Common use of Application of Sale Proceeds Clause in Contracts

Application of Sale Proceeds. The proceeds of any sale of the Trust Estate, together with any funds at the time held by the Indenture Trustee and not otherwise appropriated, shall be applied by the Indenture Trustee as set forth in Section 6.02 hereof, and then to the Issuer or whomsoever shall be lawfully entitled thereto.

Appears in 2 contracts

Samples: Indenture of Trust (Nelnet Inc), Indenture of Trust (Nelnet Education Loan Funding Inc)

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Application of Sale Proceeds. The proceeds of any sale of the Trust Estate, together with any funds at the time held by the Indenture Trustee and not otherwise appropriated, shall be applied by the Indenture Trustee as set forth in Section 6.02 hereof, and then to the Issuer or whomsoever shall be lawfully entitled thereto.

Appears in 1 contract

Samples: Indenture of Trust (Union Financial Services I Inc)

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Application of Sale Proceeds. The proceeds of any sale of the Trust Estate, together with any funds at the time held by the Indenture Trustee and not otherwise appropriated, shall be applied by the Indenture Trustee as set forth in Section 6.02 hereof5.2, and then to the Issuer or whomsoever shall be lawfully entitled thereto.

Appears in 1 contract

Samples: Indenture of Trust (Education Capital I LLC)

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