Primary Distribution. Discount Notes shall be issued and settled through the Fed Book-Entry System in same-day funds and shall be held by designated Fed Participants. After initial issue, all Discount Notes shall continue to be held by such Fed Participants in the Fed Book-Entry System unless arrangements are made for the transfer thereof to other Fed Participants. Discount Notes shall not be exchangeable for definitive Discount Notes.
Appears in 21 contracts
Samples: Federal Home Loan Mortgage Corporation Discount Note Agreement, Federal Home Loan Mortgage Corporation Discount Note Agreement, Federal Home Loan Mortgage Corporation Discount Note Agreement
Primary Distribution. Discount Notes shall be issued and settled through the Fed Book-Book- Entry System in same-day funds and shall be held by designated Fed Participants. After initial issue, all Discount Notes shall continue to be held by such Fed Participants in the Fed Book-Entry System unless arrangements are made for the transfer thereof to other Fed Participants. Discount Notes shall not be exchangeable for definitive Discount Notes.
Appears in 1 contract
Samples: Federal Home Loan Mortgage Corporation Discount Note Agreement
Primary Distribution. Discount Notes shall be issued and settled through the Fed Book-Entry System in same-day funds and shall be held by designated Fed Participants. After initial issue, all Discount Notes shall continue to be held by such Fed Participants in the Fed Book-Entry System unless arrangements are made for the transfer thereof to other Fed Participants. Discount Notes shall not be exchangeable for definitive deÑnitive Discount Notes.
Appears in 1 contract
Samples: Federal Home Loan Mortgage Corporation Discount Note Agreement
