Common use of Prohibited Transactions and Activities Clause in Contracts

Prohibited Transactions and Activities. Neither the Trustee, the Paying Agent, the Master Servicer nor the Special Servicer shall permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for the Trust, except as provided in Article II hereof, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (A) affect adversely the status of any REMIC Pool as a REMIC or of the REMIC Certificates, other than the Residual Certificates, as the regular interests therein, (B) affect the distribution of interest or principal on the Certificates, (C) result in the encumbrance of the assets transferred or assigned to any REMIC Pool (except pursuant to the provisions of this Agreement) or (D) cause any REMIC Pool to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 39 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2006-Hq8), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust Series 2004-Top15), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005 HQ5)

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Prohibited Transactions and Activities. Neither None of the Trustee, the Paying AgentCertificate Administrator, the Custodian, the Master Servicer nor or the Special Servicer shall permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a repurchase or substitution pursuant to contemplated by Article II hereof), nor acquire any assets for the Trust, except as provided in contemplated by Article II hereof, nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (A) affect adversely the status of any REMIC Pool as a REMIC or of the REMIC Certificates, other than the Residual Certificates, as the regular interests therein, (B) affect the distribution of interest or principal on the Certificates, (C) result in the encumbrance of the assets transferred or assigned to any REMIC Pool (except pursuant to the provisions of this Agreement) or (D) cause any REMIC Pool to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 29 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C14), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C14), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C16)

Prohibited Transactions and Activities. Neither The Special Servicer, on behalf of the TrusteeTrust Fund and the Companion Loan Holders, the Paying Agent, the Master Servicer nor the Special Servicer shall not permit the sale, sale or disposition or substitution of any of the Mortgage Loans Whole Loan at a time when the Whole Loan is not the subject of a breach of a representation or is not in default or default with respect thereto is not reasonably foreseeable (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the Lower-Tier REMIC or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the Lower-Tier REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for either the Trust, except as provided in Article II hereofLower-Tier REMIC or the Upper-Tier REMIC (other than Foreclosed Property), nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor receive any amount representing a fee or other compensation for services not contemplated herein, nor accept any contributions to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (other than a cash contribution during the 3three-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting it to take such action) to the effect that such disposition, acquisition, substitution, substitution or acceptance will not (Aa) affect adversely the status of any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC as a REMIC REMIC, or of the REMIC Certificates, other than the Residual Certificates, Certificates as the representing regular interests therein, (Bb) affect the distribution of interest or principal on the Regular Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (except pursuant to the provisions of this Agreement) ), or (Dd) cause any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 12 contracts

Samples: Trust and Servicing Agreement (Bank 2020-Bnk25), Trust and Servicing Agreement (Bank 2019-Bnk23), Trust and Servicing Agreement (BBCMS Mortgage Trust 2019-C5)

Prohibited Transactions and Activities. Neither The Special Servicer, on behalf of the TrusteeTrust, the Paying Agent, the Master Servicer nor the Special Servicer shall not permit the sale, sale or disposition or substitution of any of the Mortgage Loans Loan unless the Mortgage Loan is the subject of a Material Breach or Material Document Defect or is in default or default with respect thereto is reasonably foreseeable (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the Lower-Tier REMIC or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the Lower-Tier REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for either the Trust, except as provided in Article II hereofLower-Tier REMIC or the Upper-Tier REMIC (other than Foreclosed Property), nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor receive any amount representing a fee or other compensation for services, nor accept any contributions to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (other than a cash 244 contribution during the three (3-) month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting it to take such action) to the effect that such disposition, acquisition, substitution, substitution or acceptance will shall not (Aa) affect adversely the status of any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC as a REMIC REMIC, or of the REMIC Certificates, other than the Residual Certificates, Trust Interests as the representing regular interests therein, (Bb) affect the distribution of interest or principal on the CertificatesTrust Interests, (Cc) result in the encumbrance of the assets transferred or assigned to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (except pursuant to the provisions of this Agreement) ), or (Dd) cause any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 10 contracts

Samples: Trust and Servicing Agreement (BBCMS Mortgage Trust 2020-C7), Trust and Servicing Agreement (Citigroup Commercial Mortgage Trust 2019-C7), Trust and Servicing Agreement (Wells Fargo Commercial Mortgage Securities Inc)

Prohibited Transactions and Activities. Neither the TrusteeSeller, the Paying AgentDepositor, the Master Servicer nor the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement or (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement, nor acquire any assets for any REMIC constituting part of the Trust, except as provided in Article II hereofTrust Fund, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during constituting part of the 3-month period beginning on Trust Fund after the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 9 contracts

Samples: Pooling and Servicing Agreement (Asset Backed Funding Corp C-Bass Mortgage Loan Asset-Backed Certificates, Series 2004-Cb5), Pooling and Servicing Agreement (ABFC C-Bass Mortgage Loan Asset-Backed Certificates, Series 2005-Cb5), Pooling and Servicing Agreement (ABFC C-Bass Mortgage Loan Asset-Backed Certificates, Series 2005-Cb2)

Prohibited Transactions and Activities. Neither The Special Servicer, on behalf of the TrusteeTrust Fund, the Paying Agent, the Master Servicer nor the Special Servicer shall not permit the sale, sale or disposition or substitution of any of the Mortgage Loans Trust Loan at a time when the Trust Loan is not the subject of a breach of a representation or is not in default or default with respect thereto is not reasonably foreseeable (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the Lower-Tier REMIC or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the Lower-Tier REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for either the Trust, except as provided in Article II hereofLower-Tier REMIC or the Upper-Tier REMIC (other than Foreclosed Property), nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor receive any amount representing a fee or other compensation for services, nor accept any contributions to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (other than a cash contribution during the 3three-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting it to take such action) to the effect that such disposition, acquisition, substitution, substitution or acceptance will not (Aa) cause either the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC, or adversely affect adversely the status of any REMIC Pool the Regular Certificates as a REMIC or of the REMIC Certificates, other than the Residual Certificates, as the representing regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (except pursuant to the provisions of this Agreement) ), or (Dd) cause any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 8 contracts

Samples: Trust and Servicing Agreement (3650R 2021-Pf1 Commercial Mortgage Trust), Trust and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2021-C60), Trust and Servicing Agreement (CSAIL 2021-C20 Commercial Mortgage Trust)

Prohibited Transactions and Activities. Neither None of the Trustee, the Paying AgentCertificate Administrator, the Master Servicer nor or the Special Servicer shall permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a repurchase or substitution pursuant to contemplated by Article II hereof), nor acquire any assets for the Trust, except as provided in contemplated by Article II hereof, nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (A) affect adversely the status of any REMIC Pool as a REMIC or of the REMIC Certificates, other than the Residual Certificates, as the regular interests therein, (B) affect the distribution of interest or principal on the Certificates, (C) result in the encumbrance of the assets transferred or assigned to any REMIC Pool (except pursuant to the provisions of this Agreement) or (D) cause any REMIC Pool to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2012-C6), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2012-C6), Distribution Instructions (Morgan Stanley Capital I Trust 2012-C4)

Prohibited Transactions and Activities. Neither The Special Servicer, on behalf of the TrusteeTrust, the Paying Agent, the Master Servicer nor the Special Servicer shall not permit the sale, sale or disposition or substitution of any of the Mortgage Loans Loan unless the Mortgage Loan is the subject of a Material Breach or Material Document Defect or is in default or default with respect thereto is reasonably foreseeable (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the Lower-Tier REMIC or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the Lower-Tier REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for either the Trust, except as provided in Article II hereofLower-Tier REMIC or the Upper-Tier REMIC (other than Foreclosed Property), nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor receive any amount representing a fee or other compensation for services, nor accept any contributions to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (other than a cash contribution during the three (3-) month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting it to take such action) to the effect that such disposition, acquisition, substitution, substitution or acceptance will shall not (Aa) affect adversely the status of any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC as a REMIC REMIC, or of the REMIC Certificates, other than the Residual Certificates, Trust Interests as the representing regular interests therein, (Bb) affect the distribution of interest or principal on the CertificatesTrust Interests, (Cc) result in the encumbrance of the assets transferred or assigned to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (except pursuant to the provisions of this Agreement) ), or (Dd) cause any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 7 contracts

Samples: Trust and Servicing Agreement (BBCMS Mortgage Trust 2021-C10), Trust and Servicing Agreement (CSAIL 2021-C20 Commercial Mortgage Trust), Trust and Servicing Agreement (BBCMS Mortgage Trust 2021-C9)

Prohibited Transactions and Activities. Neither the Trustee, the Paying Agent, the Master Servicer nor the Special Servicer shall permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for the Trust, except as provided in Article II hereof, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (A) affect adversely the status of any REMIC Pool as a REMIC or of the REMIC Certificates, other than the Residual Certificates, as the regular interests therein, (B) affect the distribution of interest or principal on the Certificates, (C) result in the encumbrance of the assets transferred or assigned to any REMIC Pool (except pursuant to the provisions of this Agreement) or (D) cause any REMIC Pool to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2007-Hq13), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2007-Hq12), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2006 - HQ9)

Prohibited Transactions and Activities. Neither The Special Servicer, on behalf of the TrusteeTrust Fund, the Paying Agent, the Master Servicer nor the Special Servicer shall not permit the sale, sale or disposition or substitution of any of the Mortgage Loans Loan at a time when the Mortgage Loan is not the subject of a breach of a representation or is not in default or default with respect thereto is not reasonably foreseeable (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the Lower-Tier REMIC or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the Lower-Tier REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for either the Trust, except as provided in Article II hereofLower-Tier REMIC or the Upper-Tier REMIC (other than the Foreclosed Property), nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor receive any amount representing a fee or other compensation for services, nor accept any contributions to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (other than a cash contribution during the 3three-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting it to take such action) to the effect that such disposition, acquisition, substitution, substitution or acceptance will not (Aa) affect adversely the status of any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC as a REMIC REMIC, or of the REMIC Certificates, other than the Residual Certificates, Certificates as the representing regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (except pursuant to the provisions of this Agreement) ), or (Dd) cause any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 7 contracts

Samples: Trust and Servicing Agreement (Benchmark 2022-B35 Mortgage Trust), Trust and Servicing Agreement (Benchmark 2022-B34 Mortgage Trust), Trust and Servicing Agreement (Morgan Stanley Capital I Trust 2022-L8)

Prohibited Transactions and Activities. Neither The Special Servicer, on behalf of the TrusteeTrust, the Paying Agent, the Master Servicer nor the Special Servicer shall not permit the sale, sale or disposition or substitution of any of the Mortgage Loans Loan unless the Mortgage Loan is the subject of a Material Breach or Material Document Defect or is in default or default with respect thereto is reasonably foreseeable (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the Lower-Tier REMIC or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the Lower-Tier REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for either the Trust, except as provided in Article II hereofLower-Tier REMIC or the Upper-Tier REMIC (other than Foreclosed Property), nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor receive any amount representing a fee or other compensation for services, nor accept any contributions to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (other than a cash contribution during the three (3-) month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting it to take such action) to the effect that such disposition, acquisition, substitution, substitution or acceptance will shall not (Aa) affect adversely the status of any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC as a REMIC REMIC, or of the REMIC Certificates, other than the Residual Certificates, Certificates as the representing regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (except pursuant to the provisions of this Agreement) ), or (Dd) cause any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 6 contracts

