Conveyance of Financed Student Loans. 1 SECTION 2.01. Conveyance of Financed Student Loans
Conveyance of Financed Student Loans. Conveyance of Initial Financed Student Loans.....2 SECTION 2.2. Conveyance of Additional Financed Student Loans..3 SECTION 2.3. Conveyance of Certain Financed Student Loans by the Eligible Lender Trustee to the Seller.....5 SECTION 2.4.
Conveyance of Financed Student Loans. SECTION 2.01. Conveyance of Initial Financed Student Loans........................................................1 SECTION 2.02. Conveyance of Prefunded Loans and Serial Loans......................................................2 SECTION 2.03. Treatment as a Security Agreement...................................................................5 SECTION 2.04. Endorsement.........................................................................................6
Conveyance of Financed Student Loans. SECTION 2.1 Conveyance of Initial Financed Student Loans............................................ 1 SECTION 2.2 Conveyance of Subsequent Financed Student Loans...........
Conveyance of Financed Student Loans. In consideration of the Issuer’s delivery to or upon the order of the Depositor on the Closing Date of the Certificates and of the net proceeds from the sale of the Notes and the other amounts to be distributed from time to time to the Depositor in accordance with the terms of this Agreement, the Depositor (and with respect to legal title, the Depositor Eligible Lender Trustee, on behalf of the Depositor) does hereby, as evidenced by a duly executed written assignment in the form of Exhibit D, sell, transfer, assign, set over and otherwise convey to the Issuer (and with respect to legal title, to the Eligible Lender Trustee on behalf of the Issuer), without recourse (subject to the obligations herein):
(i) all right, title and interest of the Depositor (and, with respect to legal title, the Depositor Eligible Lender Trustee on behalf of the Depositor) in and to the Financed Student Loans and all obligations of the Obligors thereunder, including all moneys paid thereunder, and all written communications received by the Depositor (and the Depositor Eligible Lender Trustee) with respect thereto (including borrower correspondence, notices of death, disability or bankruptcy and requests for deferrals or forbearances), on or after the Cutoff Date;
Conveyance of Financed Student Loans. SECTION 2.1 Conveyance of Initial Financed Student Loans . . . . . . . . . . . . . . . . . . . . . . . . . . . SECTION 2.2 Conveyance of Exchanged Student Loans . . . . . . . . . . . . .
Conveyance of Financed Student Loans by the Eligible Lender Trustee to the Depositor in Connection with Consolidation Loans. On any date, upon receipt of written notice (or telephonic or facsimile notice followed by written notice) from the Depositor (or from KBUSA or the Master Servicer (or a Sub-Servicer) on behalf of the Depositor) by the Eligible Lender Trustee and the Indenture Trustee, the Eligible Lender Trustee, on behalf of the Issuer, will convey to the Depositor (or to either the Depositor Eligible Lender Trustee or KBUSA as its designee) the Financed Student Loans identified in such notice, which are to be repaid pursuant to the Consolidation Loans to be made by the Depositor. In exchange for and simultaneously with such conveyance, the Depositor will, or will cause the Seller, to remit to the Indenture Trustee (or to the Administrator on its behalf) for deposit into the Group I or Group II Escrow Account, as applicable, an amount of cash equal to the aggregate unpaid principal balances of all such Group I and/or Group II Student Loans, respectively, plus accrued interest thereon to the date of such conveyance.
Conveyance of Financed Student Loans. In consideration of the Issuer's delivery to or upon the order of the Seller on the Closing Date of (i) the net proceeds from the sale of the Notes and the Certificates (net of the Reserve Account Initial Deposit) and (ii) the other amounts to be distributed from time to time to the Seller in accordance with the terms of this Agreement and the other Basic Documents (as evidenced by the Excess Distribution Certificate), the Seller does hereby, as evidenced by a duly executed written assignment in the form of Exhibit A, sell, transfer, assign, set over and otherwise convey to the Eligible Lender Trustee on behalf of the Issuer, without recourse (subject to the obligations herein):
(i) all right, title and interest in and to the Financed Student Loans and all obligations of the Obligors thereunder, including all moneys paid thereunder, and all written communications received by the Seller with respect thereto (including borrower correspondence, notices of death, disability or bankruptcy and requests for deferrals or forbearance), on or after the Cutoff Date; and
(ii) the proceeds of any and all of the foregoing.
Conveyance of Financed Student Loans. (a) As evidenced by a duly executed written assignment in the form of Exhibit D to the Standard Terms, the Depositor and the Eligible Lender Trustee on its behalf, hereby contribute, transfer, sell, assign, set over and otherwise convey to the Eligible Lender Trustee on behalf of the Issuer, without recourse (subject to the obligations herein):
(i) All right and interest (and, with respect to the Eligible Lender Trustee, title) in and to the Financed Student Loans listed on Schedule A to this Agreement (the "Initial Financed Student Loans") and all obligations of the Obligors thereunder, including all moneys paid thereunder (other than Interest Subsidy Payments and Special Allowance Payments payable to the Cut-off Date), and all written communications received by the Transferor with respect thereto and still retained by Transferor in accordance with its retention policies (including borrower correspondence, notices of death, disability or bankruptcy and requests for deferrals or forbearance), on or after the Cut-off Date;
(ii) all right, title and interest in all funds on deposit from time to time in the Trust Accounts and in all investments and proceeds thereof (including all income thereon); and
(iii) the proceeds of any and all of the foregoing.
(b) The purchase price for the Initial Financed Student Loans shall be an amount equal to $________, payable in immediately available funds on the Closing Date.
Conveyance of Financed Student Loans. In consideration of the purchaser’s delivery to or upon the order of the seller on the closing date of $1,022,838,489, the trust certificate(s) issued pursuant to the trust agreement and the other amounts to be distributed from time to time to the seller in accordance with the terms of this agreement, the seller does hereby, as evidenced by a duly executed written assignment in the form of exhibit a, sell, transfer, assign, set over and otherwise convey to the purchaser (and, with respect to legal title, to the depositor eligible lender trustee), without recourse (subject to the obligations herein):
(i) all right, title and interest of the Seller in and to the Financed Student Loans and all obligations of the Obligors thereunder, including all moneys paid thereunder, and all written communications received by the Seller with respect thereto (including borrower correspondence, notices of death, disability or bankruptcy and requests for deferrals or forbearances), on or after the Cutoff Date;
(ii) all right, title and interest of the Seller under the applicable Assigned Agreements insofar as they relate to the Financed Guaranteed Private Loans but not with respect to any other loans covered thereby; and
(iii) the proceeds of any and all of the foregoing.
