Administration of the Trust Fund. Section 4.01
Administration of the Trust Fund. The administration of the Fund shall be the responsibility of the Trustees. The Board of Trustees are responsible for the operational and financial sustainability of the Trust, and they shall administer the Fund in accordance with the express powers given to them pursuant to this Trust Agreement and the Plans. The terms of this Trust Agreement and the Plans shall be construed and administered so as to comply with the requirements to be an employee life and health trust under subsection 144.1(2) of the Income Tax Act (Canada). Any term of this Trust Agreement or the Plans that would otherwise be inconsistent with the requirements of such provisions shall be modified to the extent necessary to comply with such requirements.
Administration of the Trust Fund. 8.1 Ownership and Investment of the Trust Fund. The Trustee is the legal owner of all Trust Fund assets and, subject to this Article, shall invest and reinvest the Trust Fund. Any amounts reasonably necessary to meet contemplated payments or to be transferred from the Trust Fund may be deposited temporarily in the commercial department of any bank or trust company. The Trustee will not be liable for any interest on those deposits except for interest actually paid by the bank or trust company or, if the deposit is with the Trustee's own commercial department, interest at the legally permitted rate agreed to by the Trustee and the Company. Alternatively, the Trustee may make temporary deposits in governmental obligations, certificates of deposit, commercial paper, commercial paper master notes, cash management funds, or a common trust fund or a cash management fund maintained by the Trustee for temporary cash investments.
Administration of the Trust Fund. 64 Section 4.01. Collection Account...............................................................64 Section 4.02. Application of Funds in the Collection Account...................................65
Administration of the Trust Fund. 57 Section 4.01. Custodial Accounts; Distribution Account................................ 57 Section 4.02. Reports to Trustee and Certificateholders............................... 58 ARTICLE V.
Administration of the Trust Fund. (a) It is intended that the Trust Fund formed hereunder shall constitute, and that the affairs of the Trust Fund shall be conducted so as to qualify as, a REMIC as defined in and in accordance with the REMIC Provisions. In furtherance of such intention, the Trustee covenants and agrees that it shall act as the agent of the Trust Fund (and the Trustee is hereby appointed to act as such agent), and that in such capacity it shall: (i) prepare and file, or cause to be prepared and filed, in a timely manner, and sign, any Tax Returns required by the REMIC Provisions and other applicable income tax laws, using a calendar year as the taxable year for the REMIC; (ii) make or cause to be made an election, on behalf of the REMIC, to be treated as a REMIC on the Tax Return of the REMIC for its first taxable year, in accordance with the REMIC Provisions; (iii) prepare, file, deliver and sign any and all Tax Returns, information statements or other forms required to be delivered to any governmental taxing authority (including, without limitation, within 30 days after the Closing Date, Internal Revenue Service Form 8811, "Information Return for Real Estate Mortgage Investment Conduits (REMICs) and Issuers of Collateralized Debt Obligations"), or to any Certificateholder, pursuant to any applicable federal, state or local tax laws with respect to the Trust Fund or the related Certificates and the transactions contemplated by this Agreement; (iv) provide to each of the related Certificateholders such data necessary for their original issue discount computations and market discount computations with respect to such Certificates for federal income tax purposes and such information as such Certificateholders may reasonably request from time to time; (v) conduct the affairs of the Trust Fund so as to maintain the status thereof as a REMIC under the REMIC Provisions; (vi) not knowingly or intentionally take any action or omit to take any action that would cause the termination of the REMIC status of the Trust Fund; (vii) provide information necessary for the computation of tax imposed on the transfer of a Residual Certificate to a Holder who is not a Permitted Transferee or an agent (including a broker, nominee or other middleman) of a Person who is not a Permitted Transferee or a pass-through entity in which a Person who is not a Permitted Transferee is the record holder of an interest, provided that the reasonable cost of computing and furnishing such information shall be ch...
Administration of the Trust Fund. PAYMENTS AND REPORTS TO CERTIFICATEHOLDERS 28 Section 3.01 Defaults by the Underlying Trust. ...................................28 Section 3.02 Distribution Account, Securities Account and Yield Supplement Reserve Fund...............................................28 Section 3.03 Permitted Withdrawals From the Distribution Account and the Yield Supplement Reserve Fund. ..................................30 Section 3.04 Distributions.........................................................30 Section 3.05 The Corridor Contract.................................................32 Section 3.06 Allocation of Realized Losses.........................................32 Section 3.07 Determination of Pass-Through Rates for LIBOR Certificates..........................................................32 Section 3.08 Monthly Statements to Certificateholders. ...........................34 Section 3.09 Reports of the Trustee; Distribution Account. .......................35
Administration of the Trust Fund. Section 4.01. (Omitted). Section 4.02. (Omitted).
Administration of the Trust Fund. PAYMENTS AND REPORTS TO CERTIFICATEHOLDERS
Administration of the Trust Fund. PAYMENTS AND REPORTS TO CERTIFICATEHOLDERS Section 3.01. Defaults by the Underlying Trust......................................................21 Section 3.02. Distribution Account..................................................................21 Section 3.03. Permitted Withdrawals From the Distribution Account...................................22 Section 3.04. Distributions.........................................................................22 Section 3.05. Allocation of Realized Losses.........................................................24 Section 3.06. Statements to Certificateholders......................................................24 Section 3.07. Reports of the Trustee; Distribution Account..........................................25 Section 3.08. Access to Certain Documentation and Information.......................................25 ARTICLE IV THE CERTIFICATES Section 4.01. The Certificates......................................................................27 Section 4.02. Certificate Register; Registration of Transfer and Exchange of Certificates.......................................................................27 Section 4.03. Mutilated, Destroyed, Lost or Stolen Certificates.....................................31 Section 4.04. Persons Deemed Owners.................................................................31 Section 4.05. Access to List of Certificateholders' Names and Addresses.............................32 Section 4.06. Maintenance of Office or Agency. .....................................................32