Samples: Trust and Servicing Agreement (Benchmark 2022-B35 Mortgage Trust), Trust and Servicing Agreement (Bank 2022-Bnk41), Trust and Servicing Agreement (Morgan Stanley Capital I Trust 2022-L8)

Prohibited Transactions and Activities. Neither None of the TrusteeDepositor, the Paying AgentServicer or the Trustee shall sell, the Master Servicer nor the Special Servicer shall permit the saledispose of, disposition or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement, (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement or (vi) an optional purchase by the Servicer pursuant to Section 3.16 of this Agreement, nor acquire any assets for any REMIC constituting part of the Trust, except as provided in Article II hereofTrust Fund, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during constituting part of the 3-month period beginning on Trust Fund after the Startup Day)Closing Date, unless it such party and the NIMS Insurer has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Class R Certificate as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (CHEC Loan Trust 2004-2 Asset-Backed Certificates, Series 2004-2), Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2005-Ff5), Pooling and Servicing Agreement (ABFC Asset-Backed Certificates, Series 2005-He2)

Prohibited Transactions and Activities. Neither the Trustee, the Paying Agent, the Master Servicer nor the The Special Servicer shall not permit the sale, sale or disposition or substitution of any of the Mortgage Loans Loan at a time when the Mortgage Loan is not the subject of a breach of a representation or is not in default or default with respect thereto is not reasonably foreseeable (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the Lower-Tier REMIC or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the Lower-Tier REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for either the Trust, except as provided in Article II hereofLower-Tier REMIC or the Upper-Tier REMIC (other than Foreclosed Property), nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor receive any amount representing a fee or other compensation for services not contemplated herein, nor accept any contributions to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (other than a cash contribution during the 3three-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting it to take such action) to the effect that such disposition, acquisition, substitution, substitution or acceptance will not (Aa) affect adversely the status of any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC as a REMIC REMIC, or of the REMIC Certificates, other than the Residual Certificates, Certificates as the representing regular interests therein, (Bb) affect the distribution of interest or principal on the Regular Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (except pursuant to the provisions of this Agreement) ), or (Dd) cause any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 5 contracts

Samples: Trust and Servicing Agreement (Citigroup Commercial Mortgage Trust 2016-P6), Trust and Servicing Agreement (Citigroup Commercial Mortgage Trust 2016-P5), Trust and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2016-C30)

Prohibited Transactions and Activities. Neither The Special Servicer, on behalf of the TrusteeTrust Fund, the Paying Agent, the Master Servicer nor the Special Servicer shall not permit the sale, sale or disposition or substitution of any of the Mortgage Loans Trust Loan at a time when the Trust Loan is not the subject of a breach of a representation or is not in default or default with respect thereto is not reasonably foreseeable (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the Lower-Tier REMIC or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the Lower-Tier REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for either the Trust, except as provided in Article II hereofLower-Tier REMIC or the Upper-Tier REMIC (other than Foreclosed Property), nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor receive any amount representing a fee or other compensation for services, nor accept any contributions to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (other than a cash contribution during the 3three-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting it to take such action) to the effect that such disposition, acquisition, substitution, substitution or acceptance will not (Aa) affect adversely the status of any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC as a REMIC REMIC, or of the REMIC Certificates, other than the Residual Certificates, Certificates as the representing regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (except pursuant to the provisions of this Agreement) ), or (Dd) cause any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 5 contracts

Samples: Trust and Servicing Agreement (CSAIL 2016-C7 Commercial Mortgage Trust), Trust and Servicing Agreement (CSAIL 2016-C6 Commercial Mortgage Trust), Trust and Servicing Agreement (Morgan Stanley Capital I Trust 2016-Ubs9)

Prohibited Transactions and Activities. Neither the Trustee, the Paying Agent, the Master Servicer Servicers nor the Special Servicer Servicers shall permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for the Trust, except as provided in Article II hereof, nor sell or dispose of any investments in the Certificate Account Accounts or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (A) affect adversely the status of any REMIC Pool as a REMIC or of the REMIC Certificates, other than the Residual Certificates, as the regular interests therein, (B) affect the distribution of interest or principal on the Certificates, (C) result in the encumbrance of the assets transferred or assigned to any REMIC Pool (except pursuant to the provisions of this Agreement) or (D) cause any REMIC Pool to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2007-Iq15), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2006-Iq11), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005 IQ9)

Prohibited Transactions and Activities. Neither None of the TrusteeDepositor, the Paying AgentServicer or the Trustee shall sell, the Master Servicer nor the Special Servicer shall permit the saledispose of, disposition or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) created hereunder pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)or Section 3.10 of this Agreement or (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement, nor or acquire any assets for the Trustany REMIC, except as provided in Article II hereof, nor sell or dispose of any investments in the Certificate Account Distribution Account, or Distribution Account for gain, nor accept any contributions to any either REMIC Pool (other than a cash contribution during after the 3-month period beginning on the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such action) to the effect that such sale, disposition, acquisition, substitutionsubstitution or acceptance) acceptable to the Certificate Insurer that such sale, disposition, acquisition, substitution or acceptance will not (Aa) affect adversely the status of any REMIC Pool created hereunder as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Class R Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or ), (Dd) cause any REMIC Pool created hereunder to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC ProvisionsProvisions or (e) disqualify the Trust from being a qualifying special purpose entity under generally accepted accounting principles.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (IndyMac Residential Mortgage-Backed Trust, Series 2006-L3), Pooling and Servicing Agreement (IndyMac Residential Mortgage-Backed Trust, Series 2006-L4), Pooling and Servicing Agreement (IndyMac Residential Mortgage-Backed Trust, Series 2006-L2)

Prohibited Transactions and Activities. Neither None of the Trustee, the Paying AgentDepositor, the Master Servicer nor or the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement, (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement or (vi) an optional purchase by the Master Servicer pursuant to Section 3.16 of this Agreement, nor acquire any assets for any REMIC constituting part of the Trust, except as provided in Article II hereofTrust Fund, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during constituting part of the 3-month period beginning on Trust Fund after the Startup Day)Closing Date, unless it such party and the NIMS Insurer has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Class R Certificate as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Asset-Backed Funding Corp. ABFC Asset Backed Certificates, Series 2004-Opt4), Pooling and Servicing Agreement (Asset Backed Funding Corp. ABFC Asset Backed Certificates Series 2004-Opt3), Pooling and Servicing Agreement (Asset-Backed Funding Corp. ABFC Asset Backed Certificates, Series 2004-Opt5)

Prohibited Transactions and Activities. Neither None of the Trustee, the Paying AgentCertificate Administrator, the Custodian, the Master Servicer nor or the Special Servicer shall permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a repurchase or substitution pursuant to contemplated by Article II hereof), nor acquire any assets for the Trust, except as provided in contemplated by Article II hereof, nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (A) affect adversely the status of any REMIC Pool as a 374 REMIC or of the REMIC Certificates, other than the Residual Certificates, as the regular interests therein, (B) affect the distribution of interest or principal on the Certificates, (C) result in the encumbrance of the assets transferred or assigned to any REMIC Pool (except pursuant to the provisions of this Agreement) or (D) cause any REMIC Pool to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C11), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C12), Pooling and Servicing Agreement (COMM 2013-Lc13 Mortgage Trust)

Prohibited Transactions and Activities. Neither The Special Servicer, on behalf of the TrusteeTrust and the Companion Loan Holders, the Paying Agent, the Master Servicer nor the Special Servicer shall not permit the sale, sale or disposition or substitution of any of the Mortgage Loans Whole Loan at a time when the Whole Loan is not the subject of a breach of a representation or is not in default or default with respect thereto is not reasonably foreseeable (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the Lower-Tier REMIC or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the Lower-Tier REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for either the Trust, except as provided in Article II hereofLower-Tier REMIC or the Upper-Tier REMIC (other than Foreclosed Property), nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor receive any amount representing a fee or other compensation for services not contemplated herein, nor accept any contributions to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (other than a cash contribution during the 3three-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting it to take such action) to the effect that such disposition, acquisition, substitution, substitution or acceptance will not (Aa) affect adversely the status of any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC as a REMIC REMIC, or of the REMIC Certificates, other than the Residual Certificates, Certificates as the representing regular interests therein, (Bb) affect the distribution of interest or principal on the Regular Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (except pursuant to the provisions of this Agreement) ), or (Dd) cause any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 4 contracts

Samples: Trust and Servicing Agreement (BBCMS Mortgage Trust 2019-C5), Trust and Servicing Agreement (UBS Commercial Mortgage Trust 2019-C17), Trust and Servicing Agreement (BBCMS Mortgage Trust 2019-C4)

Prohibited Transactions and Activities. Neither the Trustee, the Paying AgentDepositor, the Master Servicer nor the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any each REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article VII of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement or (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement, nor acquire any assets for the Trust, except as provided in Article II hereofany REMIC, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during after the 3-month period beginning on the Startup Day)Closing Date, unless it the Trustee and any NIMS Insurer has received an Opinion of Counsel addressed to the Trustee (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Certificate as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to any tax including a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 4 contracts

Samples: Servicing Agreement (Structured Asset Investment Loan Trust 2003-Bc2), Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-Bc3), Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-Bc4)

Prohibited Transactions and Activities. Neither None of the Trustee, the Paying AgentDepositor, the Master Servicer nor or the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement, (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement or (vi) an optional purchase by the Master Servicer pursuant to Section 3.16 of this Agreement, nor acquire any assets for any REMIC constituting part of the Trust, except as provided in Article II hereofTrust Fund, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during constituting part of the 3-month period beginning on Trust Fund after the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Class R Certificate as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Asset Backed Funding Corp. ABFC Asset Backed Certificates Series 2004-Opt3), Pooling and Servicing Agreement (Abfc Asset-Backed Certificates Series 2004-Opt2), Pooling and Servicing Agreement (Abfc Asset-Backed Certificates Series 2004-Opt1)

Prohibited Transactions and Activities. Neither None of the Trustee, the Paying Agent, the Master Servicer nor or the Special Servicer shall shall, to the extent within its control, permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure foreclosure, default or imminent default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the REMIC Pool Pools in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a repurchase or substitution pursuant to by any Seller, as contemplated by Article II hereof), nor acquire any assets for the Trust, except as provided in Article II hereofherein, nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting such action) to the effect that such sale, disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any REMIC Pool as a REMIC or of the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Certificates or the Component Interests of the Class X Certificates, other than as the Residual Certificatescase may be, as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool (except pursuant to the provisions of this Agreement) or (Dd) cause any REMIC Pool to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Inc), Pooling and Servicing Agreement (Morgan Stanley Capital I Inc Com Mort Ps THR Cer Se 1998-Cf1), Pooling and Servicing Agreement (Morgan Stanley Capital I Inc)

