Common use of Termination of the Trust Fund Clause in Contracts

Termination of the Trust Fund. Section 9.01 of the Trust Agreement is restated in its entirety as follows: "The respective obligations and responsibilities of Xxxxxx Mac and the Trustee created hereby shall terminate upon the distribution to all Holders of all amounts required to be distributed hereunder upon (i) the repurchase by Xxxxxx Mac of all Qualified Loans and REO Property remaining in the Trust Fund at the Termination Price, (ii) the final payment of the last Qualified Loan and/or REO Property remaining in the Trust Fund; or (iii) distribution by Xxxxxx Mac pursuant to the Xxxxxx Mac Guarantee on the Final Distribution Date for the Class of Certificates having the latest Final Distribution Date of an amount sufficient to reduce the Class Certificate Principal Balance of such Class to zero; provided, however, that in no event shall any trust created hereby continue beyond the expiration of 21 years from the death of the survivor of the descendants of Xxxxxx X. Xxxxxxx, the late ambassador of the United States of America to the Court of St. James's, living on the Cut-Off Date. The right of Xxxxxx Mac to repurchase all Qualified Loans and REO Property in the Trust Fund pursuant to clause (i) above shall be subject to the aggregate Scheduled Principal Balances of the Qualified Loans being less than the Termination Percentage of the Scheduled Principal Balances thereof as of the Cut-Off Date. Any such repurchase shall take place on a Distribution Date for any then outstanding Class (regardless of whether such Distribution Date constitutes a Distribution Date for all such Classes of Certificates), and the proceeds of any such repurchase shall be distributed to Holders of the applicable Classes of Certificates on such Distribution Date, pro rata, in the first instance in respect of accrued interest and then, as a distribution of principal. In connection with any such termination, Xxxxxx Mac shall make available to financial publications and electronic services notice for the benefit of Holders of Certificates to the effect that the final distribution will be made on the Distribution Date therein specified to Certificateholders of record on the applicable Record Date."

Termination of the Trust Fund. Section 9.01 of the Trust Agreement is restated in its entirety as follows: "The respective obligations and responsibilities of Xxxxxx Mac and the Trustee created hereby shall terminate upon the distribution to all Holders of all amounts required to be distributed hereunder upon (i) the repurchase by Xxxxxx Mac of all Qualified Loans and REO Property remaining in the Trust Fund at the Termination Price, ; (ii) the final payment of the last Qualified Loan and/or REO Property remaining in the Trust Fund; or (iii) distribution by Xxxxxx Mac pursuant to the Xxxxxx Mac Guarantee on the Final Distribution Date for the Class of Certificates having the latest Final Distribution Date of an amount sufficient to reduce the Class Certificate Principal Balance of such Class to zero; provided, however, that in no event shall any trust created hereby continue beyond the expiration of 21 years from the death of the survivor of the descendants of Xxxxxx X. Xxxxxxx, the late ambassador of the United States of America to the Court of St. James's, living on the Cut-Off Date. The right of Xxxxxx Mac to repurchase all Qualified Loans and REO Property in the Trust Fund pursuant to clause (i) above shall be subject to the aggregate Scheduled Principal Balances of the Qualified Loans being less than the Termination Percentage of the Scheduled Principal Balances thereof as of the Cut-Off Date. Any such repurchase shall take place on a Distribution Date for any then outstanding Class (regardless of whether such Distribution Date constitutes a Distribution Date for all such Classes of Certificates), and the proceeds of any such repurchase shall be distributed to Holders of the applicable Classes of Certificates on such Distribution Date, pro rata, in the first instance in respect of accrued interest and then, as a distribution of principal. In connection with any such termination, Xxxxxx Mac shall make available to financial publications and electronic services notice for the benefit of Holders of Certificates to the effect that the final distribution will be made on the Distribution Date therein specified to Certificateholders of record on the applicable Record Date."

