Examples of Xxxxxx Xxx Securities in a sentence
Xxxxxx Mae, acting in its corporate capacity, does hereby transfer, assign, set over and otherwise convey to Xxxxxx Xxx, acting in its capacity as Trustee for the Lower Tier REMIC established hereby, all of Xxxxxx Mae’s right, title and interest in and to the Xxxxxx Xxx Securities identified in Exhibit A hereto, including all payments of principal and interest thereon received after the month of the Issue Date.
The Participants acknowledge that the Issuer or Servicer may terminate any Origination Period at any time upon written notice to Participants if the Trustee, the Issuer or the Certificate Purchaser if other than the Trustee or Issuer, fails to purchase GNMA Certificates, Xxxxxxx Mac Securities or Xxxxxx Xxx Securities in accordance with the Servicing Agreement.
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Xxxxxx Mae shall not be permitted to repurchase the Xxxxxx Xxx Securities from the Trust Fund pursuant to Section 8.01 of the Trust Agreement at any time.
The Lenders acknowledge that the Servicer with respect to a Program may terminate the Origination Period for such Program at any time upon written notice to Lenders if the trustee for an issue of Bonds or the Local HFA, if a Program is not related to an issue of Bonds, fails to purchase GNMA Certificates, Xxxxxxx Mac Securities or Xxxxxx Xxx Securities in accordance with the related Program due to insufficient funds being available for such purchase.
The Servicer shall provide to the Trustee in conjunction with each payment, a statement (HUD Form 11710-A) identifying whether such moneys are derived from regularly scheduled principal payments on Mortgage Loans, principal prepayments, interest on Mortgage Loans or other moneys with respect to the Xxxxxx Xxx Securities, the Xxxxxx Mae Securities and the Xxxxxxx Mac PCs, as applicable, and such other information as the Corporation and the Trustee may reasonably require.
The Servicer’s obligation to purchase and take delivery is subject to the availability of sufficient funds being available from the Local HFA or a trust indenture relating to an issue of Bonds to purchase GNMA Certificates or cause Xxxxxx Xxx Securities or Xxxxxxx Mac Securities to be issued.
This MRB Servicing Agreement shall be in full force and effect from the date hereof and shall continue in effect until the earlier to occur of the following: (i) the date on which no Xxxxxx Xxx Securities, Xxxxxx Mae Securities, or Freddie Mac PCs or Mortgage Loans are outstanding or (ii) the date on which this MRB Servicing Agreement is terminated pursuant to Section 4.02 hereof.
Purchase of Xxxxxx Xxx Securities, Xxxxxx Xxx Securities and Freddie Mac PCs. 9 Section 2.11.
To the extent that any Series of Bonds is secured by Guaranteed Mortgage Securities, the Issuer will cause all revenues derived from GNMA Certificates, including payments from GNMA pursuant to the GNMA Guaranty, all revenues derived from Xxxxxx Xxx Securities, including payments from Xxxxxx Mae pursuant to its guarantee, and all revenues from Xxxxxxx Mac Securities, including payments from Xxxxxxx Mac pursuant to its guaranty to be deposited with the Trustee upon receipt.