AUTHORIZATION, TERMS AND ISSUANCE. SECTION 2.1. Authorization of Series 199_-_ Notes......................13 SECTION 2.2. Purposes..................................................14 SECTION 2.3. Terms of Series 199_-_ Notes Generally....................14 SECTION 2.4. Series 199_-_ Notes.......................................15 SECTION 2.5. Class Interest Rate.......................................19
AUTHORIZATION, TERMS AND ISSUANCE. SECTION 2.1. Authorization of Series 1997-2 Notes. There is hereby authorized the borrowing of funds, and to evidence such borrowing there are hereby authorized ten (10) Classes of Series 1997-2 Notes (collectively, the "Series 1997-2 Notes"), designated as (i)the "PNC Student Loan Trust I, Series 1997-2, Senior LIBOR Rate Class A-1 Asset Backed Notes" (the "Class A-1 Notes") in the aggregate principal amount of $90,000,000, (ii) the "PNC Student Loan Trust I, Series 1997-2, Senior Fixed Rate Class A-2 Asset Backed Notes" (the "Class A-2 Notes") in the aggregate principal amount of $107,000,000, (iii) the "PNC Student Loan Trust I, Series 1997-2, Senior Fixed Rate Class A-3 Asset Backed Notes" (the "Class A-3 Notes"), in the aggregate principal amount of $107,000,000, (iv) the "PNC Student Loan Trust I, Series 1997-2, Senior Fixed Rate Class A-4 Asset Backed Notes" (the "Class A-4 Notes"), in the aggregate principal amount of $102,000,000, (v) the "PNC Student Loan Trust I, Series 1997-2, Senior Fixed Rate Class A-5 Asset Backed Notes" (the "Class A-5 Notes"), in the aggregate principal amount of $94,000,000, (vi) the "PNC Student Loan Trust I, Series 1997-2, Senior Fixed Rate Class A-6 Asset Backed Notes" (the "Class A-6 Notes"), in the aggregate principal amount of $72,500,000, (vii) the "PNC Student Loan Trust I, Series 1997-2, Senior Fixed Rate Class A-7 Asset Backed Notes" (the "Class A-7 Notes"), in the aggregate principal amount of $121,000,000, (viii) the "PNC Student Loan Trust I, Series 1997-2, Senior LIBOR Rate Class A-8 Asset Backed Notes" (the "Class A-8 Notes"), in the aggregate principal amount of $175,000,000, (ix) the "PNC Student Loan Trust I, Series 1997-2, Senior LIBOR Rate Class A-9 Asset Backed Notes" (the "Class A-9 Notes"), in the aggregate principal amount of $125,450,000, (x) the "PNC Student Loan Trust I, Series 1997-2, Subordinate LIBOR Rate Class B Asset Backed Notes" (the "Class B Notes") in the aggregate principal amount of $36,050,000.
AUTHORIZATION, TERMS AND ISSUANCE. 9 Section 2.1. Authorization of 1999 Notes 9 Section 2.2. Purposes 9 Section 2.3. Terms of 1999 Notes Generally 9 Section 2.4. 1999 Notes 10 Section 2.5. Series Interest Rate 14 Section 2.6. Additional Provisions Regarding the Series Interest Rates on the 1999 Notes 26 Section 2.7. Qualifications of Market Agent 27 ARTICLE III. DISTRIBUTIONS 27 Section 3.1. Distributions of Interest and Principal 27 Section 3.2. Selection of Notes to Receive Payments of Principal 28 ARTICLE IV. MISCELLANEOUS 29 Section 4.1. Authority for This Second Terms Supplement 29 Section 4.2. Counterparts 29 Section 4.3. Second Terms Supplement Constitutes a Security Agreement 29 Section 4.4. Governing Law 29 Section 4.5. Ratification of Trust Agreement 29 Section 4.6. Recycling Period 29
AUTHORIZATION, TERMS AND ISSUANCE. 3 Section 2.1. Authorization of Notes.......................................................................3 Section 2.2. Purposes.....................................................................................3 Section 2.3. Terms of the Notes...........................................................................4 Section 2.4. Interest.....................................................................................4 Section 2.5. Determination of Interest....................................................................6 ARTICLE III PAYMENTS...............................................................................................7 Section 3.1. Payments of Interest and Principal...........................................................7 Section 3.2. Early Payment................................................................................7 ARTICLE IV MISCELLANEOUS...........................................................................................7 Section 4.1. Adoption of This Terms Supplement............................................................7 Section 4.2. Counterparts. ...............................................................................7 Section 4.3. Indenture Constitutes a Security Agreement...................................................7 Section 4.4. Governing Law................................................................................8 Section 4.5. Ratification of Indenture....................................................................8 EXHIBIT A Form of Senior LIBOR Rate Note EXHIBIT B Form of Subordinated LIBOR Rate Note EXHIBIT C Form of Trust Receipt and Certification SCHEDULE A Schedule of Financed Student Loans THIS TERMS SUPPLEMENT, dated as of ___________ 1, ____, between CRESTAR STUDENT LOAN TRUST ______, a Delaware business trust (the "Issuer") acting through _______________________________, a [national banking association], not in its individual capacity but solely as eligible lender trustee (the "Eligible Lender Trustee"), and _____________________, a New York banking corporation duly established, existing and authorized to accept and execute trusts of the character herein set out under and by virtue of the laws of the State of New York, with its principal corporate trust office in New York, New York (the "Indenture Trustee"), as Indenture Trustee under an Indenture dated as of _____________, 1998, as may be further amended and supplemented from time to time (the "Indenture"...
AUTHORIZATION, TERMS AND ISSUANCE. SECTION 2.1. AUTHORIZATION OF SERIES 1996-2 NOTES. There is hereby authorized the borrowing of funds, and to evidence such borrowing there is hereby authorized one Class of Series 1996-2 Notes (the "Series 1996-2 Notes"), designated the "ClassNotes Trust 1995-I Asset-Backed Notes, Series 1996-2, Class A-9" (the "Class A-9 Notes") in the aggregate principal amount of $140,000,000.
AUTHORIZATION, TERMS AND ISSUANCE. SECTION 2.1. AUTHORIZATION OF SERIES 199_-_ NOTES. There is hereby authorized the borrowing of funds, and to evidence such borrowing there are hereby authorized two Classes of Series 199_-_ Notes (collectively, the "Series 199_-_ Notes"), designated (i) the "[Trust 199_-_] Asset-Backed Notes, Series 199_-_, Class A-_" (the "Class A-_ Notes") in the aggregate principal amount of $___________ and (ii) the "ClassNotes Trust 1995-I Asset-Backed Notes, Series 199_- _, Class A-_" (the "Class A-_ Notes") in the aggregate principal amount of $51,000,000.
AUTHORIZATION, TERMS AND ISSUANCE. 9 Section 2.1 Authorization of 1998 Notes...........................9 Section 2.2 Purposes..............................................9 Section 2.3
AUTHORIZATION, TERMS AND ISSUANCE. SECTION 2.1. AUTHORIZATION OF SERIES 1996-2 CERTIFICATES. In consideration of the contribution by the Depositor of the Series 1996-2 Financed Student Loans, there is hereby authorized by the Trust, a single class of Series 1996-2 Certificates, designated as the ClassNotes Trust 1995-I, Series 1996-2 Certificates (the "Series 1996-2 Certificates") in the aggregate principal amount of $140,000,000.
AUTHORIZATION, TERMS AND ISSUANCE. 9 Section 2.1. Authorization of 2000 Notes 9 Section 2.2. Purposes 9 Section 2.3. Terms of 2000 Notes Generally 9 Section 2.4. 2000 Notes 10 Section 2.5. Series Interest Rate 14 Section 2.6. Additional Provisions Regarding the Series Interest Rates on the 2000 Notes 26 Section 2.7. Qualifications of Market Agent 27 ARTICLE III. DISTRIBUTIONS 27 Section 3.1. Distributions of Interest and Principal 27 Section 3.2. Selection of Notes to Receive Payments of Principal 28 ARTICLE IV. MISCELLANEOUS 29 Section 4.1. Authority for This Fourth Terms Supplement 29 Section 4.2. Counterparts 29 Section 4.3. Fourth Terms Supplement Constitutes a Security Agreement 29 Section 4.4. Governing Law 29 Section 4.5. Reports to Rating Agencies 29 Section 4.5. Ratification of Trust Agreement 29 Section 4.7. Recycling Period 29 XXXXXX XXXXX XXXXXXXXXX, xxxxx xx xx Xxxxx 0, 0000 xxxxxxx XXX XXXX., xx Indiana corporation (the "Issuer") acting through KEYBANK INDIANA, N.A. not in its individual capacity but solely as eligible lender trustee (the "Eligible Lender Trustee") pursuant to a certain trust agreement, dated as of May 15, 1998, by and between the Issuer and the Eligible Lender Trustee (the "Eligible Lender Trust Agreement"), and BANK ONE TRUST COMPANY, N.A. (successor to NBD Bank, N.A.), a national banking association, duly established, existing and authorized to accept and execute trusts of the character herein set out under and by virtue of the laws of the United States of America, with its designated trust office in Indianapolis, Indiana, (the "Trustee"), as Trustee under a Trust Agreement dated as of May 15, 1998, as amended and supplemented to the date hereof including by this Fourth Terms Supplement, by and between the Issuer and such Trustee (the "Trust Agreement").
AUTHORIZATION, TERMS AND ISSUANCE