Termination of the Trust Fund. Section 9.01 of the Trust Agreement is restated in its entirety as follows: "The respective obligations and responsibilities of Xxxxxx Mac and the Trustee created hereby shall terminate upon the distribution to all Holders of all amounts required to be distributed hereunder upon (i) the repurchase by Xxxxxx Mac of all Qualified Loans and REO Property remaining in the Trust Fund at the Termination Price, (ii) the final payment of the last Qualified Loan and/or REO Property remaining in the Trust Fund; or (iii) distribution by Xxxxxx Mac pursuant to the Xxxxxx Mac Guarantee on the Final Distribution Date for the Class of Certificates having the latest Final Distribution Date of an amount sufficient to reduce the Class Certificate Principal Balance of such Class to zero; provided, however, that in no event shall any trust created hereby continue beyond the expiration of 21 years from the death of the survivor of the descendants of Xxxxxx X. Xxxxxxx, the late ambassador of the United States of America to the Court of St. James's, living on the Cut-Off Date. The right of Xxxxxx Mac to repurchase all Qualified Loans and REO Property in the Trust Fund pursuant to clause (i) above shall be subject to the aggregate Scheduled Principal Balances of the Qualified Loans being less than the Termination Percentage of the Scheduled Principal Balances thereof as of the Cut-Off Date. Any such repurchase shall take place on a Distribution Date for any then outstanding Class (regardless of whether such Distribution Date constitutes a Distribution Date for all such Classes of Certificates), and the proceeds of any such repurchase shall be distributed to Holders of the applicable Classes of Certificates on such Distribution Date, pro rata, in the first instance in respect of accrued interest and then, as a distribution of principal. In connection with any such termination, Xxxxxx Mac shall make available to financial publications and electronic services notice for the benefit of Holders of Certificates to the effect that the final distribution will be made on the Distribution Date therein specified to Certificateholders of record on the applicable Record Date."" * * * * * * * * * * *

Termination of the Trust Fund. Section 9.01 of the (a) The Trust Agreement is restated in its entirety as follows: "The respective obligations and responsibilities of Xxxxxx Mac and the Trustee created hereby Fund shall terminate be terminated upon the distribution to all Holders earliest of all amounts required to be distributed hereunder upon (i) the repurchase by Xxxxxx Mac payment in full of all Qualified Loans and REO Property remaining in the Trust Fund at the Termination PriceCertificates pursuant to Section 3.05 hereof, (ii) the final payment termination of all of the last Qualified Loan and/or REO Property remaining in the Trust Fund; Underlying Trusts pursuant to Section 6.02 hereof, or (iii) distribution by Xxxxxx Mac pursuant to the Xxxxxx Mac Guarantee on the Final Distribution Date for the Class of Certificates having the latest Final Distribution Date of an amount sufficient to reduce the Class Certificate Principal Balance of such Class to zero; provided, however, date that in no event shall any trust created hereby continue beyond the expiration of 21 is twenty-one (21) years from the death of the survivor of the descendants of Xxxxxx X. Xxxxxxx, the late ambassador of the United States of America to the Court of St. James'sQueen Elizabeth II, living on thx xxxx xxxxxf. (b) The Trustee shall give notice (a "Notice of Termination") of the Cut-Off Payment Date on which the Trustee anticipates that the final payment will be made to the Certificateholders. Such Notice of Termination shall be mailed by the Trustee to affected Certificateholders at their addresses shown in the Certificate Register as soon as practicable, but in any event, not more than thirty days, and not less than ten days, prior to the Anticipated Termination Date. The right notice mailed by the Trustee to affected Certificateholders shall: (i) specify the Anticipated Termination Date on which the final payment is anticipated to be made to Holders of Xxxxxx Mac Certificates of the Classes specified therein; (ii) specify the amount of any such final payment, if known; and (iii) state that the final payment to repurchase all Qualified Loans Certificateholders will be made only upon presentation and REO Property in surrender of Certificates at the office of the Trustee therein specified. If the Trust Fund pursuant to clause (i) above shall be subject to is not terminated on the aggregate Scheduled Principal Balances of the Qualified Loans being less than the Anticipated Termination Percentage of the Scheduled Principal Balances thereof as of the Cut-Off Date. Any such repurchase shall take place on a Distribution Date for any then outstanding Class reason, the Trustee shall promptly mail notice thereof to each affected Certificateholder. (regardless c) Upon presentation and surrender of whether