ACTIONS BY ELIGIBLE LENDER TRUSTEE. SECTION 4.1 Prior Notice to the Holder of the Excess Distribution Certificate With Respect to Certain Matters 11 SECTION 4.2 Action with Respect to Sale of the Trust Student Loans 11 SECTION 4.3 Action with Respect to Bankruptcy 11 SECTION 4.4 Restrictions 11
ACTIONS BY ELIGIBLE LENDER TRUSTEE. SECTION 4.1 PRIOR NOTICE TO THE HOLDER OF THE EXCESS DISTRIBUTION CERTIFICATE WITH RESPECT TO CERTAIN MATTERS. With respect to the following matters, the Eligible Lender Trustee shall not take action unless at least 30 days before the taking of such action, the Eligible Lender Trustee shall have notified the holder of the Excess Distribution Certificate and each of the Rating Agencies in writing of the proposed action and the holder shall not have notified the Eligible Lender Trustee in writing prior to the 30th day after such notice is given that it has withheld consent or provided alternative direction:
(a) the initiation of any material claim or lawsuit by the Trust (except claims or lawsuits brought in connection with the collection of the Trust Student Loans) and the compromise of any material action, claim or lawsuit brought by or against the Trust (except with respect to the aforementioned claims or lawsuits for collection of Trust Student Loans);
(b) the amendment of the Indenture by a supplemental indenture in circumstances where the consent of any class of Noteholders is required; or
(c) the amendment of the Indenture by a supplemental indenture in circumstances where the consent of any class of Noteholder is not required and such amendment materially adversely affects the interest of the holder of the Excess Distribution Certificate.
ACTIONS BY ELIGIBLE LENDER TRUSTEE. SECTION 4.1 Prior Notice to the Holder of the Excess Distribution Certificate With Respect to Certain Matters.................................................................................. 10 SECTION 4.2 Action with Respect to Sale of the Trust Student Loans............................................ 11 SECTION 4.3 Action with Respect to Bankruptcy................................................................. 11 SECTION 4.4 Restrictions...................................................................................... 11
ACTIONS BY ELIGIBLE LENDER TRUSTEE. SECTION 4.1 Prior Notice to the Holder of the Excess Distribution Certificate With Respect to Certain Matters...
SECTION 4.2 Action with Respect to Sale of the Trust Student Loans...
ACTIONS BY ELIGIBLE LENDER TRUSTEE. SECTION 4.1 PRIOR NOTICE TO THE HOLDER OF THE EXCESS DISTRIBUTION CERTIFICATE WITH RESPECT TO CERTAIN MATTERS. With respect to the following matters, the Eligible Lender Trustee shall not take action unless at least 30 days before the taking of such action, the Eligible Lender Trustee shall have notified the holder of the Excess Distribution Certificate and each of the Rating Agencies in writing of the proposed action and the holder of the Excess Distribution Certificate shall not have notified the Eligible Lender Trustee in writing prior to the 30th day after such notice is given that it has withheld consent or provided alternative direction:
(a) the initiation of any material claim or lawsuit by the Trust (except claims or lawsuits brought in connection with the collection of the Trust Student Loans) and the compromise of any material action, claim or lawsuit brought by or against the Trust (except with respect to the aforementioned claims or lawsuits for collection of Trust Student Loans);
(b) the amendment of the Indenture by a supplemental indenture in circumstances where the consent of any class of Noteholders is required;
(c) the amendment of the Indenture by a supplemental indenture in circumstances where the consent of any class of Noteholder is not required and such amendment materially adversely affects the interests of the holder of the Excess Distribution Certificate; or
(d) the amendment of the Interest Rate Cap Agreement or any Swap Agreement in circumstances where the consent of any class of Noteholders is required or in circumstances where the consent of Noteholders is not required but where such amendment materially adversely affects the interests of the holder of the Excess Distribution Certificate.
ACTIONS BY ELIGIBLE LENDER TRUSTEE. 11
SECTION 4.1 Prior Notice to the Excess Distribution Certificateholder With Respect to Certain Matters 11 SECTION 4.2 Action with Respect to Sale of the Trust Student Loans 12 SECTION 4.3 Action with Respect to Bankruptcy 12 SECTION 4.4 Restrictions 12 ARTICLE V APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 12 SECTION 5.1 Application of Trust Funds 12 SECTION 5.2 Method of Payment 12 SECTION 5.3 No Segregation of Moneys; No Interest 13 SECTION 5.4 Reports to the Excess Distribution Certificateholder, the Internal Revenue Service and Others 13
ACTIONS BY ELIGIBLE LENDER TRUSTEE. SECTION 4.1 Prior Notice to the Excess Distribution Certificateholder With Respect to Certain Matters........... 9
ACTIONS BY ELIGIBLE LENDER TRUSTEE. SECTION 4.01. Prior Notice to Certificateholders with Respect to Certain Matters................ 14 SECTION 4.02. Action by Certificateholders with Respect to Certain Matters..................... 15 SECTION 4.03. Action by Certificateholders with Respect to Bankruptcy.......................... 15 SECTION 4.04. Restrictions on Certificateholders' Power.......................................... 15 SECTION 4.05. Majority Control........................................... 15 ARTICLE V Application of Trust Funds; Certain Duties
ACTIONS BY ELIGIBLE LENDER TRUSTEE. Prior Notice to Company with Respect to Certain Matters......................................5 SECTION 4.02. Action by Company with Respect to Bankruptcy.................................................7 SECTION 4.03. Restrictions on Company's Power..............................................................7
ACTIONS BY ELIGIBLE LENDER TRUSTEE
