United States of America Government Sponsored Enterprise means a corporate entity created by a law of the United States that (A) (i) has a Federal charter authorized by law, (ii) is privately owned, as evidenced by capital stock owned by private entities or individuals, (iii) is under the direction of a board of directors, a majority of which is elected by private owners, (iv) is a financial institution with power to (I) make loans or loan guarantees for limited purposes such as to provide credit for specific borrowers or one sector, (II) raise funds by borrowing (which does not carry the full faith and credit of the United States of America) or to guarantee the debt of others in unlimited amounts, (B) (i) does not exercise powers that are reserved to the United States of America as sovereign (such as the power to tax or to regulate interstate commerce), (ii) does not have the power to commit the United States of America financially (but it may be a recipient of a loan guarantee commitment made by the United States of America), and (iii) has employees whose salaries and expenses are paid by the enterprise and are not Federal employees subject to Title 5, and (C) benefits from an implicit Federal guarantee to enhance its ability to borrow money. As of the date of this Agreement, United States of America Government Sponsored Enterprises include the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).
United States of America Government Sponsored Enterprise means a corporate entity created by a law of the United States that
United States of America Government Sponsored Enterprise means a corporate entity created by a law of the United States that (A) (i) has a Federal charter authorized by law, (ii) is privately owned, as evidenced by capital stock owned by private entities or individuals, (iii) is under the direction of a board of directors, a majority of which is elected by private owners, (iv) is a financial institution with power to (I) make loans or loan guarantees for limited purposes such as to provide credit for specific borrowers or one sector, (II) raise funds by borrowing (which does not carry the full faith and credit of the United States of America) or to guarantee the debt of others in unlimited amounts, (B) (i) does not exercise powers that are reserved to the United States of America as sovereign (such as the power to tax or to regulate interstate commerce), (ii) does not have the power to commit the United States of America financially (but it may be a recipient of a loan guarantee commitment made by the United States of America), and (iii) has employees whose salaries and expenses are paid by the enterprise and are not Federal employees subject to Title 5, and (C) benefits from an implicit Federal guarantee to enhance its ability to borrow money. As of the date of this Agreement, United States of America Government Sponsored Enterprises include the Federal National Mortgage Association (Xxxxxx Xxx) and the Federal Home Loan Mortgage Corporation (Xxxxxxx Mac).