the Certificates by the Certificateholders on the Termination Date, the Trustee shall distribute to the Certificateholders the amounts otherwise distributable on such Distribution Payment Date constitutes a Distribution pursuant to Section 3.05(a). Any funds not distributed on the Termination Date for all such Classes because of Certificates), and the proceeds failure of any such repurchase Certificateholders to tender their Certificates shall be distributed to Holders set aside and held in trust for the account of the applicable Classes appropriate non-tendering Certificateholders, whereupon the Trust Fund shall terminate. If any Certificates as to which notice of Certificates on the Termination Date has been given pursuant to this Section 6.01 shall not have been surrendered for cancellation within six months after the time specified in such Distribution Datenotice, pro ratathe Trustee shall mail a second notice to the remaining Certificateholders, at their last addresses shown in the first instance Certificate Register, to surrender their Certificates for cancellation in order to receive, from such funds held, the final payment with respect thereto. If within one year after the second notice any Certificate shall not have been surrendered for cancellation, the Trustee shall directly or through an agent, take reasonable steps to contact the remaining Certificateholders concerning surrender of accrued interest their Certificates. The costs and thenexpenses of maintaining such funds and of contacting Certificateholders shall be paid out of the assets which remain held. If within two years after the second notice any Certificates shall not have been surrendered for cancellation, as a distribution of principal. In connection with any the Trustee shall segregate all amounts distributable to the Holders thereof and shall thereafter hold such termination, Xxxxxx Mac shall make available to financial publications and electronic services notice amounts uninvested for the benefit of Holders such Holders. No interest shall accrue or be payable to any Certificateholder on any amount held as a result of Certificates such Certificateholder's failure to the effect that the surrender its Certificate(s) for final distribution will be made on the Distribution Date therein specified to Certificateholders of record on the applicable Record Datepayment thereof in accordance with this Section 6.01."

Termination of the Trust Fund. Section 9.01 of the (a) The Trust Agreement is restated in its entirety as follows: "The respective obligations and responsibilities of Xxxxxx Mac and the Trustee created hereby Fund shall terminate be terminated upon the distribution to all Holders earliest of all amounts required to be distributed hereunder upon (i) the repurchase by Xxxxxx Mac payment in full of all Qualified Loans and REO Property remaining in the Trust Fund at the Termination PriceCertificates pursuant to Section 3.05 hereof, (ii) the final payment termination of all of the last Qualified Loan and/or REO Property remaining in the Trust Fund; Underlying Trusts pursuant to Section 6.02 hereof, or (iii) distribution by Xxxxxx Mac pursuant to the Xxxxxx Mac Guarantee on the Final Distribution Date for the Class of Certificates having the latest Final Distribution Date of an amount sufficient to reduce the Class Certificate Principal Balance of such Class to zero; provided, however, date that in no event shall any trust created hereby continue beyond the expiration of 21 is twenty-one (21) years from the death of the survivor of the descendants of Xxxxxx Josexx X. Xxxxxxx, the xxe late ambassador of the United States of America to the Court of St. James's, living on the Cut-Off date hereof. (b) The Trustee shall give notice (a "Notice of Termination") of the Payment Date on which the Trustee anticipates that the final payment will be made to the Certificateholders. Such Notice of Termination shall be mailed by the Trustee to affected Certificateholders at their addresses shown in the Certificate Register as soon as practicable, but in any event, not more than [_____ days, and not less than ___ days], prior to the Anticipated Termination Date. The right notice mailed by the Trustee to affected Certificateholders shall: (i) specify the Anticipated Termination Date on which the final payment is anticipated to be made to Holders of Xxxxxx Mac Certificates of the Classes specified therein; (ii) specify the amount of any such final payment, if known; and (iii) state that the final payment to repurchase all Qualified Loans Certificateholders will be made only upon presentation and REO Property in surrender of Certificates at the office of the Trustee therein specified. If the Trust Fund pursuant to clause (i) above shall be subject to is not terminated on the aggregate Scheduled Principal Balances of the Qualified Loans being less than the Anticipated Termination Percentage of the Scheduled Principal Balances thereof as of the Cut-Off Date. Any such repurchase shall take place on a Distribution