Common use of Reserve Banks as Agent Clause in Contracts

Reserve Banks as Agent. For each Certificate, the appropriate Reserve Bank shall be considered to be acting as the agent of Xxxxxx Mae in providing to and conferring upon the owners of the Certificates, as such owners shall appear on the records of such Reserve Bank, the substantive rights and benefits which are provided for herein for Holders of such Certificates. Accordingly, the substantive effect of all provisions herein providing rights and benefits to Holders of such Certificates, including, without limitation, provisions relating to distributions, voting and notices, shall apply to such record owners on the books of the Reserve Bank, through the appropriate Reserve Bank acting as agent for Xxxxxx Xxx.

Reserve Banks as Agent. For each Regular Certificate, the appropriate Reserve Bank shall be considered to be acting as the agent of Xxxxxx Mae Xxx in providing to and conferring upon the owners of the Regular Certificates, as such owners shall appear on the records of such Reserve Bank, the substantive rights and benefits which are provided for herein for Holders of such Certificates. Accordingly, the substantive effect of all provisions herein providing rights and benefits to Holders of such Regular Certificates, including, without limitation, provisions relating to distributions, voting and notices, shall apply to such record owners on the books of the Reserve Bank, through the appropriate Reserve Bank acting as agent for Xxxxxx XxxMae.

Reserve Banks as Agent. For each Regular Certificate, the appropriate Reserve Bank shall be considered to be acting as the agent of Xxxxxx Mae in providing to and conferring upon the owners of the Regular Certificates, as such owners shall appear on the records of such Reserve Bank, the substantive rights and benefits which are provided for herein for Holders of such Certificates. Accordingly, the substantive effect of all provisions herein providing rights and benefits to Holders of such Regular Certificates, including, without limitation, provisions relating to distributions, voting and notices, shall apply to such record owners on the books of the Reserve Bank, through the appropriate Reserve Bank acting as agent for Xxxxxx Xxx.

Reserve Banks as Agent. For each Regular Certificate, the appropriate Reserve Bank shall be considered to be acting as the agent of Xxxxxx Mae Xxx in providing to and conferring upon the owners of the Regular Certificates, as such owners shall appear on the records of such Reserve Bank, the substantive rights and benefits which are provided for herein for Holders of such Certificates. Accordingly, the substantive effect of all provisions herein providing rights and benefits to Holders of such Regular Certificates, including, without limitation, provisions relating to distributions, voting and notices, shall apply to such record owners on the books of the Reserve Bank, through the appropriate Reserve Bank acting as agent for Xxxxxx XxxMae.

Reserve Banks as Agent. For each Regular Certificate, the appropriate Reserve Bank shall be considered to be acting as the agent of Xxxxxx Mae in providing to and conferring upon the owners of the Regular Certificates, as such owners shall appear on the records of such Reserve Bank, the substantive rights and benefits which are provided for herein for Holders of such Certificates. Accordingly, the substantive effect of all provisions herein providing rights and benefits to Holders of such Regular Certificates, including, without limitation, provisions relating to distributions, voting and notices, shall apply to such record owners on the books of the Reserve Bank, through the appropriate Reserve Bank acting as agent for Xxxxxx Xxx.

Reserve Banks as Agent. For each Certificate, the appropriate Reserve Bank shall be considered to be acting as the agent of Xxxxxx Mae Xxx in providing to and conferring upon the owners of the Certificates, as such owners shall appear on the records of such Reserve Bank, the substantive rights and benefits which are provided for herein for Holders of such Certificates. Accordingly, the substantive effect of all provisions herein providing rights and benefits to Holders of such Certificates, including, without limitation, provisions relating to distributions, voting and notices, shall apply to such record owners on the books of the Reserve Bank, through the appropriate Reserve Bank acting as agent for Xxxxxx XxxMae.

Reserve Banks as Agent. For each Regular Certificate, the appropriate Reserve Bank shall be considered to be acting as the agent of Xxxxxx Mae Xxx in providing to and conferring upon the owners of the Regular Certificates, as such owners shall appear on the records of such Reserve Bank, the substantive rights and benefits which that are provided for herein for Holders of such Certificates. Accordingly, the substantive effect of all provisions herein providing rights and benefits to Holders of such Certificates, including, without limitation, provisions relating to distributions, voting and notices, shall apply to such record owners on the books of the Reserve Bank, through the appropriate Reserve Bank acting as agent for Xxxxxx XxxMae.