Prohibited Transactions and Activities. Neither The Special Servicer, on behalf of the TrusteeTrust Fund, the Paying Agent, the Master Servicer nor the Special Servicer shall not permit the sale, sale or disposition or substitution of any of the Mortgage Loans Trust Loan at a time when the Trust Loan is not the subject of a Material Breach or a Material Document Defect or is not in default or default with respect thereto is not reasonably foreseeable (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the Lower-Tier REMIC or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any 212 the Lower-Tier REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for either the Trust, except as provided in Article II hereofLower-Tier REMIC or the Upper-Tier REMIC (other than REO Property), nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor receive any amount representing a fee or other compensation for services, nor accept any contributions to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (other than a cash contribution during the 3three-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting it to take such action) to the effect that such disposition, acquisition, substitution, substitution or acceptance will not (Aa) affect adversely the status of any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC as a REMIC REMIC, or of the REMIC Certificates, other than the Residual Certificates, Certificates as the representing regular interests therein, (Bb) affect the distribution of interest or principal on the Regular Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (except pursuant to the provisions of this Agreement) ), or (Dd) cause any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 3 contracts

Samples: Trust and Servicing Agreement (Morgan Stanley Capital I Trust 2016-Bnk2), Trust and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2016-C31), Trust and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2016-C30)

Prohibited Transactions and Activities. Neither the Trustee, the Paying AgentDepositor, the Master Servicer nor the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) created hereunder pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement or (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement, nor acquire any assets for the Trust, except as provided in Article II hereofany REMIC, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any either REMIC Pool (other than a cash contribution during after the 3-month period beginning on the Startup Day)Closing Date, unless it has and the NIMs Insurer have received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any REMIC Pool created hereunder as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any REMIC Pool created hereunder to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Option One Mort Ln Trust Asset Back Certs Ser 2001-3), Pooling and Servicing Agreement (Option One Mort Accep Corp Asset Backed Cert Ser 2001-1), Pooling and Servicing Agreement (Asset Backed Certificates Series 2001-2)

Prohibited Transactions and Activities. Neither the Trustee, the Paying Agent, the Master Servicer nor the Special Servicer The Trustee shall not permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the Trust REMIC or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the Trust REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, ) or substitution of the Mortgage Loans (iv) except a substitution pursuant to Article II hereof)Sections 2.06(b) or 3.03) or the substitution of a property for a Mortgaged Property, nor acquire any assets for the Trust, except as provided in Article II hereof, nor sell Trust REMIC (other than REO Property or dispose of any investments in the Certificate Account a Qualified Substitute Mortgage Loan pursuant to Sections 2.06(b) or Distribution Account for gain3.03), nor accept any contributions to any the Trust REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting the Trustee to take such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any the Trust REMIC Pool as a REMIC or of the REMIC Certificates, other than the Residual Certificates, Class A Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any the Trust REMIC Pool (except pursuant to the provisions of this Agreement) or (Dd) cause any the Trust REMIC Pool to be subject to a an unindemnified tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Eqcc Asset Backed Corp), Pooling and Servicing Agreement (Eqcc Asset Backed Corp), Pooling and Servicing Agreement (Eqcc Asset Backed Corp)

Prohibited Transactions and Activities. Neither the Trustee, the Paying Agent, the Master Servicer Servicers nor the Special Servicer Servicers shall permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for the Trust, except as provided in Article II hereof, nor sell or dispose of any investments in the Certificate Account Accounts or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (A) affect adversely the status of any REMIC Pool as a REMIC or of the REMIC Certificates, other than the Residual Certificates, as the regular interests therein, (B) affect the distribution of interest or principal on the Certificates, (C) result in the encumbrance of the assets transferred or assigned to any REMIC Pool (except pursuant to the provisions of this Agreement) or (D) cause any REMIC Pool to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 3 contracts

Samples: Mortgage Loan Purchase Agreement (Morgan Stanley Capital I Trust 2007-Iq13), Mortgage Loan Purchase Agreement (Morgan Stanley Capital I Trust 2007-Iq13), Mortgage Loan Purchase Agreement (Morgan Stanley Capital I Trust 2007-Iq13)

Prohibited Transactions and Activities. Neither the Trustee, the Paying Agent, the Master Servicer nor the Special Servicer shall permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any either REMIC Pool, (iii) the termination of any either REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for the Trust, except as provided in Article II hereof, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any either REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (A) affect adversely the status of any either REMIC Pool as a REMIC or of the REMIC Certificates, other than I Regular Interests or the Residual Certificates, REMIC Regular Certificates as the regular interests therein, (B) affect the distribution of interest or principal on the Certificates, (C) result in the encumbrance of the assets transferred or assigned to any either REMIC Pool (except pursuant to the provisions of this Agreement) or (D) cause any either REMIC Pool to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Trust 2001-PPM), Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital 1 Inc Series 2000-Prin)

Prohibited Transactions and Activities. Neither None of the Trustee, the Paying AgentDepositor, the Master Servicer nor or the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) created hereunder pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)or Section 3.10 of this Agreement or (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement, nor or acquire any assets for the Trustany REMIC, except as provided in Article II hereof, nor sell or dispose of any investments in the Certificate Account Distribution Account, or Distribution Account for gain, nor accept any contributions to any either REMIC Pool (other than a cash contribution during after the 3-month period beginning on the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such action) to the effect that such sale, disposition, acquisition, substitutionsubstitution or acceptance) acceptable to the Certificate Insurer that such sale, disposition, acquisition, substitution or acceptance will not (Aa) affect adversely the status of any REMIC Pool created hereunder as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Class R Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or ), (Dd) cause any REMIC Pool created hereunder to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC ProvisionsProvisions or (e) disqualify the Trust from being a qualifying special purpose entity under generally accepted accounting principles.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Indymac Residential Mortgage-Backed Trust, Series 2005-L3), Pooling and Servicing Agreement (Indymac Residential Mortgage-Backed Trust, Series 2005-L2)

Prohibited Transactions and Activities. Neither None of the TrusteeDepositor, the Paying AgentServicer or the Trustee shall sell, the Master Servicer nor the Special Servicer shall permit the saledispose of, disposition or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement, (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement or (vi) an optional purchase pursuant to Section 3.32, nor acquire any assets for any REMIC constituting part of the Trust, except as provided in Article II hereofTrust Fund, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during constituting part of the 3-month period beginning on Trust Fund after the Startup Day)Closing Date, unless it such party and the NIMS Insurer has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, interests therein other than the a Residual Certificates, Certificate as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (ABFC 2006-Opt2 Trust), Pooling and Servicing Agreement (ABFC 2006-Opt3 Trust)

Prohibited Transactions and Activities. Neither The Special Servicer, on behalf of the TrusteeTrust Fund, the Paying Agent, the Master Servicer nor the Special Servicer shall not permit the sale, sale or disposition or substitution of any of the Mortgage Loans Trust Loan at a time when the Trust Loan is not the subject of a breach of a representation or is not in default or default with respect thereto is not reasonably foreseeable (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the Lower-Tier REMIC or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the Lower-Tier REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for either the Trust, except as provided in Article II hereofLower-Tier REMIC or the Upper-Tier REMIC (other than Foreclosed Property), nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor receive any amount representing a fee or other compensation for services, nor accept any contributions to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (other than a cash contribution during the 3three-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting it to take such action) to the effect that such disposition, acquisition, substitution, substitution or acceptance will not (Aa) adversely affect adversely the status of any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC as a REMIC REMIC, or of the REMIC Certificates, other than the Residual Certificates, Certificates as the representing regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (except pursuant to the provisions of this Agreement) ), or (Dd) cause any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 2 contracts

Samples: Trust and Servicing Agreement (GS Mortgage Securities Trust 2016-Gs3), Trust and Servicing Agreement (Gs Mortgage Securities Corp Ii)

Prohibited Transactions and Activities. Neither The Special Servicer, on behalf of the TrusteeTrust Fund, the Paying Agent, the Master Servicer nor the Special Servicer shall not permit the sale, sale or disposition or substitution of any of the Mortgage Loans Trust Loan at a time when the Trust Loan is not the subject of a breach of a representation or is not in default or default with respect thereto is not reasonably foreseeable (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the Lower-Tier REMIC or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the Lower-Tier REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for either the Trust, except as provided in Article II hereofLower-Tier REMIC or the Upper-Tier REMIC (other than Foreclosed Property), nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor receive any amount representing a fee or other compensation for services, nor accept any contributions to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (other than a cash contribution during the 3three-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting it to take such action) to the effect that such disposition, acquisition, substitution, substitution or acceptance will not (Aa) cause either the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC, or adversely affect adversely the status of any REMIC Pool the Regular Certificates as a REMIC or of the REMIC Certificates, other than the Residual Certificates, as the representing regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (except pursuant to the 235 provisions of this Agreement) ), or (Dd) cause any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 2 contracts

Samples: Trust and Servicing Agreement (Wells Fargo Commercial Mortgage Securities Inc), Trust and Servicing Agreement (CSAIL 2020-C19 Commercial Mortgage Trust)

Prohibited Transactions and Activities. Neither None of the TrusteeDepositor, the Paying AgentServicer, the Master Servicer Servicer, the Trustee nor the Special Servicer Trust Administrator shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) created hereunder pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement or (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement, nor acquire any assets for the Trust, except as provided in Article II hereofany REMIC, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any either REMIC Pool (other than a cash contribution during after the 3-month period beginning on the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any REMIC Pool created hereunder as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any REMIC Pool created hereunder to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp Fremont Home Loan Trust 2003 A), Pooling and Servicing Agreement (Fremont Home Loan Trust 2004-B)

Prohibited Transactions and Activities. Neither the Trustee, the Paying Agent, the Master Servicer Servicers nor the Special Servicer shall permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for the Trust, except as provided in Article II hereof, nor sell or dispose of any investments in the Certificate Account Accounts or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (A) affect adversely the status of any REMIC Pool as a REMIC or of the REMIC Certificates, other than the Residual Certificates, as the regular interests therein, (B) affect the distribution of interest or principal on the Certificates, (C) result in the encumbrance of the assets transferred or assigned to any REMIC Pool (except pursuant to the provisions of this Agreement) or (D) cause any REMIC Pool to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2006-Iq12), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2006-Iq12)

Prohibited Transactions and Activities. Neither the Trustee, the Paying Agent, the applicable Master Servicer nor the Special Servicer shall permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for the Trust, except as provided in Article II hereof, nor sell or dispose of any investments in the a Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (A) affect adversely the status of any REMIC Pool as a REMIC or of the REMIC Certificates, other than the Residual Certificates, as the regular interests therein, (B) affect the distribution of interest or principal on the Certificates, (C) result in the encumbrance of the assets transferred or assigned to any REMIC Pool (except pursuant to the provisions of this Agreement) or (D) cause any REMIC Pool to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005-Hq6), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005-Hq6)

Prohibited Transactions and Activities. Neither None of the TrusteeDepositor, the Paying AgentServicer, the Master Servicer nor Servicer, the Special Servicer Securities Administrator or the Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Issuing Entity, (iii) the termination of any each REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article VII of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement or (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement, nor acquire any assets for the Trust, except as provided in Article II hereofany REMIC, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during after the 3-month period beginning on the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Certificate as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Issuing Entity (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to any tax including a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series MLCC 2007-2), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series MLCC 2007-3)

