Class V Specific Grantor Trust Assets definition

Class V Specific Grantor Trust Assets. The portion of the Trust Fund consisting of any collections of Post-ARD Additional Interest Received by the Trust with respect to the Mortgage Loans that are ARD Mortgage Loans and/or any successor REO Mortgage Loans with respect thereto.
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Class V Specific Grantor Trust Assets. The portion of the Trust Fund consisting of a portion of any Excess Interest equal to the product of (A) the Non-Retained Percentage and (B) the aggregate amount of Excess Interest received on or prior to the related Determination Date, related amounts in the Excess Interest Distribution Account and the proceeds thereof, beneficial ownership of which is represented by the Class V Certificates.
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Class V Specific Grantor Trust Assets means that portion of the Trust consisting of the Excess Interest and the Excess Interest Sub-account.
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Examples of Class V Specific Grantor Trust Assets in a sentence

  • The Class V Certificates and the RR Interest shall represent undivided beneficial interests in the Grantor Trust consisting of the Class V Specific Grantor Trust Assets and the RR Interest Specific Grantor Trust Assets, respectively, as described herein.

  • Solely for tax purposes, the Class V Certificates and the RR Interest shall represent undivided beneficial interests in the Class V Specific Grantor Trust Assets and the RR Interest Specific Grantor Trust Assets, respectively.

  • The Class V Certificates and the RR Interest are hereby designated as undivided beneficial interests in their respective portions of the Trust Fund consisting of their interests in the Class V Specific Grantor Trust Assets and the RR Interest Specific Grantor Trust Assets, respectively, which portions shall be treated as a grantor trust within the meaning of subpart E, part I of subchapter J of the Code.

  • In addition, the parties intend that the portion of the Trust Fund consisting of the Class V Specific Grantor Trust Assets and the RR Interest Specific Grantor Trust Assets shall be treated as a grantor trust under subpart E, part I of subchapter J of the Code for federal income tax purposes (the “Grantor Trust”).

  • Notwithstanding anything to the contrary herein, there are no ARD Loans related to the Trust and accordingly, (i) there shall be no Excess Interest payable in respect of a Mortgage Loan in the Mortgage Pool, (ii) there shall be no Class V Specific Grantor Trust Assets and (iii) the Class V Certificates shall not represent any interest in the Grantor Trust.

  • The Class V Certificates shall represent undivided beneficial interests in the Grantor Trust, which consists of the Class V Specific Grantor Trust Assets described herein.


More Definitions of Class V Specific Grantor Trust Assets

Class V Specific Grantor Trust Assets means that portion of the Trust consisting of any Excess Interest (whether now or hereafter arising) and the Excess Interest Sub-account. Notwithstanding anything to the contrary herein, as of the Cut-off Date, there are no ARD Loans related to the Trust and accordingly, until such time as Excess Interest exists in respect of a Mortgage Loan in the Mortgage Pool, (i) there shall be no Excess Interest payable in respect of a Mortgage Loan in the Mortgage Pool and (ii) there shall be no Class V Specific Grantor Trust Assets.
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Related to Class V Specific Grantor Trust Assets