REMIC Designations and REMIC Distributions. (a) The Trustee shall elect that each of REMIC I and REMIC II 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.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (BellaVista Funding CORP), Pooling and Servicing Agreement (BellaVista Mortgage Trust 2004-2)
REMIC Designations and REMIC Distributions. (a) The Trustee shall elect that each of REMIC I I, REMIC II-A, REMIC II-B and REMIC II 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.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (BellaVista Mortgage Trust 2004-1)
REMIC Designations and REMIC Distributions. (a) The Trustee shall elect that each of REMIC I I, REMIC II and REMIC II 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.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (BellaVista Mortgage Trust 2005-1)
