Market Bond Ratio Requirement. At issuance, the HFA hereby represents and warrants that it has, prior to the Settlement Date, issued and sold to persons other than Treasury, in conjunction with the issuance of the Program Bonds, bonds that are not Program Bonds but which are issued out of the same indenture and the proceeds of which are intended to be used in the HFA’s single-family loan program (“Market Bonds”). The principal amount of such Market Bonds is not less than two-thirds (2/3) of the principal amount of the Program Bonds (“Market Bond Ratio Requirement”).
Appears in 4 contracts
Samples: Issue Bond Program Agreement (Federal National Mortgage Association Fannie Mae), Program Agreement (Federal Home Loan Mortgage Corp), Terms (Federal Home Loan Mortgage Corp)
