REMIC Administrator Clause Samples
The REMIC Administrator clause designates the party responsible for managing the administrative duties of a Real Estate Mortgage Investment Conduit (REMIC). This typically includes tasks such as preparing and filing required tax returns, maintaining records, and ensuring compliance with REMIC regulations. By clearly assigning these responsibilities, the clause ensures that the REMIC maintains its tax-advantaged status and operates in accordance with applicable laws, thereby reducing the risk of non-compliance and associated penalties.
REMIC Administrator. Residential Funding Corporation. If Residential Funding Corporation is found by a court of competent jurisdiction to no longer be able to fulfill its obligations as REMIC Administrator under this Agreement the Master Servicer or Trustee acting as Master Servicer shall appoint a successor REMIC Administrator, subject to assumption of the REMIC Administrator obligations under this Agreement.
REMIC Administrator. The Trustee; provided that if the REMIC Administrator is found by a court of competent jurisdiction to no longer be able to fulfill its obligations as REMIC Administrator under this Agreement the Servicer or Trustee acting as Servicer shall appoint a successor REMIC Administrator, subject to assumption of the REMIC Administrator obligations under this Agreement.
REMIC Administrator. [__________________________]. If [__________________________] is found by a court of competent jurisdiction to no longer be able to fulfill its obligations as REMIC Administrator under this Agreement the Master Servicer or Trustee acting as successor Master Servicer shall appoint a successor REMIC Administrator, subject to assumption of the REMIC Administrator obligations under this Agreement.
REMIC Administrator. Bankers Trust Company of California, N.A., or any successor REMIC Administrator. If Bankers Trust Company of California, N.A. or any successor REMIC Administrator is found by a court of competent jurisdiction to no longer be able to fulfill its obligations as REMIC Administrator under this Agreement, the Depositor shall appoint a successor REMIC Administrator, subject to assumption of the REMIC Administrator obligations under this Agreement.
REMIC Administrator. Residential Funding Corporation. If Residential Funding Corporation is found by a court of competent jurisdiction to no longer be able to fulfill its obligations as REMIC Administrator under this Agreement the Master Servicer or Trustee acting as successor master servicer shall appoint a successor REMIC Administrator, subject to assumption of the REMIC Administrator obligations under this Agreement. REMIC I: The segregated pool of assets subject hereto (exclusive of the Yield Maintenance Agreement and any payments thereunder, which are not assets of any REMIC), constituting a portion of the primary trust created hereby and to be administered hereunder, with respect to which a separate REMIC election is to be made, consisting of: (i) the Mortgage Loans and the related Mortgage Files; (ii) all payments on and collections in respect of the Mortgage Loans due after the Cut-off Date (other than Monthly Payments due in the month of the Cut-off Date) as shall be on deposit in the Custodial Account or in the Certificate Account and identified as belonging to the Trust Fund; (iii) property which secured a Mortgage Loan and which has been acquired for the benefit of the Certificateholders by foreclosure or deed in lieu of foreclosure; (iv) the hazard insurance policies and Primary Insurance Policies pertaining to the Mortgage Loans, if any; and (v) all proceeds of clauses (i) through (iv) above.
REMIC Administrator. ▇▇▇▇▇ Fargo Bank Minnesota, N.
REMIC Administrator. 48 REMIC I Regular Interest LT-A-1..............................................49 REMIC I Regular Interest LT-A-2..............................................49 REMIC I Regular Interest LT-A-3..............................................49 REMIC I Regular Interest LT-A-4..............................................49 REMIC I Regular Interest LT-A-5..............................................49 REMIC I Regular Interest LT-A-6..............................................49 REMIC I Regular Interest LT-A-7..............................................50
REMIC Administrator. 50 REMIC I Regular Interest LT-A-1..............................................51 REMIC I Regular Interest LT-A-2..............................................51 REMIC I Regular Interest LT-A-3..............................................51 REMIC I Regular Interest LT-A-4..............................................51 REMIC I Regular Interest LT-A-5..............................................51 REMIC I Regular Interest LT-A-6..............................................51 REMIC I Regular Interest LT-A-7..............................................51 REMIC I Regular Interest LT-A-8..............................................51 REMIC I Regular Interest LT-A-9..............................................51 REMIC I Regular Interest LT-A-10.............................................52 REMIC I Regular Interest LT-A-11.............................................52 REMIC I Regular Interest LT-A-12.............................................52 REMIC I Regular Interest LT-A-13.............................................52 REMIC I Regular Interest LT-A-14.............................................52 REMIC I Regular Interest LT-A-15.............................................52 REMIC I Regular Interest LT-A-16.............................................52 REMIC I Regular Interest LT-A-17.............................................52 REMIC I Regular Interest LT-A-18.............................................52 REMIC I Regular Interest LT-A-19.............................................53 REMIC I Regular Interest LT-A-20.............................................53 REMIC I Regular Interest LT-A-21.............................................53 REMIC I Regular Interest LT-A-22.............................................53 REMIC I Regular Interest LT-A-23.............................................53 REMIC I Regular Interest LT-A-24.............................................53 REMIC I Regular Interest LT-A-25.............................................53 REMIC I Regular Interest LT-A-26.............................................53 REMIC I Regular Interest LT-A-27.............................................53 REMIC I Regular Interest LT-A-28.............................................54 REMIC I Regular Interest LT-A-29.............................................54 REMIC I Regular Interest LT-A-30.............................................54 REMIC I Regular Interest LT-A-31.............................................54
REMIC Administrator. Residential Funding Company, LLC. If Residential Funding Company, LLC is found by a court of competent jurisdiction to no longer be able to fulfill its obligations as REMIC Administrator under this Agreement the Master Servicer or Trustee acting as successor Master Servicer shall appoint a successor REMIC Administrator, subject to assumption of the REMIC Administrator obligations under this Agreement REMIC I: The segregated pool of assets subject hereto (exclusive of the Supplemental Interest Trust Account, the Swap Agreement and the SB-A Swap Agreement), constituting a portion of the primary trust created hereby and to be administered hereunder, with respect to which a separate REMIC election is to be made, consisting of:
REMIC Administrator. Residential Funding Corporation. If Residential Funding Corporation is found by a court of competent jurisdiction to no longer be able to fulfill its obligations as REMIC Administrator under this Agreement the Master Servicer or Trustee acting as successor Master Servicer shall appoint a successor REMIC Administrator, subject to assumption of the REMIC Administrator obligations under this Agreement. [REMIC I: The segregated pool of assets subject hereto, constituting a portion of the primary trust created hereby and to be administered hereunder, exclusive of the Hedge Agreement, which are not assets of any REMIC, with respect to which a separate REMIC election is to be made, consisting of: