Borrower Benefits. The Lender agrees to provide incentives described in this Section 12 to Borrowers of Consolidation Loans made under the RWCL Program to pay their Loans in a timely manner.
Borrower Benefits. The parties acknowledge and agree that the RWPCL Program does not and will not offer, provide, or otherwise make available any borrower benefits programs of any kind or nature whatsoever, including without limitation interest rate reductions, fee reduction(s), rebate or credit of any amount(s), or other incentives with respect to the Borrower's Loan(s), unless and until the parties hereafter amend this Agreement to provide for such borrower benefit programs.
Borrower Benefits. Xxxxxx Xxx leads the industry with benefits that reward customers for repaying their loans on time, and make federal student loans more affordable. These benefits are available for loans originated, sold to and serviced by Xxxxxx Mae throughout repayment.
Borrower Benefits. The Bank agrees to provide incentives to Borrowers of Consolidation Loans made under the RWCL Program to pay their Loans in a timely manner by reducing the interest rate on the Loan after 60 consecutive on-time payments according to the following schedule: For Balances of: Rate Reduction: ---------------- --------------- $10,000 to $15,000 25 basis points (1/4%) $15,001 to $20,000 50 basis points (1/2%) $20,001 to $25,000 75 basis points (3/4%) $25,001 and greater 100 basis points (1%) No additional benefits shall be extended to those Borrowers selecting electronic drafting of their payments. Borrowers must maintain on-time payments to continue to qualify for the rate reduction. "On-time" payment is considered to be one that is made prior to the 15th day of delinquency. The Servicer may reinstate disqualified Borrowers that lose their benefits due to Servicer error. The Servicer shall communicate to the Borrowers when they have achieved the rate reduction, at disqualification and at reinstatement, as applicable.
Borrower Benefits. The Bank agrees to provide incentives as described in this Section 12 to Borrowers of Consolidation Loans made under the RWCL Program to pay their Loans in a timely manner. Under Borrower Incentive Plan A, after making the first 60 monthly scheduled payments on- time, Borrowers shall receive an interest rate reduction up to but not greater than the following on the then remaining balance of the Loan: Original Loan Balance Interest Rate Reduction --------------------- ----------------------- $10,000 to $15,000 1/4 % $15,001 to $20,000 1/2 % $20,001 to $25,000 3/4 % $25,001 and greater 1% Under Borrower Incentive Plan B, after making the first 36 monthly payments on-time, Borrowers shall receive an interest rate reduction up to but not greater than 1 % on the then remaining balance of the Loan regardless of the Original Loan Balance. Under any Incentive Plan, Borrowers must maintain on- time scheduled payments to continue to qualify for the rate reduction. "On- time" scheduled payment is considered to be one that is made prior to the 15th day of delinquency. Regardless of Incentive Plan, CFS may but is not required to offer Borrowers a .25% rate reduction upon the commencement of electronic drafting for Consolidation Loan payment purposes. Said .25% rate reduction, if offered, shall only apply so long as the Borrower maintains electronic drafting for making scheduled payments and is in active repayment on their Loan. CFS will provide Bank with written notification at least 30 days prior to the effective date for switching between Incentive Plans or any variation in the rates or terms of the effective Incentive Plan up to the maximum borrower discount in such plan. The Application receipt date shall, except to the extent the Borrower directs otherwise in writing during the 30-day period preceding a "changeover" of plans, determine which Incentive Plan terms apply to such Application. CFS shall have sole and exclusive responsibility and liability for accurately communicating to each Borrower which Incentive Plan terms apply to the Borrower's Loan. CFS shall clearly and conspicuously xxxx the electronic and/or paper records supporting each Loan to identify the Incentive Plan terms that apply to such Loan and ensure communication of the same to the designated Servicer. The Servicer shall reinstate disqualified Borrowers that lose their benefits due to Servicer error. The Servicer shall communicate to the Borrowers when they have achieved the rate reduction, at d...
Borrower Benefits. The Purchaser acknowledges that the Seller currently grants certain interest rate reductions and other benefits to certain Borrowers as set forth in Exhibit E (collectively, the “Borrower Benefits”). The Purchaser agrees to honor all Borrower Benefits identified in Exhibit E, including those Borrower Benefits currently earned by Borrowers and those for which the Borrowers are eligible but which are not yet earned, with the Purchaser being responsible for the cost of such Borrower Benefits for periods after the applicable Purchase Date. Except for any applicable Seller’s Policies and Servicing Practices required to be maintained in accordance with Section 5.02(a), the Purchaser shall not be obligated to maintain any borrower benefits other than those described in Exhibit E.
Borrower Benefits. The Loan Transfer Schedule attached as Schedule I to the applicable Bxxx of Sale identifies each Student Loan to which any borrower benefit program or interest rate reduction program applies. The precise terms of such programs are set forth in Exhibit D attached hereto. No borrower benefits or interest rate reductions have accrued and not been paid and other than as set forth on Exhibit D (as such Exhibit may be amended from time to time by agreement between Seller and Purchaser), no other borrower benefits apply.
Borrower Benefits. The borrower benefits for the Bank One Campus Loan Program for the 2005-06 program year, shall, at a minimum, include the following:
Borrower Benefits. A new Section 5.01(d) is hereby added to the Note Purchase Agreement to read as follows: "The borrower benefits upon repayment for Seasoned Loans, on terms no less favorable for the borrower than those set forth in the Program Guidelines in effect at the time the loan was originated, will continue to inure to the benefit of borrowers after the securitization of such Seasoned Loans hereunder."
Borrower Benefits. Borrower Benefits may include, but not be limited to, moving services, telephone and Internet services, insurance programs, credit card offerings, home improvement products, a custom developed gift points program and other new products and services which may be developed from time to time. The Program may contain information, help tips, and advertising.
