Common use of Reserve Banks as Agent Clause in Contracts

Reserve Banks as Agent. For each Regular Certificate (other than the DTC Certificates), the appropriate Reserve Bank shall be considered to be acting as the agent of Xxxxxx Mae in providing to and conferring upon the owners of such Certificates, as such owners shall appear on the records of such Reserve Bank, the substantive rights and benefits which are provided for herein for Holders of such Certificates. Accordingly, the substantive effect of all provisions herein providing rights and benefits to Holders of such Certificates, including, without limitation, provisions relating to distributions, voting and notices, shall apply to such record owners on the books of the Reserve Bank, through the appropriate Reserve Bank acting as agent for Xxxxxx Xxx.

Reserve Banks as Agent. For each REMIC Regular Certificate (other than the DTC Certificates)Certificate, the appropriate Reserve Bank shall be considered to be acting as the agent of Xxxxxx Mae Xxx in providing to and conferring upon the owners of such the REMIC Regular Certificates, as such owners shall appear on the records of such Reserve Bank, the substantive rights and benefits which are provided for herein for Holders of such Certificates. Accordingly, the substantive effect of all provisions herein providing rights and benefits to Holders of such REMIC Regular Certificates, including, without limitation, provisions relating to distributions, voting and notices, shall apply to such record owners on the books of the Reserve Bank, through the appropriate Reserve Bank acting as agent for Xxxxxx XxxMae.

Reserve Banks as Agent. For each Regular Certificate (other than the DTC Class W5-R and Class W5-RL Certificates), the appropriate Reserve Bank shall be considered to be acting as the agent of Xxxxxx Mae Xxx in providing to and conferring upon the owners of such the Certificates, as such owners shall appear on the records of such Reserve Bank, the substantive rights and benefits which are provided for herein for Holders of such Certificates. Accordingly, the substantive effect of all provisions herein providing rights and benefits to Holders of such Certificates, including, without limitation, provisions relating to distributions, voting and notices, shall apply to such record owners on the books of the Reserve Bank, through the appropriate Reserve Bank acting as agent for Xxxxxx XxxMae.

Reserve Banks as Agent. For each Regular Certificate (other than the DTC Certificates and the Residual Certificates), the appropriate Reserve Bank shall be considered to be acting as the agent of Xxxxxx Mae Xxx in providing to and conferring upon the owners of such Certificates, as such owners shall appear on the records of such Reserve Bank, the substantive rights and benefits which are provided for herein for Holders of such Certificates. Accordingly, the substantive effect of all provisions herein providing rights and benefits to Holders of such Certificates, including, without limitation, provisions relating to distributions, voting and notices, shall apply to such record owners on the books of the Reserve Bank, through the appropriate Reserve Bank acting as agent for Xxxxxx XxxMae.

Reserve Banks as Agent. For Except as otherwise specified in the related Series Supplement, for each Regular Certificate (other than the DTC Certificates)Certificate, the appropriate Reserve Bank shall be considered to be acting as the agent of Xxxxxx Mae in providing to and conferring upon the owners of such the Certificates, as such owners shall appear on the records of such Reserve Bank, the substantive rights and benefits which are provided for herein for Holders of such Certificates. Accordingly, the substantive effect of all provisions herein providing rights and benefits to Holders of such Certificates, including, without limitation, provisions relating to distributions, voting and notices, shall apply to such record owners on the books of the Reserve Bank, through the appropriate Reserve Bank acting as agent for Xxxxxx Xxx.

Reserve Banks as Agent. For each Regular Certificate Class of Trust Fund Certificates (other than the DTC R Class, RM Class and RL Class Certificates), the appropriate Reserve Bank shall be considered to be acting as the agent of Xxxxxx Mae Xxx in providing to and conferring upon the owners of such Certificates, as such owners shall appear on the records of such Reserve Bank, the substantive rights and benefits which are provided for herein for Holders of such Certificates. Accordingly, the substantive effect of all provisions herein providing rights and benefits to Holders of such Trust Fund Certificates, including, without limitation, provisions relating to distributions, voting and notices, shall apply to such record owners on the books of the Reserve Bank, through the appropriate Reserve Bank acting as agent for Xxxxxx XxxMae.

Reserve Banks as Agent. For each Regular Certificate (Certificate, other than the DTC Certificates), ,the appropriate Reserve Bank shall be considered to be acting as the agent of Xxxxxx Mae in providing to and conferring upon the owners of such Regular Certificates, as such owners shall appear on the records of such Reserve Bank, the substantive rights and benefits which are provided for herein for Holders of such Certificates. Accordingly, the substantive effect of all provisions herein providing rights and benefits to Holders of such Regular Certificates, including, without limitation, provisions relating to distributions, voting and notices, shall apply to such record owners on the books of the Reserve Bank, through the appropriate Reserve Bank acting as agent for Xxxxxx Xxx.

Reserve Banks as Agent. For each REMIC Regular Certificate (Certificate, other than the DTC Subordinate Certificates), the appropriate Reserve Bank shall be considered to be acting as the agent of Xxxxxx Mae in providing to and conferring upon the owners of such the REMIC Regular Certificates, as such owners shall appear on the records of such Reserve Bank, the substantive rights and benefits which that are provided for herein for Holders of such Certificates. Accordingly, the substantive effect of all provisions herein providing rights and benefits to Holders of such Certificates, including, without limitation, provisions relating to distributions, voting and notices, shall apply to such record owners on the books of the Reserve Bank, through the appropriate Reserve Bank acting as agent for Xxxxxx Xxx.

Reserve Banks as Agent. For each Regular Certificate (Certificate, other than the DTC Certificates), the appropriate Reserve Bank shall be considered to be acting as the agent of Xxxxxx Mae in providing to and conferring upon the owners of such the Regular Certificates, as such owners shall appear on the records of such Reserve Bank, the substantive rights and benefits which are provided for herein for Holders of such Certificates. Accordingly, the substantive effect of all provisions herein providing rights and benefits to Holders of such Regular Certificates, including, without limitation, provisions relating to distributions, voting and notices, shall apply to such record owners on the books of the Reserve Bank, through the appropriate Reserve Bank acting as agent for Xxxxxx Xxx.Xxx.=