Common use of Information Required by the Internal Clause in Contracts

Information Required by the Internal. Revenue Service ----------------------------------------------------- Generally and Reports of Foreclosures and Abandonments of Mortgaged Property. ---------------------------------------------------------------------------- The Master Servicer shall prepare and deliver all federal and state information reports when and as required by all applicable state and federal income tax laws. In particular, with respect to the requirement under Section 6050J of the Code to the effect that the Master Servicer shall make reports of foreclosures and abandonments of any mortgaged property for each year beginning in 1997, the Master Servicer shall file reports relating to each instance occurring during the previous calendar year in which the Master Servicer (i) on behalf of the Trustee acquires an interest in any Mortgaged Property through foreclosure or other comparable conversion in full or partial satisfaction of a Mortgage Loan, or (ii) knows or has reason to know that any Mortgaged Property has been abandoned. The reports from the Master Servicer shall be in form and substance sufficient to meet the reporting requirements imposed by Section 6050J.

Information Required by the Internal. Revenue Service ----------------------------------------------------- ---------------------------------------------------- Generally and Reports of Foreclosures and Abandonments of Mortgaged Property. ---------------------------------------------------------------------------- The Master Servicer shall prepare and deliver all federal and state information reports when and as required by all applicable state and federal income tax laws. In particular, with respect to the requirement under Section 6050J of the Code to the effect that the Master Servicer shall make reports of foreclosures and abandonments of any mortgaged property for each year beginning in 19971999, the Master Servicer shall file reports relating to each instance occurring during the previous calendar year in which the Master Servicer (i) on behalf of the Indenture Trustee acquires an interest in any Mortgaged Property through foreclosure or other comparable conversion in full or partial satisfaction of a Mortgage Loan, or (ii) knows or has reason to know that any Mortgaged Property has been abandoned. The reports from the Master Servicer shall be in form and substance sufficient to meet the reporting requirements imposed by Section 6050J.