Xxxxxx Xxx Certificates definition

Xxxxxx Xxx Certificates means the Xxxxxx Xxx Certificates purchased by the Trustee backed by 2024 Series C Mortgage Loans.

Xxxxxx Xxx Certificates. The “fully modified pass-through” mortgage backed securities guaranteed as to timely payment of principal and interest by the Government National Mortgage Association included in the Lower Tier REMIC and identified in the Mortgage Security Schedule.

Xxxxxx Xxx Certificates means guaranteed mortgage pass-through certificates issued by Xxxxxx Mae either in certified or book-entry form.

Examples of Xxxxxx Xxx Certificates in a sentence

• The par amount of such 2024 Series D Xxxxxx Xxx Certificates shall be paid from the 2024 Series D subaccount of the Acquisition Account and any accrued interest on such 2024 Series D Xxxxxx Xxx Certificates shall be paid from the 2024 Series D subaccount of the Revenue Fund.

• Such 2024 Series D Xxxxxx Xxx Certificates shall be purchased on or after the Closing Date at a purchase price of par plus accrued interest thereon.

• The 2024 Series D Bonds are authorized to finance (i) the purchase of 2024 Series D Xxxxxx Xxx Certificates backed by 2024 Series D Mortgage Loans for Eligible Borrowers purchasing Residential Housing, (ii) the purchase of Second Mortgage Loans and (iii) to pay the costs of issuance of the 2024 Series D Bonds.

• The portion of the proceeds of the sale and delivery of the 2024 Series D Bonds deposited into the 2024 Series D subaccount of the Acquisition Account pursuant to Section 4.1 hereof shall be applied to purchase (i) 2024 Series D Xxxxxx Xxx Certificates backed by 2024 Series D Mortgage Loans and (ii) up to $4,750,000 of Second Mortgage Loans.