National Rural definition

National Rural or “Borrower”), Fxxxxx Mac Mortgage Securities Corporation (“Purchaser”), and Federal Agricultural Mortgage Corporation (“Guarantor”), National Rural has agreed, in the event of a payment default by National Rural on the Notes, to grant the Control Party certain rights of setoff against amounts due and owing to National Rural on any Series C Preferred Stock, par value $1,000 per share (the “Preferred Stock”), of Guarantor. Capitalized terms used but not otherwise defined herein shall have the meaning set forth in the Agreement. Borrower, Guarantor and Purchaser hereby agree that in the event of, and only in the event of, a payment Event of Default by Borrower pursuant to Section 7.01(a) of the Agreement (“Payment Default”), the Control Party shall have the right, at the Control Party’s sole option and discretion, to setoff any amounts due to Borrower in respect of Guarantor’s Preferred Stock, whether in respect of dividends, redemption, liquidation or otherwise (the “Preferred Payments”), and to apply the Preferred Payments on a dollar-for-dollar basis against the amount of Borrower’s Payment Default. Such setoff amount by the Control Party shall not exceed the amount of Borrower’s Payment Default, and under no circumstances shall Borrower be liable to Purchaser or the Guarantor in connection with the transactions described herein for any amount in excess of the principal amount of the Notes plus interest, as provided in the Agreement. Borrower’s amount due under the Notes shall be satisfied and discharged to the extent of, but only to the extent of, the Control Party’s effective setoff. If no Payment Default by Borrower has occurred, however, the Guarantor shall have no right to setoff or otherwise withhold the Preferred Payments from Borrower. The Control Party shall provide Borrower with notice of, and reasonably detailed back up information with respect to, any setoff effected by the Control Party under this letter agreement. The rights of the Control Party herein shall be in addition to, and not in substitution or limitation of, any other rights and remedies available to the Control Party, whether such rights or remedies arise pursuant to law, the Agreement or any other agreement between the parties. Please acknowledge your acceptance of the foregoing terms by executing this letter agreement in the space below, whereupon this agreement shall constitute a valid agreement binding upon Purchaser and Borrower. This letter agreement may be executed in any ...
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National Rural has the meaning set forth in the introductory paragraph hereof.
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Examples of National Rural in a sentence

  • The Journal of rural health : official journal of the American Rural Health Association and the National Rural Health Care Association.

  • Petersen Chief Executive Officer A signed original of this written statement required by Section 302 has been provided to National Rural Utilities Cooperative Finance Corporation and will be retained by National Rural Utilities Cooperative Finance Corporation and furnished to the Securities and Exchange Commission or its staff upon request.

  • The ISA would also develop synergies and convergence with other related flagships such as the Swachh Bharat Mission, the Mahatma Gandhi National Rural Employment Guarantee scheme.

  • There shall be no objection if the arbitrator so appointed happens to be an employee of National Rural Health Mission, Assam.

  • Petersen Chief Executive Officer A signed original of this written statement required by Section 906 has been provided to National Rural Utilities Cooperative Finance Corporation and will be retained by National Rural Utilities Cooperative Finance Corporation and furnished to the Securities and Exchange Commission or its staff upon request.

  • Any dispute whatsoever in any way arising out of or relating to the contract shall be referred to arbitration of the Mission Director, National Rural Health Mission, Assam or to the sole arbitration of some person nominated by him.

  • This program is being implemented through National Rural Road Development Authority (NRRDA) under Ministry of Rural Development (MORD) at central level and through State Rural Road Development Authority/Agencies (SRRDA) at state level.

  • Mr Michael Keogh, National Rural Advisory Council, Transcript of Evidence, Canberra, p.

  • The Investment Manager has obtained such personnel through an agreement with National Rural Electric Cooperative Association, which has primary responsibility for the salaries, expenses and fees of persons provided to serve as directors, officers and employees of the Investment Manager.

  • National Rural Health Mission (NRHM)( at present known as National Health Mission) of the Ministry of Health & Family Welfare was launched on 12th April, 2005 by the Government of India to improve medical facilities in all the area in the country.

Related to National Rural

  • Rural means those areas designated by USDA as being eligible Rural areas. A list of USDA Rural areas can be accessed on the USDA website at [http://eligibility.sc.egov.usda.gov/]

  • CPS means Consumer Portfolio Services, Inc., a California corporation and its successors.

  • U.S. Department of Energy means the Department of Energy established by Public Law 95-91, August 4, 1977, 91 Stat. 565, 42 U.S.C. 7101 et seq., to the extent that the department exercises functions formerly vested in the U.S. Atomic Energy Commission, its chairman, members, officers and components and transferred to the U.S. Energy Research and Development Administration and to the administrator thereof pursuant to Sections 104(b), (c) and (d) of the Energy Reorganization Act of 1974 (Public Law 93-438, October 11, 1974, 88 Stat. 1233 at 1237, effective January 19, 1975) and retransferred to the Secretary of Energy pursuant to Section 301(a) of the Department of Energy Organization Act (Public Law 95-91, August 4, 1977, 91 Stat. 565 at 577-578, 42 U.S.C. 7151,

  • Corporation/ Corpn./ Department means the Central Warehousing Corporation.

  • Fannie Mae The Federal National Mortgage Association, or any successor xxxxxto.

  • National Repository means any Nationally Recognized Municipal Securities Information Repository for purposes of the Rule.

  • COVERED HEALTHCARE SERVICES means any service, treatment, procedure, facility, equipment, drug, device, or supply that we have reviewed and determined is eligible for reimbursement under this plan.

  • Healthcare services means services or goods provided for

  • Electric provider means any of the following:

  • Financial Security means Financial Security Assurance Inc., a New York stock insurance company, its successors and assigns.

  • Renewable Energy Certificate or "REC" means a certificate

  • Delivered Energy means the kilowatt hours of Electricity actually fed and measured by the energy meters at the Delivery Point and as certified by SLDC/MSEDCL authorities.

  • Non-Reporting Financial Institution means any Financial Institution that is:

  • Reporting Financial Institution means a Reporting Finnish Financial Institution or a Reporting U.S. Financial Institution, as the context requires.

  • Loan Trustee Means, with respect to any Indenture, the bank, trust company or other financial institution designated as loan trustee thereunder, and any successor to such loan trustee.

  • Freddie Mac Federal Home Loan Mortgage Corporation, a corporate instrumentality of the United States created and existing under Title III of the Emergency Home Finance Act of 1970, as amended, or any successor thereto.

  • Federated means Federated Investors, Inc. and any of its subsidiaries as the context may require.

  • Affidavit of Small Business Enterprise Certification means the fully completed, signed, and notarized affidavit that must be submitted with an application for SBE certification. Representations and certifications made by the applicant in this Affidavit are made under penalty of perjury and will be used and relied upon by City to verify SBE eligibility and compliance with SBE certification and documentation requirements.

  • Journeyman electrician means a person licensed under this chapter as a

  • National Assembly (“Cynulliad Cenedlaethol”) means the National Assembly for Wales;

  • Academy means the academy named at the beginning of this Disciplinary Policy and Procedure and includes all sites upon which the academy undertaking is, from time to time, being carried out.

  • Public resources means water, fish, and wildlife and in addition means capital improvements of the state or its political subdivisions.

  • NCCPA means the National Commission on Certification of Physician Assistants.

  • National bank means a national banking association

  • U.S. Bank means U.S. Bank National Association.

  • CCPA means the California Consumer Privacy Act, Cal. Civ. Code § 1798.100 et seq., and its implementing regulations.