Common use of Conveyance of Initial Financed Student Loans Clause in Contracts

Conveyance of Initial Financed Student Loans. (a) In consideration of the Issuer's delivery to or upon the order of the Seller on the Closing Date of the net proceeds from the sale of the Notes and the other amounts to be distributed from time to time to the Seller in accordance with the terms of this Agreement, the Seller (and, with respect to legal title to the Financed Student Loans, [_______________] as trustee on behalf of the Seller) does hereby, as evidenced by a duly executed Xxxx of Sale in the form of Exhibit A hereto, sell, assign, and otherwise convey to the Issuer and, with respect to legal title to the Initial Financed Student Loans, to the Eligible Lender Trustee on behalf of the Issuer) without recourse except as may be provided herein: (i) all right, title and interest in and to the Initial Financed Student Loans, and all obligations of the Obligors thereunder, together with all documents, the related Student Loan Files and all rights and privileges relating thereto, (ii) all payments on or collections received thereunder on and after the Cutoff Date net of interest accrued thereunder prior to the Cutoff Date that is not to be capitalized, including without limitation, Liquidation Proceeds and Recoveries; (iii) all of its right, title and interest in all funds on deposit from time to time in the Trust Accounts, including the Reserve Account Initial Deposit and the Prefunding Account Closing Date Deposit, and in all investments and proceeds thereof (including all income thereon); and (iv) all proceeds of any and all of the foregoing.

Conveyance of Initial Financed Student Loans. (a) In consideration of the Issuer's delivery to or upon the order of the Seller on the Closing Date of the net proceeds from the sale of the Notes and the other amounts to be distributed from time to time to the Seller in accordance with the terms of this Agreement, the Seller (and, with respect to legal title to the Financed Student Loans, [_______________] NBD as trustee on behalf of the Seller) does hereby, as evidenced by a duly executed Xxxx of Sale in the form of Exhibit A hereto, sell, assign, and otherwise convey to the Issuer and, with respect to legal title to the Initial Financed Student Loans, to the Eligible Lender Trustee on behalf of the Issuer) without recourse except as may be provided herein: , (i) all right, title and interest in and to the Initial Financed Student Loans, and all obligations of the Obligors thereunder, together with all documents, the related Student Loan Files and all rights and privileges relating thereto, (ii) all payments on or collections received thereunder on and after the Cutoff Date net of interest accrued thereunder prior to the Cutoff Date that is not to be capitalized, including without limitation, Liquidation Proceeds and Recoveries; (iii) all of its right, title and interest in all funds on deposit from time to time in the Trust Accounts, including the Reserve Account Initial Deposit and the Prefunding Delayed Delivery Loan Funding Account Closing Date Deposit, and in all investments and proceeds thereof (including all income thereon); and (iv) all proceeds of any and all of the foregoing.

Conveyance of Initial Financed Student Loans. (a) In consideration of the Issuer's delivery to or upon the order of the Seller on the Closing Date of the net proceeds from the sale of the Notes and the other amounts to be distributed from time to time to the Seller in accordance with the terms of this Agreement, the Seller (and, with respect to legal title to the Financed Student Loans, [_______________] Bank One as trustee on behalf of the Seller) does hereby, as evidenced by a duly executed Xxxx of Sale in the form of Exhibit A hereto, sell, assign, and otherwise convey to the Issuer and, with respect to legal title to the Initial Financed Student Loans, to the Eligible Lender Trustee on behalf of the Issuer) without recourse except as may be provided herein: , (i) all right, title and interest in and to the Initial Financed Student Loans, and all obligations of the Obligors thereunder, together with all documents, the related Student Loan Files and all rights and privileges relating thereto, (ii) all payments on or collections received thereunder on and after the Cutoff Date net of interest accrued thereunder prior to the Cutoff Date that is not to be capitalized, including without limitation, Liquidation Proceeds and Recoveries; (iii) all of its right, title and interest in all funds on deposit from time to time in the Trust Accounts, including the Reserve Account Initial Deposit and the Prefunding Account Closing Date Deposit, and in all investments and proceeds thereof (including all income thereon); and (iv) all proceeds of any and all of the foregoing.

