Hedge Assignment; Delivery of Payments. The Sponsor shall assign to Xxxxxxx Mac each Hedge in effect from time to time pursuant to this Agreement. The Counterparty shall make all its payments to Xxxxxxx Mac to be allocated to the payment of fees, expenses, reimbursements and other Obligations of the Sponsor hereunder, and in no event paid to Class A Certificates. Any amounts received by the Sponsor from the Counterparty pursuant to the Hedge Agreement shall be paid by the Sponsor to Xxxxxxx Mac immediately and until paid to Xxxxxxx Mac, shall be held in trust for the benefit of Xxxxxxx Mac until applied in accordance with the terms of Article VIII hereof.
Appears in 2 contracts
Samples: Pledge and Security Agreement (America First Multifamily Investors, L.P.), Pledge and Security Agreement (America First Multifamily Investors, L.P.)
Hedge Assignment; Delivery of Payments. The Sponsor shall assign to Xxxxxxx Fxxxxxx Mac each Hedge in effect from time to time pursuant to this Agreement. The Counterparty shall make all its payments to Xxxxxxx Fxxxxxx Mac to be allocated to the payment of fees, expenses, reimbursements and other Obligations of the Sponsor hereunder, and in no event paid to Class A Certificates. Any amounts received by the Sponsor from the Counterparty pursuant to the Hedge Agreement shall be paid by the Sponsor to Xxxxxxx Fxxxxxx Mac immediately and until paid to Xxxxxxx Fxxxxxx Mac, shall be held in trust for the benefit of Xxxxxxx Fxxxxxx Mac until applied in accordance with the terms of Article VIII hereof.
Appears in 2 contracts
Samples: Pledge and Security Agreement (America First Multifamily Investors, L.P.), Pledge and Security Agreement (America First Tax Exempt Investors Lp)