Reserve Banks as Agent. For each Group 4 Certificate, other than the appropriate Reserve Bank shall be considered to be acting as the agent of Xxxxxx Mae in providing to and conferring upon the owners of the Certificates, as such owners shall appear on the records of such Reserve Bank, the substantive rights and benefits which that are provided for herein for Holders of such Certificates. Accordingly, the substantive effect of all provisions herein providing rights and benefits to Holders of such Certificates, including, without limitation, provisions relating to distributions, voting and notices, shall apply to such record owners on the books of the Reserve Bank, through the appropriate Reserve Bank acting as agent for Xxxxxx Xxx.

Reserve Banks as Agent. For each Fed Book-Entry Certificate, the appropriate Reserve Bank shall be considered to be acting as the agent of Xxxxxx Mae in providing to and conferring upon the owners of the such Certificates, as such owners shall appear on the records of such Reserve Bank, the substantive rights and benefits which are provided for herein for Holders of such Certificates. Accordingly, the substantive effect of all provisions herein providing rights and benefits to Holders of such Certificates, including, without limitation, provisions relating to distributions, voting and notices, shall apply to such record owners on the books of the Reserve Bank, through the appropriate Reserve Bank acting as agent for Xxxxxx Xxx.

Reserve Banks as Agent. For each Fed Book-Entry Certificate, the appropriate Reserve Bank shall be considered to be acting as the agent of Xxxxxx Mae Xxx in providing to and conferring upon the owners of the such Certificates, as such owners shall appear on the records of such Reserve Bank, the substantive rights and benefits which are provided for herein for Holders of such Certificates. Accordingly, the substantive effect of all provisions herein providing rights and benefits to Holders of such Certificates, including, without limitation, provisions relating to distributions, voting and notices, shall apply to such record owners on the books of the Reserve Bank, through the appropriate Reserve Bank acting as agent for Xxxxxx XxxMae.

Reserve Banks as Agent. For each Certificate, the appropriate Reserve Bank shall be considered to be acting as the agent of Xxxxxx Mae in providing to and conferring upon the owners of the Certificates, as such owners shall appear on the records of such Reserve Bank, the substantive rights and benefits which are provided for herein for Holders of such the Certificates. Accordingly, the substantive effect of all provisions herein providing rights and benefits to Holders of such the Certificates, including, without limitation, provisions relating to distributions, voting and notices, shall apply to such record owners on the books of the Reserve Bank, through the appropriate Reserve Bank acting as agent for Xxxxxx Xxx.

Reserve Banks as Agent. For each Regular Certificate, the appropriate Reserve Bank shall be considered to be acting as the agent of Xxxxxx Mae Xxx in providing to and conferring upon the owners of the Regular Certificates, as such owners shall appear on the records of such Reserve Bank, the substantive rights and benefits which are provided for herein for Holders of such Certificates. Accordingly, the substantive effect of all provisions herein providing rights and benefits to Holders of such Regular Certificates, including, without limitation, provisions relating to distributions, voting and notices, shall apply to such record owners on the books of the Reserve Bank, through the appropriate Reserve Bank acting as agent for Xxxxxx XxxMae.

Reserve Banks as Agent. For each Group 4 Certificate, other than the appropriate Reserve Bank shall be considered to be acting as the agent of Xxxxxx Mae in providing to and conferring upon the owners of the such Certificates, as such owners shall appear on the records of such Reserve Bank, the substantive rights and benefits which that are provided for herein for Holders of such Certificates. Accordingly, the substantive effect of all provisions herein providing rights and benefits to Holders of such Certificates, including, without limitation, provisions relating to distributions, voting and notices, shall apply to such record owners on the books of the Reserve Bank, through the appropriate Reserve Bank acting as agent for Xxxxxx Xxx.

Reserve Banks as Agent. For each Regular Certificate, the appropriate Reserve Bank shall be considered to be acting as the agent of Xxxxxx Mae Xxx in providing to and conferring upon the owners of the Regular Certificates, as such owners shall appear on the records of such Reserve Bank, the substantive rights and benefits which are provided for herein for Holders of such Certificates. Accordingly, the substantive effect of all provisions herein providing rights and benefits to Holders of such Regular Certificates, including, without limitation, provisions relating to distributions, voting and notices, shall apply to such record owners on the books of the Reserve Bank, through the appropriate Reserve Bank acting as agent for Xxxxxx Xxx.