Acceptance of Grantor Sample Clauses

Acceptance of Grantor. Trust Assets by Trustee; Issuance of the Class V Certificates. (a) It is the intention of the parties hereto that the segregated pool of assets consisting of any collections of Additional Interest Received by the Trust on or with respect to the ARD Trust Mortgage Loans, if any, and any successor REO Trust Mortgage Loans with respect thereto 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, if any, and declares that it holds and will hold any such assets in trust for the exclusive use and benefit of all present and future Holders of the Class V Certificates. Concurrently with the assignment to it of the Grantor Trust Assets, subject to Section 2.05(b), the Certificate Registrar shall execute, and the Authenticating Agent shall authenticate and deliver, to or upon the order of the Depositor, the Class V Certificates in authorized denominations evidencing, in the aggregate, the entire beneficial ownership of the Grantor Trust. Subject to Section 2.05(b): (i) the Class V Certificates shall evidence the entire beneficial ownership of the Grantor Trust; and (ii) the rights of Holders of the Class V 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. (b) Notwithstanding Section 2.05(a) or anything else to the contrary set forth in this Agreement, if the Mortgage Pool does not, on the Closing Date, include any ARD Trust Mortgage Loans, then: (i) there shall be no Grantor Trust; (ii) no Class V Certificates shall be issued; (iii) insofar as, but only insofar as, the provisions of this Agreement specifically relate to the Grantor Trust, Grantor Trust Assets, Class V Certificates, the Class V Sub-Account, ARD Mortgage Loans, ARD Trust Mortgage Loan and/or Additional Interest, such provisions (other than this Section 2.05(b), the definitions of such terms set forth in Section 1.01 and Schedule VII annexed hereto) shall, without otherwise affecting the enforceability or validity of this Agreement with respect to any other matters, be of no force and effect; and (iv) the parties hereto shall have no rights or obligations with respect to the Grantor Trust, Grantor Trust Assets, Class V Certificates, the Class V Sub-Account, ARD Mortgage Loans, ARD Trust Mortgage Loans and/or Additional Interest.
View SourceView Similar (12)
Acceptance of Grantor. Trust Assets and the Loss of Value Reserve Fund by Trustee; Issuance of the Class V Certificates...............................131 SECTION 2.06. Acceptance of Loan REMICs by Trustee; Execution, Authentication and Delivery of Class R-LR Certificates; Creation of Loan REMIC Regular Interests........132 SECTION 2.07. Conveyance of Loan REMIC Regular Interests.....................................132 SECTION 2.08. Execution, Authentication and Delivery of Class R-I Certificates; Creation of REMIC I Regular Interests................................................133 SECTION 2.09. Conveyance of REMIC I Regular Interests; Acceptance of REMIC II by Trustee.....133 SECTION 2.10. Execution, Authentication and Delivery of Class R-II Certificates; Creation of REMIC II Regular Interests...............................................133 SECTION 2.11. Conveyance of REMIC II Regular Interests; Acceptance of REMIC III by Trustee...133 SECTION 2.12. Execution, Authentication and Delivery of REMIC III Certificates...............134 ARTICLE III ADMINISTRATION AND SERVICING OF THE TRUST FUND
View SourceView Similar (2)
Acceptance of Grantor. Trust Assets and the Loss of Value Reserve Fund by Trustee; Issuance of the Class V Certificates................................................................111 SECTION 2.06. Acceptance of Loan REMICs by Trustee; Execution, Authentication and Delivery of Class R-LR Certificates; Creation of Loan REMIC Regular Interests................................112 SECTION 2.07. Conveyance of Loan REMIC Regular Interests...................................................112 SECTION 2.08. Execution, Authentication and Delivery of Class R-I Certificates; Creation of REMIC I Regular Interests..........................................................................113 SECTION 2.09. Conveyance of REMIC I Regular Interests; Acceptance of REMIC II by Trustee...................113 SECTION 2.10. Execution, Authentication and Delivery of Class R-II Certificates; Creation of REMIC II Regular Interests..........................................................................113 SECTION 2.11. Conveyance of REMIC II Regular Interests; Acceptance of REMIC III by Trustee.................113 SECTION 2.12. Execution, Authentication and Delivery of REMIC III Certificates.............................114 ARTICLE III ADMINISTRATION AND SERVICING OF THE TRUST FUND SECTION 3.01. Administration of the Mortgage Loans.........................................................115 SECTION 3.02. Collection of Mortgage Loan Payments.........................................................117 SECTION 3.03. Collection of Taxes, Assessments and Similar Items; Servicing Accounts; Reserve Accounts.....119
View Source

