Common use of Termination Upon Final Payment Clause in Contracts

Termination Upon Final Payment. Each Pass-Through Pool is irrevocable and will terminate only in accordance with the terms of this Agreement. Except as provided in Section 8.01, with respect to each Pass-Through Pool, Xxxxxxx Mac’s and the Trustee’s obligations and responsibilities under this Agreement shall terminate as to a Pass-Through Pool and its Holders upon the payment to such Holders of all amounts of principal and interest due the Holders in respect of such Pass-Through Certificate; provided, however, that in no event shall any Pass-Through Pool 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 to the Court of St. James’s, living on the date hereof.

Termination Upon Final Payment. Each Pass-Through Pool is irrevocable and will terminate only in accordance with the terms of this Agreement. Except as provided in Section 8.01, with respect to each Pass-Through Pool, Xxxxxxx Freddie Mac’s and the Trustee’s obligations and responsibilities under this Agreement shall terminate as to a Pass-Through Pool and its Holders upon the payment to such Holders of all amounts of principal and interest due the Holders in respect of such Pass-Through Certificate; provided, however, that in no event shall any Pass-Through Pool 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 to the Court of St. James’s, living on the date hereof.