Allocation of Losses between Treasury and GSE. Treasury will bear all Program Losses realized on the New Issue Bond Program and the Temporary Credit and Liquidity Facility Program up to the First Loss Limit (“First Position Losses”). Each GSE will bear Program Losses, if any, realized on the New Issue Bond Program and the Temporary Credit and Liquidity Facility Program once the Program Losses, if any, realized by Treasury equal the First Loss Limit (“Second Position Losses”).
Appears in 6 contracts
Samples: New Issue Bond Program Agreement (Federal National Mortgage Association Fannie Mae), Administration Agreement (Federal Home Loan Mortgage Corp), New Issue Bond Program Agreement (Federal Home Loan Mortgage Corp)
Allocation of Losses between Treasury and GSE. Treasury will bear all Program Losses realized on the New Issue Bond Program and the Temporary Credit and Liquidity Facility Program up to the First Loss Limit (“First Position Losses”). Each GSE will bear Program Losses, if any, realized on the New Issue Bond Program and the Temporary Credit and Liquidity Facility Program once the Program Losses, if any, Losses realized by Treasury equal the First Loss Limit (“Second Position Losses”).
Appears in 1 contract
Samples: Memorandum of Understanding (Federal Home Loan Mortgage Corp)
