Consolidation Loans. A Term for a Loan will end on the same day as the current Term for any other Loan. On the last day of those Terms, those Loans will be consolidated and treated as one Loan.
Consolidation Loans. The parties to this Agreement, to the extent applicable, hereby acknowledge and agree that, solely for purposes of allocating consolidation loans that relate to Access Loans among lenders, pursuant to Section 8.1 of the 1996-1998 Coordination Agreement, Section 8.1 of the 1993-1995 Coordination Agreement, Section 8.1 of the 1992 Coordination Agreement and any similar provision in any similar Coordination Agreement with respect to subsequent academic years, KBNA, shall be deemed to be the owner of, and lender on, all Financed Student Loans.
Consolidation Loans. During the Non-Competition Period, and subject to the terms of any applicable loan sale agreement between any member of the Navient Group and any member of the SLM BankCo Group:
(i) If any member of the Navient Group or Effective Time Xxxxxx Xxx (other than Xxxxxx Mae Bank) purchased or purchases a loan from any member of the SLM BankCo Group, the SLM BankCo Group may not solicit a consolidation loan from the same borrower (a “customer”) even if the SLM BankCo Group makes a new Private Education Loan or Permitted Government Education Loan after the date the prior loan was purchased by the Navient Group; provided, however, that if the SLM BankCo Group complies with the second and third sentences of this Section 5.4(d)(i), making a consolidation loan to such customer shall not constitute a breach of this Agreement. If the SLM BankCo Group makes a consolidation loan to such customer within three years of the date the loan(s) were acquired from Xxxxxx Xxx Bank or any other member of the SLM BankCo Group by the Navient Group or Effective Time Xxxxxx Mae (other than Xxxxxx Xxx Bank), whether such acquisition occurred before or after the Effective Time), SLM BankCo shall present an option to the Navient Group to purchase such loan within 90 days of the date the consolidation loan was made, at a price of 100% of the principal balance plus 100% of the accrued and unpaid interest (“Par”). If Navient (or another member of the Navient Group) does not purchase the loan within 60 days of SLM BankCo’s request, then within the next 30 days SLM BankCo (or its designee within the SLM BankCo Group) will refund the premium paid on any of the underlying loan(s) that were owned by a member of the Navient Group based on the following schedule: if the consolidation loan is made (A) within the first year following the purchase, 88% of the premium will be refunded, (B) in the second year following purchase, 82% of the premium will be refunded, and (C) in the third year, 75% of the premium will be refunded.
(ii) If any member of the SLM BankCo Group sells a loan to any member of the Navient Group (including any entity that becomes a member of the Navient Group after the Effective Time), the Navient Group may not solicit or make a consolidation loan to that customer that includes other loans of such customer that are held by the SLM BankCo Group; provided, however, that if the Navient Group complies with the second, third and fourth sentences of this Section 5.4(d)(i), making a conso...
Consolidation Loans. 55 ARTICLE XI Miscellaneous..................................................55
Consolidation Loans. Notwithstanding the preceding paragraphs of this subsection, any Federal Direct Con- solidation loan for which the application is received on or after February 1, 1999, and be- fore July 1, 2006, shall bear interest at an an- nual rate on the unpaid principal balance of the loan that is equal to the lesser of—
(i) the weighted average of the interest rates on the loans consolidated, rounded to the nearest higher one-eighth of one per- cent; or
(ii) 8.25 percent.
Consolidation Loans. Three Dollars and Seventy-Five Cents ($3.75) per account per month.
Consolidation Loans. [ ] loans with aggregate principal balances of [ ] were originated during related Collection Period; withdrawal from Collateral Reinvestment Account to fund origination of Consolidation Loans during related Collection Period: [ ]
Consolidation Loans. If two or more Interest Periods:
(a) relate to Loans made to the same Borrower; and
(b) end on the same date, those Loans will, be consolidated into, and treated as, a single Loan on the last day of the Interest Period.
Consolidation Loans. Subsequent to the date which is 90 days after the Loan Purchase Date with respect to the each sale of FFELP Loans, neither the Seller nor any of its affiliates shall, directly or indirectly, without the Purchaser’s prior written consent, either make or attempt to make Consolidation Loans to any borrower which consolidates any FFELP Loans owned by or on behalf of the Purchaser or any of its affiliates. Neither the Seller nor any of its affiliates shall use or transfer to any other person or entity information with respect to borrowers on FFELP Loans purchased by Purchaser hereunder.
Consolidation Loans. Each of PHEAA and EFS, to the extent applicable, acknowledge and agree that solely for purposes of allocating consolidation loans that relate to Access Loans among lenders pursuant to Section 8.1 of the 1996-1998 Coordination Agreement, Section 8.1 of the 1993-1995 Coordination Agreement, Section 8.1 of the 1992 Coordination Agreement and any similar provision in any similar Agreement with respect to subsequent academic years, Key Bank USA shall be deemed to be the owner of, and lender on, all loans in the Trust Student Loan Portfolio.
