Common use of REMIC Declarations; Other REMIC Matters Clause in Contracts

REMIC Declarations; Other REMIC Matters. (a) Xxxxxx Xxx hereby declares its intent that each REMIC Trust formed hereunder shall constitute, and the affairs of each REMIC Trust be conducted so as to qualify each REMIC Trust as a REMIC pursuant to Section 860D of Subchapter M of Chapter 1 of the Code. The RL Class Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by the Lower Tier REMIC within the meaning of Section 860G(a)(2) of the Code, and the Lower Tier Regular Interests are hereby designated as “regular interests” in such REMIC within the meaning of Section 860G(a)(1) of the Code. The RM Class Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by the Middle Tier REMIC within the meaning of Section 860G(a)(2) of the Code, and the Middle Tier Regular Interests are hereby designated as “regular interests” in the Middle Tier REMIC within the meaning of Section 860G(a)(1) of the Code. The AR Class Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by the Upper Tier REMIC within the meaning of Section 860G(a)(2) of the Code, and the Certificates (other than the AR, RM and RL Classes) are hereby designated as the “regular interests” in such REMIC within the meaning of Section 860G(a)(1) of the Code. The date designated as the “startup day” of each REMIC Trust under this Trust Agreement within the meaning of Section 860G(a)(9) of the Code shall be the Settlement Date.

Appears in 2 contracts

Samples: Fannie Mae, Fannie Mae

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REMIC Declarations; Other REMIC Matters. (a) Xxxxxx Xxx hereby declares its intent that each of Lower Tier REMIC Trust I, Upper Tier REMIC I and REMIC II formed hereunder shall constitute, and the affairs of each of Lower Tier REMIC Trust I, Upper Tier REMIC I and REMIC II shall be conducted so as to qualify each REMIC Trust as as, a REMIC pursuant to Section 860D of Subchapter M of Chapter 1 of the Code. The date designated as the “startup day” of each REMIC within the meaning of Section 860G(a)(9) of the Code shall be the Settlement Date. The Class 57-RL Class Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by the Lower Tier REMIC I within the meaning of Section 860G(a)(2) of the Code, and the Lower Tier REMIC I Regular Interests Classes are hereby designated as “regular interests” in such REMIC within the meaning of Section 860G(a)(1) of the Code. The RM Class 57-R Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by the Middle Upper Tier REMIC I within the meaning of Section 860G(a)(2) of the Code, and the Middle each remaining Class of Upper Tier Regular Interests are REMIC I Certificates is hereby designated as a “regular interestsinterest” in the Middle Tier such REMIC within the meaning of Section 860G(a)(1) of the Code. The AR Class 57-RA Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by the Upper Tier REMIC II within the meaning of Section 860G(a)(2) of the Code, and the each remaining Class of REMIC II Certificates (other than the AR, RM and RL Classes) are is hereby designated as the a “regular interestsinterest” in such REMIC within the meaning of Section 860G(a)(1) of the Code. The date designated In furtherance of the intentions expressed in the preceding two paragraphs, Xxxxxx Xxx covenants and agrees that it shall: (a) prepare, sign and file, or arrange to be prepared, signed and filed, a federal income tax return using a calendar year as the “startup day” taxable year for each of Lower Tier REMIC I, Upper Tier REMIC I and REMIC II, as applicable, when and as required by the Code, on which a REMIC election shall be made with respect to each such REMIC, (b) conduct the affairs of each of Lower Tier REMIC Trust I, Upper Tier REMIC I and REMIC II so as to maintain the status thereof as a REMIC under this Trust Agreement within the meaning Code, (c) not knowingly or intentionally take any action or omit to take any action that would cause the termination of Section 860G(a)(9the REMIC status of any REMIC, and (d) hold harmless and indemnify the Holder of any Residual Certificate against any liability on account of any federal income tax (including interest and penalties) imposed on the related REMIC to the extent that any such tax shall be paid or payable by it. Xxxxxx Mae, as Trustee of each REMIC, will prepare, sign and file each annual federal income tax return for the related REMIC and such information returns as are required by Treasury regulations. In addition, Xxxxxx Xxx will act as the tax matters person for each REMIC in a fiduciary capacity, in the case of Upper Tier REMIC I, for the Holder of the Class 57-R Certificate; in the case of REMIC II, for the Holder of the Class 57-RA Certificate; and in the case of Lower Tier REMIC I, for the Holder of the Class 57-RL Certificate. In addition, Xxxxxx Xxx will provide to each Holder of a Certificate any information or reports regarding the Certificates that may be required under the Code. In addition, Xxxxxx Mae will provide to the Internal Revenue Service and to persons described in section 860E(e)(3) and (6) of the Code shall the information described in section 1.860D-1(b)(5)(ii) of the Regulations, or any successor regulation thereto. Such information will be provided in the Settlement Datemanner described in section 1.860E-2(a)(5) of the Regulations, or any successor regulation thereto.

