Allocation of Mortgages to a Delivery Commitment. Each Mortgage must be consistent with the then unallocated amount under an outstanding Delivery Commitment, which shall be identified by the PFI with respect to such Mortgage, as a condition to the Bank funding or purchasing the Mortgage. Upon funding or purchase, such Mortgage shall be allocated to the specified Delivery Commitment, and the Bank shall issue a Confirmation with respect thereto. Upon such allocation, such Mortgage shall not be reallocated to another Delivery Commitment.
Appears in 2 contracts
Sources: Participating Financial Institution Agreement (Federal Home Loan Bank of Chicago), Participating Financial Institution Agreement (Federal Home Loan Bank of Chicago)
Allocation of Mortgages to a Delivery Commitment. Each Mortgage must be consistent with the then unallocated amount under an outstanding Delivery Commitment, which shall be identified identified by the PFI with respect to such Mortgage, as a condition to the Bank funding or purchasing the Mortgage. Upon funding or purchase, such Mortgage shall be allocated to the specified specified Delivery Commitment, and the Bank shall issue a Confirmation Confirmation with respect thereto. Upon such allocation, such Mortgage shall not be reallocated to another Delivery Commitment.
Appears in 2 contracts
Sources: Participating Financial Institution Agreement, Participating Financial Institution Agreement
Allocation of Mortgages to a Delivery Commitment. Each Mortgage must be consistent with the then unallocated amount under an outstanding Delivery Commitment, which shall be identified by the PFI with respect to such Mortgage, as a condition to the Bank funding or purchasing the Mortgage. Upon funding or purchase, such Mortgage shall be allocated to the specified Delivery Commitment, and the Bank shall issue a Confirmation with respect thereto. Upon such allocation, such Mortgage shall not be reallocated to another Delivery Commitment.
Appears in 1 contract
Allocation of Mortgages to a Delivery Commitment. Each Mortgage must be consistent with the then unallocated amount under an outstanding Delivery Commitment, which shall be identified by the PFI with respect to such Mortgage, as a condition to the Bank funding or purchasing the Mortgage. Upon funding or purchase, such Mortgage shall be allocated to the specified Delivery Commitment, and the Bank shall issue a Confirmation with respect thereto. Upon such allocation, such Mortgage shall not be reallocated to another Delivery Commitment.issue
Appears in 1 contract
Sources: Participating Financial Institution Agreement (Federal Home Loan Bank of New York)