Cohort Default Rate. Permit the Cohort Default Rate for any School to exceed: (i) the maximum percentage permitted by the DOE for the applicable three consecutive cohort fiscal years in order for such school to participate in Title IV Programs or (ii) the maximum percentage permitted by the DOE for the applicable cohort fiscal year in order for such school to participate in Title IV Programs. For purposes of this Section 7.11(d), a “cohort fiscal year” is a twelve month period commencing on October 1 of a year and ending on September 30 of the following year.
Cohort Default Rate. Section 2.20 of the Company Disclosure Letter sets forth the published and draft cohort default rate for the School, calculated by the DOE and issued to the School pursuant to 30 C.F.R. (S) 668.17 or a predecessor regulation, for the federal fiscal years September 30, 1994 through and including September 30, 1997. Such schedule is materially accurate in all respects. As of the date of this Agreement, neither the Company nor the School has received any notice from DOE or any guaranty agency as to the calculation or issuance of a published or draft cohort default rate for the School for the year ended September 30, 1998. The School has official cohort default rates of 25.0%, 15.6%, 2.8%, 12.5% and 28.57% on Federal Xxxxxxx Loans for award years, 1995, 1996, 1997, 1998 and 1999, respectively.
Cohort Default Rate. Permit the Cohort Default Rate for any School (i) with respect to any period prior to the release of official cohort default rates in approximately September 2014, to be equal to or greater than twenty-five percent (25%) for three consecutive federal fiscal years, (ii) with respect to the official three-year cohort default rates for federal fiscal year 2009, federal fiscal year 2010 and federal fiscal year 2011 and any three-year cohort default rates published thereafter, to be equal to or greater than thirty percent (30%) for three consecutive federal fiscal years or (iii) to exceed forty percent (40%) for any single federal fiscal year.
Cohort Default Rate. Schedule 4.9 attached hereto sets forth the published cohort default rate for the School, calculated by the DOE and issued to the School, for the federal fiscal years ending September 30, 1994 through September 30, 1996. To the Best of Seller's Knowledge, such schedule is materially accurate in all respects. Neither the School or Seller has received any notice as to the calculation or issuance of the cohort default rates for the School for the year ended September 30, 1997.
Cohort Default Rate. Schedule 5.07 attached hereto sets forth the cohort default rate for the School, calculated in the manner prescribed by the DOE, of all students attending the School receiving assistance pursuant to Title IV programs for the fiscal years 1996 through 2000. Such schedule is correct and accurate in all respects.
Cohort Default Rate. Permit the Cohort Default Rate for any School (as defined for DOE purposes) to equal or exceed 30% for any two consecutive federal fiscal years or to equal or exceed 40% for any one federal fiscal year, commencing with the Cohort Default Rate for the 2012 federal fiscal year, subject to the completion of a customary appeals process after the federal fiscal year.
Cohort Default Rate. 9 5.8 Title to the Purchased Assets........................... 9 5.9
Cohort Default Rate. Borrower agrees that its Cohort Default Rate as published by the United States Department of Education shall not exceed 25% for any two consecutive years.
Cohort Default Rate. The Disclosure Schedule lists and contains copies of the letters to each Acquired Corporation Institution from the Secretary of DOE notifying each of its official Cohort Default Rate for federal fiscal years 1993-1997, and of its preliminary Cohort Default Rate for federal fiscal year 1998. For each of the federal fiscal years 1993-1997, the official Cohort Default Rates for each Acquired Corporation Institution, as finally determined by the Secretary of DOE, did not exceed 25 percent, and the preliminary Cohort Default Rate for federal fiscal year 1998 for each Acquired Corporation Institution does not exceed 25 percent. None of these rates is the subject of an appeal or other proceeding before the DOE.
Cohort Default Rate. Permit the Cohort Default Rate for any School, for any applicable period, to exceed the limits established by the DOE that are used to determine eligibility to participate in various Title IV Programs or other programs under the Higher Education Act of 1965.