Prohibited Transactions and Activities. Neither the TrusteeDepositor, the Paying Agent, the Master Servicer nor the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) created hereunder pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement or (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement, nor acquire any assets for the Trust, except as provided in Article II hereofany REMIC, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash with respect to any contribution during pursuant to Section 860G(d)(2) of the 3-month period beginning on Code) to either REMIC after the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, substitution or contribution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any REMIC Pool created hereunder as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any REMIC Pool created hereunder to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Meritage Mortgage Loan Trust 2005-2), Pooling and Servicing Agreement (Meritage Mortgage Loan Trust 2005-1 Asset-Backed Certificates, Series 2005-1)

Prohibited Transactions and Activities. Neither the Trustee, the Paying Agent, the Master Servicer nor the Special Servicer The Trustee shall not permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the Trust REMIC or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the Trust REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, ) or substitution of the Mortgage Loans (iv) except a substitution pursuant to Article II hereof)Sections 2.06(b) or 3.03) or the substitution of a property for a Mortgaged Property, nor acquire any assets for the Trust, except as provided in Article II hereof, nor sell Trust REMIC (other than REO Property or dispose of any investments in the Certificate Account a Qualified Substitute Mortgage Loan pursuant to Sections 2.06(b) or Distribution Account for gain3.03), nor accept any contributions to any the Trust REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting the Trustee to take such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any the Trust REMIC Pool as a REMIC or of the REMIC Certificates, other than Class A Certificates and the Residual Certificates, Class X Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any the Trust REMIC Pool (except pursuant to the provisions of this Agreement) or (Dd) cause any the Trust REMIC Pool to be subject to a an unindemnified tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Eqcc Home Equity Loan Trust 1998-3), Pooling and Servicing Agreement (Eqcc Receivables Corp)

Prohibited Transactions and Activities. Neither None of the TrusteeDepositor, the Paying AgentOcwen, the Master Servicer nor Servicer, the Special Servicer Trust Administrator or the Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) created hereunder pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement or (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement, nor acquire any assets for the Trust, except as provided in Article II hereofany REMIC, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any either REMIC Pool (other than a cash contribution during after the 3-month period beginning on the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any REMIC Pool created hereunder as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any REMIC Pool created hereunder to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-1), Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-1)

Prohibited Transactions and Activities. Neither The Special Servicer, on behalf of the TrusteeTrust, the Paying Agent, the Master Servicer nor the Special Servicer shall not permit the sale, sale or disposition or substitution of any of the Mortgage Loans Loan unless the Mortgage Loan is the subject of a Material Breach or Material Document Defect or is in default or default with respect thereto is reasonably foreseeable (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the Lower-Tier REMIC or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the Lower-Tier REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for either the Trust, except as provided in Article II hereofLower-Tier REMIC or the Upper-Tier REMIC (other than Foreclosed Property), nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor 259 receive any amount representing a fee or other compensation for services, nor accept any contributions to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (other than a cash contribution during the three (3-) month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting it to take such action) to the effect that such disposition, acquisition, substitution, substitution or acceptance will shall not (Aa) affect adversely the status of any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC as a REMIC REMIC, or of the REMIC Certificates, other than the Residual Certificates, Certificates as the representing regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (except pursuant to the provisions of this Agreement) ), or (Dd) cause any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 2 contracts

Samples: Trust and Servicing Agreement (BBCMS Mortgage Trust 2022-C15), Trust and Servicing Agreement (Morgan Stanley Capital I Trust 2022-L8)

Prohibited Transactions and Activities. Neither The Special Servicer, on behalf of the TrusteeTrust Fund, the Paying Agent, the Master Servicer nor the Special Servicer shall not permit the sale, sale or disposition or substitution of any of the Mortgage Loans Trust Loan at a time when the Trust Loan is not the subject of a breach of a representation or is not in default or default with respect thereto is not reasonably foreseeable (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the Lower-Tier REMIC or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the Lower-Tier REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for either the Trust, except as provided in Article II hereofLower-Tier REMIC or the Upper-Tier REMIC (other than Foreclosed Property), nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor receive any amount representing a fee or other compensation for services, nor accept any contributions to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (other than a cash contribution during the 3three-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting it to take such action) to the effect that such disposition, acquisition, substitution, substitution or acceptance will not (Aa) affect adversely cause either the status of any Lower-Tier REMIC Pool or the Upper-Tier REMIC to fail to qualify as a REMIC or adversely affect the status of the REMIC Certificates, other than the Residual Certificates, Regular Certificates as the representing regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC 211 (except pursuant to the provisions of this Agreement) ), or (Dd) cause any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 2 contracts

Samples: Trust and Servicing Agreement (JPMDB Commercial Mortgage Securities Trust 2017-C5), Trust and Servicing Agreement (GS Mortgage Securities Trust 2017-Gs5)

Prohibited Transactions and Activities. Neither the Trustee, the Paying Agent, the Master Servicer Issuer nor the Special Servicer Indenture Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Issuer, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in an optional redemption pursuant to Section 860F(a)(4) 8.02 of the CodeServicing Agreement, or (iv) a substitution of a Qualifying Substitute Mortgage Loan pursuant to Article II hereof)Section 3.04 of the Sale and Servicing Agreement or (v) a repurchase of Mortgage Loans pursuant to Section 3.04 of the Sale and Servicing Agreement, nor acquire any assets for the Trust, except as provided in Article II hereofany REMIC, nor sell or dispose of any investments in the Certificate Account or Distribution Payment Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during after the 3-month period beginning on the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any REMIC Pool created hereunder as a REMIC or of the REMIC Certificates, interests therein other than the Residual CertificatesClass G, Class R or Class R-X Certificates as the regular interests therein, (Bb) affect the distribution payment of interest or principal on the CertificatesNotes, (Cc) result in the encumbrance of the assets transferred or assigned pledged to any REMIC Pool the Indenture Trustee (except pursuant to the provisions of this Agreement) or (Dd) cause any REMIC Pool created hereunder to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 2 contracts

Samples: Indenture (Greenpoint Mortgage Funding Trust 2005-He4), Indenture (Greenpoint Mortgage Funding Trust 2005-He1)

Prohibited Transactions and Activities. Neither the Trustee, Trustee nor the Paying Agent, the Master Servicer nor the Special Servicer shall permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for the Trust, except as provided in Article II hereof, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (A) affect adversely the status of any REMIC Pool as a REMIC or of the REMIC Certificates, other than the Residual Certificates, as the regular interests therein, (B) affect the distribution of interest or principal on the Certificates, (C) result in the encumbrance of the assets transferred or assigned to any REMIC Pool (except pursuant to the provisions of this Agreement) or (D) cause any REMIC Pool to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Inc), Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Inc)

Prohibited Transactions and Activities. Neither None of the TrusteeDepositor, the Paying AgentServicer, the Master Servicer nor Securities Administrator or the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement, (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement or (vi) an optional purchase by the NIMS Insurer and the Depositor pursuant to Section 3.16 of this Agreement, nor acquire any assets for any REMIC constituting part of the Trust, except as provided in Article II hereofTrust Fund, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during constituting part of the 3-month period beginning on Trust Fund after the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Class R Certificate as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Wells Fargo Asset Securities Corp), Pooling and Servicing Agreement (Wells Fargo Home Equity Asset-Backed Securities 2004-2 Trust)

Prohibited Transactions and Activities. Neither None of the Trustee, the Paying AgentDepositor, the Master Servicer nor or the Special Servicer Trustee shall permit (except as otherwise expressly permitted under the saleterms of this Agreement) (1) sell, disposition dispose of or substitution of substitute for any of the Mortgage Loans (except in a disposition pursuant to connection with (i) the foreclosure or default of a Mortgage Loan, including but not limited to, the acquisition or sale of a Mortgaged Property acquired by deed in lieu of foreclosure, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) 1, REMIC 2, REMIC 3 or REMIC 4 pursuant to Article IX of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereofof this Agreement or (v) a purchase of defective or defaulted Mortgage Loans pursuant to Article II or III of this Agreement), nor acquire any assets for the TrustTrust Fund (other than REO Property acquired in respect of a defaulted Mortgage Loan), except as provided in Article II hereof, nor (2) sell or dispose of any investments in the Certificate Custodial Account or Distribution the Certificate Account for gain, nor (3) accept any contributions to any REMIC Pool the REMICs after the Closing Date (other than a cash contribution during the 3-month period beginning on the Startup DayQualified Substitute Mortgage Loan delivered in accordance with Section 2.04), in each case, unless it has received an Opinion of Counsel Counsel, addressed to the Trustee (at the expense of the Person requesting party seeking to cause such action) to the effect that such sale, disposition, acquisition, substitution, acquisition or acceptance contribution, but in no event at the expense of the Trustee) that such sale, disposition, substitution, acquisition or contribution will not (Aa) affect adversely the status of any REMIC Pool 1, REMIC 2, REMIC 3 or REMIC 4 as a REMIC or of the REMIC Certificates, other than the Residual Certificates, as the regular interests therein, (B) affect the distribution of interest or principal on the Certificates, (C) result in the encumbrance of the assets transferred or assigned to any REMIC Pool (except pursuant to the provisions of this Agreement) REMICs or (Db) cause any REMIC Pool the Trust Fund to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2006-5), Pooling and Servicing Agreement (Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-2)

Prohibited Transactions and Activities. Neither the TrusteeSeller, the Paying AgentDepositor, the Master Servicer nor the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement or (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement, nor acquire any assets for any REMIC constituting part of the Trust, except as provided in Article II hereofTrust Fund, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during constituting part of the 3-month period beginning on Trust Fund after the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.. Back to Contents

Appears in 1 contract

Samples: Pooling and Servicing Agreement (C-Bass Mortgage Loan Asset-Backed Certificates, Series 2005-Cb6)

Prohibited Transactions and Activities. Neither None of the TrusteeDepositor, the Paying AgentServicer or the Trustee shall sell, the Master Servicer nor the Special Servicer shall permit the saledispose of, disposition or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article X of the Codethis Agreement, or (iv) a substitution repurchase of Mortgage Loans pursuant to Article II hereof)of this Agreement or (v) an optional purchase by the Servicer pursuant to Section 3.16 of this Agreement, nor acquire any assets for any REMIC constituting part of the Trust, except as provided in Article II hereofTrust Fund, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during constituting part of the 3-month period beginning on Trust Fund after the Startup Day)Closing Date, unless it such party and the NIMS Insurer has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale or disposition) to the effect that such disposition, acquisition, substitution, acquisition or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Class R Certificate as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (ABFC 2005-Aq1 Trust)

Prohibited Transactions and Activities. Neither the Trustee, the Paying Agent, the Master Servicer nor the Special Servicer The Trustee shall not permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any Trust REMIC Pool, or (iiiii) the termination of any Trust REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, ) or substitution of the Mortgage Loans (iv) except a substitution pursuant to Article II hereof)SECTIONS 2.06(B) or 3.03) or the substitution of a property for a Mortgaged Property, nor acquire any assets for the Trust, except as provided in Article II hereof, nor sell any Trust REMIC (other than REO Property or dispose of any investments in the Certificate Account a Qualified Substitute Mortgage Loan pursuant to SECTIONS 2.06(B) or Distribution Account for gain3.03), nor accept any contributions to any Trust REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting the Trustee to take such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any Trust REMIC Pool as a REMIC or of the REMIC CertificatesI Regular Interests, other than the Residual CertificatesREMIC II Regular Interests, the REMIC III Regular Interests or the REMIC IV Regular Interests represented by the Class A Certificates and the Class X Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any Trust REMIC Pool (except pursuant to the provisions of this Agreement) or (Dd) cause any Trust REMIC Pool to be subject to a an unindemnified tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Eqcc Home Equity Loan Trust 1999-3)

Prohibited Transactions and Activities. Neither the Trustee, the Paying AgentDepositor, the Master Servicer nor the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any each REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article VII of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement, or (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement or (vi) the exercise of the Pool 1 Call Option or the Pool 2 Call Option, nor acquire any assets for the Trust, except as provided in Article II hereofany REMIC, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any the REMIC Pool (other than a cash contribution during after the 3-month period beginning on the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, Certificates other than the Residual Certificates, Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Trust Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2000-2)

Prohibited Transactions and Activities. Neither the Trustee, the Paying Agent, the Master Servicer Depositor nor the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any each REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article VII of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement or (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement, nor acquire any assets for the Trust, except as provided in Article II hereofany REMIC, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during after the 3-month period beginning on the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, Certificates other than the Residual Certificates, Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions. The Trustee shall not consent to any modification of any material term of any Mortgage Loan unless it has received an Opinion of Counsel (at the expense of the party requesting such modification) to the effect that such modification would not cause the Trust Fund to fail to qualify as a REMIC or result in the imposition of any tax under Section 860(F)(a) or Section 860(G)(d) of the Code.

