Miscellaneous REMIC Provisions Clause Samples

Miscellaneous REMIC Provisions. (a) The Startup Day is hereby designated as the “startup day” of each REMIC created hereunder within the meaning of Section 860G(a)(9) of the Code. (b) The Owner of the Tax Matters Person Residual Interest in each REMIC created hereunder is hereby designated as “tax matters person” as defined in the REMIC Provisions with respect to the REMIC. (c) The Trust and each REMIC created hereunder shall, for federal income tax purposes, maintain books on a calendar year basis and report income on an accrual basis. (d) The Trustee shall cause each REMIC created hereunder to elect to be treated as a REMIC under Section 860D of the Code. Any inconsistencies or ambiguities in this Agreement or in the administration of the Trust shall be resolved in a manner that preserves the validity of such election to be treated as a REMIC. The Trustee shall report all expenses of the Trust Estate to each REMIC created hereunder. (e) For all federal tax law purposes, amounts transferred by the Trustee to the Owners of the Class R Certificates shall be treated as distributions by each respective REMIC created hereunder. (f) The Trustee shall provide to the Internal Revenue Service and to the person described in Section 860E(e)(3) and (6) of the Code the information described in Treasury Regulation Section 1.860D-1(b)(5)(ii), or any successor regulation thereto with respect to each REMIC created hereunder. Such information will be provided in the manner described in Treasury Regulation Section 1.860E-2(a)(5), or any successor regulation thereto.

Miscellaneous REMIC Provisions. (a) The Class A, Class B and Class VRR Certificates and the Uncertificated VRR Interest are hereby designated as the “regular interests” in the Upper-Tier REMIC within the meaning of Section 860G(a)(1) of the Code, and the Class UT-R Interest is hereby designated as the sole class of “residual interests” in the Upper-Tier REMIC within the meaning of Section 860G(a)(2) of the Code. (b) The Class LA, Class LB, Class LVRR and LUVRR Uncertificated Interests are hereby designated as the “regular interests” in the Lower-Tier REMIC within the meaning of Section 860G(a)(1) of the Code, and the Class LT-R Interest is hereby designated as the sole class of “residual interests” in the Lower-Tier REMIC within the meaning of Section 860G(a)(2) of the Code.

Miscellaneous REMIC Provisions. (a) The Class ___, Class ___, Class ___, Class ___, Class ___, Class ___, Class ___, Class ___, Class ___ and Class ___ Interests are hereby designated as "regular interests" in the Lower-Tier REMIC within the meaning of Section 860G(a)(1) of the Code, and the Class __ Certificates are hereby designated as the sole class of "residual interests" in the Lower-Tier REMIC within the meaning of Section 860G(a)(2) of the Code. The Class ___, Class ___, Class ___, Class __, Class __, Class __, Class __, Class __, Class __, Class __, Class ___ and Class ___ Certificates are hereby designated as "regular interests" in the Upper-Tier REMIC within the meaning of Section 860G(a)(1) of the Code and the Class __ Certificates are hereby designated as the sole class of "residual interests" in the Upper-Tier REMIC within the meaning of Section 860G(a)(2) of the Code. The Closing Date is hereby designated as the "Startup Day" of the Lower-Tier REMIC and the Upper-Tier REMIC within the meaning of Section 860G(a)(9) of the Code. The "latest possible maturity date" of the Lower-Tier Regular Interests and the Regular Certificates for purposes of Code Section 860G(a)(1) is the Scheduled Final Distribution Date. The initial Certificate Balance of each Class of Lower-Tier Regular Interests is equal to the Certificate Balance of the Related Class of Certificates. The pass-through rate of each Class of Lower- Tier Regular Interests is a per annum rate equal to the Lower-Tier Pass-Through Rate. (b) None of the Mortgage Loan Seller, Depositor, Trustee or Servicer shall enter into any arrangement by which the Trust Fund will receive a fee or other compensation for services other than as specifically contemplated herein.

Miscellaneous REMIC Provisions. (a) The Trustee shall elect that each of the Lower-Tier REMIC and the Upper-Tier REMIC shall be treated as a REMIC under Section 860D of the Code. Any inconsistencies or ambiguities in this Agreement or in the administration of this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. The assets of the Lower-Tier REMIC shall include the Mortgage Loans, the Accounts (except for the Non-REMIC Estate), any REO Property, and any proceeds of the foregoing. The Lower-Tier REMIC Regular Interests (as defined below) shall constitute the assets of the Upper-Tier REMIC. (b) The Lower-Tier REMIC will be evidenced by (x) Lower-Tier Interest 1, Lower-Tier Interest 2, Lower-Tier Interest 3, Lower-Tier Interest 4, and Lower-Tier Interest 5 (the "Lower-Tier REMIC Regular Interests"), which will be uncertificated and non-transferable and are hereby designated as the "regular interests" in the Lower-Tier REMIC and (y) the Lower-Tier REMIC Residual Interest, which is hereby designated as the single "residual interest" in the Lower-Tier REMIC (the Lower-Tier REMIC Regular Interests, together with the Lower-Tier REMIC Residual Interest, the "Lower-Tier REMIC Interests"). The Lower-Tier REMIC Regular Interests shall be recorded on the records of the Lower-Tier REMIC as being issued to and held by the Trustee on behalf of the Upper-Tier REMIC.

