Loss Sharing. Treasury and the GSEs shall share Program Losses, if any, realized on the principal of the Program Bonds represented by the Custodial Receipts related to the GSE Securities issued under the New Issue Bond Program in accordance with and only to the extent set forth in Schedule C of this Agreement. Any losses incurred with respect to accrued but unpaid interest on any such Program Bonds are not subject to sharing with the GSEs and will be borne entirely by Treasury.
Appears in 2 contracts
Sources: New Issue Bond Program Agreement (Federal National Mortgage Association Fannie Mae), New Issue Bond Program Agreement (Federal Home Loan Mortgage Corp)
Loss Sharing. Treasury and the GSEs shall share Program Losses, if any, realized on the principal of the Program Bonds represented by the Custodial Receipts related to the GSE 9 Securities issued under the New Issue Bond Program in accordance with and only to the extent set forth in Schedule C of this Agreement. Any losses incurred with respect to accrued but unpaid interest on any such Program Bonds are not subject to sharing with the GSEs and will be borne entirely by Treasury.
Appears in 1 contract
Sources: New Issue Bond Program Agreement (Federal Home Loan Mortgage Corp)