Appears in 1 contract

Samples: Trust Agreement

REMIC Declarations; Other REMIC Matters. (a) Xxxxxx Xxx hereby declares its intent that each of Lower Tier REMIC Trust I, Upper Tier REMIC I and REMIC II formed hereunder shall constitute, and the affairs of each of Lower Tier REMIC Trust I, Upper Tier REMIC I and REMIC II shall be conducted so as to qualify each REMIC Trust as as, a REMIC pursuant to Section 860D of Subchapter M of Chapter 1 of the Code. The Class 116-RL Class Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by the Lower Tier REMIC I within the meaning of Section 860G(a)(2) of the Code, and the Lower Tier Regular Interests Classes are hereby designated as “regular interests” in such REMIC within the meaning of Section 860G(a)(1) of the Code. The RM Class 116-R Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by the Middle Upper Tier REMIC I within the meaning of Section 860G(a)(2) of the Code, and the Middle each remaining Class of Upper Tier Regular Interests are REMIC I Certificates is hereby designated as a “regular interestsinterest” in the Middle Tier such REMIC within the meaning of Section 860G(a)(1) of the Code. The AR Class 116-RA Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by the Upper Tier REMIC II within the meaning of Section 860G(a)(2) of the Code, and the each remaining Class of REMIC II Certificates (other than the AR, RM and RL Classes) are is hereby designated as the a “regular interestsinterest” in such REMIC within the meaning of Section 860G(a)(1) of the Code. The date designated as the “startup day” of each REMIC Trust under this Trust Agreement within the meaning of Section 860G(a)(9) of the Code shall be the Settlement Date.. In furtherance of the intentions expressed in the foregoing paragraph, Xxxxxx Xxx covenants and agrees that it shall: (a) prepare, sign and file, or arrange to be prepared, signed and filed, a federal income tax return using a calendar year as the taxable year for each of Lower Tier REMIC I, Upper Tier REMIC I and REMIC II, as applicable, when and as required by the Code, on which a REMIC election shall be made with respect to Lower Tier REMIC I, Upper Tier REMIC I or REMIC II, as applicable, (b) conduct the affairs of each of Lower Tier REMIC I, Upper Tier REMIC I and REMIC II so as to maintain the status thereof as a REMIC under the Code, (c) not knowingly or intentionally take any action or omit to take any action that would cause the termination of the REMIC status of any REMIC, and (d) hold harmless and indemnify the Holder of any Residual Certificate against any liability on account of any federal income tax (including interest and penalties) imposed on the related REMIC to the extent that any such tax shall be paid or payable by it. Xxxxxx Mae, as Trustee of each REMIC, will prepare, sign and file each annual federal income tax return for the related REMIC and such information returns as are required by Treasury regulations. In addition, Xxxxxx Xxx will act as the tax matters person for each REMIC in a fiduciary capacity, in the case of Upper Tier REMIC I, for the Holder of the Class 116-R Certificate; in the case of REMIC II, for the Holder of the Class 116-RA Certificate; and, in the case of Lower Tier REMIC I, for the Holder of the Class 116-RL Certificate. In addition, Xxxxxx Xxx will provide to each Holder of a Certificate any information or reports regarding the Certificates that may be required under the Code. In addition, Xxxxxx Mae will provide to the Internal Revenue Service and to persons described in section 860E(e)(3) and (6) of the Code the information described in section 1.860D-1(b)(5)(ii) of the Regulations, or any successor regulation thereto. Such information will be provided in the manner described in section

