PC Issue Date definition
PC Issue Date. With respect to each PC Pool, the date specified in the related Pool Supplement or, if not specified therein, the date on which ▇▇▇▇▇▇▇ Mac issues a PC in exchange for the Mortgages delivered by a dealer or other customer.
Examples of PC Issue Date in a sentence
On the related PC Issue Date and upon payment to the Depositor for any such PC by a Holder, such Holder shall, by virtue thereof, acknowledge, accept and agree to be bound by all of the terms and conditions of this Agreement.
The Depositor, by delivering any Mortgages pursuant to this Agreement, unconditionally, absolutely and irrevocably hereby transfers, assigns, sets over and otherwise conveys to the Trustee, on behalf of the related Holders, all of the Depositor’s right, title and interest in and to such Mortgages, including all payments of principal and interest thereon received after the month in which the PC Issue Date occurs.