REMIC AND GRANTOR TRUST ADMINISTRATION Sample Clauses

REMIC AND GRANTOR TRUST ADMINISTRATION. (a) As set forth in the Preliminary Statement hereto, REMIC status shall be elected in accordance with the REMIC Provisions with respect to each of REMIC 1, REMIC 2 and the Upper Tier REMIC. The Trustee shall make such elections on Forms 1066 or other appropriate federal tax or information return for the taxable year ending on the last day of the calendar year in which the Certificates are issued. For the purposes of such elections, each of the REMIC 1 Regular Interests is hereby designated as a regular interest in REMIC 1. Each of the REMIC 2 Regular Interests is hereby designated as a regular interest in REMIC 2. Each of the REMIC 3 Regular Interests is hereby designated as a regular interest in the Upper Tier REMIC. The Class LT1-R Interest is hereby designated as the sole residual interest in REMIC 1. The Class LT2-R Interest is hereby designated as the sole residual interest in REMIC 2. The REMIC 3 Residual Interest is hereby designated as the sole residual interest in the Upper Tier REMIC. The Class R Certificate evidences ownership of the Class LT1-R Interest, the Class LT2-R Interest and the REMIC 3 Residual Interest. It is the intention of the parties hereto that the segregated pool of assets consisting of any collections of Prepayment Penalty Amounts with respect to Pool 1, Pool 2, Pool 3, Pool 4, Pool 5 and Pool 6 constitute a grantor trust for federal income tax purposes. The Trustee, by its execution and delivery hereof, acknowledges the assignment to it of the Grantor Trust I Assets and declares that it holds and will hold such assets in trust for the exclusive use and benefit of all present and future Holders of the Class P Certificates. The rights of Holders of the Class P Certificates to receive distributions from the proceeds of the Grantor Trust I Assets and all ownership interests of such Holders in and to such distributions, shall be as set forth in this Agreement. (b) The Closing Date is hereby designated as the "Startup Day" of each REMIC within the meaning of section 860G(a)(9) of the Code. The latest possible maturity date for purposes of Treasury Regulation 1.860G-1(a)(4) is the "Latest Possible Maturity Date". (c) The Securities Administrator shall pay any and all tax related expenses (not including taxes) of each REMIC and each Grantor Trust, including but not limited to any professional fees or expenses related to audits or any administrative or judicial proceedings with respect to such REMIC or such Grantor Trust that involve ...

REMIC AND GRANTOR TRUST ADMINISTRATION. The provisions of this Article XII shall apply to each REMIC Pool.

REMIC AND GRANTOR TRUST ADMINISTRATION. The provisions of this Article XII shall apply to each REMIC Pool, the Class PST Grantor Trust and the Class J Grantor Trust, as applicable.

REMIC AND GRANTOR TRUST ADMINISTRATION. The provisions of this Article XII shall apply to each REMIC Pool, the Class A-2FL Grantor Trust, the Class A-MFL Grantor Trust, the Class A-JFL Grantor Trust and the Excess Interest Grantor Trust, as applicable.

REMIC AND GRANTOR TRUST ADMINISTRATION. Section 9.01.