Appears in 1 contract

Samples: Trust Agreement

REMIC Declarations; Other REMIC Matters. (a) Xxxxxx Xxx hereby declares its intent that each REMIC Trust formed hereunder shall constitute, and the affairs of each REMIC Trust trust be conducted so as to qualify each REMIC Trust as a REMIC pursuant to Section 860D of Subchapter M of Chapter 1 of the Code. Code.‌ The RL Class Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by the Lower Tier REMIC within the meaning of Section 860G(a)(2) of the Code, and the Lower Tier Regular Interests are hereby designated as “regular interests” in such REMIC within the meaning of Section 860G(a)(1) of the Code. The RM Class Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by the Middle Tier REMIC within the meaning of Section 860G(a)(2) of the Code, and the Middle Tier Regular Interests are hereby designated as “regular interests” in the Middle Tier REMIC within the meaning of Section 860G(a)(1) of the Code. The AR A-R Class Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by the Upper Tier REMIC within the meaning of Section 860G(a)(2) of the Code, and the Certificates (other than the ARA-R, RM and RL Classes) are hereby designated as the “regular interests” in such REMIC within the meaning of Section 860G(a)(1) of the Code. The date designated as the “startup day” of each REMIC Trust under this Trust Agreement within the meaning of Section 860G(a)(9) of the Code shall be the Settlement Date.

Appears in 1 contract

Samples: Fannie Mae

REMIC Declarations; Other REMIC Matters. (a) Xxxxxx Xxx hereby declares its intent that each the Lower Tier REMIC, REMIC Trust 1 and REMIC Trust 2 formed hereunder each shall constitute, and the affairs of each the Lower Tier REMIC, REMIC Trust 1 and REMIC Trust 2 each shall be conducted so as to qualify each REMIC Trust as as, a REMIC pursuant to Section 860D of Subchapter M of Chapter 1 of the Code. The Class 72-RL Class Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by the Lower Tier REMIC within the meaning of Section 860G(a)(2) of the Code, and the Lower Tier Regular Interests Classes are hereby designated as “regular interests” in such REMIC within the meaning of Section 860G(a)(1) of the Code. The RM Class 72-R Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by the Middle Tier REMIC Trust 1 within the meaning of Section 860G(a)(2) of the Code, and each Group 1, Group 3, Group 4 and Group 5 Class (as specified in the Middle Tier Regular Interests are Prospectus Supplement) is hereby designated as a “regular interestsinterest” in the Middle Tier such REMIC within the meaning of Section 860G(a)(1) of the Code. The AR Class 72-RA Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by the Upper Tier REMIC Trust 2 within the meaning of Section 860G(a)(2) of the Code, and each Group 2 Class (as specified in the Certificates (other than the AR, RM and RL ClassesProspectus Supplement) are is hereby designated as the a “regular interestsinterest” in such REMIC within the meaning of Section 860G(a)(1) of the Code. The date designated as the “startup day” of each REMIC Trust under this Trust Agreement within the meaning of Section 860G(a)(9) of the Code shall be the Settlement Date. In furtherance of the intentions expressed in the foregoing paragraph, Xxxxxx Xxx covenants and agrees that it shall: (a) prepare, sign and file, or arrange to be prepared, signed and filed, a federal income tax return using a calendar year as the taxable year for each Trust when and as required by the Code, on which return a REMIC election shall be made with respect to such Trust, (b) conduct the affairs of each of the Lower Tier REMIC, REMIC Trust 1 and REMIC Trust 2 so as to maintain the status thereof as REMICs under the Code, (c) not knowingly or intentionally take any action or omit to take any action that would cause the termination of the REMIC status of any of the Lower Tier REMIC, REMIC Trust 1 or REMIC Trust 2, and (d) hold harmless and indemnify the Holder of any Residual Certificate against any liability on account of any federal income tax (including interest and penalties) imposed on the related Trust to the extent that any such tax shall be paid or payable by it. Xxxxxx Mae, as Trustee of the Base Trust (including the Lower Tier REMIC), REMIC Trust 1 and REMIC Trust 2, will prepare, sign and file each annual federal income tax return for the related Trust and such information returns as are required by Treasury regulations. In addition, Xxxxxx Xxx will act as the tax matters person for each such Trust in a fiduciary capacity, in the case of REMIC Trust 1, for the Holder of the Class 72-R Certificate; in the case of REMIC Trust 2, for the Holder of the Class 72-RA Certificate; and, in the case of the Lower Tier REMIC, for the Holder of the Class 72-RL Certificate. In addition, Xxxxxx Xxx will provide to each Holder of a Certificate any information or reports regarding the Certificates that may be required under the Code. In addition, Xxxxxx Mae will provide to the Internal Revenue Service and to persons described in section 860E(e)(3) and (6) of the Code the information described in section 1.860D-1(b)(5)(ii) of the Regulations, or any successor regulation thereto. Such information will be provided in the manner described in section 1.860E-2(a)(5) of the Regulations, or any successor regulation thereto.

