Common use of CHANGES IN THE AUCTION DATE Clause in Contracts

CHANGES IN THE AUCTION DATE. The applicable Broker-Dealer, and, if applicable, upon receipt of the opinion of counsel as required below, may specify a different Auction Date (but in no event more than five Business Days earlier) than the Auction Date that would otherwise be determined in accordance with the definition of "Auction Date" in Section 1.01 of this Appendix A-2 with respect to one or more specified Auction Periods in order to conform with then current market practice with respect to similar securities or to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date and the interest rate borne on the Auction Rate Notes. The applicable Broker-Dealer shall deliver a written direction to such change in the length of the Auction Date to the Issuer at least 14 days prior to the effective date of such change. If the Issuer shall have delivered such written direction of the applicable Broker-Dealer, such Broker-Dealer shall provide notice of its determination to specify an earlier Auction Date for one or more Auction Periods by means of a written notice delivered at least 10 days prior to the proposed changed Auction Date to the Indenture Trustee, the Auction Agent, the Issuer, each Rating Agency and the Clearing Agency. Such notice shall be substantially in the form of, or contain substantially the information contained in, Exhibit G attached hereto. In connection with any change described in this Section 2.02(h), the Auction Agent shall provide such further notice to such parties as is specified in Section 2.03 of the Auction Agent Agreement.

Appears in 4 contracts

Samples: Indenture (SLM Funding LLC), Indenture (SLM Funding LLC), Indenture (SLM Education Credit Funding LLC)

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CHANGES IN THE AUCTION DATE. The applicable Broker-Dealer, and, if applicable, upon receipt of the opinion of counsel as required below, may specify a different Auction Date (but in no event more than five Business Days earlier) than the Auction Date that would otherwise be determined in accordance with the definition of "β€œAuction Date" ” in Section 1.01 of this Appendix A-2 with respect to one or more specified Auction Periods in order to conform with then current market practice with respect to similar securities or to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date and the interest rate borne on the Auction Rate Notes. The applicable Broker-Dealer shall deliver a written direction to such change in the length of the Auction Date to the Issuer at least 14 days prior to the effective date of such change. If the Issuer shall have delivered such written direction of the applicable Broker-Dealer, such Broker-Dealer shall provide notice of its determination to specify an earlier Auction Date for one or more Auction Periods by means of a written notice delivered at least 10 days prior to the proposed changed Auction Date to the Indenture Trustee, the Auction Agent, the Issuer, each Rating Agency and the Clearing Agency. Such notice shall be substantially in the form of, or contain substantially the information contained in, Exhibit G attached hereto. In connection with any change described in this Section 2.02(h), the Auction Agent shall provide such further notice to such parties as is specified in Section 2.03 of the Auction Agent Agreement.

Appears in 4 contracts

Samples: Indenture (SLM Student Loan Trust 2007-5), Indenture (SLM Student Loan Trust 2006-7), Indenture (SLM Student Loan Trust 2007-4)

CHANGES IN THE AUCTION DATE. The applicable Broker-DealerMarket Agent, and, if applicable, upon receipt at the written direction of a Responsible Officer of the opinion of counsel as required belowRepresentative, may specify a different an earlier or later Auction Date (but in no event more than five Business Days earlier) than the Auction Date that would otherwise be determined in accordance with the definition of "Auction Date" in Section 1.01 Article I of this Appendix A-2 these Auction Procedures with respect to one or more specified Auction Periods in order to conform with then current market practice with respect to similar securities or to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date and the interest rate Class Remittance Rate borne on the a Class of Pool II Auction Rate NotesCertificates. The applicable Broker-Dealer Market Agent shall deliver a written direction request for consent to such change in the length of the Auction Date to the Issuer at least 14 Representative not less than three days nor more than 20 days prior to the effective date of such changechange together with a certificate demonstrating the need for change in reliance on such factors. If the Issuer shall have delivered such written direction of the applicable Broker-Dealer, such Broker-Dealer The Market Agent shall provide notice of its determination to specify an earlier Auction Date for one or more Auction Periods by means of a written notice delivered at least 10 days prior to the proposed changed Auction Date to the Indenture Trustee, the Auction Agent, the IssuerTrust, each Rating Agency the Representative and the Clearing AgencyDTC. Such notice shall be substantially in the form of, or contain substantially the information contained in, Exhibit G attached heretoAnnex C to these Auction Procedures. In connection with any change described in this Section 2.02(h)2.1.7, the Auction Agent shall provide such further notice to such parties as is specified in Section 2.03 2.5 of the Auction Agent Agreement.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Money Store Home Equity Corp), Pooling and Servicing Agreement (TMS Mortgage Inc)

