REMIC AND GRANTOR TRUST ADMINISTRATION. The provisions of this Article XII shall apply to each REMIC Pool and the Grantor Trust, as applicable.
REMIC AND GRANTOR TRUST ADMINISTRATION. (a) As set forth in the Preliminary Statement hereto, the Trustee shall elect REMIC status in accordance with the REMIC Provisions with respect to each of REMIC 1, REMIC 2, REMIC 3, REMIC 4 and the Upper Tier REMIC. The Trustee shall make such elections on Forms 1066 or other appropriate federal tax or information return for the taxable year ending on the last day of the calendar year in which the Certificates are issued. For the purposes of such elections, each of the REMIC 1 Regular Interests is hereby designated as a regular interest in REMIC 1. Each of the REMIC 2 Regular Interests is hereby designated as a regular interest in REMIC 2. Each of the REMIC 3 Regular Interests is hereby designated as a regular interest in REMIC 3. Each REMIC 4 Regular Interest is hereby designated as a regular interest in REMIC 4. Each REMIC 5 Regular Interest is hereby designated as a regular interest in the Upper Tier REMIC. The Class LT1-R Interest is hereby designated as the sole residual interest in REMIC 1. The Class LT2-R Interest is hereby designated as the sole residual interest in REMIC 2. The Class LT3-R Interest is hereby designated as the sole residual interest in REMIC 3. The Class LT4-R Interest is hereby designated as the sole residual interest in REMIC 4. The REMIC 5 Residual Interest is hereby designated as the sole residual interest in the Upper Tier REMIC. The Class R Certificate evidences ownership of the Class LT1-R Interest , the Class LT2-R Interest, the Class LT3-R Interest, the Class LT4-R Interest and the REMIC 5 Residual Interest. It is the intention of the parties hereto that the segregated pool of assets consisting of any collections of Prepayment Penalty Amounts with respect to Pool 1, Pool 2, Pool 4 and Pool 5 constitute a grantor trust for federal income tax purposes. The Trustee, by its execution and delivery hereof, acknowledges the assignment to it of the Grantor Trust I Assets and declares that it holds and will hold such assets in trust for the exclusive use and benefit of all present and future Holders of the Class P-I Certificates. It is the intention of the parties hereto that the segregated pool of assets consisting of any collections of Prepayment Penalty Amounts with respect to Pool 3 constitute a grantor trust for federal income tax purposes. The Trustee, by its execution and delivery hereof, acknowledges the assignment to it of the Grantor Trust II Assets and declares that it holds and will hold such assets in trust for the exc...
REMIC AND GRANTOR TRUST ADMINISTRATION. The provisions of this Article XII shall apply to each REMIC Pool.
REMIC AND GRANTOR TRUST ADMINISTRATION. Section 9.01.
REMIC AND GRANTOR TRUST ADMINISTRATION. The provisions of this Article XII shall apply to each REMIC Pool, the Class PST Grantor Trust and the Class J Grantor Trust, as applicable.
REMIC AND GRANTOR TRUST ADMINISTRATION. (a) As set forth in the Preliminary Statement hereto, REMIC status shall be elected in accordance with the REMIC Provisions with respect to each of REMIC I-1, REMIC I-2, REMIC I-3, REMIC II-1 and REMIC II-2. The Trustee shall make such elections on Forms 1066 or other appropriate federal tax or information return for the taxable year ending on the last day of the calendar year in which the Certificates are issued. For purposes of such elections, (i) each of the REMIC I-1 Interests, other than the Class LTI1-R Interest, is hereby designated as a regular interest in REMIC I-1; (ii) each of the REMIC I-2 Interests, other than the Class LTI2-R Interest, is hereby designated as a regular interest in REMIC I-2; (iii) each of the REMIC I-3 Interests, other than the Class LTI3-R Interest, is hereby designated as a regular interest in REMIC I-3; (iv) each of the REMIC II-1 Interests, other than the Class LTII1-R Interest, is hereby designated as a regular interest in REMIC II-1; and (v) each of the REMIC II-2 Interests, other than the Class LTII2-R Interest, is hereby designated as a regular interest in REMIC II-2. The Class LTI1-R Interest is hereby designated as the sole residual interest in REMIC I-1. The Class LTI2-R Interest is hereby designated as the sole residual interest in REMIC I-2. The Class LTI3-R Interest is hereby designated as the sole residual interest in REMIC I-3. The Class LTII1-R Interest is hereby designated as the sole residual interest in REMIC II-1. The Class LTII2-R Interest is hereby designated as the sole residual interest in REMIC II-2. The Class R Certificate evidences ownership of the Class LTI1-R Interest, the Class the Class LTI2-R Interest, the Class LTI3-R Interest, the Class LTII1-R Interest and the Class LTII2-R Interest. The Class P-I and Class P-II Certificates shall be neither regular interests nor residual interests in any REMIC created hereunder. It is the intention of the parties hereto that the segregated pool of assets consisting of any collections of Prepayment Penalty Amounts (i) related to the Mortgage Loans in Pool 1, Pool 2 and Pool 3, and (ii) related to the Mortgage Loans in Pool 4 each constitute a grantor trust for federal income tax purposes. The Trustee, by its execution and delivery hereof, acknowledges the assignment to it of the Grantor Trust Assets and declares that it holds and will hold such assets in trust for the exclusive use and benefit of all present and future Holders of the Class P-I (in the case ...