Appears in 1 contract

Samples: Trust Agreement

REMIC Declarations; Other REMIC Matters. (a) Xxxxxx Xxx Mae hereby declares its intent that each the Lower Tier REMIC Trust 1, Lower Tier REMIC 2, Upper Tier REMIC 1, Upper Tier REMIC 2 and REMIC 3 formed hereunder each shall constitute, and the affairs of the Lower Tier REMIC, Lower Tier REMIC 2, Upper Tier REMIC 1, Upper Tier REMIC 2 and REMIC 3 each REMIC Trust shall be conducted so as to qualify each REMIC Trust as as, a REMIC pursuant to Section 860D of Subchapter M of Chapter 1 of the Code. The Class 90-RL Class Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by the Lower Tier REMIC within the meaning of Section 860G(a)(2) of the Code, 1 and the Lower Tier Regular Interests are hereby designated as “regular interests” in such REMIC within the meaning of Section 860G(a)(1) of the Code. The RM Class 90-RB Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by the Middle Lower Tier REMIC 2, each within the meaning of Section 860G(a)(2) of the Code, and the Middle Lower Tier REMIC 1 Regular Interests Classes and the Lower Tier REMIC 2 Regular Classes are hereby designated as “regular interests” in the Middle Lower Tier REMIC 1 and Lower Tier REMIC 2, respectively, within the meaning of Section 860G(a)(1) of the Code. The AR Class 90-R Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by Upper Tier REMIC 1 and the Class 90-RA Certificates is hereby designated as the sole “residual interest” in the REMIC constituted by Upper Tier REMIC 2, each within the remaining of Section 860G (a)(2) of the Code, and the Upper Tier REMIC 1 Regular Classes and the Upper Tier REMIC 2 Regular Classes are hereby designated as “regular interests” in Upper Tier REMIC 1 and Upper Tier REMIC 2, respectively, within the meaning of Section 860G (a)(1) of the Code. The Class 90-RS Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by REMIC 3 within the meaning of Section 860G(a)(2) of the Code, and the Certificates (other than the AR, RM and RL Classes) are each Group 2 Class is hereby designated as the a “regular interestsinterest” in such REMIC 3 within the meaning of Section 860G(a)(1) of the Code. The date designated as the “startup day” of each REMIC Trust under this Trust Agreement within the meaning of Section 860G(a)(9) of the Code shall be the Settlement Date. In furtherance of the intentions expressed in the foregoing paragraph, Xxxxxx Xxx covenants and agrees that it shall: (a) prepare, sign and file, or arrange to be prepared, signed and filed, a federal income tax return using a calendar year as the taxable year for each of the Trust REMICs when and as required by the Code, on each of which return a REMIC election shall be made, (b) conduct the affairs of each of the Trust REMICs so as to maintain the status thereof as REMICs under the Code, (c) not knowingly or intentionally take any action or omit to take any action that would cause the termination of the REMIC status of any of the Trust REMICs, and (d) hold harmless and indemnify the Holder of any Residual Certificate against any liability on account of any federal income tax (including interest and penalties) imposed on the related REMIC to the extent that any such tax shall be paid or payable by it. Xxxxxx Mae, as Trustee of each of the Trust REMICs, will prepare, sign and file each annual federal income tax return for the related REMIC and such information returns as are required by Treasury regulations. In addition, Xxxxxx Xxx will act as the tax matters person for each such REMIC in a fiduciary capacity, in the case of Lower Tier REMIC 1, for the Holder of the Class 90-RL Certificate; in the case of Lower Tier REMIC 2, for the Holder of the Class 90- RB Certificate; in the case of Upper Tier REMIC 1, for the Holder of the Class 90-R Certificate; in the case of the Upper Tier REMIC 2, for the Holder of the Class 90-RA Certificate; and in the case of REMIC 3, for the Holder of the Class 90-RS Certificate. In addition, Xxxxxx Xxx will provide to each Holder of a Certificate any information or reports regarding the Certificates that may be required under the Code. In addition, Xxxxxx Mae will provide to the Internal Revenue Service and to persons described in section 860E(e)(3) and (6) of the Code the information described in section 1.860D-1(b)(5)(ii) of the Regulations, or any successor regulation thereto. Such information will be provided in the manner described in section 1.860E-2(a)(5) of the Regulations, or any successor regulation thereto.

