Common use of Consummation of Sale and Purchase Clause in Contracts

Consummation of Sale and Purchase. During the Supplemental Purchase Period with respect to the Additional Loans (and thereafter with respect to any Substituted Loans), the sale and purchase of Eligible Loans pursuant to an Additional Sale Agreement shall be consummated upon (i) the Purchaser’s receipt from the Seller of a fully executed copy of the related Additional Sale Agreement; and (ii) the payment by the Purchaser to the Seller of the related Purchase Price. Upon consummation, such sale and purchase shall be effective as of the date of the related Additional Xxxx of Sale. The Seller and the Purchaser shall use their best efforts to perform promptly their respective obligations pursuant to the related Additional Sale Agreement with respect to each Additional Loan.

Appears in 23 contracts

Samples: Initial Sale Agreement (SLM Student Loan Trust 2012-1), Initial Sale Agreement (SLM Student Loan Trust 2011-3), Initial Sale Agreement (SLM Funding LLC)

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Consummation of Sale and Purchase. During the Supplemental Purchase Period with respect to the Additional Loans (and thereafter with respect to any Substituted Loans), the sale and purchase of Eligible Loans pursuant to an Additional Sale Agreement shall be consummated upon (i) the Purchaser’s 's receipt from the Seller of a fully executed copy of the related Additional Sale Agreement; and (ii) the payment by the Purchaser to the Seller of the related Purchase Price. Upon consummation, such sale and purchase shall be effective as of the date of the related Additional Xxxx of Sale. The Seller and the Purchaser shall use their best efforts to perform promptly their respective obligations pursuant to the related Additional Sale Agreement with respect to each Additional Loan.

Appears in 18 contracts

Samples: Initial Sale Agreement (Navient Student Loan Trust 2014-1), Initial Sale Agreement (SLM Student Loan Trust 2014-2), Initial Sale Agreement (SLM Student Loan Trust 2014-1)

Consummation of Sale and Purchase. During the Supplemental Purchase Period with respect to the Additional Loans (and thereafter with respect to any Substituted Loans), the sale and purchase of Eligible Loans pursuant to an Additional Sale Agreement shall be consummated upon (i) the Purchaser’s 's receipt from the Seller of a fully executed copy of the related Additional Sale Agreement; and (ii) the payment by the Purchaser to the Seller of the related Purchase Price. Upon consummation, such sale and purchase shall be effective as of the date of the related Additional Xxxx Bxxx of Sale. The Seller and the Purchaser shall use their best efforts to perform promptly their respective obligations pursuant to the related Additional Sale Agreement with respect to each Additional Loan.

Appears in 9 contracts

Samples: Initial Sale Agreement (Navient Funding, LLC), Initial Sale Agreement (Navient Student Loan Trust 2014-8), Initial Sale Agreement (Navient Student Loan Trust 2014-4)

Consummation of Sale and Purchase. During the Supplemental Purchase Period with respect to the Additional Loans (and thereafter with respect to any Substituted Loans), the sale and purchase of Eligible Loans pursuant to an Additional Sale Agreement shall be consummated upon (i) the Purchaser’s receipt from the Seller of a fully executed copy of the related Additional Sale Agreement; and (ii) the payment by the Purchaser to the Seller of the related Purchase Price. Upon consummation, such sale and purchase shall be effective as of the date of the related Additional Xxxx Bxxx of Sale. The Seller and the Purchaser shall use their best efforts to perform promptly their respective obligations pursuant to the related Additional Sale Agreement with respect to each Additional Loan.

Appears in 4 contracts

Samples: Initial Sale Agreement (SLM Student Loan Trust 2005-9), Initial Sale Agreement (SLM Student Loan Trust 2006-3), Initial Sale Agreement (SLM Student Loan Trust 2006-6)

Consummation of Sale and Purchase. During the Supplemental Purchase Period or the Funding Period with respect to the Additional Loans (and thereafter with respect to any Substituted Loans), the sale and purchase of Eligible Loans pursuant to an Additional Sale Agreement shall be consummated upon (i) the Purchaser’s receipt from the Seller of a fully executed copy of the related Additional Sale Agreement; and (ii) the payment by the Purchaser to the Seller of the related Purchase Price. Upon consummation, such sale and purchase shall be effective as of the date of the related Additional Xxxx of Sale. The Seller and the Purchaser shall use their best efforts to perform promptly their respective obligations pursuant to the related Additional Sale Agreement with respect to each Additional Loan.

Appears in 2 contracts

Samples: Initial Sale Agreement (SLM Student Loan Trust 2005-6), Initial Sale Agreement (SLM Student Loan Trust 2008-6)

Consummation of Sale and Purchase. During the Supplemental Purchase Period with respect to the Additional Loans (and thereafter with respect to any Substituted Loans), the sale and purchase of Eligible Loans pursuant to an Additional Sale Agreement shall be consummated upon (i) the Purchaser’s receipt from the Seller of a fully executed copy of the related Additional Sale Agreement; and (ii) the payment by the Purchaser to the Seller of the related Purchase Price. Upon consummation, such sale and purchase shall be effective as of the date of the related Additional Xxxx of Sale. The Seller and the Purchaser shall use their best efforts to perform promptly their respective obligations pursuant to the related Additional Sale Agreement with respect to each Additional Loan.