Appears in 1 contract

Samples: Trust Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 1999 1)

Prohibited Transactions and Activities. Neither the Trustee, the Paying Agent, the Master Servicer nor the Special Servicer The Trustee shall not permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the Trust REMIC or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the Trust REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, ) or substitution of the Mortgage Loans (iv) except a substitution pursuant to Article II hereof)Sections 2.06(b) or 3.03) or the substitution of a property for a Mortgaged Property, nor acquire any assets for the Trust, except as provided in Article II hereof, nor sell Trust REMIC (other than REO Property or dispose of any investments in the Certificate Account a Qualified Substitute Mortgage Loan pursuant to Sections 2.06(b) or Distribution Account for gain3.03), nor accept any contributions to any the Trust REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting the Trustee to take such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any the Trust REMIC Pool as a REMIC or of the REMIC Certificates, other than the Residual Certificates, Class A Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any the Trust REMIC Pool (except pursuant to the provisions of this Agreement) or (Dd) cause any the Trust REMIC Pool to be subject to a an unindemnified tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.. 57

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Eqcc Asset Backed Corp)

Prohibited Transactions and Activities. Neither the Trustee, the Paying AgentIssuer, the Master Servicer nor the Special Servicer Manager acting on behalf of the Issuer shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Estate, (iii) the termination of any each REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article X of the Codethis Indenture, or (iv) a substitution of a Replacement Mortgage Loan for a Mortgage Loan or (v) a purchase of a Mortgage Loan pursuant to Article II hereof)Section 8.04 or Section 8.05 of this Indenture, nor acquire any assets for the Trust, except as provided in Article II hereofany REMIC, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any the REMIC Pool (other than a cash contribution during after the 3-month period beginning on the Startup Day)Closing Date, unless it the Trustee has received an Opinion of Counsel (at the expense of the Person requesting party causing such actiondisposition, acquisition, substitution, or acceptance) to the effect that such disposition, acquisition, substitution, or acceptance will shall not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, Bonds other than the Residual Certificates, Class A-R Bonds as the regular interests therein, (Bb) affect adversely the distribution payment of interest or principal on the CertificatesBonds, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool constituting the Trust Estate (except pursuant to the provisions of this AgreementIndenture) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Indenture (Sequoia Mortgage Funding Corp)

Prohibited Transactions and Activities. Neither the Trustee, the Paying AgentDepositor, the Master Servicer nor the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any each REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article VII of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement, or (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement or (vi) the exercise of the Class 1-A1 Call Option or the Class 2-A1 Call Option, nor acquire any assets for the Trust, except as provided in Article II hereofany REMIC, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any the REMIC Pool (other than a cash contribution during after the 3-month period beginning on the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, Certificates other than the Residual Certificates, Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Trust Agreement (Structured Asset Securities Corp)

Prohibited Transactions and Activities. Neither None of the TrusteeDepositor, the Paying AgentServicer, the Master Servicer nor Securities Administrator or the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement, (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement or (vi) an optional purchase by the Depositor pursuant to Section 3.16 of this Agreement, nor acquire any assets for any REMIC constituting part of the Trust, except as provided in Article II hereofTrust Fund, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during constituting part of the 3-month period beginning on Trust Fund after the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Class R Certificate as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Wells Fargo Asset Securities Corp)

Prohibited Transactions and Activities. Neither None of the TrusteeDepositor, the Paying AgentServicer, the Master Servicer nor Securities Administrator or the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement, (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement or (vi) an optional purchase by the Depositor pursuant to Section 3.16 of this Agreement, nor acquire any assets for any REMIC constituting part of the Trust, except as provided in Article II hereofTrust Fund, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during constituting part of the 3-month period beginning on Trust Fund after the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, interests therein other than the Residual Class R or Class R-X Certificates, as applicable, and as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Wells Fargo Home Equity Asset-Backed Securities 2005-2 Trust)

Prohibited Transactions and Activities. Neither None of the TrusteeDepositor, the Paying AgentServicers, the Master Servicer nor Servicer, the Special Servicer Securities Administrator or the Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Issuing Entity, (iii) the termination of any each REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article VII of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement or (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement, nor acquire any assets for the Trust, except as provided in Article II hereofany REMIC, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during after the 3-month period beginning on the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Certificate as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Issuing Entity (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to any tax including a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series MLCC 2006-2)

Prohibited Transactions and Activities. Neither None of the TrusteeDepositor, the Paying AgentServicer, the Master Servicer nor Servicer, the Special Servicer Trust Administrator or the Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) created hereunder pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement or (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement, nor acquire any assets for the Trust, except as provided in Article II hereofany REMIC, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any either REMIC Pool (other than a cash contribution during after the 3-month period beginning on the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any REMIC Pool created hereunder as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any REMIC Pool created hereunder to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-Hl1)

Prohibited Transactions and Activities. Neither The Special Servicer, on behalf of the TrusteeTrust, the Paying Agent, the Master Servicer nor the Special Servicer shall not permit the sale, sale or disposition or substitution of any of the Mortgage Loans Loan unless the Mortgage Loan is the subject of a Material Breach or Material Document Defect or is in default or default with respect thereto is not reasonably foreseeable (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the Lower-Tier REMIC or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the Lower-Tier REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for either the Trust, except as provided in Article II hereofLower-Tier REMIC or the Upper-Tier REMIC (other than Foreclosed Property), nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor receive any amount representing a fee or other compensation for services, nor accept any contributions to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (other than a cash contribution during the 3-three month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting it to take such action) to the effect that such disposition, acquisition, substitution, substitution or acceptance will shall not (Aa) affect adversely the status of any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC as a REMIC REMIC, or of the REMIC Certificates, other than the Residual Certificates, Certificates as the representing regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (except pursuant to the provisions of this Agreement) ), or (Dd) cause any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Trust and Servicing Agreement (GS Mortgage Securities Trust 2020-Gc47)

Prohibited Transactions and Activities. Neither the Trustee, the Paying AgentDepositor, the Master Servicer nor the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) created hereunder pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)or Section 3.10 of this Agreement or (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement, nor acquire any assets for the Trust, except as provided in Article II hereofany REMIC, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gainAccount, nor accept any contributions to any either REMIC Pool (other than a cash contribution during after the 3-month period beginning on the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such action) to the effect that such sale, disposition, acquisition, substitutionsubstitition or acceptance) acceptable to the Certificate Insurer that such sale, disposition, acquisition, substitution or acceptance will not (Aa) affect adversely the status of any REMIC Pool created hereunder as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or ), (Dd) cause any REMIC Pool created hereunder to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC ProvisionsProvisions or (e) disqualify the Trust from being a qualifying special purpose entity under generally accepted accounting principles.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Indymac Residential Mortgage-Backed Trust, Series 2005-L1)

Prohibited Transactions and Activities. Neither Subject to the Trusteeprovisions of Article II and Section 3.1(d), neither the Paying Agent, Trustee nor the Master Servicer nor the Special Servicer shall permit the sale, disposition or substitution of any of the Mortgage Loans Note or the substitution of a property for a Mortgage Property (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the Upper-Tier REMIC or the Lower-Tier REMIC or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the Upper-Tier REMIC Pool or the Lower-Tier REMIC in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for the Trust, except as provided in Article II hereofUpper-Tier REMIC or the Lower-Tier REMIC (other than REO), nor sell or dispose of any investments in the Certificate Account or Distribution Account Accounts for gain, nor accept any contributions to any the Upper-Tier REMIC Pool (other than a cash contribution during or the 3Lower-month period beginning on the Startup Day)Tier REMIC, unless it has received an Opinion of Counsel (at the expense of the Person requesting the Trustee to take such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any the Upper- Tier REMIC Pool or the Lower-Tier REMIC as a REMIC or of the REMIC Certificates, other than the Residual Certificates, as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any the Upper-Tier REMIC Pool or the Lower-Tier REMIC (except pursuant to the provisions of this Agreement) or (Dd) cause any the Upper-Tier REMIC Pool or the Lower-Tier REMIC to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Union Residential Securitization Transactions Inc)

Prohibited Transactions and Activities. Neither None of the TrusteeDepositor, the Paying AgentServicers, the Master Servicer nor Servicer, the Special Servicer Securities Administrator or the Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement, (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement or (vi) an optional purchase pursuant to Section 3.34, nor acquire any assets for any REMIC constituting part of the Trust, except as provided in Article II hereofTrust Fund, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during constituting part of the 3-month period beginning on Trust Fund after the Startup Day)Closing Date, unless it such party and the NIMS Insurer has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, interests therein other than the a Residual Certificates, Certificate as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (ABFC 2006-He1 Trust)

Prohibited Transactions and Activities. Neither the TrusteeSponsor, the Paying AgentDepositor, the Master Servicer nor the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement or (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement, nor acquire any assets for any REMIC constituting part of the Trust, except as provided in Article II hereofTrust Fund, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during constituting part of the 3-month period beginning on Trust Fund after the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.. 127

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Ownit Mortgage Loan Trust, Series 2006-1)

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Prohibited Transactions and Activities. Neither the TrusteeSeller, the Paying AgentDepositor, the Master Servicer nor the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement or (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement, nor acquire any assets for any REMIC constituting part of the Trust, except as provided in Article II hereofTrust Fund, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during constituting part of the 3-month period beginning on Trust Fund after the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.. 137

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc C-Bass 2004-Cb6 Trust)

Prohibited Transactions and Activities. Neither (a) None of the TrusteeDepositor, the Paying AgentServicer, the Master Servicer nor Securities Administrator or the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement, (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement or (vi) an optional purchase by the Depositor pursuant to Section 3.16 of this Agreement, nor acquire any assets for any REMIC constituting part of the Trust, except as provided in Article II hereofTrust Fund, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during constituting part of the 3-month period beginning on Trust Fund after the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, interests therein other than the Residual Class R or Class R-X Certificates, as applicable, and as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Wells Fargo Asset Securities Corp)

