Common use of Federal Information Returns and Reports to Clause in Contracts

Federal Information Returns and Reports to. Certificateholders. (a) For federal income tax purposes, the taxable year ------------------ of the Trust Fund shall be a calendar year and the Master Servicer shall maintain or cause the maintenance of books of the Trust Fund on the accrual method of accounting. The books of the Trust Fund shall reflect all payments made with respect to the Mortgage Loans, and amounts attributable to the Class A Certificateholders, the Class B Certificateholders and the Class R Certificateholders. (b) The Master Servicer shall prepare and file or cause to be filed with the Internal Revenue Service at the times and in the manner required by the Code or applicable Treasury Regulations all Federal tax or information returns with respect to the Trust Fund and the Certificates, which tax or information returns contain such information as may be required by the Code or applicable Treasury Regulations. The Master Servicer also shall furnish to Holders of Certificates such statements or information at the times and in the manner as the Code or applicable Treasury Regulations may require such holders to be furnished, regardless of by whom. For this purpose, the Master Servicer may, but need not, rely on any proposed regulations of the United States Department of the Treasury. The Master Servicer shall indicate the election to treat the Trust Fund (exclusive of the Mortgage 100(Service ▇▇▇▇) Pledge Agreements, the Parent Power(Registered Trademark) Agreements and the Pre-Funding Account (including the funds therein and Pre-Funding Earnings)) as a REMIC in such manner as the Code or applicable Treasury regulations may prescribe. The Trustee shall sign all required tax or information returns, and the Master Servicer shall indemnify the Trustee for executing such tax or information returns to the extent such returns contain errors or omissions. The initial Class R Certificateholder is hereby designated as the initial "tax matters person" (within the meaning of Temp. Treas.

Federal Information Returns and Reports to. Certificateholders. (a) For federal income tax purposes, the taxable year ------------------ of the Trust Fund shall be a calendar year and the Master Servicer shall maintain or cause the maintenance of books of the Trust Fund on the accrual method of accounting. The books of the Trust Fund shall reflect all payments made with respect to the Mortgage Loans, and amounts attributable to the Class A Certificateholders, the Class B Certificateholders and the Class R Certificateholders. (b) The Master Servicer shall prepare and file or cause to be filed with the Internal Revenue Service at the times and in the manner required by the Code or applicable Treasury Regulations all Federal tax or information returns with respect to the Trust Fund and the Certificates, which tax or information returns contain such information as may be required by the Code or applicable Treasury Regulations. The Master Servicer also shall furnish to Holders of Certificates such statements or information at the times and in the manner as the Code or applicable Treasury Regulations may require such holders to be furnished, regardless of by whom. For this purpose, the Master Servicer may, but need not, rely on any proposed regulations of the United States Department of the Treasury. The Master Servicer shall indicate the election to treat the Trust Fund (exclusive of the Mortgage 100(Service ▇▇▇▇) 100 Pledge Agreements, the Parent Power(Registered Trademark) Agreements and the Pre-Funding Account (including the funds therein and Pre-Funding Earnings)Parent Power Agreements) as a REMIC in such manner as the Code or applicable Treasury regulations may prescribe. The Trustee shall sign all required tax or information returns, and the Master Servicer shall indemnify the Trustee for executing such tax or information returns to the extent such returns contain errors or omissions. The initial Class R Certificateholder is hereby designated as the initial "tax matters person" (within the meaning of Temp. Treas.

Federal Information Returns and Reports to. Certificateholders. (a) For federal Federal income tax purposes, the taxable year ------------------ of the Trust Fund ------------------ REMIC shall be a calendar year and the Master Servicer Trustee shall maintain or cause the maintenance of the books of the Trust Fund REMIC Assets on the accrual method of accounting. The books of the Trust Fund shall reflect all payments made with respect to the Mortgage Loans, and amounts attributable to the Class A Certificateholders, the Class B Certificateholders and the Class R Certificateholders. (b) The Master Servicer Trustee shall prepare and file or cause to be filed with the Internal Revenue Service Federal tax information returns with respect to the REMIC, the Trust Fund, if applicable, and the Certificates containing such information and at the times and in the manner required by the Code or applicable Treasury Regulations all Federal tax or information returns with respect to the Trust Fund and the Certificates, which tax or information returns contain such information as may be required by the Code or applicable Treasury Regulations. The Master Servicer also regulations, and shall furnish to Holders each Holder of Certificates at any time during the calendar year for which such returns or reports are made such statements or information at the times and in the manner as may be required thereby. In connection with the Code or applicable Treasury Regulations may require such holders foregoing, the Trustee shall provide the name and address of the person who can be contacted to obtain information required to be furnished, regardless reported to the holders of regular interests in the REMIC (the "REMIC Reporting Agent") as required by whom. For this purpose, the Master Servicer may, but need not, rely on any proposed regulations of the United States Department of the TreasuryIRS Form 8811. The Master Servicer Trustee shall indicate make the election elections to treat the Trust Fund (exclusive of the Mortgage 100(Service ▇▇▇▇) Pledge Agreements, the Parent Power(Registered Trademark) Agreements and the Pre-Funding Account (including the funds therein and Pre-Funding Earnings)) REMIC as a REMIC (which election shall apply to the taxable period ending December 31, 1997 and each calendar year thereafter) in such manner as the Code or applicable Treasury regulations may prescribe. The Trustee shall sign all tax information returns filed pursuant to this Section and any other returns as may be required tax or information returnsby the Code, and in doing so shall rely entirely upon, and shall have no liability for information provided by, or calculations provided by, the Seller or the Master Servicer shall indemnify the Trustee for executing such tax or information returns to the extent such returns contain errors or omissionsServicer. The initial Class R Certificateholder Trustee is hereby designated as the initial "tax matters personTax Matters Person" (within the meaning of TempTreas. Treas.Reg. Section 1.860F-4(d))

