WHMT definition
WHMT. A “Widely Held Mortgage Trust” as that term is defined in Treasury Regulations section 1.671-5(b)(23) or successor provisions.
WHMT means a “Widely Held Mortgage Trust” as that term is defined in Treasury Regulations section 1.671-5(b)(23) or successor provisions. Certain Calculations. Unless otherwise specified herein, for purposes of determining amounts with respect to the Certificates and the rights and obligations of the parties hereto, all calculations of interest (other than as provided in the Mortgage Loan documents) provided for herein shall be made on the basis of a 360 day year consisting of twelve 30 day months.
WHMT means a "Widely Held Mortgage Trust" as that term is defined in Treasury Regulations section 1.671-5(b)(23) or successor provisions. "WHFIT" shall mean a "Widely Held Fixed Investment Trust" as that term is defined in Treasury Regulations section 1.671-5(b)(22) or successor provisions. "WHFIT Regulations" shall mean Treasury Regulations section 1.671-5, as amended. The Paying Agent, in its discretion, will report required WHFIT information using either the cash or accrual method, except to the extent the WHFIT Regulations specifically require a different method. The Paying Agent will be under no obligation to determine whether any Certificateholder uses the cash or accrual method. The Paying Agent will make available WHFIT information to Certificateholders annually. In addition, the Paying Agent will not be responsible or liable for providing subsequently amended, revised or updated information to any Certificateholder, unless requested by the certificate holder. The Paying Agent shall not be liable for failure to meet the reporting requirements of the WHFIT Regulations nor for any penalties thereunder if such failure is due to: (i) the lack of reasonably necessary information being provided to the Paying Agent (and not otherwise in its possession), or (ii) incomplete, inaccurate or untimely information being provided to the Paying Agent. Each owner of a class of securities representing, in whole or in part, beneficial ownership of an interest in a WHFIT, by acceptance of its interest in such class of securities, will be deemed to have agreed to provide the Paying Agent with information regarding any sale of such securities, including the price, amount of proceeds and date of sale. To the extent required by the WHFIT Regulations, the Paying Agent will use reasonable efforts to publish on an appropriate website the CUSIPs for the certificates that represent ownership of a WHFIT. The CUSIPs so published will represent the Rule 144A CUSIPs. The Paying Agent will not publish any associated Reg S CUSIPs. The Paying Agent will make reasonable good faith efforts to keep the website accurate and updated to the extent CUSIPs have been received. Absent the receipt of a CUSIP, the Paying Agent will use a reasonable identifier number in lieu of a CUSIP. The Paying Agent will not be liable for investor reporting delays that result from the receipt of inaccurate or untimely CUSIP information. The Paying Agent shall be entitled to additional reasonable compensation for c...
Examples of WHMT in a sentence
If the Certificate Administrator determines that any Class S Certificate is held through a nominee, then the Grantor Trust will be treated as a WHFIT that is a WHMT.
If the Certificate Administrator receives notice that the Class V Certificates are held through a “middleman” as defined by the WHFIT Regulations, then the Grantor Trust is a WHFIT that is a WHMT.
If the Certificate Administrator determines that any Class S or Class R Certificate is held through a nominee, then the Grantor Trust will be treated as a WHFIT that is a WHMT.
If the Certificate Administrator receives notice that the Class S Certificates are held through a “middleman” as defined by the WHFIT Regulations, then the Grantor Trust is a WHFIT that is a WHMT.
It is the intended that the Trust Fund created hereunder be considered a “grantor trust” under the Code and a WHFIT that is a WHMT.
More Definitions of WHMT
WHMT means a “Widely Held Mortgage Trust” as that term is defined in Treasury Regulations section 1.671-5(b)(23) or successor provisions. Wintrust Agreement: The Assignment, Assumption and Recognition Agreement, dated as of December 23, 2014, among Wintrust Mortgage, a division of Barrington Bank & Trust Company, N.A., Five Oaks and the Trustee.
WHMT. A “Widely Held Mortgage Trust” as that term is defined in Treasury Regulations section 1.671-5(b)(23) or successor provisions. X Component: The portion of the Class X Certificates representing the right to distributions to the Class X Certificates as described herein. X Component Account: An account established as part of the Trust Fund pursuant to Section 5.13 of this Agreement but which is not an asset of any of the REMICs for the benefit of the X Component of the Class X Certificates and the Class C Certificates.