Common use of Execution and Terms of Master Commitments Clause in Contracts

Execution and Terms of Master Commitments. Upon delivery by a PFI of an estimate of the number, characteristics and dollar amount of Mortgage Loans it will originate for or sell to the Pittsburgh Bank during the term of a proposed Master Commitment, the Pittsburgh Bank will establish the Spread Account percentage, the Maximum Credit Enhancement Amount, the credit enhancement fee and the servicing fee for that Master Commitment in accordance with the Guides. Upon execution of a Master Commitment, the Pittsburgh Bank will provide timely notification of the Master Commitment to the Service Center whose personnel will then enter it into the MPF Program system in accordance with the Guides.