Credit Enhancement Obligations. (a) The PFI hereby agrees to pay to the Bank an amount equal to the Realized Loss for the Mortgages delivered under each Conventional Mortgage Master Commitment which exceeds the available First Loss Account but in no event shall such amount exceed, in the aggregate, the lesser of (i) the Actual Credit Enhancement for such Master Commitment or (ii) any other limitations in the applicable MPF Mortgage Product terms and/or as may be specified in the Master Commitment.
Appears in 4 contracts
Samples: Financial Institution Agreement, Financial Institution Agreement (Federal Home Loan Bank of Chicago), Financial Institution Agreement (Federal Home Loan Bank of Chicago)
Credit Enhancement Obligations. (a) The PFI hereby agrees to pay to the Bank an amount equal to the Realized Loss for the Mortgages delivered under each Conventional Mortgage Master Commitment which exceeds the available First Loss Account but in no event shall such amount exceed, in the aggregate, the lesser of (i) the Actual Credit Enhancement for such Master Commitment or (ii) any other limitations in the applicable MPF Mortgage Product terms and/or as may be specified specified in the Master Commitment.
Appears in 2 contracts
Samples: Financial Institution Agreement, Financial Institution Agreement