CHANGES IN THE AUCTION DATE. The applicable Broker-Dealer, and, if applicable, upon receipt with the written consent of the opinion of counsel as required belowan Authorized Officer, may specify a different an earlier Auction Date (but in no event more than five Business Days earlier) than the Auction Date that would otherwise be determined in accordance with the definition of "Auction Date" in Section 1.01 of this Appendix A-2 B with respect to one or more specified Auction Periods in order to conform with then current market practice with respect to similar securities or to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date and the interest rate borne on the Auction Rate Notes. The applicable Broker-Dealer shall deliver a written direction request for consent to such change in the length of the Auction Date to the Issuer at least 14 days prior to the effective date of such change. If the Issuer shall have delivered such written direction of consent to the applicable Broker-Dealer, such Broker-Dealer shall provide notice of its determination to specify an earlier Auction Date for one or more Auction Periods by means of a written notice delivered at least 10 days prior to the proposed changed Auction Date to the Indenture Trustee, the Auction Agent, the Issuer, each Rating Agency and the Clearing AgencySecurities Depository. Such notice shall be substantially in the form of, or contain substantially the information contained in, Exhibit G H attached hereto. In connection with any change described in this Section 2.02(hsubsection (h), the Auction Agent shall provide such further notice to such parties as is specified in Section 2.03 2.06 of the Auction Agent Agreement.

Appears in 2 contracts

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

CHANGES IN THE AUCTION DATE. The applicable Broker-DealerMarket Agent, and, if applicable, upon receipt with the written consent of the opinion Administrator on behalf of counsel as required belowthe Issuer, may specify a different Auction Date (but in no event more than five Business Days earlier) earlier than the Auction Date that would otherwise be determined in accordance with the definition of "Auction Date" in Section 1.01 of this Appendix A-2 A) with respect to one or more specified Auction Periods in order to conform with then current market practice with respect to similar securities or to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date and the interest rate borne on the Auction Rate Notes. The applicable Broker-Dealer Market Agent shall deliver a written direction request for consent to such change in the length of the Auction Date to the Issuer Administrator at least 14 days prior to the effective date of such change. If the Issuer Administrator shall have delivered such written direction of consent to the applicable Broker-DealerMarket Agent, such Broker-Dealer the Market Agent shall provide notice of its determination to specify an earlier Auction Date for one or more Auction Periods by means of a written notice delivered at least 10 days prior to the proposed changed Auction Date to the Indenture Trustee, the Auction Agent, the Issuer, the Administrator, each Rating Agency and the Clearing AgencySecurities Depository. Such notice shall be substantially in the form of, or contain substantially the information contained in, Exhibit G attached hereto. In connection with any change described in this Section 2.02(h), the Auction Agent shall provide such further notice to such parties as is specified in Section 2.03 of the Auction Agent Agreement.

Appears in 2 contracts

Samples: Supplemental Indenture of Trust (Education Funding Capital Trust I), Supplemental Indenture of Trust (Education Funding Capital Trust I)

CHANGES IN THE AUCTION DATE. The applicable Broker-DealerMarket Agent, with the written consent of an Authorized Officer and, if applicable, upon receipt of the opinion of counsel Note Counsel as required below, may specify a different an earlier Auction Date (but in no event more than five Business Days earlier) than the Auction Date that would otherwise be determined in accordance with the definition of "Auction Date" in Section 1.01 of this Appendix A-2 B with respect to one or more specified Auction Periods in order to conform with then current market practice with respect to similar securities or to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date and the interest rate borne on the Auction Rate Notes. The applicable Broker-Dealer Market Agent shall deliver a written direction request for consent to such change in the length of the Auction Date to the Issuer at least 14 days prior to the effective date of such change. If the Issuer shall have delivered such written direction of consent to the applicable Broker-DealerMarket Agent, such Broker-Dealer the Market Agent shall provide notice of its determination to specify an earlier Auction Date for one or more Auction Periods by means of a written notice delivered at least 10 days prior to the proposed changed Auction Date to the Indenture Trustee, the Auction Agent, the Issuer, each Rating Agency and the Clearing AgencySecurities Depository. Such notice shall be substantially in the form of, or contain substantially the information contained in, Exhibit G J attached hereto. In connection with any change described in this Section 2.02(h), the Auction Agent shall provide such further notice to such parties as is specified in Section 2.03 of the Auction Agent Agreement.

