GSE Security definition

GSE Security means a security backed by one or more Bank Bonds issued by a Trust and purchased by Treasury under the terms of this Participation Agreement.
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Examples of GSE Security in a sentence

  • Loss sharing payments made with respect to GSE Securities will be made as a distribution under the GSE Security and all other loss sharing payments will be paid to Treasury to such account as Treasury may require.

  • All principal and interest received on Program Bonds represented by Custodial Receipts related to a GSE Security, less administrative and other fees and expenses to which the related GSE and the Administrator are entitled, will be allocated to that GSE Security without preference or priority.

  • Subject to the Program Bond payment dates represented in a GSE Security, distributions may not necessarily be payable every calendar month.

  • Excluded from this limitation is the use by Treasury of custodians or nominees (including Treasury’s Agent) to hold any GSE Security on behalf of Treasury.

  • With respect to any Program Bond represented by a Custodial Receipt related to a GSE Security, Treasury shall be entitled to exercise Decision Control so long as the Crossover Date has not occurred, and the GSEs shall be entitled to exercise such Decision Control on and after the Crossover Date.

  • Nothing in this Agreement shall make or be deemed to make a GSE responsible for the obligations of the other GSE under this Agreement or under any transaction, GSE Security or other specific undertaking made pursuant to this Agreement.

  • With respect to (i) any Eligible Bond held by a Trust represented by a GSE Security held by or behalf of Treasury and (ii) any Temporary Credit and Liquidity Facility, Treasury shall be entitled to exercise Decision Control so long as the Crossover Date has not occurred and the GSEs shall be entitled to exercise Decision Control on and after the Crossover Date.

  • Each GSE holding one or more Bank Bonds pursuant to this Section or issuing a GSE Security backed by one or more Bank Bonds will be entitled to an allocation of the interest payments received on the related Bank Bonds.

  • Depending on the mix of HFA bond payment dates represented in a GSE Security, distributions may not be payable every calendar month.

  • Each GSE shall be responsible only for the performance by it of its obligations under this MOU and under any transaction, GSE Security or other undertaking made pursuant to this MOU, as qualified by subsection (C) above.