Appears in 1 contract

Samples: Initial Sale Agreement (SLM Student Loan Trust 2005-3)

Consummation of Sale and Purchase. During the Supplemental Purchase Period with respect to the Additional Loans (and thereafter with respect to any Substituted Loans), the sale and purchase of Eligible Loans pursuant to an Additional Sale Agreement shall be consummated upon (i) the Purchaser’s receipt from the Seller of a fully executed copy of the related Additional Sale Sale Agreement Agreement; and (ii) the payment by the Purchaser to the Seller of the related Purchase Price. Upon consummation, such sale and purchase shall be effective as of the date of the related Additional Xxxx of Sale. The Seller and the Purchaser shall use their best efforts to perform promptly their respective obligations pursuant to the related Additional Sale Agreement with respect to each Additional Loan.

Appears in 1 contract

Samples: Initial Sale Agreement (SLM Student Loan Trust 2007-3)

Consummation of Sale and Purchase. During the Supplemental Purchase Period with respect to the Additional Loans (and thereafter with respect to any Substituted Loans), the sale and purchase of Eligible Loans pursuant to an Additional Sale Agreement shall be consummated upon (i) the Purchaser’s 's receipt from the Seller of a fully executed copy of the related Additional Sale Agreement; and (ii) the payment by the Purchaser to the Seller of the related Purchase Price. Upon consummation, such sale and purchase shall be effective as of the date of the related Additional Xxxx of Sale. The Seller and the Purchaser shall use their best efforts to perform promptly their respective obligations pursuant to the related Additional Sale Agreement with respect to each Additional Loan.

Appears in 1 contract

Samples: Initial Sale Agreement (SLM Funding LLC)

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Consummation of Sale and Purchase. During the Supplemental Purchase Period with respect to the Additional Loans (and thereafter with respect to any Substituted Loans), the sale and purchase of Eligible Loans pursuant to an Additional Sale Agreement shall be consummated upon (i) the Purchaser’s receipt from the Seller of a fully executed copy of the related Additional Sale Agreement; and (ii) the payment by the Purchaser to the Seller of the related Purchase Price. Upon consummation, such sale and purchase shall be effective as of the date of the related Additional Xxxx Bxxx of Sale. The Seller and the Purchaser shall use their best efforts to Sale Agreement perform promptly their respective obligations pursuant to the related Additional Sale Agreement with respect to each Additional Loan.

Appears in 1 contract

Samples: Initial Sale Agreement (SLM Student Loan Trust 2006-1)

Consummation of Sale and Purchase. During the Supplemental Purchase Period or the Funding Period with respect to the Additional Loans (and thereafter with respect to any Substituted Loans), the sale and purchase of Eligible Loans pursuant to an Additional Sale Agreement shall be consummated upon (i) the Purchaser’s receipt from the Seller of a fully executed copy of the related Additional Sale Agreement; and (ii) the payment by the Purchaser to the Seller of the related Purchase Price. Upon consummation, such sale and purchase shall be effective as of the date of the related Additional Xxxx of Sale. The Seller and the Sale Agreement Purchaser shall use their best efforts to perform promptly their respective obligations pursuant to the related Additional Sale Agreement with respect to each Additional Loan.

Appears in 1 contract

Samples: Initial Sale Agreement (SLM Student Loan Trust 2007-5)

Consummation of Sale and Purchase. During the Supplemental Purchase Period with respect to the Additional Loans (and thereafter with respect to any Substituted Loans), the sale and purchase of Eligible Loans pursuant to an Additional Sale Agreement shall be consummated upon (i) the Purchaser’s receipt from the Seller of a fully executed copy of the related Additional Sale Agreement; and (ii) the payment by the Purchaser to the Seller of the related Purchase Price. Upon consummation, such sale and purchase shall be effective as of the date of the related Additional Xxxx Bxxx of Sale. The Seller and the Purchaser shall use their best efforts to perform promptly their respective obligations pursuant to the related Additional Sale Agreement with respect to each Additional Loan.

Appears in 1 contract

Samples: Initial Sale Agreement (SLM Student Loan Trust 2005-4)

Consummation of Sale and Purchase. During the Supplemental Purchase Period or the Funding Period with respect to the Additional Loans (and thereafter with respect to any Substituted Loans), the sale and purchase of Eligible Loans pursuant to an Additional Sale Agreement shall be consummated upon (i) the Purchaser’s receipt from the Seller of a fully executed copy of the related Additional Sale Agreement; and (ii) the payment by the Purchaser to the Seller of the related Purchase Price. Upon consummation, such sale and purchase shall be effective as of the date of the related Additional Xxxx of Sale. The Seller and the Purchaser shall use their best efforts to perform promptly their respective obligations pursuant to the related Additional Sale Agreement with respect to each Additional Loan.. Sale Agreement

Appears in 1 contract

Samples: Initial Sale Agreement (SLM Student Loan Trust 2007-4)

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