Initial Securitization Fee definition
Initial Securitization Fee means the Initial Securitization Fee payable by each HFA to each GSE, which amount is set forth on Schedule A to the related Placement Agreement.
Initial Securitization Fee. An amount calculated in each instance in (a), (b) and (c), as applicable, based on the aggregate original principal amount of all Program Bonds issued by the HFA under the New Issue Bond Program as follows:
Initial Securitization Fee means the Initial Securitization Fee payable by the HFA to each GSE, which such amount is set forth on Schedule A to the Placement Agreement. “Legal Deposit” means the legal deposit in the amount of $25,000 wired by the HFA to the Closing Agent pursuant to the Participation Letter, evidencing the intent of the HFA to participate in the New Issue Bond Program. “New Issue Bond Program” means the program pursuant to which Treasury will purchase GSE Securities pursuant to the New Issue Bond Program Agreement. “New Issue Bond Program Agreement” means the New Issue Bond Program Agreement, dated as of December 9, 2009, among Treasury, ▇▇▇▇▇▇ Mae and ▇▇▇▇▇▇▇ Mac. “Official Statement” means the Official Statement of the HFA delivered pursuant to Section 5.1(a)(iv) of the Placement Agreement pertaining to the Program Bonds being delivered to the GSEs in exchange for the GSE Securities. “Opinion of Counsel” means a written opinion of counsel, who may be outside or salaried counsel of the party causing the opinion to be delivered, acceptable in any event to (a) each of the parties to which such opinion is addressed and (b) each of the parties entitled to rely on such opinion. “Participation Letter” means the participation letter from the HFA to ▇▇▇▇▇▇ Mae and ▇▇▇▇▇▇▇ Mac acknowledging the HFA’s intent to participate in the HFA Initiative. “Placement Agreement” means the Placement Agreement, dated December 9, 2009, by and among ▇▇▇▇▇▇ Mae, ▇▇▇▇▇▇▇ Mac and the HFA, which provides for the exchange of the Program Bonds for the GSE Securities. “Pre-Settlement Conditions” has the meaning given to such term in Section 3(d)(v) of this Agreement. “Private Placement Memorandum” means a private placement memorandum of a GSE relating to the GSE Securities. “Program Bonds” means, collectively, the single-family mortgage revenue bonds and/or multifamily mortgage revenue bonds issued by the HFA and identified in Schedule B to the Placement Agreement. “Purchase Price” means the aggregate purchase price paid by Treasury for the GSE Securities, which is specified in the Settlement Statement.