REMIC AND GRANTOR TRUST ADMINISTRATION Sample Clauses

REMIC AND GRANTOR TRUST ADMINISTRATION. The provisions of this Article XII shall apply to each REMIC Pool and the Grantor Trust, as applicable.
REMIC AND GRANTOR TRUST ADMINISTRATION. (a) As set forth in the Preliminary Statement hereto, the Trustee shall elect REMIC status in accordance with the REMIC Provisions with respect to the REMIC. The Trustee shall make such elections on Forms 1066 or other appropriate federal tax or information return for the taxable year ending on the last day of the calendar year in which the Certificates are issued. For the purposes of such elections, each Class of Certificates (other than the Class R and Class P Certificates) is hereby designated as a regular interest in the REMIC. The Class R Certificate is hereby designated as the sole residual interest in the REMIC. It is the intention of the parties hereto that the segregated pool of assets consisting of any collections of Prepayment Penalty Amounts constitute a grantor trust for federal income tax purposes. The Trustee, by its execution and delivery hereof, acknowledges the assignment to it of the Grantor Trust Assets and declares that it holds and will hold such assets in trust for the exclusive use and benefit of all present and future Holders of the Class P Certificates. The rights of Holders of the Class P Certificates to receive distributions from the proceeds of the Grantor Trust Assets and all ownership interests of such Holders in and to such distributions, shall be as set forth in this Agreement.
REMIC AND GRANTOR TRUST ADMINISTRATION. The provisions of this Article XII shall apply to each REMIC Pool, the Class PST Grantor Trust and the Class J Grantor Trust, as applicable.
REMIC AND GRANTOR TRUST ADMINISTRATION. The provisions of this Article XII shall apply to each REMIC Pool.
REMIC AND GRANTOR TRUST ADMINISTRATION. The provisions of this Article XII (other than Section 12.5) shall apply to each REMIC Pool.
REMIC AND GRANTOR TRUST ADMINISTRATION. Section 9.01.
REMIC AND GRANTOR TRUST ADMINISTRATION. The provisions of this Article XII (other than Section 12.5) shall apply to each REMIC Pool and the Excess Interest Grantor Trust, as applicable.
REMIC AND GRANTOR TRUST ADMINISTRATION. (a) REMIC elections for each REMIC created hereunder as set forth in the Preliminary Statement and this Section 10.01 shall be made on Forms 1066 or other appropriate federal tax or information return for the taxable year ending on the last day of the calendar year in which the Certificates are issued. For purposes of such elections, (i) each of the SWAP REMIC Regular Interests is hereby designated as a regular interest in the SWAP REMIC; (ii) each of the REMIC I-1 Regular Interests is hereby designated as a regular interest in REMIC I-1; (iii) each of the REMIC I-2 Regular Interests is hereby designated as a regular interest in REMIC I-2; (iv) each of the REMIC I-3 Regular Interests is hereby designated as a regular interest in REMIC I-3; (v) each of the REMIC II-1 Regular Interests is hereby designated as a regular interest in REMIC II-1; (vi) each of the REMIC II-2 Regular Interests is hereby designated as a regular interest in REMIC II-2; (vii), each of the REMIC II-3 Regular Interests is hereby designated as a regular interest in REMIC II-3; (viii) each of the REMIC III-1 Regular Interests is hereby designated as a regular interest in REMIC III-1; and (ix) each of the REMIC III-2 Regular Interests is hereby designated as a Regular Interest in REMIC III-2. The Class SW-R Interest is hereby designated as the sole residual interest in the SWAP REMIC. The Class LTI1-R Interest is hereby designated as the sole residual interest in REMIC I-1. The Class LTI2-R Interest is hereby designated as the sole residual interest in REMIC I-2. The Residual I Interest is hereby designated as the sole residual interest in REMIC I-3. The Class LTII1-R Interest is hereby designated as the sole residual interest in REMIC II-1. The Class LTII2-R Interest is hereby designated as the sole residual interest in REMIC II-2. The Class LTII3-R Interest is hereby designated as the sole residual interest in REMIC II-3. The Class LTIII1-R Interest is hereby designated as the sole residual interest in REMIC III-1. The Class LTIII2-R Interest is hereby designated s the sole residual interest in REMIC III-2. The Class R-I Certificate evidences ownership of the Class SW-R Interest, the Class LTI1-R Interest, the Class LTI2-R Interest and the Residual I Interest. The Class R-II Certificate evidences ownership of the Class LTII1-R Interest, the Class LTII2-R Interest and the Class LTII3-R Interest. The Class R-III Interest evidences ownership of the Class LTIII1-R Interest and the Class LTI...
REMIC AND GRANTOR TRUST ADMINISTRATION. The provisions of this Article XII shall apply to each REMIC Pool, the Class A-2FL Grantor Trust, the Class A-MFL Grantor Trust, the Class A-JFL Grantor Trust and the Excess Interest Grantor Trust, as applicable.