Common use of Facility Administration Clause in Contracts

Facility Administration. Each GSE shall administer its obligations under its portion of the Temporary Credit and Liquidity Facility with the same care, skill, prudence and diligence with which such GSE administers similar credit and liquidity facilities for its own account, giving due consideration to customary and usual standards of practice of prudent institutional commercial lenders administering their own credit facilities, in each case acting in accordance with applicable law, the terms of this Participation Agreement and the applicable Transaction Documents.