Appears in 1 contract

Samples: Trust Agreement

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REMIC Declarations; Other REMIC Matters. (a) Xxxxxx Xxx hereby declares its intent that each REMIC Trust formed hereunder shall constitute, and the affairs of each REMIC Trust be conducted so as to qualify each REMIC Trust as a REMIC pursuant to Section 860D of Subchapter M of Chapter 1 of the Code. The RL Class Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by the Lower Tier REMIC within the meaning of Section 860G(a)(2) of the Code, and the Lower Tier Regular Interests are hereby designated as “regular interests” in such the Lower Tier REMIC within the meaning of Section 860G(a)(1) of the Code. The RM Class Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by the Middle Tier REMIC within the meaning of Section 860G(a)(2) of the Code, and the Middle Tier Regular Interests are hereby designated as “regular interests” in the Middle Tier REMIC within the meaning of Section 860G(a)(1) of the Code. The AR A-R Class Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by the Upper Tier REMIC within the meaning of Section 860G(a)(2) of the Code, and the Certificates (other than the ARA-R, RM and RL Classes) are hereby designated as the “regular interests” in such the Upper Tier REMIC within the meaning of Section 860G(a)(1) of the Code. The date designated as the “startup day” of each REMIC Trust under this Trust Agreement within the meaning of Section 860G(a)(9) of the Code shall be the Settlement Date.

