GIFC. A guaranteed investment and fee contract, executed by the Administrator and pursuant to which payments on the GNMA Certificates in a Trust Fund are invested with the Administrator from the date of receipt by such Trust Fund at a rate of return guaranteed by the Administrator, and investment proceeds are retained by the Administrator, to the extent provided in the GIFC, as a fee for its administration of such Trust Fund.
GIFC. If so provided in the applicable Terms Supplement and pursuant to a GIFC described therein, the Administrator will deposit into the Custodial Account with respect to a REMIC Pool containing GNMA Certificates to which payments of principal and interest on such GNMA Certificates will be credited upon receipt, as well as any other amounts received by the Administrator. Amounts credited to the Custodial Account will be distributed to Holders on the applicable Payment Date to the extent of interest and principal payments due on the related Multiclass Securities and any related MACR Certificates on that Payment Date. Prior to the related Payment Date, amounts not yet distributable may be debited from the Custodial Account and invested with the Administrator at a rate of return guaranteed to the REMIC Pool by the Administrator, pursuant to the GIFC. On or before the related Payment Date, the Administrator will credit to the Custodial Account pursuant to the GIFC the amounts so invested, together with the guaranteed investment proceeds. The guaranteed investment proceeds, to the extent not applied to interest and principal payments on the related Multiclass Securities and any related MACR Certificates, shall be retained by the Administrator in its corporate capacity as an administration fee pursuant to the GIFC.
GIFC. Pursuant to any GIFC provided for in the applicable Terms Supplement, the Administrator shall deposit principal, interest or any other amounts it receives on the related Assets that are not yet distributable to Holders into an account applicable to that Pass-Through Pool. Pending payment to Holders, the Administrator may withdraw and invest those funds pursuant to the GIFC, guaranteeing the investment proceeds to the Pass-Through Pool. The Administrator shall return the funds and the guaranteed investment proceeds to the account on or before the applicable Payment Date. The Administrator shall retain from the guaranteed investment proceeds any funds that exceed payments on the related Pass-Through Certificates as an administration fee.
GIFC. If so provided in the applicable Terms Supplement and pursuant to a GIFC described therein, Xxxxxxx Mac will establish a Collection Account with respect to a REMIC Pool containing GNMA Certificates to which payments of principal and interest on such GNMA Certificates will be credited upon receipt, as well as any other amounts received by Xxxxxxx Mac in its capacity as administrator of the REMIC Pool. Amounts credited to the Collection Account will be distributed to Holders on the applicable Payment Date to the extent of interest and principal payments due on the related Multiclass Securities and any related MACR Certificates on that Payment Date. Prior to the related Payment Date, amounts not yet distributable may be debited from the Collection Account and invested with Xxxxxxx Mac at a rate of return guaranteed to the REMIC Pool by Xxxxxxx Mac, pursuant to the GIFC. On or before the related Payment Date, Xxxxxxx Mac will credit to the Collection Account pursuant to the GIFC the amounts so invested, together with the guaranteed investment proceeds. The guaranteed investment proceeds, to the extent not applied to interest and principal payments on the related Multiclass Securities and any related MACR Certificates, shall be retained by Xxxxxxx Mac in its corporate capacity as an administration fee pursuant to the GIFC.
GIFC. A guaranteed investment and fee contract, executed by Xxxxxxx Mac in its corporate capacity and pursuant to which payments on the GNMA Certificates in a REMIC Pool are invested with Xxxxxxx Mac from the date of receipt by such REMIC Pool at a rate of return guaranteed by Xxxxxxx Mac, and investment proceeds are retained by Xxxxxxx Mac, to the extent provided in the GIFC, as a fee for its administration of such REMIC Pool.
GIFC. Pursuant to any GIFC provided for in the applicable Terms Supplement, Xxxxxxx Mac, in its capacity as administrator of a Pass-Through Pool, shall deposit principal, interest or any other amounts it receives on the related Assets that are not yet distributable to Holders into an account applicable to that Pass- Through Pool. Pending payment to Holders, Xxxxxxx Mac may withdraw and invest those funds pursuant to the GIFC, guaranteeing the investment proceeds to the Pass-Through Pool. Xxxxxxx Mac will return the funds and the guaranteed investment proceeds to the account on or before the applicable Payment Date. Xxxxxxx Mac will retain from the guaranteed investment proceeds any funds that exceed payments on the related Pass- Through Certificates as an administration fee.
GIFC. Pursuant to any GIFC provided for in the applicable Terms Supplement, Freddie Mac, in its capacity as administrator of a Pass-Through Pool, shall deposit principal, interest or any other amounts it receives on the related Assets that are not yet distributable to Holders into an account applicable to that Pass- Through Pool. Pending payment to Holders, Freddie Mac may withdraw and invest those funds pursuant to the GIFC, guaranteeing the investment proceeds to the Pass-Through Pool. Freddie Mac will return the funds and the guaranteed investment proceeds to the account on or before the applicable Payment Date. Freddie Mac will retain from the guaranteed investment proceeds any funds that exceed payments on the related Pass- Through Certificates as an administration fee.
