FASIT Matters Clause Samples

The 'FASIT Matters' clause addresses issues related to Financial Asset Securitization Investment Trusts (FASITs) within a contract. It typically outlines the parties' obligations and representations concerning the creation, operation, or compliance of FASITs, such as ensuring that the trust meets all legal and tax requirements. This clause is essential for clarifying responsibilities and mitigating risks associated with the use of FASITs in structured finance transactions, thereby ensuring regulatory compliance and protecting the interests of all parties involved.
FASIT Matters. An election has been made to treat the Trust Estate as a FASIT known as the RFS FASIT. December 30, 2002 was designated as the “Startup Day” of the RFS FASIT within the meaning of section 860L(d)(1) of the Code. The Ownership Interest was designated as the single class of “ownership interest” (within the meaning of section 860L(b)(2) of the Code) in the RFS FASIT. Notwithstanding any provision of the Indenture or this Indenture Supplement to the contrary, each class of Series 2005-2 Regular Interests shall mature on or before December 1, 2020.
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Related to FASIT Matters

  • UCC Matters Such Seller shall not change its state of organization or incorporation or its name, identity or corporate structure such that any financing statement filed to perfect the Purchaser’s interests under this Agreement would become seriously misleading, unless such Seller shall have given the Purchaser not less than thirty (30) days’ prior written notice of such change.

  • Litigation Matters If the FDIC Party and the Assuming Institution do not agree to submit the Dispute Item to arbitration, the Dispute Item may be resolved by litigation in accordance with Federal or state law, as provided in Section 13.10 of the Purchase and Assumption Agreement. Any litigation shall be filed in a United States District Court in the proper district.

  • Patent Matters 4.1 Licensor shall have the right, but not the obligation, to prosecute and maintain all Patents to be issued pertaining to the Patent applications licensed in Exhibit A at its cost and expense. Licensor shall keep licensee reasonably apprised of all relevant actions regarding the status of such patents. 4.2 Each Party shall notify the other Party of any infringement of any intellectual property rights with regard to the License IP or a Licensed Product by a third party in the Field which becomes known to such Party, and of any claim of infringement by a third party that the activities of a Party infringe patent rights of such third party. Licensor shall have has sole responsibility and control of legal action relating to claims of infringement with respect to the Licensed Technology. 4.3 Licensor shall have the first right, but not an obligation, to initiate, maintain and control, at Licensor’s expense, legal action against any infringement of intellectual property rights relating to the Licensed Technology by a third party in the Field. 4.4 In any suit, proceeding or dispute involving infringement of any intellectual property rights relating to the License IP in the Field, the Parties shall provide each other with reasonable cooperation shall make available to each other , at reasonable times and under appropriate conditions, all relevant personnel, records, papers, information, samples, specimens, and the like in its possession.

  • Certain Litigation Matters The Owner Trustee shall provide prompt written notice to the Depositor, the Seller and the Servicer of any action, proceeding or investigation known to the Owner Trustee that could reasonably be expected to adversely affect the Trust or the Owner Trust Estate.

  • Transition Matters The Consultant shall render such ------------------ services to Purchaser as the Consultant and the President of the Purchaser (or his designee) shall mutually agree with respect to (i) Purchaser and Company business matters relating to the transition period prior to and following the Merger and (ii) integration of the business of the Company with the business of Purchaser.