Common use of Conveyance of Additional Student Loans Clause in Contracts

Conveyance of Additional Student Loans. In consideration of the Issuer's delivery to or upon the order of the Seller of $__________, the Seller does hereby sell, transfer, assign, set over and otherwise convey, without recourse (except as expressly provided in the Sale and Servicing Agreement), to the Eligible Lender Trustee on behalf of the Issuer: (a) all right, title and interest of the Seller in and to each Additional Student Loan, and all moneys received thereon, on and after the related Subsequent Cutoff Date; and (b) the proceeds of any and all of the foregoing.