Common use of Consideration for Transfer of Transferred Assets Clause in Contracts

Consideration for Transfer of Transferred Assets. The consideration to be provided by the Trust to the Depositor and the Depositor Eligible Lender Trustee for the Transfer of the Transferred Assets shall be payment of the Purchase Price. The Trust Eligible Lender Trustee shall deposit a portion of the Purchase Price equivalent to the origination fees owing to the United States Department of Education with respect to the Financed Student Loans that are part of the Transferred Assets into a separate account. Such funds shall be used to pay such origination fees when due. The remainder of the Purchase Price shall be paid to the Depositor.