Prohibited Transactions and Activities. Neither the TrusteeSeller, the Paying AgentDepositor, the Master Servicer nor the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement or (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement, nor acquire any assets for any REMIC constituting part of the Trust, except as provided in Article II hereofTrust Fund, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during constituting part of the 3-month period beginning on Trust Fund after the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.. 158

Appears in 1 contract

Samples: Pooling and Servicing Agreement (C-Bass 2007-Cb5 Trust)

Prohibited Transactions and Activities. Neither the Trustee, the Paying Agent, the Master Servicer nor the Special Servicer The Trustee shall not permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any Trust REMIC Pool, or (iiiii) the termination of any Trust REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, ) or substitution of the Mortgage Loans (iv) except a substitution pursuant to Article II hereof)Sections 2.06(b) or 3.03) or the substitution of a property for a Mortgaged Property, nor acquire any assets for the Trust, except as provided in Article II hereof, nor sell any Trust REMIC (other than REO Property or dispose of any investments in the Certificate Account a Qualified Substitute Mortgage Loan pursuant to Sections 2.06(b) or Distribution Account for gain3.03), nor accept any contributions to any Trust REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting the Trustee to take such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any Trust REMIC Pool as a REMIC or of the REMIC CertificatesI Regular Interests, other than the Residual Certificates, REMIC II Regular Interests or the REMIC III Regular Interests represented by the Class A Certificates and the Class X Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any Trust REMIC Pool (except pursuant to the provisions of this Agreement) or (Dd) cause any Trust REMIC Pool to be subject to a an unindemnified tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Eqcc Receivables Corp)

Prohibited Transactions and Activities. Neither None of the TrusteeDepositor, the Paying AgentServicer, the Master Servicer nor Servicer, the Special Servicer Securities Administrator or the Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement, (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement or (vi) an optional purchase pursuant to Section 3.34, nor acquire any assets for any REMIC constituting part of the Trust, except as provided in Article II hereofTrust Fund, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during constituting part of the 3-month period beginning on Trust Fund after the Startup Day)Closing Date, unless it such party and the NIMS Insurer has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, interests therein other than the a Residual Certificates, Certificate as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (ABFC 2007-Wmc1 Trust)

Prohibited Transactions and Activities. Neither None of the TrusteeDepositor, the Paying AgentServicer or the Trustee shall sell, the Master Servicer nor the Special Servicer shall permit the saledispose of, disposition or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement, (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement or (vi) an optional purchase by the Servicer pursuant to Section 3.16 of this Agreement, nor acquire any assets for any REMIC constituting part of the Trust, except as provided in Article II hereofTrust Fund, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during constituting part of the 3-month period beginning on Trust Fund after the Startup Day)Closing Date, unless it such party and the NIMS Insurer has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Class R or Class R-X Certificate as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Asset Backed Funding Corp)

Prohibited Transactions and Activities. Neither None of the TrusteeDepositor, the Paying AgentServicer or the Trustee shall sell, the Master Servicer nor the Special Servicer shall permit the saledispose of, disposition or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement, (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement or (vi) an optional purchase by the Servicer pursuant to Section 3.16 of this Agreement, nor acquire any assets for any REMIC constituting part of the Trust, except as provided in Article II hereofTrust Fund, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during constituting part of the 3-month period beginning on Trust Fund after the Startup Day)Closing Date, unless it such party and the NIMS Insurer has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, interests therein other than the a Residual Certificates, Certificate as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (ABFC Asset-Backed Certificates, Series 2005-Wmc1)

Prohibited Transactions and Activities. Neither The Special Servicer, on behalf of the TrusteeTrust Fund, the Paying Agent, the Master Servicer nor the Special Servicer shall not permit the sale, sale or disposition or substitution of any of the Mortgage Loans Trust Loan at a time when the Trust Loan is not the subject of a breach of a representation or is not in default or default with respect thereto is not reasonably foreseeable (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the Lower-Tier REMIC or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the Lower-Tier REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for either the Trust, except as provided in Article II hereofLower-Tier REMIC or the Upper-Tier REMIC (other than Foreclosed Property), nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor receive any amount representing a fee or other compensation for services, nor accept any contributions to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (other than a cash contribution during the 3three-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting it to take such action) to the effect that such disposition, acquisition, substitution, substitution or acceptance will not (Aa) cause either the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC, or adversely affect adversely the status of any REMIC Pool the Regular Certificates as a REMIC or of the REMIC Certificates, other than the Residual Certificates, as the representing regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (except pursuant to the provisions of this Agreement) ), or (Dd) cause any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.. 240

Appears in 1 contract

Samples: Trust and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2021-C61)

Prohibited Transactions and Activities. Neither the Trustee, Trustee nor the Paying Agent, the Master Servicer nor the Special Servicer shall permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for the Trust, except as provided in Article II hereof, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (A) affect adversely the status of any REMIC Pool as a REMIC or of the REMIC Certificates, other than the Residual Certificates, as the regular interests therein, (B) affect the distribution of interest or principal on the Certificates, (C) result in the encumbrance of the assets transferred or assigned to any REMIC Pool (except pursuant to the provisions of this Agreement) or (D) cause any REMIC Pool to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Inc)

Prohibited Transactions and Activities. Neither None of the TrusteeDepositor, the Paying AgentServicer, the Master Servicer nor Securities Administrator or the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement, (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement or (vi) an optional purchase by the Depositor pursuant to Section 3.16 of this Agreement, nor acquire any assets for any REMIC constituting part of the Trust, except as provided in Article II hereofTrust Fund, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during constituting part of the 3-month period beginning on Trust Fund after the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, interests therein other than the Residual Class R-1 or Class R-2 Certificates, as applicable, and as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Wells Fargo Home Equity Asset-Backed Securities 2005-4 Trust)

Prohibited Transactions and Activities. Neither the Trustee, the Paying Agent, Trustee the Master Servicer nor the Special Servicer shall permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for the Trust, except as provided in Article II hereof, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (A) affect adversely the status of any REMIC Pool as a REMIC or of the REMIC Certificates, other than the Residual Certificates, as the regular interests therein, (B) affect the distribution of interest or principal on the Certificates, (C) result in the encumbrance of the assets transferred or assigned to any REMIC Pool (except pursuant to the provisions of this Agreement) or (D) cause any REMIC Pool to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Inc Depositor for Ser 1999-Life1)

Prohibited Transactions and Activities. Neither None of the Trustee, the Paying Agent, the Master Servicer nor or the Special Servicer shall shall, to the extent within its control, permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure foreclosure, default or imminent default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a repurchase or substitution pursuant to by any Seller, any Additional Warranting Party or the Xxxxx Guarantor as contemplated by Article II hereof), nor acquire any assets for the Trust, except as provided in Article II hereof, nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting such action) to the effect that such sale, disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any REMIC Pool as a REMIC or of the REMIC I Regular Interests, the REMIC II Regular Interests or the REMIC III Regular Certificates, other than as the Residual Certificatescase may be, as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool (except pursuant to the provisions of this Agreement) or (Dd) cause any REMIC Pool to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Inc)

Prohibited Transactions and Activities. Neither the Trustee, the Paying Agent, the Master Servicer nor the Special Servicer The Trustee shall not permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the Trust REMIC or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the Trust REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, ) or substitution of the Mortgage Loans (iv) except a substitution pursuant to Article II hereof)Sections2.06(b) or 3.03) or the substitution of a property for a Mortgaged Property, nor acquire any assets for the Trust, except as provided in Article II hereof, nor sell Trust REMIC (other than REO Property or dispose of any investments in the Certificate Account a Qualified Substitute Mortgage Loan pursuant to Sections2.06(b) or Distribution Account for gain3.03), nor accept any contributions to any the Trust REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting the Trustee to take such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any the Trust REMIC Pool as a REMIC or of the REMIC Certificates, other than the Residual Certificates, Class A Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any the Trust REMIC Pool (except pursuant to the provisions of this Agreement) or (Dd) cause any the Trust REMIC Pool to be subject to a an unindemnified tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Eqcc Asset Backed Corp)

Prohibited Transactions and Activities. Neither Subject to the Trusteeprovisions of Article II, neither the Paying Agent, Trustee nor the Master Servicer nor the Special Servicer shall permit the sale, disposition or substitution of any a Mortgage Note or the substitution of the Mortgage Loans a property for a Mortgaged Property (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the REMIC I or REMIC II or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the REMIC Pool I or REMIC II in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for the Trust, except as provided in Article REMIC I or REMIC II hereof(other than REO), nor sell or dispose of any investments in the Certificate Account or Distribution Account Accounts for gain, nor accept any contributions to any the REMIC Pool I or REMIC II (other than a cash contribution during the 3-month period beginning on the Startup Dayexcept as contemplated by Section 4.2), unless it has received an (x) a Nondisqualification Opinion of Counsel (at the expense of the Person requesting the Trustee or the Master Servicer to take such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any the REMIC Pool I or REMIC II as a REMIC or of the REMIC Certificates, other than the Residual Certificates, or Lower-Tier regular interests as the regular interests therein, (B) affect the distribution of interest or principal on the Certificates, (Cb) result in the encumbrance of the assets transferred or assigned to any the REMIC Pool I or REMIC II (except pursuant to the provisions of this Agreement) or (Dc) cause any the REMIC Pool I or REMIC II to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC ProvisionsProvisions and (y) (i) as to any sale or disposition of a Mortgage Note, a statement in writing by the Master Servicer delivered to the Trustee setting forth the analysis described in Section 3.7 hereof and stating the Master Servicer's determination was made in accordance with Section 3.7 or (ii) as to any other described transaction, a statement delivered to the Trustee by the party requesting such transaction that the transaction will not reduce the aggregate disposition of interest or principal on the Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Union Residential Securitization Transactions Inc)

Prohibited Transactions and Activities. Neither the Trustee, the Paying Agent, the Master Servicer nor the Special Servicer shall permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for the Trust, except as provided in Article II hereof, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (A) affect adversely the status of any REMIC Pool as a REMIC or of the REMIC CertificatesI Regular Interests, other than the Residual CertificatesREMIC II Regular Interests or REMIC III Regular Interests, as applicable, as the regular interests therein, (B) affect the distribution of interest or principal on the Certificates, (C) result in the encumbrance of the assets transferred or assigned to any REMIC Pool (except pursuant to the provisions of this Agreement) or (D) cause any REMIC Pool to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2001-Top4)

Prohibited Transactions and Activities. Neither the Trustee, the Paying AgentDepositor, the Master Servicer nor the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any the REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) holding such Mortgage Loan pursuant to Article VII of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement, or (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement, nor acquire any assets for the Trust, except as provided in Article II hereofany REMIC, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool after the Closing Date (other than a cash contribution during any contributions from the 3-month period beginning on the Startup DayFunding Account as provided in Section 5.06 hereof), unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, Certificates other than the Residual Certificates, Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Trust Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-3)

Prohibited Transactions and Activities. Neither the Trustee, the Paying Agent, the Master Servicer nor the Special Servicer shall permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for the Trust, except as provided in Article II hereof, nor sell or dispose of any investments in the Certificate Account Accounts or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (A) affect adversely the status of any REMIC Pool as a REMIC or of the REMIC Certificates, other than the Residual Certificates, as the regular interests therein, (B) affect the distribution of interest or principal on the Certificates, (C) result in the encumbrance of the assets transferred or assigned to any REMIC Pool (except pursuant to the provisions of this Agreement) or (D) cause any REMIC Pool to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Distribution Instructions (Morgan Stanley Capital I Inc.)

