THE TRUSTS; APPLICABLE DOCUMENTATION; REMIC DECLARATIONS Sample Clauses
This clause establishes the legal framework governing the trusts involved in the agreement, specifying the documentation and requirements necessary for their operation, including any Real Estate Mortgage Investment Conduit (REMIC) declarations. It typically outlines which documents are considered authoritative for the trust, such as trust agreements, pooling and servicing agreements, and any filings or elections required to maintain REMIC status under tax law. By clearly defining the applicable documents and compliance obligations, the clause ensures that the trusts are properly constituted and maintained, and that they meet all regulatory and tax requirements, thereby reducing legal and operational risks.
THE TRUSTS; APPLICABLE DOCUMENTATION; REMIC DECLARATIONS. Section 2.01. Declaration of Trust; Transfer and Conveyance of Mortgage-Backed Securities. With respect to each Series, by delivering any Certificate pursuant to the Trust Documents, the Issuer unconditionally, absolutely and irrevocably sets aside, transfers, assigns, sets over and otherwise conveys to the Trustee, on behalf of related Holders, all of the Issuer’s right, title and interest in and to the Mortgage-Backed Securities, including all payments of principal and interest thereon received after the month in which the Issue Date occurs. Once Mortgage-Backed Securities have been identified as being part of a particular Trust for which at least one Certificate has been issued, they will remain in that Trust unless removed in a manner consistent with the Trust Documents.
THE TRUSTS; APPLICABLE DOCUMENTATION; REMIC DECLARATIONS. Section 2.01. Declaration of Trust; Transfer and Conveyance of Mortgage-Backed Securities. 17 Section 2.02. Acceptance of Responsibilities. 17 Section 2.03. Security Interest. 18 Section 2.04. Equitable Interest. 18 Section 2.05. Prohibition Against Encumbrance. 19 Section 2.06. Purchase and Substitution. 19
THE TRUSTS; APPLICABLE DOCUMENTATION; REMIC DECLARATIONS. Declaration of Trust; Transfer and Conveyance of Mortgage-Backed Securities. 16 Section 2.02. Acceptance of Responsibilities. 16 Section 2.03. Security Interest. 16 Section 2.04. Equitable Interest. 17 Section 2.05. Prohibition Against Encumbrance. 17 Section 2.06. Purchase and Substitution. 18 Section 2.07. Issue Supplement. 18 Section 2.08. Issue Supplement and Trust Agreement. 19 Section 2.09. Access to Information. 19 Section 2.10. Use of Information. 19 Section 2.11. Reserved. 19 Section 2.12. Trust Administration Fee. 20 Section 2.13. Payment for Services to Trusts. 20 Section 2.14 REMIC Declarations; Other REMIC Matters. 20