Common use of Payments on Book-Entry Debt Securities Clause in Contracts

Payments on Book-Entry Debt Securities. Payments of principal of and any interest on Book Entry Debt Securities shall be made in U.S. dollars on the applicable payment dates to Holders thereof as of the end of the day preceding such payment dates. Payments on Book-Entry Debt Securities shall be made by credit of the payment amount to the Holders’ accounts at the relevant Federal Reserve Bank. All payments to or upon the order of a Holder shall be valid and effective to discharge the liability of Xxxxxxx Mac in respect of the related Book-Entry Debt Securities.

Payments on Book-Entry Debt Securities. Payments of principal of and any interest on Book Entry Debt Securities shall be made in U.S. dollars (except as otherwise provided in the applicable Supplemental Agreement) on the applicable payment dates to Holders thereof as of the end of the day Business Day preceding each such payment datesdate. Payments on Book-Entry Debt Securities shall be made by credit of the payment amount to the Holders’ accounts at the relevant Federal Reserve Bank. All payments to or upon the order of a Holder shall be valid and effective to discharge the liability of Xxxxxxx Mac in respect of the related Book-Entry Debt Securities.