Appears in 1 contract

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

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CHANGES IN THE AUCTION DATE. The applicable Broker-Dealer, and, if applicable, upon receipt of the opinion of counsel as required below, may specify a different Auction Date (but in no event more than five Business Days earlier) than the Auction Date that would otherwise be determined in accordance with the definition of "Auction Date" in Section 1.01 of this Appendix A-2 with respect to one or more specified Auction Periods in order to conform with then current market practice with respect to similar securities or to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date and the interest rate borne on the Auction Rate Notes. The applicable Broker-Dealer shall deliver a written direction to such change in the length of the Auction Date to the Issuer at least 14 days prior to the effective date of such change. If the Issuer shall have delivered such written direction of the applicable Broker-Dealer, such Broker-Dealer shall provide notice of its determination to specify an earlier Auction Date for one or more Auction Periods by means of a written notice delivered at least 10 days prior to the proposed changed Auction Date to the Indenture Trustee, the Auction Agent, the Issuer, each Rating Agency and the Clearing Agency. Such notice shall be substantially in the form of, or contain substantially the information contained in, Exhibit G attached hereto. In connection with any change described in this Section 2.02(h), the Auction Agent shall provide such further notice to such parties as is specified in Section 2.03 of the Auction Agent Agreement.

Appears in 1 contract

Samples: Indenture (SLM Education Credit Funding LLC)

CHANGES IN THE AUCTION DATE. The applicable Broker-DealerMarket Agent, with the written consent of an Authorized Officer and, if applicable, upon receipt of the opinion of counsel Note Counsel as required below, may specify a different an earlier Auction Date (but in no event more than five Business Days earlier) than the Auction Date that would otherwise be determined in accordance with the definition of "Auction Date" in Section 1.01 of this Appendix A-2 A with respect to one or more specified Auction Periods in order to conform with then current market practice with respect to similar securities or to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date and the interest rate borne on the Auction Rate Notes. The applicable Broker-Dealer Market Agent shall deliver a written direction request for consent to such change in the length of the Auction Date to the Issuer at least 14 days prior to the effective date of such change. If the Issuer shall have delivered such written direction of consent to the applicable Broker-DealerMarket Agent, such Broker-Dealer the Market Agent shall provide notice of its determination to specify an earlier Auction Date for one or more Auction Periods by means of a written notice delivered at least 10 days prior to the proposed changed Auction Date to the Indenture Trustee, the Auction Agent, the Issuer, each Rating Agency and the Clearing AgencySecurities Depository. Such notice shall be substantially in the form of, or contain substantially the information contained in, Exhibit G K attached hereto. In connection with any change described in this Section 2.02(h), the Auction Agent shall provide such further notice to such parties as is specified in Section 2.03 of the Auction Agent Agreement.

Appears in 1 contract

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

CHANGES IN THE AUCTION DATE. The applicable Broker-DealerMarket Agent, and, if applicable, upon receipt with the written consent of the opinion of counsel as required belowan Authorized Officer, may specify a different an earlier Auction Date (but in no event more than five Business Days earlier) than the Auction Date that would otherwise be determined in accordance with the definition of "Auction Date" in Section 1.01 1.1 of this Appendix A-2 I, or any applicable Trust Supplement, with respect to one or more specified Auction Periods in order to conform with then current market practice with respect to similar securities or to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date and the interest rate Certificate Rate borne on the Auction Rate NotesCertificates of the applicable Class. The applicable Broker-Dealer Market Agent shall deliver a written direction request for consent to such change in the length of the Auction Date to the Issuer at least 14 not less than three days nor more than 20 days prior to the effective date of such changechange together with a certificate demonstrating the need for change in reliance on such factors. If the Issuer shall have delivered such written direction of the applicable Broker-Dealer, such Broker-Dealer The Market Agent shall provide notice of its determination to specify an earlier Auction Date for one or more Auction Periods by means of a written notice delivered at least 10 days prior to the proposed changed Auction Date to the Indenture Eligible Lender Trustee, the Auction Agent, the Issuer, each Rating Agency Issuer and the Clearing AgencySecurities Depository. Such notice shall be substantially in the form of, or contain substantially the information contained in, Exhibit G attached heretoC to this Trust Agreement. In connection with any change described in this Section 2.02(h)2.2.2, the Auction Agent shall provide such further notice to such parties as is specified in Section 2.03 2.2 of the Auction Agent Agreement.

Appears in 1 contract

Samples: Trust Agreement (Transworld Insurance Co)

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