Administrator Default. If any one of the following events (an “Administrator Default”) shall occur and be continuing: (a) (i) in the event that daily deposits into the Collection Account are not required, any failure by the Administrator to deliver to the Indenture Trustee for deposit in the Trust Accounts any Available Funds required to be paid on or before the Business Day immediately preceding any Distribution Date; or
Appears in 31 contracts
Samples: Administration Agreement (Navient Student Loan Trust 2015-3), Administration Agreement (Navient Student Loan Trust 2015-2), Administration Agreement (Navient Student Loan Trust 2015-1)
Administrator Default. If any one of the following events (an “Administrator Default”) shall occur and be continuing:
(a) (i) in the event that daily deposits into the Collection Account are not required, any failure by the Administrator to deliver to the Indenture Trustee for deposit in the Trust Accounts any Available Funds required to be paid on or before the Business Day immediately preceding any Distribution Monthly Servicing Payment Date; , or
Appears in 23 contracts
Samples: Administration Agreement (SLM Student Loan Trust 2006-8), Administration Agreement (SLM Student Loan Trust 2006-6), Administration Agreement (SLM Student Loan Trust 2006-5)
Administrator Default. If any one of the following events (an “"Administrator Default”") shall occur and be continuing:
(a) (i) in the event that daily deposits into the Collection Account are not required, any failure by the Administrator to deliver to the Indenture Trustee Administrator for deposit in the Trust Accounts any Available Funds required to be paid on or before the Business Day immediately preceding any Distribution Monthly Servicing Payment Date; , or
Appears in 8 contracts
Samples: Administration Agreement (SLC Student Loan Trust 2006-2), Administration Agreement (SLC Student Loan Trust 2005-3), Administration Agreement (SLC Student Loan Receivables I Inc)
Administrator Default. If any one of the following events (an “Administrator Default”) shall occur and be continuing:
(a) (i) in the event that daily deposits into the Collection Account are not required, any failure by the Administrator to deliver to the Indenture Trustee for deposit in the Trust Accounts any Available Funds required to be paid on or before the Business Day immediately preceding any Monthly Allocation Date or Quarterly Distribution Date, as applicable; or
Appears in 7 contracts
Samples: Administration Agreement (SLM Student Loan Trust 2008-9), Administration Agreement (SLM Student Loan Trust 2009-1), Administration Agreement (SLM Student Loan Trust 2008-8)
Administrator Default. If any one of the following events (an “Administrator Default”) shall occur and be continuing:
(a) (i) in the event that daily deposits into the Collection Account are not required, any failure by the Administrator to deliver to the Indenture Trustee for deposit in the Trust Accounts any Available Funds required to be paid on or before the Business Day immediately preceding any Monthly Servicing Payment Date or Distribution Date; , as applicable, or
Appears in 3 contracts
Samples: Administration Agreement (SLM Funding LLC), Administration Agreement (SLM Funding LLC), Administration Agreement (SLM Funding LLC)
Administrator Default. If any one of the following events (an “"Administrator Default”") shall occur and be continuing:
(a) (i) in the event that daily deposits into the Collection Account are not required, any failure by the Administrator to deliver to the Indenture Trustee for deposit in the Trust Accounts any Available Funds required to be paid on or before the Business Day immediately preceding any Distribution Monthly Servicing Payment Date; , or
Appears in 3 contracts
Samples: Administration Agreement (SLM Funding LLC), Administration Agreement (SLM Funding LLC), Administration Agreement (SLM Funding LLC)
Administrator Default. If any one of the following events (an “"Administrator Default”") shall occur and be continuing:
(a) (i) in the event that daily deposits into the Collection Account are not required, any failure by the Administrator to deliver to the Indenture Trustee for deposit in the Trust Accounts any Available Funds required to be paid on or before the Business Day immediately preceding any Monthly Servicing Payment Date or Distribution Date; , as applicable, or
Appears in 3 contracts
Samples: Administration Agreement (SLM Funding LLC), Administration Agreement (SLM Funding LLC), Administration Agreement Supplement (SLM Funding LLC)
Administrator Default. If any one of the following events (an “Administrator Default”) shall occur and be continuing:
(a) (i) in the event that daily deposits into the Collection Account are not required, any failure by the Administrator to deliver to the Indenture Trustee for deposit in the Trust Accounts any Available Funds required to be paid on or before the Business Day immediately preceding any Monthly Allocation Date or Quarterly Distribution Date; , as applicable, or
Appears in 2 contracts
Samples: Administration Agreement (SLM Student Loan Trust 2006-7), Administration Agreement (SLM Student Loan Trust 2007-5)
Administrator Default. If any one of the following events (an “Administrator Default”) shall occur and be continuing:
(a) (i) in the event that daily deposits into the Collection Account are not required, any failure by the Administrator to deliver to the Indenture Trustee for deposit in the Trust Accounts any Available Funds required to be paid on or before the Business Day immediately preceding any Monthly Allocation Date or Quarterly Distribution Date; or, as applicable, or Administration Agreement
Appears in 1 contract
Samples: Administration Agreement (SLM Student Loan Trust 2007-4)
Administrator Default. If any one of the following events (an “"Administrator Default”") shall occur and be continuing:
(a) (i) in the event that daily deposits into the Collection Account are not required, any failure by the Administrator to deliver to the Indenture Trustee for deposit in the Trust Accounts any Available Funds required to be paid on or before the Business Day immediately preceding any Monthly Servicing Payment Date or Distribution Date; or, as applicable, or (ii) any failure by the Administrator to direct the Indenture
Appears in 1 contract
Administrator Default. If any one of the following events (an “Administrator Default”) shall occur and be continuing:
(a) (i) in the event that daily deposits into the Collection Account are not required, any failure by the Administrator to deliver to the Indenture Trustee for deposit in the Trust Administration Agreement Accounts any Available Funds required to be paid on or before the Business Day immediately preceding any Monthly Allocation Date or Quarterly Distribution Date, as applicable; or
Appears in 1 contract
Samples: Administration Agreement (SLM Student Loan Trust 2008-6)