Federal Information Returns and Reports to. Certificateholders. (a) For federal Federal income tax purposes, the taxable year ------------------ of the Trust Fund each of REMIC I and REMIC II shall be a calendar year and the Master Servicer Trustee shall maintain or cause the maintenance of the books of the Trust Fund each of REMIC I and REMIC II Assets on the accrual method of accounting. The books of the Trust Fund shall reflect all payments made with respect to the Mortgage Loans, and amounts attributable to the Class A Certificateholders, the Class B Certificateholders and the Class R Certificateholders. (b) The Master Servicer Trustee shall prepare and file or cause to be filed with the Internal Revenue Service Federal tax information returns with respect to each of REMIC I and REMIC II, the Trust Fund, if applicable, and the Certificates containing such information and at the times and in the manner required by the Code or applicable Treasury Regulations all Federal tax or information returns with respect to the Trust Fund and the Certificates, which tax or information returns contain such information as may be required by the Code or applicable Treasury Regulations. The Master Servicer also regulations, and shall furnish to Holders each Holder of Certificates at any time during the calendar year for which such returns or reports are made such statements or information at the times and in the manner as may be required thereby. In connection with the Code or applicable Treasury Regulations may require such holders foregoing, the Trustee shall provide the name and address of the person who can be contacted to obtain information required to be furnished, regardless reported to the holders of regular interests in each of REMIC I and REMIC II (the "REMIC Reporting Agent") as required by whom. For this purpose, the Master Servicer may, but need not, rely on any proposed regulations of the United States Department of the TreasuryIRS Form 8811. The Master Servicer Trustee shall indicate make the election elections to treat the Trust Fund (exclusive each of the Mortgage 100(Service ▇▇▇▇) Pledge Agreements, the Parent Power(Registered Trademark) Agreements REMIC I and the Pre-Funding Account (including the funds therein and Pre-Funding Earnings)) REMIC II as a REMIC (which election shall apply to the taxable period ending December 31, 1997 and each calendar year thereafter) in such manner as the Code or applicable Treasury regulations may prescribe. The Trustee shall sign all tax information returns filed pursuant to this Section and any other returns as may be required tax or information returnsby the Code, and in doing so shall rely entirely upon, and shall have no liability for information provided by, or calculations provided by, the Seller or the Master Servicer shall indemnify the Trustee for executing such tax or information returns to the extent such returns contain errors or omissionsServicer. The initial Class R Certificateholder Trustee is hereby designated as the initial "tax matters personTax Matters Person" (within the meaning of TempTreas. TreasReg. Section 1.860F-4(d)) for each of REMIC I and REMIC II Any Holder of a Residual Certificate will by acceptance thereof appoint the Trustee as agent and attorney-in-fact for the purpose of acting as Tax Matters Person for each of REMIC I and REMIC II during such time as the Trustee does not own any such Residual Certificate. In the event that the Code or applicable Treasury regulations prohibit the Trustee from signing tax or information returns or other statements, or the Trustee from acting as Tax Matters Person (as an agent or otherwise), the Trustee shall take whatever action that in its sole good faith judgment is necessary for the proper filing of such information returns or for the provision of a tax matters person, including designation of the Holder of a Residual Certificate to sign such returns or act as tax matters person. Each Holder of a Residual Certificate shall be bound by this Section. (c) The Trustee shall provide upon request such information (which shall be provided by the Master Servicer) as required in Section 860D(a)(6)(B) of the Code to the Internal Revenue Service, to any Person purporting to transfer a Residual Certificate to a Person other than a transferee permitted by Section 5.05(b), and to any regulated investment company, real estate investment trust, common trust fund, partnership, trust, estate, organization described in Section 1381 of the Code, or nominee holding an interest in a pass-through entity described in Section 860E(e)(6) of the Code, any record holder of which is not a transferee permitted by Section 5.05(b) (or which is deemed by statute to be an entity with a disqualified member). (d) The Trustee shall prepare and file or cause to be filed any state income tax returns required with respect to each of REMIC I and REMIC II or the Trust Fund.