Related to Acceptance of Grantor

  • Acceptance of Rent 7.1 Acceptance of Rent by the Landlord or the Landlord’s Agent shall be at all times without prejudice to and shall not be a waiver of the rights and remedies of the Landlord in respect of any breach of the Tenant’s agreements of stipulations contained in this Agreement; and any Rent paid by any third party will be accepted from that person as the agent of the Tenant only and will not confer on the third party any rights as the Tenant.

  • Acceptance of Award The Grantee shall have no rights with respect to this Award unless he or she shall have accepted this Award prior to the close of business on the Final Acceptance Date specified above by signing and delivering to the Company a copy of this Award Agreement.

  • ACCEPTANCE OF GOODS Under no circumstances shall UNDP be required to accept any Goods that do not conform to the specifications or requirements of the Contract. UNDP may condition its acceptance of the Goods upon the successful completion of acceptance tests as may be specified in the Contract or otherwise agreed in writing by the Parties. In no case shall UNDP be obligated to accept any Goods unless and until UNDP has had a reasonable opportunity to inspect the Goods following delivery. If the Contract specifies that UNDP shall provide a written acceptance of the Goods, the Goods shall not be deemed accepted unless and until UNDP in fact provides such written acceptance. In no case shall payment by UNDP in and of itself constitute acceptance of the Goods.

  • Acceptance of AAU You will have accepted an AAU for an Offering if: (a) we receive your acceptance, prior to the time specified in the Invitation Wire for such Offering, by wire, telex, telecopy or electronic data transmission, or other written communication (any such communication being deemed “In Writing”) or orally (if promptly confirmed In Writing), in the manner specified in the Invitation Wire, of our invitation to participate in the Offering, or (b) notwithstanding that we did not send you an Invitation Wire or you have not otherwise responded In Writing to any such Wire, you: (i) agree (orally or by a Wire) to be named as an Underwriter in the relevant Underwriting Agreement executed by us as Manager, or (ii) receive and retain an economic benefit for participating in the Offering as an Underwriter. Your acceptance of the invitation to participate will cause such AAU to constitute a valid and binding contract between us. Your acceptance of the AAU as provided above or an Invitation Wire will also constitute acceptance by you of the terms of subsequent Wires to you relating to the Offering unless we receive In Writing, within the time and in the manner specified in such subsequent Wire, a notice from you to the effect that you do not accept the terms of such subsequent Wire, in which case you will be deemed to have elected not to participate in the Offering.

  • Acceptance of Engagement The successor Servicer will accept its engagement by assuming the Servicer’s obligations under this Agreement or entering into an amendment to this Agreement or a new servicing agreement on substantially the same terms as this Agreement, in a form acceptable to the Owner Trustee and the Indenture Trustee. The successor Servicer will deliver a copy of the assumption, amendment or new servicing agreement to the other parties and the Indenture Trustee. The successor Servicer will accept its engagement as Administrator according to Section 3.5 of the Administration Agreement. Promptly following a successor Servicer’s acceptance of its engagement, the Indenture Trustee will notify the Issuer, the Owner Trustee and the Secured Parties of the engagement. On receipt of a notice of engagement, the Issuer will promptly notify the Rating Agencies and the Asset Representations Reviewer and the Owner Trustee will promptly notify the holder of the Residual Interest.