(b), income with respect to Excess Interest accrued or received, as applicable, and (C) furnish, or cause to be furnished, to the Class A-2FL Certificateholders, their allocable share of income and expense with respect Deferred Interest, as such amounts are received by or accrue to the Class A-2FL Regular Interest and Trust Fund, as the Swap Contractcase may be, each in at the time or times and in the manner required by the Code. [End of Article IV].

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Cap I Inc Comm Mort Pass THR Cer Ser 1998 Xl2)

Grantor Trust Reporting. The parties intend that the portion of the Trust Fund constituting the Grantor Trust, which consists of (i) the Excess Interest allocable to the Mortgage Loans, proceeds thereof held in the Certificate Account pertaining to the Excess Interest allocable to the Mortgage Loans and the Excess Interest Distribution Account and (ii) the Class A-2FL A-JFL Regular Interest, the Swap Contract, the Floating Rate Account and proceeds thereof, shall constitute, and that the affairs of the Trust Fund (exclusive of the Lower-Tier REMIC and the Upper-Tier 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 Paying Agent shall (A) file, or cause to be filed, filed with the Internal Revenue Service together with Form 1041 or such other form as may be applicable with the Internal Revenue Serviceapplicable, (B) furnish, or cause to be furnished, to the Class S Certificateholders, their allocable share of income with respect to Excess Interest accrued or received, as applicable, and (C) furnish, or cause to be furnished, to the Class A-2FL A-JFL Certificateholders, their allocable share of income and expense with respect to the Class A-2FL A-JFL Regular Interest and the Swap Contract, each in the time or times and in the manner required by the Code. [End of Article IV]

Appears in 1 contract

Samples: Pooling and Servicing Agreement (JPMorgan Chase Commercial Mortgage Securities Corp, Series 2005-Cibc11)

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Grantor Trust Reporting. The parties intend that the portion portions of the Trust Fund constituting the Grantor Trust, which consists consisting of (i) the Excess Default Interest allocable to and the Mortgage LoansDefault Interest Distribution Account, proceeds thereof held in the Certificate Account pertaining to (ii) the Excess Interest allocable to the Mortgage Loans and the Excess Interest Distribution Account Account, (iii) Repurchase Return of Premium Amounts, (iv) the Post-Lock Out Return of Premium Amounts, (v) the Repurchase Price Return of Premium Distribution Account, and (iivi) the Class A-2FL Regular Interest, the Swap Contract, the Floating Rate Post-Lock Out Return of Premium Distribution Account and proceeds thereof, shall constitute, and that the affairs of the Trust Fund (exclusive of the Lower-Tier REMIC and the Upper-Tier REMICTrust REMICs) shall be conducted so as to qualify such portion as, 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 Paying Agent Trustee shall (A) file, furnish or cause to be filedfurnished information (i) as to the Class V-1 Certificateholders, Internal Revenue Service income with respect to their applicable share of Default Interest and the amount of any interest on unreimbursed Advances payable to the Servicer, the Co-Servicer, the Trustee and the Fiscal Agent, as applicable, therefrom pursuant to Section 3.06(iii), (ii) as to the Class V-2 Certificateholders, the Excess Interest accrued thereon, (iii) as to the Class PS-1 Certificateholders, the Repurchase Return of Premium Amounts distributable thereto, and (iv) as to the Depositor, the Post-Lock Out Return of Premium Amounts distributable thereto, and shall file or cause to be filed with the IRS such information, together with Form 1041 or such other form as may be applicable with the Internal Revenue Service, (B) furnish, or cause to be furnished, to the Class S Certificateholders, their allocable share of income with respect to Excess Interest accrued or received, as applicable, and (C) furnish, or cause to be furnished, to the Class A-2FL Certificateholders, their allocable share of income and expense with respect to the Class A-2FL Regular Interest and the Swap Contract, each in at the time or times and in the manner required by the Code. [End of Article IV].

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Capco America Securitization Corp)

Grantor Trust Reporting. The parties intend that the portion of the Trust Fund constituting the Grantor Trust, which consists of (i) the Excess Interest allocable to the Mortgage Loans, proceeds thereof held in the Certificate Account Accounts pertaining to the Excess Interest allocable to the Mortgage Loans and the Excess Interest Distribution Account and (ii) the Class A-2FL Regular Interest, the Swap Contract, the Floating Rate Account and proceeds thereof, shall constitute, and that the affairs of the Trust Fund (exclusive of the Lower-Tier REMIC and the Upper-Tier 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 Paying Agent 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, (B) furnish, or cause to be furnished, to the Class S Certificateholders, their allocable share of income with respect to Excess Interest accrued or received, as applicable, and (C) furnish, or cause to be furnished, to the Class A-2FL Certificateholders, their allocable share of income and expense with respect to the Class A-2FL Regular Interest and the Swap Contract, each in the time or times and in the manner required by the Code. [End of Article IV]

Appears in 1 contract

Samples: Pooling and Servicing Agreement (JPMorgan Chase Commercial Mortgage Securities Corp Series 2005-Ldp4)

Grantor Trust Reporting. (a) The parties intend that the portion of the Trust Fund constituting the Grantor Trust, which consists of (i) the Excess Interest allocable to the Mortgage Loans, proceeds thereof held in the Certificate Account pertaining to the Excess Interest allocable to the Mortgage Loans and the Excess Interest Distribution Account and (ii) the Class A-2FL A-MFL Regular Interest, the Swap Contract, the Floating Rate Account and proceeds thereof, shall constitute, and that the affairs of the Trust Fund (exclusive of the Lower-Tier REMIC and the Upper-Tier 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 have no power to vary the investment of the Class A-MFL Certificateholders in their related assets so as to improve their rate of return. In addition, the Paying Agent shall (A) as soon as possible after the Swap Contract is entered into (but no later than the first payment date under the Swap Contract), obtain a taxpayer identification number for the Grantor Trust and deliver or cause to be delivered the federal taxpayer identification number of the Grantor Trust on an IRS Form W-9 to the Swap Counterparty and, if requested by the Swap Counterparty (unless not permitted under federal income tax law), an applicable IRS Form W-8IMY, (B) file, or cause to be filed, Internal Revenue Service Form 1041 or such other form as may be applicable with the Internal Revenue Service, (B) furnish, or cause to be furnished, to Service with copies of the Class S Certificateholders, their allocable share of income with respect to Excess Interest accrued or received, as applicablestatements in the following clause, and (C) furnish, or cause to be furnished, to the Class A-2FL A-MFL Certificateholders, their allocable share of income and expense with respect to the Class A-2FL A-MFL Regular Interest and the Swap Contract, each in the time or times and in the manner required by the Code. [End of Article IV].

Appears in 1 contract

Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-Cibc20)

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