Date for any then outstanding Class reason, the Trustee shall promptly mail notice thereof to each affected Certificateholder. (regardless c) Upon presentation and surrender of whether the Certificates by the Certificateholders on the Termination Date, the Trustee shall distribute to the Certificateholders the amounts otherwise distributable on such Distribution Payment Date constitutes a Distribution pursuant to Section 3.05(a). Any funds not distributed on the Termination Date for all such Classes because of Certificates), and the proceeds failure of any such repurchase Certificateholders to tender their Certificates shall be distributed to Holders set aside and held in trust for the account of the applicable Classes appropriate non-tendering Certificateholders, whereupon the Trust Fund shall terminate. If any Certificates as to which notice of Certificates on the Termination Date has been given pursuant to this Section 6.01 shall not have been surrendered for cancellation within [six months] after the time specified in such Distribution Datenotice, pro ratathe Trustee shall mail a second notice to the remaining Certificateholders, at their last addresses shown in the first instance Certificate Register, to surrender their Certificates for cancellation in order to receive, from such funds held, the final payment with respect thereto. If within [___ year] after the second notice any Certificate shall not have been surrendered for cancellation, the Trustee shall directly or through an agent, take reasonable steps to contact the remaining Certificateholders concerning surrender of accrued interest their Certificates. The costs and thenexpenses of maintaining such funds and of contacting Certificateholders shall be paid out of the assets which remain held. If within [___ years] after the second notice any Certificates shall not have been surrendered for cancellation, as a distribution of principal. In connection with any the Trustee shall segregate all amounts distributable to the Holders thereof and shall thereafter hold such termination, Xxxxxx Mac shall make available to financial publications and electronic services notice amounts uninvested for the benefit of Holders such Holders. No interest shall accrue or be payable to any Certificateholder on any amount held as a result of Certificates such Certificateholder's failure to the effect that the surrender its Certificate(s) for final distribution will be made on the Distribution Date therein specified to Certificateholders of record on the applicable Record Datepayment thereof in accordance with this Section 6.01."

Termination of the Trust Fund. Section 9.01 of the Trust Agreement is restated in its entirety as follows: "The respective obligations and responsibilities of Xxxxxx Mac and the Trustee created hereby shall terminate upon the distribution to all Holders of all amounts required to be distributed hereunder upon (i) the repurchase by Xxxxxx Mac of all Qualified Loans Loans, QMBS and REO Property remaining in the Trust Fund at the Termination Price, ; (ii) the final payment of the last Qualified Loan Loan, QMBS and/or REO Property remaining in the Trust Fund; or (iii) distribution by Xxxxxx Mac pursuant to the Xxxxxx Mac Guarantee on the Final Distribution Date for the Class of Certificates having the latest Final Distribution Date of an amount sufficient to reduce the Class Certificate Principal Balance of such Class to zero; provided, however, that in no event shall any trust created hereby continue beyond the expiration of 21 years from the death of the survivor of the descendants of Xxxxxx X. Xxxxxxx, the late ambassador of the United States of America to the Court of St. James's, living on the Cut-Off Date. The right of Xxxxxx Mac to repurchase all Qualified Loans Loans, QMBS and REO Property in the Trust Fund pursuant to clause (i) above shall be subject to the aggregate of the Scheduled Principal Balances of the Qualified Loans and the outstanding principal balance of the QMBS being less than the Termination Percentage of the aggregate of the Scheduled Principal Balances thereof of the Qualified Loans as of the Cut-Off off Date and the outstanding principal balance of the QMBS as of the Closing Date. Any such repurchase shall take place on a Distribution Date for any then outstanding Class (regardless of whether such Distribution Date constitutes a Distribution Date for all such Classes of Certificates)Class, and the proceeds of any such repurchase shall be distributed to Holders of the applicable Classes of Certificates on such Distribution Date, pro rata, in the first instance in respect of accrued interest and then, as a distribution of principal. In connection with any such termination, Xxxxxx Mac shall make available to financial publications and electronic services notice for the benefit of Holders of Certificates to the effect that the final distribution will be made on the Distribution Date therein specified to Certificateholders Holders of record on the applicable Record Date."

