REMIC Compliance. (a) The parties intend that each Trust REMIC shall constitute, and that the affairs of each Trust REMIC shall be conducted so as to qualify it as, a “real estate mortgage investment conduit” as defined in, and in accordance with, the REMIC Provisions, and the provisions hereof shall be interpreted consistently with this intention. In furtherance of such intention, the Certificate Administrator shall, to the extent permitted by applicable law, act as agent, and is hereby appointed to act as agent, of each Trust REMIC and shall on behalf of each Trust REMIC: (i) prepare, timely deliver to the Trustee for execution (and the Trustee shall timely execute) and file, or cause to be prepared and filed, all required Tax Returns for each Trust REMIC, using a calendar year as the taxable year for each Trust REMIC when and as required by the REMIC Provisions and other applicable federal, state or local income tax laws; (ii) make an election, on behalf of each Trust REMIC, to be treated as a REMIC on IRS Form 1066 for its first taxable year ending December 31, 2016, in accordance with the REMIC Provisions; (iii) prepare and forward, or cause to be prepared and forwarded, to the Certificateholders (other than the Holders of any Excess Interest Certificates) and the IRS and applicable state and local tax authorities all information reports as and when required to be provided to them in accordance with the REMIC Provisions of the Code; (iv) if the filing or distribution of any documents of an administrative nature not addressed in clauses (i) through (iii) of this Section 4.04(a) is then required by the REMIC Provisions in order to maintain the status of each Trust REMIC as a REMIC or is otherwise required by the Code, prepare, sign and file or distribute, or cause to be prepared and signed and filed or distributed, such documents with or to such Persons when and as required by the REMIC Provisions or the Code or comparable provisions of state and local law; (v) obtain a taxpayer identification number for the Upper-Tier REMIC and Lower-Tier REMIC on IRS Form SS-4, and, within thirty days of the Closing Date, furnish or cause to be furnished to the IRS, on IRS Form 8811 or as otherwise may be required by the Code, the name, title and address of the Person that the holders of the Certificates may contact for tax information relating thereto (and the Certificate Administrator shall act as the representative of each Trust REMIC for this purpose), together with such additional...
REMIC Compliance. Section 3.1 General........................................................ 3.1.1. Applicability............................................... 3.1.2.
REMIC Compliance. 20 SECTION 5.7
REMIC Compliance. The Primary Servicer shall comply with all of the obligations otherwise imposed on the Master Servicer under Article XII of the Pooling and Servicing Agreement insofar as such obligations relate to the Mortgage Loans and/or the A/B Mortgage Loans.
REMIC Compliance. SECTION 4.05 Imposition of Tax on the Trust Fund......................... SECTION 4.06 Remittances; P&I Advances................................... SECTION 4.07 Grantor Trust Reporting..................................... SECTION 4.08 Reinvestment Enhancement Instrument; Reinvestment Reserve Account..............................
