Common use of Temporary Credit and Liquidity Facility Program Clause in Contracts

Temporary Credit and Liquidity Facility Program. Under the Temporary Credit and Liquidity Facility Program, Transaction Loss will be calculated for each Temporary Credit and Liquidity Facility upon the last to occur of: (1) the date the GSE has no further obligation under the Temporary Credit and Liquidity Facility; (2) the date all Bank Bonds, if any, are paid in full, remarketed or redeemed; or (3) twelve (12) months after the first to occur of: (A) a Credit Advance remains unreimbursed; (B) a Bank Bond is not paid or redeemed when due; or (C) the GSE causes the acceleration, redemption or mandatory tender of the Bonds upon the occurrence of an Event of Default under any of the Transaction Documents.

Temporary Credit and Liquidity Facility Program. Under the Temporary Credit and Liquidity Facility Program, Transaction Loss will be calculated for each Temporary Credit and Liquidity Facility upon the last to occur of: (1) the date the GSE has no further obligation under the Temporary Credit and Liquidity Facility; (2) the date all Bank Bonds, if any, are paid in full, remarketed or redeemed; or (3) twelve (12) months after the first to occur of: (A) a Credit Advance remains unreimbursed; (B) a Bank Bond is not paid or redeemed when duedue and payable at maturity; or (C) the GSE causes the acceleration, redemption or mandatory tender of the Bonds upon the occurrence of an Event of Default under any of the Transaction Documents.