Termination of the Trust Fund. Section 9.01 of the Trust Agreement is restated in its entirety as follows: "The respective obligations and responsibilities of Xxxxxx Farmer Mac and the Trustee created hereby shall terminate upon the upxx xxx distribution to all Holders of all amounts required to be distributed hereunder upon (i) the repurchase by Xxxxxx Farmer Mac of all Qualified Loans and REO Property remaining in the xx xxe Trust Fund at the Termination Price, ; (ii) the final payment of the last Qualified Loan and/or REO Property remaining in the Trust Fund; or (iii) distribution by Xxxxxx Farmer Mac pursuant to the Xxxxxx Farmer Mac Guarantee on the Final Fxxxx Distribution Date for the Class xxx Xxass of Certificates having the latest Final Distribution Date of an amount sufficient to reduce the Class Certificate Principal Balance of such Class to zero; provided, however, that in no event shall any trust created hereby continue beyond the expiration of 21 years from the death of the survivor of the descendants of Xxxxxx X. XxxxxxxJoseph P. Kennedy, the late ambassador of the United States of America to the Xxxxxxx xx xhe Court of St. James's, living on the Cut-Off Date. The right of Xxxxxx Farmer Mac to repurchase all Qualified Loans and REO Property Prxxxxxx in the Trust Fund pursuant to clause (i) above shall be subject to the aggregate Scheduled Principal Balances of the Qualified Loans being less than the Termination Percentage of the Scheduled Principal Balances thereof as of the Cut-Off Date. Any such repurchase shall take place on a Distribution Date for any then outstanding Class (regardless of whether such Distribution Date constitutes a Distribution Date for all such Classes of Certificates), and the proceeds of any such repurchase shall be distributed to Holders of the applicable Classes of Certificates on such Distribution Date, pro rata, in the first instance in respect of accrued interest and then, as a distribution of principal. In connection with any such termination, Xxxxxx Farmer Mac shall make available to financial publications and publicationx xxx electronic services notice for the benefit of Holders of Certificates to the effect that the final distribution will be made on the Distribution Date therein specified to Certificateholders of record on the applicable Record Date."

Termination of the Trust Fund. Section 9.01 of the Trust Agreement is restated in its entirety as follows: "The respective obligations and responsibilities of Xxxxxx Farmer Mac and the Trustee created hereby shall terminate upon the upxx xxx distribution to all Holders of all amounts required to be distributed hereunder upon (i) the repurchase by Xxxxxx Farmer Mac of all Qualified Loans and REO Property remaining in the xx xxe Trust Fund at the Termination Price, (ii) the final payment of the last Qualified Loan and/or REO Property remaining in the Trust Fund; or (iii) distribution by Xxxxxx Farmer Mac pursuant to the Xxxxxx Farmer Mac Guarantee on the Final Distribution Xxxxxibution Date for the Class of xx Certificates having the latest Final Distribution Date of an amount sufficient to reduce the Class Certificate Principal Balance of such Class to zero; provided, however, that in no event shall any trust created hereby continue beyond the expiration of 21 years from the death of the survivor of the descendants of Xxxxxx X. XxxxxxxJoseph P. Kennedy, the late ambassador of the United States of America to the xx Xxxxxxx xx xxx Court of St. James's, living on the Cut-Off Date. The right of Xxxxxx Farmer Mac to repurchase all Qualified Loans and REO Property in the Propertx xx xhe Trust Fund pursuant to clause (i) above shall be subject to the aggregate Scheduled Principal Balances of the Qualified Loans being less than the Termination Percentage of the Scheduled Principal Balances thereof as of the Cut-Off Date. Any such repurchase shall take place on a Distribution Date for any then outstanding Class (regardless of whether such Distribution Date constitutes a Distribution Date for all such Classes of Certificates), and the proceeds of any such repurchase shall be distributed to Holders of the applicable Classes of Certificates on such Distribution Date, pro rata, in the first instance in respect of accrued interest and then, as a distribution of principal. In connection with any such termination, Xxxxxx Farmer Mac shall make available to financial publications and electronic anx xxxxtronic services notice for the benefit of Holders of Certificates to the effect that the final distribution will be made on the Distribution Date therein specified to Certificateholders of record on the applicable Record Date.". * * * * * * * * * * *