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:
Appears in 4 contracts
Samples: Trust Agreement (SLM Funding LLC), Trust Agreement (SLM Funding Corp), Trust Agreement (SLM Funding Corp)
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:
Appears in 2 contracts
Samples: Trust Agreement (SLM Funding LLC), Trust Agreement (SLM Funding LLC)
