REMIC Opinion Clause Samples

A REMIC Opinion clause requires that a legal opinion be provided confirming that a transaction or arrangement will not jeopardize the status of a Real Estate Mortgage Investment Conduit (REMIC) for tax purposes. Typically, this involves a qualified tax counsel reviewing the transaction and issuing a written opinion that the REMIC will continue to meet all necessary requirements under the Internal Revenue Code. This clause is essential for protecting the tax-advantaged status of the REMIC, thereby ensuring that investors and parties involved are not exposed to unexpected tax liabilities or regulatory issues.
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REMIC Opinion. An Opinion of Counsel stating that, under the REMIC Provisions, any contemplated action will not cause REMIC I or REMIC II to fail to qualify as a REMIC or result in the imposition of a tax upon the Trust Fund (including but not limited to the tax on prohibited transactions as defined in Section 860F(a)(2) of the Code and the tax on contributions to a REMIC set forth in Section 860G(d) of the Code).
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REMIC Opinion. An Opinion of Independent Counsel, to the effect that the proposed action described therein would not, under the REMIC Provisions, (i) cause any 2006-AR1 REMIC to fail to qualify as a REMIC while any regular interest in such 2006-AR1 REMIC is outstanding, (ii) result in a tax on prohibited transactions with respect to any 2006-AR1 REMIC or (iii) constitute a taxable contribution to any 2006-AR1 REMIC after the Startup Day.
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REMIC Opinion. An Opinion of Independent Counsel to the effect that the proposed action described therein would not, under the REMIC Provisions, (i) cause any REMIC to fail to qualify as a REMIC while any regular interest in such REMIC is outstanding, (ii) result in a tax on prohibited transactions with respect to any REMIC or (iii) constitute a taxable contribution to any REMIC after the Startup Day.
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REMIC Opinion. The Trustee and the Securities Administrator may, but shall not be obligated to, enter into any such amendment which affects the Trustee's or the Securities Administrator's own respective rights, duties or immunities under this Agreement.
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REMIC Opinion. An Opinion of Independent Counsel, to the effect that the ------------- proposed action described herein would not, under the REMIC Provisions, (i) cause either the Trust Fund to fail to qualify as a REMIC while any regular interest in the REMIC is outstanding, (ii) result in a tax on prohibited transactions or (iii) constitute a taxable contribution after the Startup Day.
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REMIC Opinion. ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ A portion of the Mortgaged Property will be subdivided and transferred to a new owner. The release conditions will include, among others, (i) receipt of all subdivision approvals, (ii) the -------------------------------------------------------------------------------- CONTROL NUMBER PROPERTY ISSUE -------------------------------------------------------------------------------- remainder of the property securing the Mortgage Loan being left in compliance with all applicable zoning laws, (iii) an endorsement to title policy, (iv) the creation of any necessary utility easements, (v) REMIC and legal Opinions, (vi) an LTV of not greater than 80% after the release and (vi) the delivery of all consents required under the ground lease. -------------------------------------------------------------------------------- EXCEPTION TO REPRESENTATION (XXXI): QUALIFICATIONS, LICENSING, ZONING. -------------------------------------------------------------------------------- Hillcrest Estate Apartments Certificates of occupancy have not Summit Ridge Apartments been obtained for any of the Park Place properties constituting the Mortgaged Property. The properties were developed before certificates of occupancy or use were required. Any losses, costs or expenses incurred by the mortgagee as a result of the lack of certificates of occupancy are recourse to the Mortgagor. --------- -------------------------------- ------------------------------------- The Lodge Apartments The certificates of occupancy have not been obtained. Any losses, costs or expenses incurred by the mortgagee as a result of the lack of certificates of occupancy are recourse to the Mortgagor or the guarantor. --------- -------------------------------- ------------------------------------- West Hartford Portfolio The certificates of occupancy have not been obtained for most of the tenants at the Mortgaged Property. --------- -------------------------------- ------------------------------------- ▇▇▇ ▇▇▇▇▇ Portfolio The certificates of occupancy have not been obtained. --------- -------------------------------- ------------------------------------- Loch Raven Apartments The certificates of occupancy have not been obtained. The Mortgaged Property was developed before certificates of occupancy were required. The City of Baltimore has confirmed that the absence of a certificate of occupancy on file is not a violation. -------------------------------------------------------------------------------...
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REMIC Opinion. An Opinion of Independent Counsel to the effect that the proposed action described therein would not, under the REMIC Provisions, (i) cause REMIC I, REMIC II or REMIC III to fail to qualify as a REMIC while any regular interest in such REMIC is outstanding, (ii) result in a tax on prohibited transactions with respect to REMIC I, REMIC II or REMIC III or (iii) constitute a taxable contribution to REMIC I, REMIC II or REMIC III after the Startup Day.
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REMIC Opinion. All of the factual assumptions contained in that certain REMIC opinion letter dated October _____, 2007 issued by Lender's counsel in connection with the closing of the Requested Actions have been and continue to be true and correct in all material respects.
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REMIC Opinion. An Opinion of Counsel to the effect that a contemplated action will neither adversely affect the status as a REMIC of any REMIC created hereunder nor subject any such REMIC to any tax under the REMIC Provisions.
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Related to REMIC Opinion

  • REIT Opinion Company shall have received a written opinion of Baker, Donelson, Bearman, ▇▇▇▇▇▇▇▇ & ▇▇▇▇▇▇▇▇▇, PC, dated as of the Closing Date and in form and substance reasonably satisfactory to the Company, to the effect that, commencing with Parent’s taxable year that ended on December 31, 2010, Parent has been organized and has operated in conformity with the requirements for qualification and taxation as a REIT under the Code, and its proposed method of operation will enable Parent to continue to meet the requirements for qualification and taxation as a REIT under the Code, which opinion will be subject to customary exceptions, assumptions and qualifications and based on customary representations contained in an officer’s certificate executed by Parent and provided pursuant to Section 6.2(b).

  • Section 368 Opinion The Company shall have received a written opinion of G▇▇▇▇▇▇▇▇ Traurig, LLP (or other counsel to the Company reasonably satisfactory to Parent), dated as of the Closing Date and in form and substance reasonably satisfactory to the Company, to the effect that, on the basis of the facts, representations and assumptions set forth or referred to in such opinion, the Merger will qualify as a “reorganization” within the meaning of Section 368(a) of the Code. In rendering the opinion described in this Section 7.3(e), counsel shall be entitled to require and rely upon customary representations contained in certificates of officers of the Company and Parent, reasonably satisfactory in form and substance to the Company and Parent.

  • OPINION OF FUND'S INDEPENDENT ACCOUNTANT The Custodian shall take all reasonable action, as a Fund with respect to a Portfolio may from time to time request, to obtain from year to year favorable opinions from the Fund’s independent accountants with respect to its activities hereunder in connection with the preparation of the Fund’s Form N-1A or Form N-2, as applicable, and Form N-SAR or other annual reports to the SEC and with respect to any other requirements thereof.

  • Delivery of Officer’s Certificate and Opinion of Counsel to the Trustee Before the effective time of any Business Combination Event, the Company will deliver to the Trustee an Officer’s Certificate and Opinion of Counsel, each stating that (i) such Business Combination Event (and, if applicable, the related supplemental indenture) comply with Section 6.01(A); and (ii) all conditions precedent to such Business Combination Event provided in this Indenture have been satisfied.

  • Tax Opinion The opinion of ▇▇▇▇▇▇ & ▇▇▇▇▇▇ L.L.P. that is filed as Exhibit 8.1 to the Registration Statement is confirmed and the Underwriters may rely upon such opinion as if it were addressed to them.