Common use of Sale of PCs Clause in Contracts

Sale of PCs. Xxxxxxx Mac's sale of a PC pursuant to this Agreement will be deemed to occur upon the date of settlement and payment for such PC and shall constitute a sale, assignment, transfer and conveyance to the Holder of a pro rata undivided interest in the Mortgages constituting the related PC Pool. Xxxxxxx Mac will be bound by all of the terms and conditions of this Agreement at such time as Xxxxxxx Xxx xxxxx a PC to a Holder. Upon settlement of and payment for a PC, a Holder will, by virtue thereof, acknowledge, accept and agree to be bound by all of the terms and conditions of this Agreement.

Sale of PCs. Xxxxxxx Mac's sale of a PC pursuant to this Agreement will be deemed to occur upon the date of settlement and payment for such PC and shall constitute a sale, assignment, transfer and conveyance to the Holder of a pro rata undivided beneficial ownership interest in the Mortgages constituting the related PC Pool. Xxxxxxx Mac will be bound by all of the terms and conditions of this Agreement at such time as Xxxxxxx Xxx xxxxx a PC to a Holder. Upon settlement of and payment for a PC, a Holder will, by virtue thereof, acknowledge, accept and agree to be bound by all of the terms and conditions of this Agreement.

Sale of PCs. Xxxxxxx Freddie Mac's sale of a PC pursuant to this Agreement will be deemed to occur upon the date of settlement and payment for such PC and shall constitute a sale, assignment, transfer and conveyance to the Holder of a pro rata undivided beneficial ownership interest in the Mortgages constituting the related PC Pool. Xxxxxxx Freddie Mac will be bound by all of the terms and conditions of this Agreement at such time as Xxxxxxx Xxx xxxxx a PC to a Holder. Upon settlement of and payment for a PC, a Holder will, by virtue thereof, acknowledge, accept and agree to be bound by all of the terms and conditions of this Agreement.