Common use of Conveyance of Financed Student Loans Clause in Contracts

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.