Appears in 1 contract

Samples: Fannie Mae

REMIC Declarations; Other REMIC Matters. (a) Xxxxxx Xxx hereby declares its intent that each REMIC Trust the Trusts formed hereunder shall constitute, and the affairs of each REMIC Trust such Trusts shall be conducted so as to qualify each REMIC Trust as a REMIC as, REMICs pursuant to Section 860D of Subchapter M of Chapter 1 of the Code. The Class 30-RL Class Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by the Lower Tier REMIC within the meaning of Section 860G(a)(2) of the Code, and the Lower Tier Regular Interests Classes are hereby designated as “regular interests” in such REMIC within the meaning of Section 860G(a)(1) of the Code. The RM Trust Fund shall consist of two separate REMICs. The Class 30-R Certificate is hereby designated as the sole “residual interest” in the Trust REMIC constituted by the Middle Tier REMIC I within the meaning of Section 860G(a)(2) of the Code, and the Middle Tier Regular Interests are hereby designated remaining Group 1, Group 2 and Group 3 Classes (as “regular interests” specified in the Middle Tier REMIC within the meaning of Section 860G(a)(1) of the Code. The AR Class Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by the Upper Tier REMIC within the meaning of Section 860G(a)(2) of the Code, and the Certificates (other than the AR, RM and RL ClassesProspectus Supplement) are hereby designated as the “regular interests” in such REMIC within the meaning of Section 860G(a)(1) of the Code. Lower Tier Classes 1 through 22 shall be assets of Trust REMIC I. The Class 30-RA Certificate is hereby designated as the "residual interest" in Trust REMIC II within the meaning of Section 860G(a)(2) of the Code, and the Group 4, Group 5, Group 6 and Group 7 Classes (as specified in the Prospectus Supplement) are hereby designated as the "regular interests" in such REMIC within the meaning of Section 860(G)(a)(1) of the Code. Lower Tier Classes 23 through 26 shall be assets of Trust REMIC II. The date designated as the “startup day” of each REMIC Trust under this Trust Agreement within the meaning of Section 860G(a)(9) of the Code shall be the Settlement Date. In furtherance of the intentions expressed in the foregoing paragraph, Xxxxxx Xxx covenants and agrees that it shall: (a) with respect to each REMIC intended to be formed hereby, prepare, sign and file, or arrange to be prepared, signed and filed, a federal income tax return using a calendar year as the taxable year when and as required by the Code, on which a REMIC election shall be made, (b) conduct the affairs of each REMIC intended to be formed hereby, and the affairs of each Trust, so as to maintain the REMIC status thereof under the Code, (c) not knowingly or intentionally take any action or omit to take any action that would cause the termination of the REMIC status of any REMIC formed hereby, and (d) hold harmless and indemnify the Holder of any Residual Certificate against any liability on account of any federal income tax (including interest and penalties) imposed on the related REMIC formed hereby (or the related Trust) to the extent that any such tax shall be paid or payable by it. Xxxxxx Mae, as Trustee of each Trust, will prepare, sign and file each annual federal income tax return for the REMICs intended to be formed hereby and such information returns as are required by Treasury regulations. In addition, Xxxxxx Xxx will act as the tax matters person for each REMIC formed hereby in a fiduciary capacity, in the case of Trust REMIC I, for the Holder of the Class 30-R Certificate evidencing the largest percentage interest in such Class; in the case of Trust REMIC II, for the Holder of the Class 30-RA Certificate; and, in the case of the Lower Tier REMIC, for the Holder of the Class 30-RL Certificate. In addition, Xxxxxx Xxx will provide to each Holder of a Certificate any information or reports regarding the Certificates that may be required under the Code. In addition, Xxxxxx Mae will provide to the Internal Revenue Service and to persons described in section 860E(e)(3) and (6) of the Code the information described in section 1.860D-1(b)(5)(ii) of the Regulations, or any successor regulation thereto. Such information will be provided in the manner described in section 1.860E-2(a)(5) of the Regulations, or any successor regulation thereto.

Appears in 1 contract

Samples: Trust Agreement

REMIC Declarations; Other REMIC Matters. (a) Xxxxxx Xxx hereby declares its intent that each REMIC Trust formed hereunder shall constitute, and the affairs of each REMIC Trust trust be conducted so as to qualify each REMIC Trust as a REMIC pursuant to Section 860D of Subchapter M of Chapter 1 of the Code. The RL Class Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by the Lower Tier REMIC within the meaning of Section 860G(a)(2) of the Code, and the Lower Tier Regular Interests are hereby designated as “regular interests” in such REMIC within the meaning of Section 860G(a)(1) of the Code. The RM Class Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by the Middle Tier REMIC within the meaning of Section 860G(a)(2) of the Code, and the Middle Tier Regular Interests are hereby designated as “regular interests” in the Middle Tier such REMIC within the meaning of Section 860G(a)(1) of the Code. The AR A-R Class Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by the Upper Tier REMIC within the meaning of Section 860G(a)(2) of the Code, and the Certificates (other than the ARA-R, RM and RL Classes) are hereby designated as the “regular interests” in such REMIC within the meaning of Section 860G(a)(1) of the Code. The date designated as the “startup day” of each REMIC Trust under this Trust Agreement within the meaning of Section 860G(a)(9) of the Code shall be the Settlement Date.

Appears in 1 contract

Samples: Fannie Mae

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