REMIC AND GRANTOR TRUST ADMINISTRATION. (a) REMIC elections for each REMIC created hereunder as set forth in the Preliminary Statement and this Section 10.01 shall be made on Forms 1066 or other appropriate federal tax or information return for the taxable year ending on the last day of the calendar year in which the Certificates are issued. For purposes of such elections, (i) each of the SWAP REMIC Regular Interests is hereby designated as a regular interest in the SWAP REMIC; (ii) each of the REMIC I-1 Regular Interests is hereby designated as a regular interest in REMIC I-1; (iii) each of the REMIC I-2 Regular Interests is hereby designated as a regular interest in REMIC I-2; (iv) each of the REMIC I-3 Regular Interests is hereby designated as a regular interest in REMIC I-3; (v) each of the REMIC II-1 Regular Interests is hereby designated as a regular interest in REMIC II-1; (vi) each of the REMIC II-2 Regular Interests is hereby designated as a regular interest in REMIC II-2; (vii), each of the REMIC II-3 Regular Interests is hereby designated as a regular interest in REMIC II-3; (viii) each of the REMIC III-1 Regular Interests is hereby designated as a regular interest in REMIC III-1; and (ix) each of the REMIC III-2 Regular Interests is hereby designated as a Regular Interest in REMIC III-2. The Class SW-R Interest is hereby designated as the sole residual interest in the SWAP REMIC. The Class LTI1-R Interest is hereby designated as the sole residual interest in REMIC I-1. The Class LTI2-R Interest is hereby designated as the sole residual interest in REMIC I-2. The Residual I Interest is hereby designated as the sole residual interest in REMIC I-3. The Class LTII1-R Interest is hereby designated as the sole residual interest in REMIC II-1. The Class LTII2-R Interest is hereby designated as the sole residual interest in REMIC II-2. The Class LTII3-R Interest is hereby designated as the sole residual interest in REMIC II-3. The Class LTIII1-R Interest is hereby designated as the sole residual interest in REMIC III-1. The Class LTIII2-R Interest is hereby designated s the sole residual interest in REMIC III-2. The Class R-I Certificate evidences ownership of the Class SW-R Interest, the Class LTI1-R Interest, the Class LTI2-R Interest and the Residual I Interest. The Class R-II Certificate evidences ownership of the Class LTII1-R Interest, the Class LTII2-R Interest and the Class LTII3-R Interest. The Class R-III Interest evidences ownership of the Class LTIII1-R Interest and the Class LTI...

REMIC AND GRANTOR TRUST ADMINISTRATION. REMIC Administration Section 9.02 Prohibited Transactions and Activities Section 9.03 Indemnification with Respect to Certain Taxes and Loss of REMIC Status Section 9.04 REO Property Section 9.05 Grantor Trust Administration ARTICLE X

REMIC AND GRANTOR TRUST ADMINISTRATION. (a) As set forth in the Preliminary Statement hereto, REMIC status shall be elected in accordance with the REMIC Provisions with respect to each of REMIC I-1, REMIC I-2, REMIC I-3, REMIC I-4, REMIC II-1 and REMIC II-2. The Trustee shall make such elections on Forms 1066 or other appropriate federal tax or information return for the taxable year ending on the last day of the calendar year in which the Certificates are issued. For the purposes of such elections, each of the REMIC I-1 Regular Interests is hereby designated as a regular interest in REMIC I-1. Each of the REMIC I-2 Regular Interests is hereby designated as a regular interest in REMIC I-2. Each of the REMIC I-3 Regular Interests is hereby designated as a regular interest in REMIC I-3. Each of the REMIC I-4 Regular Interests is hereby designated as a regular interest in REMIC I-4. Each of the REMIC II-1 Regular Interests is hereby designated as a regular interest in REMIC II-1. Each of the REMIC II-2 Regular Interests is hereby designated as a regular interest in REMIC II-2. The Class LTI1-R Interest is hereby designated as the sole

REMIC AND GRANTOR TRUST ADMINISTRATION. Section 12.1 REMIC Administration 374 Section 12.2 Prohibited Transactions and Activities 379 Section 12.3 Modifications of Mortgage Loans 379 Section 12.4 Liability with Respect to Certain Taxes and Loss of REMIC Status 380 Section 12.5 Class J Grantor Trust 380 Section 12.6 EC Trust 381 Section 12.7 Swap Grantor Trust 382 Section 12.8 Grantor Trust Reporting Requirements 382 ARTICLE XIII Section 13.1 Intent of the Parties; Reasonableness. 383 Section 13.2 Information to be Provided by the Master Servicer, the Special Servicer, the Custodian, any Primary Servicer and the Certificate Administrator. 384 Section 13.3 Filing Obligations. 386 Section 13.4 Form 10-D Filings. 386 Section 13.5 Form 10-K Filing 389 Section 13.6 S▇▇▇▇▇▇▇-▇▇▇▇▇ Certification. 391 Section 13.7 Form 8-K Filings. 392