Prohibited Transactions and Activities. Neither The Special Servicer, on behalf of the TrusteeTrust Fund, the Paying Agent, the Master Servicer nor the Special Servicer shall not permit the sale, sale or disposition or substitution of any of the Mortgage Loans Loan at a time when the Mortgage Loan is not the subject of a breach of a representation or is not in default or default with respect thereto is not reasonably foreseeable (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the Lower-Tier REMIC or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the Lower-Tier REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for either the Trust, except as provided in Article II hereofLower-Tier REMIC or the Upper-Tier REMIC (other than Foreclosed Property), nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor receive any amount representing a fee or other compensation for services, nor accept any contributions to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (other than a cash contribution during the 3three-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting it to take such action) to the effect that such disposition, acquisition, substitution, substitution or acceptance will not (Aa) affect adversely the status of any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC as a REMIC REMIC, or of the REMIC Certificates, other than the Residual Certificates, Certificates as the representing regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (except pursuant to the provisions of this Agreement) ), or (Dd) cause any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Trust and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2015-C28)

Prohibited Transactions and Activities. Neither the TrusteeSeller, the Paying AgentDepositor, the Master Servicer nor the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) created hereunder pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement or (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement, nor acquire any assets for the Trust, except as provided in Article II hereofany REMIC, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during after the 3-month period beginning on the Startup Day)Closing Date, unless it has and the Guarantor have received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any REMIC Pool created hereunder as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any REMIC Pool created hereunder to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Residential Asset Funding Corp)

Prohibited Transactions and Activities. Neither None of the TrusteeDepositor, the Paying AgentServicer, the Master Servicer nor Securities Administrator or the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement, (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement or (vi) an optional purchase by the Depositor pursuant to Section 3.16 of this Agreement, nor acquire any assets for any REMIC constituting part of the Trust, except as provided in Article II hereofTrust Fund, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during constituting part of the 3-month period beginning on Trust Fund after the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, interests therein other than the Residual Class RII-1, Class RII-2 or Class RII-3 Certificates, as applicable, and as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Wells Fargo Home Equity Asset-Backed Securities 2005-3 Trust)

Prohibited Transactions and Activities. Neither Subject to the Trusteeprovisions of Article II, neither the Paying Agent, Trustee nor the Master Servicer nor the Special Servicer shall permit the sale, disposition or substitution of any a Mortgage Note or the substitution of the Mortgage Loans a property for a Mortgaged Property (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the REMIC I or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the REMIC Pool I in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for the Trust, except as provided in Article II hereofREMIC I (other than REO), nor sell or dispose of any investments in the Certificate Account or Distribution Account Accounts for gain, nor accept any contributions to any the REMIC Pool I (other than a cash contribution during the 3-month period beginning on the Startup Dayexcept as contemplated by Section 4.2), unless it has received an (x) a Nondisqualification Opinion of Counsel (at the expense of the Person requesting the Trustee or the Master Servicer to take such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any REMIC Pool as a REMIC or of the REMIC Certificates, other than the Residual Certificates, as the regular interests therein, ; (B) affect the distribution of interest or principal on the Certificates, (Cb) result in the encumbrance of the assets transferred or assigned to any the REMIC Pool I (except pursuant to the provisions of this Agreement) or (Dc) cause any the REMIC Pool I to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC ProvisionsProvisions and (y) (i) as to any sale or disposition of a Mortgage Note, a statement in writing by the Master Servicer 160 167 delivered to the Trustee setting forth the analysis described in Section 3.7 hereof and stating the Master Servicer's conclusion that the aggregate distribution of interest and principal on the Certificates will not be reduced by such sale or disposition or (ii) as to any other described transaction, a statement delivered the Trustee by the party requesting such transaction that the transaction will not reduce the aggregate disposition of interest or principal on the Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Union Residential Securitization Transactions Inc)

Prohibited Transactions and Activities. Neither the Trustee, the Paying Agent, the Master Servicer -------------------------------------- Depositor nor the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any each REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article VII of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement or (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement, nor acquire any assets for the Trust, except as provided in Article II hereofany REMIC, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during after the 3-month period beginning on the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, Certificates other than the Residual Certificates, Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions. The Trustee shall not consent to any modification of any material term of any Mortgage Loan unless it has received an Opinion of Counsel (at the expense of the party requesting such modification) to the effect that such modification would not cause the Trust Fund to fail to qualify as a REMIC or result in the imposition of any tax under Section 860(F)(a) or Section 860(G)(d) of the Code.

Appears in 1 contract

Samples: Trust Agreement (Structured Asset Securities Corporation)

Prohibited Transactions and Activities. Neither The Special Servicer, on behalf of the TrusteeTrust Fund, the Paying Agent, the Master Servicer nor the Special Servicer shall not permit the sale, sale or disposition or substitution of any of the Mortgage Loans Trust Loan at a time when the Trust Loan is not the subject of a breach of a representation or is not in default or default with respect thereto is not reasonably foreseeable (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the Lower-Tier REMIC or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the Lower-Tier REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for either the Trust, except as provided in Article II hereofLower-Tier REMIC or the Upper-Tier REMIC (other than REO Property), nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor receive any amount representing a fee or other compensation for services, nor accept any contributions to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (other than a cash contribution during the 3three-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting it to take such action) to the effect that such disposition, acquisition, substitution, substitution or acceptance will not (Aa) affect adversely the status of any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC as a REMIC REMIC, or of the REMIC Certificates, other than the Residual Certificates, Certificates as the representing regular interests therein, (Bb) affect the distribution of interest or principal on the Regular Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (except pursuant to the provisions of this Agreement) ), or (Dd) cause any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Trust and Servicing Agreement (Deutsche Mortgage & Asset Receiving Corp)

Prohibited Transactions and Activities. Neither the Trustee, the Paying AgentDepositor, the Master Servicer nor the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any Trust REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement or (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement, nor acquire any assets for the Trust, except as provided in Article II hereofany Trust REMIC, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any either REMIC Pool (other than a cash contribution during after the 3-month period beginning on the Startup Day)Closing Date, unless it has it, the Guarantor and the NIMS Insurer have received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any Trust REMIC Pool as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any Trust REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Tr Asset Backed Cert Ser 2002-5)

Prohibited Transactions and Activities. Neither the TrusteeDepositor, the Paying Agent, the Master Servicer nor the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) created hereunder pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement or (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement, nor acquire any assets for the Trust, except as provided in Article II hereofany REMIC, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions (other than with respect to any contribution pursuant to Section 860G(d)(2) of the Code) to any REMIC Pool (other than a cash contribution during after the 3-month period beginning on the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, substitution or contribution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any REMIC Pool created hereunder as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any REMIC Pool created hereunder to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Equifirst Mortgage Loan Trust 2005-1)

Prohibited Transactions and Activities. Neither The Special Servicer, on behalf of the TrusteeTrust Fund, the Paying Agent, the Master Servicer nor the Special Servicer shall not permit the sale, sale or disposition or substitution of any of the Mortgage Loans Trust Loan at a time when the Trust Loan is not the subject of a breach of a representation or is not in default or default with respect thereto is not reasonably foreseeable (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the Trust REMIC or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the Trust REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for the Trust, except as provided in Article II hereofTrust REMIC (other than Foreclosed Property), nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor receive any amount representing a fee or other compensation for services, nor accept any contributions to any the Trust REMIC Pool (other than a cash contribution during the 3three-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting it to take such action) to the effect that such disposition, acquisition, substitution, substitution or acceptance will not (Aa) affect adversely the status of any the Trust REMIC Pool as a REMIC REMIC, or of the REMIC Certificates, other than the Residual Certificates, Regular Certificates as the representing regular interests therein, (Bb) affect the distribution of interest or principal on the Regular Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any the Trust REMIC Pool (except pursuant to the provisions of this Agreement) ), or (Dd) cause any the Trust REMIC Pool to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Trust and Servicing Agreement (WFRBS Commercial Mortgage Trust 2013-C18)

Prohibited Transactions and Activities. Neither the Trustee, the Paying Agent, the Master Servicer nor the Special Servicer shall permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for the Trust, except as provided in Article II hereof, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (A) affect adversely the status of any REMIC Pool as a REMIC or of the REMIC III Certificates, other than the Residual Certificates, as the regular interests therein, (B) affect the distribution of interest or principal on the Certificates, (C) result in the encumbrance of the assets transferred or assigned to any REMIC Pool (except pursuant to the provisions of this Agreement) or (D) cause any REMIC Pool to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2007-Hq11)

Prohibited Transactions and Activities. Neither None of the Trustee, the Paying AgentDepositor, the Master Servicer nor or the Special Servicer Trustee shall permit the salesell, disposition dispose of or substitution of substitute for any of the Mortgage Loans (except in a disposition pursuant to connection with (i) the foreclosure or default of a Mortgage Loan, including but not limited to, the acquisition or sale of a Mortgaged Property acquired by deed in lieu of foreclosure, (ii) the bankruptcy of the any of REMIC I, REMIC II or insolvency of any REMIC Pool, III (iii) the termination of any of REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) I, REMIC II or REMIC III pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereofof this Agreement or (v) a purchase of Mortgage Loans pursuant to Article II or III of this Agreement), nor acquire any assets for the Trustany of REMIC I, except as provided REMIC II or REMIC III (other than REO Property acquired in Article II hereofrespect of a defaulted Mortgage Loan), nor sell or dispose of any investments in the Certificate Collection Account or the Distribution Account for gain, nor accept any contributions to any of REMIC Pool I, REMIC II or REMIC III after the Closing Date (other than a cash contribution during the 3-month period beginning on the Startup DayQualified Substitute Mortgage Loan delivered in accordance with Section 2.03), unless it has received an Opinion of Counsel Counsel, addressed to the Trustee (at the expense of the Person requesting party seeking to cause such action) to the effect that such sale, disposition, acquisition, substitution, acquisition or acceptance contribution but in no event an expense of the Trustee) that such sale, disposition, substitution, acquisition or contribution will not (Aa) affect adversely the status of any of REMIC Pool I, REMIC II or REMIC III as a REMIC or of the REMIC Certificates, other than the Residual Certificates, as the regular interests therein, (B) affect the distribution of interest or principal on the Certificates, (C) result in the encumbrance of the assets transferred or assigned to any REMIC Pool (except pursuant to the provisions of this Agreement) or (Db) cause any of REMIC Pool I, REMIC II or REMIC III to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Mor Pa THR Cert Se 1997 Hud-1)

