Default by PFIs; Enforcement. Each of the Parties is entitled to assume that no PFI default or event which, with the giving of notice or lapse of time, or both, would constitute such a default, has occurred and is continuing unless such Party (i) has actual knowledge of such default or event, or (ii) has been notified in writing that such a default or event has occurred. For the avoidance of doubt, no duty to notify or inform Parties that are not directly affected by such default or event shall be implied by this Section 11.2.
Appears in 4 contracts
Samples: Interbank Agreement (Federal Home Loan Bank of Boston), MPF Consolidated Interbank Agreement (Federal Home Loan Bank of Chicago), Consolidated Interbank Agreement (Federal Home Loan Bank of Pittsburgh)
Default by PFIs; Enforcement. Each of the Parties parties is entitled to assume that no PFI default or event which, with the giving of notice or lapse of time, or both, would constitute such a default, has occurred and is continuing unless such Party party (i) has actual knowledge of such default or event, or (ii) has been notified in writing that such a default or event has occurred. For the avoidance of doubt, no duty to notify or inform Parties that are not directly affected by such default or event shall be implied by this Section 11.2.
Appears in 2 contracts
Samples: Services Agreement (Federal Home Loan Bank of Boston), Services Agreement (Federal Home Loan Bank of Pittsburgh)