REMIC AND GRANTOR TRUST ADMINISTRATION. Section 12.1 REMIC Administration 374 Section 12.2 Prohibited Transactions and Activities 379 Section 12.3 Modifications of Mortgage Loans 379 Section 12.4 Liability with Respect to Certain Taxes and Loss of REMIC Status 380 Section 12.5 Class J Grantor Trust 380 Section 12.6 EC Trust 381 Section 12.7 Swap Grantor Trust 382 Section 12.8 Grantor Trust Reporting Requirements 382 ARTICLE XIII EXCHANGE ACT REPORTING AND REGULATION AB COMPLIANCE
REMIC AND GRANTOR TRUST ADMINISTRATION. Section 9.01 REMIC Administration Section 9.02 Prohibited Transactions and Activities Section 9.03 Indemnification with Respect to Certain Taxes and Loss of REMIC Status Section 9.04 REO Property Section 9.05 Grantor Trust Administration ARTICLE X
REMIC AND GRANTOR TRUST ADMINISTRATION. (a) As set forth in the Preliminary Statement hereto, REMIC status shall be elected in accordance with the REMIC Provisions with respect to each of REMIC I-1, REMIC I-2, REMIC I-3, REMIC I-4, REMIC II-1 and REMIC II-2. The Trustee shall make such elections on Forms 1066 or other appropriate federal tax or information return for the taxable year ending on the last day of the calendar year in which the Certificates are issued. For the purposes of such elections, each of the REMIC I-1 Regular Interests is hereby designated as a regular interest in REMIC I-1. Each of the REMIC I-2 Regular Interests is hereby designated as a regular interest in REMIC I-2. Each of the REMIC I-3 Regular Interests is hereby designated as a regular interest in REMIC I-3. Each of the REMIC I-4 Regular Interests is hereby designated as a regular interest in REMIC I-4. Each of the REMIC II-1 Regular Interests is hereby designated as a regular interest in REMIC II-1. Each of the REMIC II-2 Regular Interests is hereby designated as a regular interest in REMIC II-2. The Class LTI1-R Interest is hereby designated as the sole
REMIC AND GRANTOR TRUST ADMINISTRATION. (a) As set forth in the Preliminary Statement hereto, the Trustee shall elect REMIC status in accordance with the REMIC Provisions with respect to the REMIC. The Trustee shall make such elections on Forms 1066 or other appropriate federal tax or information return for the taxable year ending on the last day of the calendar year in which the Certificates are issued. For the purposes of such elections, each Class of Certificates (other than the Class R and Class P Certificates) is hereby designated as a regular interest in the REMIC. The Class R Certificate is hereby designated as the sole residual interest in the REMIC. It is the intention of the parties hereto that the segregated pool of assets consisting of any collections of Prepayment Penalty Amounts constitute a grantor trust for federal income tax purposes. The Trustee, by its execution and delivery hereof, acknowledges the assignment to it of the Grantor Trust Assets and declares that it holds and will hold such assets in trust for the exclusive use and benefit of all present and future Holders of the Class P Certificates. The rights of Holders of the Class P Certificates to receive distributions from the proceeds of the Grantor Trust Assets and all ownership interests of such Holders in and to such distributions, shall be as set forth in this Agreement.