Prohibited Transactions and Activities. Neither 137 None of the TrusteeTransferor, the Paying AgentDepositor, the Master Servicer nor or the Special Servicer Trustee shall permit the sale(a) sell, disposition dispose of or substitution of substitute for any of the Mortgage Loans (Loan, except in a disposition pursuant to connection with (i) the foreclosure or default of a Mortgage Loan, including but not limited to, the acquisition or sale of a Foreclosed Property, (ii) the bankruptcy of REMIC I or insolvency of any REMIC PoolII, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) I and REMIC II, pursuant to Article XIII of the Codethis Agreement, or (iv) a substitution purchase of Mortgage Loans pursuant to Article II hereof)or III of this Agreement or Section 6.11 or 6.12, nor (b) acquire any assets for the TrustREMIC I or REMIC II, except as provided in Article II hereof, nor (c) sell or dispose of any investments in the Certificate Account or Distribution Account Accounts for gain, nor (d) accept any contributions to REMIC I or REMIC II after the Closing Date or (e) modify any REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day)Mortgage Loan, except pursuant to Article V, unless it has received an Opinion of Counsel (at the expense of the Person requesting party seeking to cause such action) to the effect that such sale, disposition, acquisition, substitution, or acceptance acquisition, but in no event shall such Opinion of Counsel be an expense of the Trustee or the Certificate Insurer) that such sale, disposition, substitution or acquisition will not (Ax) affect adversely the REMIC status of any REMIC Pool as a I or REMIC or of the REMIC Certificates, other than the Residual Certificates, as the regular interests therein, (B) affect the distribution of interest or principal on the Certificates, (C) result in the encumbrance of the assets transferred or assigned to any REMIC Pool (except pursuant to the provisions of this Agreement) II or (Dy) cause any REMIC Pool I or REMIC II to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Abs Capital I Inc)

Prohibited Transactions and Activities. Neither the Trustee, the Paying AgentDepositor, the Master Servicer nor the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any the REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) holding such Mortgage Loan pursuant to Article VII of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement, or (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement, nor acquire any assets for the Trust, except as provided in Article II hereofany REMIC, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool after the Closing Date (other than a cash contribution during than, if applicable, any contributions from the 3-month period beginning on the Startup DayFunding Account as provided in Section 5.06 hereof), unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such action) to the effect sale, disposition, or substitution), that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, Certificates other than the Residual Certificates, Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Trust Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2008-1)

Prohibited Transactions and Activities. Neither None of the Trustee, the Paying Agent, the Master Servicer nor or the Special Servicer shall shall, to the extent within its control, permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure foreclosure, default or imminent default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the REMIC Pool Pools in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a repurchase or substitution pursuant to by any Seller, as contemplated by Article II hereof), nor acquire any assets for the Trust, except as provided in Article II hereofherein, nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting such action) to the effect that such sale, disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any REMIC Pool as a REMIC or of the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Certificates or the Component Interests of the Class X Certificates, other than as the Residual Certificatescase may be, as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (C) result in the encumbrance of the assets transferred or assigned to any REMIC Pool (except pursuant to the provisions of this Agreement) or (D) cause any REMIC Pool to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.156

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Inc Depositor for Series 1999-Fnv1)

Prohibited Transactions and Activities. Neither the Trustee, the Paying Agent, the Master Servicer nor the Special Servicer shall permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for the Trust, except as provided in Article II hereof, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (A) affect adversely the status of any REMIC Pool as a REMIC or of the REMIC Certificates, other than the Residual Certificates, as the regular interests therein, (B) affect the distribution of interest or principal on the Certificates, (C) result in the encumbrance of the assets transferred or assigned to any REMIC Pool (except pursuant to the provisions of this Agreement) or (D) cause any REMIC Pool to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Cap I Inc Capital I Tr 2004-Hq3)

Prohibited Transactions and Activities. Neither None of the TrusteeDepositor, the Paying AgentServicers, the Master Servicer nor Servicer, the Special Servicer Securities Administrator or the Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Issuing Entity, (iii) the termination of any each REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article VII of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement or (v) a repurchase of Mortgage Loans pursuant to Article II of this Agreement, nor acquire any assets for the Trust, except as provided in Article II hereofany REMIC, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during after the 3-month period beginning on the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Certificate as the regular interests 115 therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Issuing Entity (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to any tax including a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series MLCC 2006-3)

Prohibited Transactions and Activities. Neither None of the Trustee, the Paying Agent, the Master Servicer nor or the Special Servicer shall shall, to the extent within its control, permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure foreclosure, default or imminent default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a repurchase or substitution pursuant to by the Seller, as contemplated by Article II hereof), nor acquire any assets for the Trust, except as provided in Article II hereof, nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting such action) to the effect that such sale, disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any REMIC Pool as a REMIC or of the REMIC I Regular Interests, the REMIC II Regular Interests or the REMIC III Regular Certificates, other than as the Residual Certificatescase may be, as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool (except pursuant to the provisions of this Agreement) or (Dd) cause any REMIC Pool to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC ProvisionsProvisions (except for the tax on "net income from foreclosure property" to the extent permitted in Section 8.20(a)).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Inc)

Prohibited Transactions and Activities. Neither the Trustee, the Paying Agent, the Master Servicer nor the Special Servicer The Trustee shall not permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any Trust REMIC Pool, or (iiiii) the termination of any Trust REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, ) or substitution of the Mortgage Loans (iv) except a substitution pursuant to Article II hereof)Sections -------- 2.06(b) or 3.03) or the substitution of a property for a Mortgaged Property, nor ------- ----- acquire any assets for the Trust, except as provided in Article II hereof, nor sell any Trust REMIC (other than REO Property or dispose of any investments in the Certificate Account a Qualified Substitute Mortgage Loan pursuant to Sections 2.06(b) or Distribution Account for gain3.03), nor accept any ---------------- ----- contributions to any Trust REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting the Trustee to take such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any Trust REMIC Pool as a REMIC or of the REMIC CertificatesI Regular Interests, other than the Residual Certificates, REMIC II Regular Interests or the REMIC III Regular Interests represented by the Class A Certificates and the Class X Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any Trust REMIC Pool (except pursuant to the provisions of this Agreement) or (Dd) cause any Trust REMIC Pool to be subject to a an unindemnified tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Eqcc Receivables Corp)

Prohibited Transactions and Activities. Neither the TrusteeSeller, the Paying AgentDepositor, the Master Servicer nor the Special Servicer Trustee shall permit the salesell, disposition dispose of, or substitution of substitute for any of the Mortgage Loans (Loans, except in a disposition pursuant to (i) the foreclosure or default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Poolthe Trust Fund, (iii) the termination of any REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) pursuant to Article X of the Codethis Agreement, or (iv) a substitution pursuant to Article II hereof)of this Agreement or (v) a repurchase of Mortgage 134 Loans pursuant to Article II of this Agreement, nor acquire any assets for any REMIC constituting part of the Trust, except as provided in Article II hereofTrust Fund, nor sell or dispose of any investments in the Certificate Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during constituting part of the 3-month period beginning on Trust Fund after the Startup Day)Closing Date, unless it has received an Opinion of Counsel (at the expense of the Person requesting party causing such actionsale, disposition, or substitution) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any such REMIC Pool as a REMIC or of the REMIC Certificates, interests therein other than the Residual Certificates, Certificates as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool the Trust Fund (except pursuant to the provisions of this Agreement) or (Dd) cause any such REMIC Pool to be subject to a tax on "prohibited transactions" transactions or "prohibited contributions" or other tax contributions pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (C-Bass Mortgage Loan Asset-Backed Certificates, Series 2006-Cb8)

Prohibited Transactions and Activities. Neither None of the Trustee, the Paying Agent, the Master Servicer nor or the Special Servicer shall shall, to the extent within its control, permit the sale, disposition or substitution of any of the Mortgage Loans (except in a disposition pursuant to (i) the foreclosure foreclosure, default or imminent default of a Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the REMIC Pool Pools in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a repurchase or substitution pursuant to by any Seller, as contemplated by Article II hereof), nor acquire any assets for the Trust, except as provided in Article II hereofherein, nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor accept any contributions to any REMIC Pool (other than a cash contribution during the 3-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting such action) to the effect that such sale, disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any REMIC Pool as a REMIC or of the REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC III Regular Certificates or the Component Interests of the 161 Class X Certificates, other than as the Residual Certificatescase may be, as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any REMIC Pool (except pursuant to the provisions of this Agreement) or (Dd) cause any REMIC Pool to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Inc)

Prohibited Transactions and Activities. Neither Subject to the Trusteeprovisions of Article II, neither the Paying Agent, the Master Servicer Trustee nor the Special Servicer shall permit the sale, disposition or substitution of any a Mortgage Note or the substitution of the Mortgage Loans a property for a Mortgaged Property (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the REMIC I or REMIC II or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the REMIC Pool I or REMIC II in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for the Trust, except as provided in Article REMIC I or REMIC II hereof(other than REO), nor sell or dispose of any investments in the Certificate Account or Distribution Account Accounts for gain, nor accept any contributions to any the REMIC Pool I or REMIC II (other than a cash contribution during the 3-month period beginning on the Startup Dayexcept as contemplated by Section 4.2), unless it has received an a Nondisqualification Opinion of Counsel (at the expense of the Person requesting the Trustee to take such action) to the effect that such disposition, acquisition, substitution, or acceptance will not (Aa) affect adversely the status of any the REMIC Pool I or REMIC II as a REMIC or of the REMIC Certificates, other than the Residual Certificates, as the regular interests therein, (Bb) affect the distribution of interest or principal on the Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any the REMIC Pool I or REMIC II (except pursuant to the provisions of this Agreement) or (Dd) cause any the REMIC Pool I or REMIC II to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Union Residential Securitization Transactions Inc)

Prohibited Transactions and Activities. Neither The Special Servicer, on behalf of the TrusteeTrust Fund and any Companion Loan Holders, the Paying Agent, the Master Servicer nor the Special Servicer shall not permit the sale, sale or disposition or substitution of any of the Mortgage Loans Whole Loan at a time when the Whole Loan is not the subject of a breach of a representation or is not in default or default with respect thereto is not reasonably foreseeable (except in a disposition pursuant to (i) the foreclosure bankruptcy or default insolvency of a Mortgage Loan, the Lower-Tier REMIC or (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the termination of any the Lower-Tier REMIC Pool in a "qualified liquidation" as defined in Section 860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof), nor acquire any assets for either the Trust, except as provided in Article II hereofLower-Tier REMIC or the Upper-Tier REMIC (other than Foreclosed Property), nor sell or dispose of any investments in the Certificate Collection Account or Distribution Account for gain, nor receive any amount representing a fee or other compensation for services not contemplated herein, nor accept any contributions to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (other than a cash contribution during the 3three-month period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting it to take such action) to the effect that such disposition, acquisition, substitution, substitution or acceptance will not (Aa) affect adversely the status of any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC as a REMIC REMIC, or of the REMIC Certificates, other than the Residual Certificates, Certificates as the representing regular interests therein, (Bb) affect the distribution of interest or principal on the Regular Certificates, (Cc) result in the encumbrance of the assets transferred or assigned to any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC (except pursuant to the provisions of this Agreement) ), or (Dd) cause any either the Lower-Tier REMIC Pool or the Upper-Tier REMIC to be subject to a tax on "prohibited transactions" or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

Appears in 1 contract

Samples: Trust and Servicing Agreement (Bank 2020-Bnk26)

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