Miscellaneous REMIC Provisions. (a) The beneficial ownership interest in the Lower-Tier REMIC shall be evidenced by the interests having the characteristics and terms as follows: Initial Lower- Lower-Tier Final Scheduled Class Designation Tier Balance Pass-Through Rate Payment Dates ----------------- ------------ ----------------- ------------- Lower-Tier Interest A-1 $81,000,000 (1) September 15, 2007 Lower-Tier Interest A-2 $65,800,000 (1) January 15, 2012 Lower-Tier Interest A-3 $113,400,000 (1) January 15, 2012 Lower-Tier Interest A-4 $42,800,000 (1) January 15, 2012 Lower-Tier Interest A-5 $39,200,000 (1) October 15, 2013 Lower-Tier Interest A-6 $21,300,000 (1) March 15, 2016 Lower-Tier Interest A-7 $35,500,00 (1) March 15, 2023 Lower-Tier Interest A-8 $26,250,000 (1) April 15, 2028 Lower-Tier Interest A-9 $39,375,000 (1) April 15, 2028 Lower-Tier Interest A-10 $251,000,000 (1) April 15, 2028 Lower-Tier Interest A-11IO $0* (1) April 15, 2028 Lower-Tier Interest M-1F $23,625,000 (1) April 15, 2028 Lower-Tier Interest M-1A $25,808,000 (2) April 15, 2028 Lower-Tier Interest M-2F $30,187,000 (1) April 15, 2028 Lower-Tier Interest M-2A $19,375,000 (2) April 15, 2028 Lower-Tier Interest B-1F $6,563,000 (1) April 15, 2028 Lower-Tier Interest B-1A $14,725,000 (2) April 15, 2028 Lower-Tier REMIC Residual Class (3) (3) April 15, 2028 ------------------- (1) On any Payment Date, the Group I Net Weighted Average Coupon Rate. (2) On any Payment Date, the Group II Net Weighted Average Coupon Rate. (3) The Lower-Tier REMIC Residual Class is not issued with a Lower-Tier Balance or a Lower-Tier Pass-Through Rate. (b) The Lower-Tier Interest ▇-▇, ▇-▇, ▇-▇, ▇-▇, ▇-▇, ▇-▇, ▇-▇, ▇-▇, ▇-▇, ▇-▇▇, A-11IO, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇ and B-1A Certificates shall be issued as non-certificated interests. The

Miscellaneous REMIC Provisions. (a) The Class [LA-1], Class [LA-2] Class [LB], Class [LC], Class [LD], Class [LE], Class [LF] and Class [LG] Interests are hereby designated as “regular interests” in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(1), and the Lower-Tier Residual Interest (evidenced by the [Class R] Certificates) is hereby designated as the sole class of “residual interests” in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(2). (b) The [Class [A-1], Class [A-2],] Class [B], Class [C], Class [D], Class [E], Class [F] and Class [G] Certificates [and the Class [A-1] and Class [A-2] Regular Interests] are hereby designated as “regular interests” in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(1) and the Upper-Tier Residual Interest (evidenced by the Class [R] Certificates) is hereby designated as the sole class of “residual interests” in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(2). (c) The Closing Date is hereby designated as the “Startup Day” of each Trust REMIC within the meaning of Section 860G(a)(9) of the Code. The “latest possible maturity date” of the Lower-Tier Regular Interests and the Regular Certificates for purposes of Section 860G(a)(1) of the Code is the date that is the Rated Final Distribution Date. (d) The portions of the Trust Fund consisting of [(i) the Class [A-1] and Class [A-2] Uncertificated Regular Interests and the [Exchangeable] Distribution Account and (ii)] the Excess Interest, the Excess Interest Distribution Account and the proceeds thereof shall be treated as a grantor trust under subpart E, part I of subchapter J of the Code for federal income tax purposes (the “Grantor Trust”). As provided herein, the Trustee shall take all actions expressly required hereunder to ensure that the portion of the Trust Fund consisting of the Grantor Trust maintains its status as a grantor trust under federal income tax law and not be treated as part of the Lower-Tier REMIC or Upper-Tier REMIC. The [Class [A-1], Class [A-2] and Class [EC] Certificates shall represent undivided interests in their respective portions of the Grantor Trust described in clause (i), above and the] Class V Certificates shall represent undivided beneficial interests in the portion of the Grantor Trust consisting of Excess Interest and the proceeds thereof, in the Excess Interest Distribution Account. None of the Depositor, the Trustee, the Master Servicer, the Special Servicer, the Trust Advisor [or the Certificate ...

