Common use of GIFC Clause in Contracts

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 CertiÑcates as an administration fee.

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 CertiÑcates Certificates as an administration fee.