REMIC Compliance. The parties intend that the Trust Fund formed hereunder shall constitute, and that the affairs of the Trust Fund shall be conducted so as to qualify it as, a "real estate mortgage investment conduit" as defined in and in accordance with the REMIC Provisions. In furtherance of such intention, the Servicer shall, to the extent permitted by applicable law, act as agent, and is hereby appointed to act as agent, of the Trust Fund and shall on behalf of the Trust Fund: (a) prepare, file and present to the Trustee to sign, or cause to be prepared, filed and presented to the Trustee to be signed, all required federal tax returns for the Trust Fund, including, but not limited to, Form 1066 using a calendar year as the taxable year for the Trust Fund when and as required by the REMIC Provisions and other applicable federal income tax laws; (b) make an election, on behalf of the Trust Fund, to be treated as a REMIC on the Form 1066 for its first taxable year, in accordance with the REMIC Provisions; (c) prepare and forward, or cause to be prepared and forwarded, to the Certificateholders all information reports as and when required to be provided to them in accordance with the REMIC Provisions; (d) take such other actions as are necessary or appropriate to maintain the status of the Trust Fund as a REMIC; and (e) serve as tax matters person for the Trust Fund pursuant to Treasury Regulations Section 1.860F-4(d) or serve as attorney-in-fact and agent for any Person that is the tax matters person. Neither the Trustee nor the Servicer shall take any action or omit to take any action if such action or omission (as the case may be) would cause the termination of the REMIC status of the Trust Fund; provided, however, that neither the Trustee nor the Servicer shall be required to take any action if a Responsible Officer of the Trustee or the Servicer, as applicable, in good faith believes such action or omission to be inconsistent with any other provision of this Agreement. Vanderbilt and the Servicer shall cooperate with the Servicer or its agent for such purpose in supplying any information within their control that is necessary to enable the Servicer to perform its duties under this Section. The Holder of the Class R Certificate, by purchasing such Class R Certificate, (a) shall be deemed to consent to the appointment of the Servicer as (i) the tax matters person for the Trust Fund and (ii) the attorney-in-fact and agent for any person that is the tax matters person if t...
REMIC Compliance. 50 Section 4.18 Management of REO Property............................................................ 55 Section 4.19 Reports to the Securities and Exchange Commission..................................... 57 Section 4.20 Annual Statement as to Compliance..................................................... 57 Section 4.21 Annual Independent Public Accountants' Servicing Report............................... 57 Section 4.22 Retitling of Land Home Contracts...................................................... 57 Section 4.23 Notice of Rating Change............................................................... 58 ARTICLE V PAYMENTS, MONTHLY ADVANCES AND MONTHLY REPORTS........................................... 58 Section 5.01 Monthly Advances by the Servicer...................................................... 58 Section 5.02 Payments.............................................................................. 59 Section 5.03 Permitted Withdrawals from the Certificate Account.................................... 62 Section 5.04 Monthly Reports....................................................................... 63 Section 5.05 Certificate of Servicing Officer...................................................... 66 Section 5.06 Other Data............................................................................ 66 Section 5.07 Statements to Certificateholders...................................................... 66 Section 5.08 Certificate Insurance Policy; Enhancement Payments.................................... 67 Section 5.09 Reserve Account....................................................................... 68 Section 5.10 LOC; Draw Amounts; Spread Account..................................................... 68
REMIC Compliance. (a) The REMIC Administrator shall make an election to treat the Trust Fund as a REMIC under the Code and, if necessary, under applicable state law. Such election will be made on Form 1066 or other appropriate federal tax or information return (including Form 8811) or any appropriate state return for the taxable year ending on the last day of the calendar year in which the Certificates are issued. For the purposes of the REMIC election in respect of the Trust Fund, each of the Class A Certificates shall be designated as the "regular interests" and the Class R Certificates shall be designated as the sole class of "residual interests" in the REMIC. The REMIC Administrator and the Trustee shall not permit the creation of any "interests" (within the meaning of Section 860G of the Code) in the REMIC other than the Certificates.
REMIC Compliance. 61 Section 5.18 Establishment of and Deposits in the Distribution Account........................ 63 Article VI PAYMENTS TO THE CERTIFICATEHOLDERS; WITHDRAWALS FROM CERTIFICATE ACCOUNT
REMIC Compliance. (a) The REMIC Administrator shall make an election to treat the Trust Fund as a REMIC under the Code and, if necessary, under applicable state law. Such election will be made on Form 1066 or other appropriate federal tax or information return (including Form 8811) or any appropriate state return for the taxable year ending on the last day of the calendar year in which the Certificates are issued. For the purposes of the REMIC election in respect of the Trust Fund, each of the Class A, Class M and Class B Certificates shall be designated as the "regular interests" and the Class R Certificates shall be designated as the sole class of "residual interests" in the REMIC. The REMIC Administrator and the Trustee shall not permit the creation of any "interests" (within the meaning of Section 860G of the Code) in the REMIC other than the Certificates.