Miscellaneous REMIC Provisions. (a) The Trust (other than the Pre-Funding Account, the Group II Available Funds Cap Carry-Forward Amount Account and the Capitalized Interest Account) shall elect to be treated as a REMIC under Section 860D of the Code, as described in Section 11.15. Any inconsistencies or ambiguities in this Agreement or in the administration of the Trust shall be resolved in a manner that preserves the validity of the election of the Trust (other than the Pre-Funding Account and the Capitalized Interest Account) to be treated as a REMIC. (b) The Class A Certificates are hereby designated as "regular interests" in the REMIC and the Class R Certificates are hereby designated as the "residual interest" in the REMIC, as defined in Section 860G(a) of the Code. (c) The Startup Day is hereby designated as the "startup day" of the REMIC within the meaning of Section 860G(a)(9) of the Code. (d) The final scheduled Payment Date for any Class of Certificates is hereby set to be the Payment Date succeeding by one year the latest maturity date of any Mortgage Loan in the related Mortgage Loan Group, as follows:

Miscellaneous REMIC Provisions. (a) The Trust Fund for federal income tax purposes will consist of a single REMIC. The Certificates will represent the entire beneficial ownership interest in the Trust Fund. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-6 Certificates will represent the "regular interests" in the Trust Fund and the Class R Certificates will represent the single "residual interest" in the Trust Fund. The Owner of the Tax Matters Person Residual Interest is hereby designated as "tax matters person" as defined in the REMIC Provisions with respect to the Trust. (b) The Trust shall, for federal income tax purposes, maintain books on a calendar year basis and report income on an accrual basis. (c) The Trustee shall cause the Trust to elect to be treated as a REMIC under Section 860D of the Code. Any inconsistencies or ambiguities in this Agreement or in the administration of the Trust shall be resolved in a manner that preserves the validity of such election to be treated as a REMIC. (d) The Trustee shall provide to the Internal Revenue Service and to the Person described in Section 860(E)(e)(3) and (6) of the Code the information described in Treasury Regulation Section 1.860D-l(b)(5)(ii), or any successor regulation thereto with respect to the Trust. Such information will be provided in the manner described in Treasury Regulation Section 1.860E-2(a)(5), or any successor regulation thereto. (e) For federal income tax purposes, the Final Scheduled Distribution Date for each Class of Certificates is hereby set to be the Distribution Date indicated below: Final Scheduled Class Distribution Date ----- ----------------- Class A-1 Certificates April 2014 Class A-2 Certificates September 2016 Class A-3 Certificates May 2008 Class A-4 Certificates April 2014 Class A-5 Certificates August 2022 Class A-6 Certificates December 2028

Miscellaneous REMIC Provisions. (a) The Trustee shall elect that each of REMIC I, REMIC II and REMIC III shall be treated as a REMIC under Section 860D of the Code. Any inconsistencies or ambiguities in this Agreement or in the administration of this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. The assets of REMIC I shall include the Home Equity Loans, the Accounts, any REO Property, and any proceeds of the foregoing. The REMIC I Regular Interests (as defined below) shall constitute the assets of REMIC II. The REMIC II Regular Interests (as defined below) shall constitute the assets of REMIC III. (b) REMIC I will be evidenced by (x) the Class IA, Class IB, and Class IC Certificates (the "REMIC I Regular Interests"), which will be uncertificated and non-transferable and are hereby designated as the "regular interests" in REMIC I and (y) the Class R-I Certificates, which are hereby designated as the single "residual interest" in REMIC I (the REMIC I Regular Interests, together with the Class R-I Certificates, the "REMIC I Certificates"). The REMIC I Regular Interests shall be recorded on the records of REMIC I as being issued to and held by the Trustee on behalf of REMIC II. The Class IA Certificates shall have an initial principal balance equal to the initial principal balance of the Class A-7 Certificates (that is, $26,950,000). The Class IB Certificates shall have an initial principal balance equal to the excess of the Original Group I Loan Balance over the initial principal balance of the Class IA Certificates (that is, $358,167,000). The Class IC Certificates shall have an initial principal balance equal to the Original Group II Loan Balance (that is, $165,000,000). On each Payment Date, principal collections on the Group I Home Equity Loans shall be allocated as follows: an amount equal to the principal payable on the Class A-7 Certificates shall be payable on the Class IA Certificates and the remaining principal collections shall be payable to the Class IB Certificates. On each Payment Date, to the extent that any of the Aggregate Extra Principal Distribution Amount is paid to the Class A-7 Certificates pursuant to Section 7.03(d)(i), an amount of interest otherwise payable on the Class IB Certificates shall instead be paid as principal on the Class IA Certificates (and will be accrued and added to principal on the Class IB Certificates). Realized Losses on the Group I Home Equity Loans shall be allocated as follows: an amount equal to...