Miscellaneous REMIC and Grantor Trust Provisions Sample Clauses
Miscellaneous REMIC and Grantor Trust Provisions. (a) The Class ▇▇-▇, ▇▇▇▇▇ ▇▇-▇, Class LA-3, Class LA-4, Class LA-AB, Class LA-S, Class LB, Class LC, Class LD, Class LE, Class LF, Class LG, Class LH, Class ▇▇-▇▇ and Class ▇▇-▇▇ Lower-Tier Regular Interests are hereby designated as “regular interests” in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(1), and the Lower-Tier Residual Interest (evidenced by the Class R Certificates) is hereby designated as the sole class of “residual interests” in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(2). The Class L805A, Class L805B, Class L805C, Class L805D and Class L805H ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ Regular Interests are hereby designated as “regular interests” in the ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ REMIC within the meaning of Code Section 860G(a)(1), and the ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ Residual Interest (evidenced by the Class R Certificates) is hereby designated as the sole class of “residual interests” in the ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ REMIC within the meaning of Code Section 860G(a)(2).
(b) The Pooled Regular Certificates and the Loan-Specific Certificates are hereby designated as “regular interests” in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(1), and the Upper-Tier Residual Interest (evidenced by the Class R Certificates) is hereby designated as the sole class of “residual interests” in the Upper-Tier REMIC within the meaning of Code Section 860G(a)(2).
(c) The Closing Date is hereby designated as the “Startup Day” of each Trust REMIC. The “latest possible maturity date” for purposes of Code Section 860G(a)(1) of (i) the ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ Regular Interests and the Loan-Specific Certificates is the Rated Final Distribution Date for the rated Loan-Specific Certificates; and (ii) the Lower-Tier Regular Interests and the Pooled Regular Certificates is the Rated Final Distribution Date for the rated Pooled Certificates.
(d) None of the Depositor, the Trustee, the Master Servicer, the Special Servicer, the Operating Advisor or the Certificate Administrator shall enter into any arrangement by which the Trust Fund will receive a fee or other compensation for services other than as specifically contemplated herein.
(e) The Class S Certificates shall represent undivided beneficial interests in the portion of the Trust Fund consisting of the Class S Specific Grantor Trust Assets, distributions thereon and proceeds thereof, which portion will be treated as part of a “grantor trust” within the meaning of subpart E, part I of subchapter J of the Code.
Miscellaneous REMIC and Grantor Trust Provisions. (a) The Class A-1A-L, Class A-1B-L, Class A-1C-L, Class A-1D-L, Class A-1E-L, Class A-2-L, Class A-3-L, Class A-4-L, Class A-5-L, Class A-6-L, Class A-7-L, Class A-8Z-L, Class B-1-L, Class B-2-L, Class B-3-L, Class B-3SC-L, Class B-4-L, Class B-5-L, Class B-6-L, Class B-7-L and Class B-7H-L Interests are hereby designated as "regular interests" in the Lower-Tier REMIC within the meaning of Section 860G(a)(1) of the Code, and the Class LR Certificates are hereby designated as the sole Class of "residual interests" in the Lower-Tier REMIC within the meaning of Section 860G(a)(2) of the Code. The Class A-1A, Class A-1B, Class A-1C, Class A-1D, Class A-1E, Class A-CS1, Class PS-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8Z, Class B-1, Class B-2, Class B-3, Class B-3SC, Class B-4, Class B-5, Class B-6, Class B-7 and Class B-7H Certificates are hereby designated as "regular interests" in the Upper-Tier REMIC within the meaning of Section 860G(a)(1) of the Code and the Class R Certificates are hereby designated as the sole Class of "residual interests" in the Upper-Tier REMIC within the meaning of Section 860G(a)(2) of the Code. The Class A-CS1 Certificates represent a "specified portion" of the interest payments on the Class A-1A-L Interest within the meaning of Treasury Regulations Section 1.860G-1(a)(2). The Class PS-1 Certificateholders represent a "specified portion" of the interest payments on the Class A-1A-L, the Class A-1B-L, the Class A-1C-L, the Class A-1D-L, the Class A-1E-L, Class A-2-L, Class A-3-L, Class A-4-L, Class A-5-L, Class A-6-L, Class A-7-L, Class B-1-L, Class B-2-L, Class B-3-L, Class B-4-L, Class B-5-L, Class B-6-L, Class B-7-L and Class B-7H-L Interests, within the meaning of Treasury Regulations Section 1.860G-1(a)(2). The Closing Date is hereby designated as the "Startup Day" of the Lower-Tier REMIC and the Upper-Tier REMIC within the meaning of Section 860G(a)(9) of the Code. The "latest possible maturity date" of the Lower-Tier Regular Interests and the Regular Certificates for purposes of Section 860G(a)(1) of the Code is the Scheduled Final Distribution Date. The initial Certificate Balance of each Class of the Lower-Tier Regular Interests is equal to the Certificate Balance of the Related Certificates. The interest rate for each Class of Lower-Tier Regular Interests (other than the Class A-8Z-L Interest and the Class B-3SC-L Interest) is a per annum rate equal to the Weighted Average Net Mortgage ...
Miscellaneous REMIC and Grantor Trust Provisions. (a) The Lower-Tier Regular Interests issued hereunder are hereby designated as the "regular interests" in the Lower-Tier REMIC within the meaning of Section 860G(a)(1) of the Code, and the Class LR Certificates are hereby designated as representing the sole class of "residual interests" in the Lower-Tier REMIC within the meaning of Section 860G(a)(2) of the Code. The Regular Certificates are hereby designated as "regular interests" in the Upper-Tier REMIC within the meaning of Section 860G(a)(1) of the Code and the Class R Certificates are hereby designated as the sole Class of "residual interests" in the Upper-Tier REMIC within the meaning of Section 860G(a)(2) of the Code. The Closing Date is hereby designated as the "Startup Day" of the Lower-Tier REMIC and the Upper-Tier REMIC within the meaning of Section 860G(a)(9) of the Code. The "latest possible maturity date" of the Lower-Tier Regular Interests and the Regular Certificates for purposes of Section 860G(a)(l) of the Code is the Rated Final Distribution Date.
(b) None of the Depositor, the Trustee, the Master Servicer or the Special Servicer shall enter into any arrangement by which the Trust Fund will receive a fee or other compensation for services other than as specifically contemplated herein.
(c) The assets of the Grantor Trust consisting of the right to any Excess Interest shall be held by the Trustee for the benefit of the Holders of the Class S Certificates, which Class S Certificates will evidence 100% beneficial ownership of such assets from and after the Closing Date.
Miscellaneous REMIC and Grantor Trust Provisions. Section 2.07 Year 2000 Readiness..........................................
Miscellaneous REMIC and Grantor Trust Provisions. Section 2.07 Year 2000 Readiness..........................................