Conveyance of Initial Financed Student Loans. (a) In consideration of the IssuerDepositor's delivery to or upon the order of the Seller on the Closing Date of the net proceeds from the sale of the Notes and the other amounts to be distributed from time to time to the Seller in accordance with the terms of this Agreement, the Seller (and, with respect to legal title to the Financed Student Loans, [_______________] as trustee on behalf of the Seller) does hereby, as evidenced by a duly executed Xxxx of Sale in the form of Exhibit A hereto, sell, assign, and otherwise convey to the Issuer Depositor (and, with respect to legal title to the Initial Financed Student Loans, to the Eligible Lender Trustee on behalf of the IssuerDepositor) without recourse except as may be provided herein: , (i) all right, title and interest in and to the Initial Financed Student Loans, and all obligations of the Obligors thereunder, together with all documents, the related Student Loan Files and all rights and privileges relating thereto, ; (ii) all payments on or collections received thereunder on and after the Cutoff Date net of interest accrued thereunder prior to the Cutoff Date that is not to be capitalized, including without limitation, Liquidation Proceeds and Recoveries; (iii) all of its right, title and interest in all funds on deposit from time to time in the Trust Accounts, including the Reserve Account Initial Deposit and the Prefunding Account Closing Date Deposit, and in all investments and proceeds thereof (including all income thereon); and (iv) all proceeds of any and all of the foregoing.

Conveyance of Initial Financed Student Loans. (a) In consideration of the Issuer's delivery to or upon the order of the Seller on the Closing Date of the net proceeds from the sale of the Notes and the other amounts to be distributed from time to time to the Seller in accordance with the terms of this Agreement, the Seller (and, with respect to legal title to the Financed Student Loans, [_______________] NBD as trustee on behalf of the Seller) does hereby, as evidenced by a duly executed Xxxx Bill of Sale in the form of Exhibit Exhixxx A hereto, sell, assign, and otherwise convey to the Issuer and(or, with respect to legal title to in the case of the Initial Financed Student Loans, to the Eligible Lender Trustee on behalf of the Issuer) without recourse except as may be provided herein: (i) all right, title and interest in and to the Initial Financed Student Loans, and all obligations of the Obligors thereunder, together with all documents, the related Student Loan Files and all rights and privileges relating thereto, (ii) all payments on or collections received thereunder on and after the Cutoff Date net of interest accrued thereunder prior to the Cutoff Date that is not to be capitalized, including without limitation, Liquidation Proceeds and RecoveriesDate; (iii) all of its right, title and interest in all funds on deposit from time to time in the Trust Accounts, including the Reserve Account Initial Deposit and the Prefunding Account Closing Date Deposit, and in all investments and proceeds thereof (including all income thereon); and (iv) all proceeds of any and all of the foregoing.

Conveyance of Initial Financed Student Loans. (a) In consideration of the Issuer's delivery to or upon the order of the Seller on the Closing Date of the net proceeds from the sale of the Notes and the other amounts to be distributed from time to time to the Seller in accordance with the terms of this Agreement, the Seller (and, with respect to legal title to the Financed Student Loans, [_______________] as trustee on behalf of the Seller) does hereby, as evidenced by a duly executed Xxxx of Sale in the form of Exhibit A hereto, sell, assign, and otherwise convey to the Issuer and, with respect to legal title to the Initial Financed Student Loans, to the Eligible Lender Trustee on behalf of the Issuer) without recourse except as may be provided herein: , (i) all right, title and interest in and to the Initial Financed Student Loans, and all obligations of the Obligors thereunder, together with all documents, the related Student Loan Files and all rights and privileges relating thereto, (ii) all payments on or collections received thereunder on and after the Cutoff Date net of interest accrued thereunder prior to the Cutoff Date that is not to be capitalized, including without limitation, Liquidation Proceeds and Recoveries; (iii) all of its right, title and interest in all funds on deposit from time to time in the Trust Accounts, including the Reserve Account Initial Deposit and the Prefunding Account Closing Date Deposit, and in all investments and proceeds thereof (including all income thereon); and (iv) all proceeds of any and all of the foregoing.

Conveyance of Initial Financed Student Loans. (a) In consideration of the Issuer's delivery to or upon the order of the Seller on the Closing Date of the net proceeds from the sale of the Notes and the other amounts to be distributed from time to time to the Seller in accordance with the terms of this Agreement, the Seller (and, with respect to legal title to the Financed Student Loans, [_______________] NBD as trustee on behalf of the Seller) does hereby, as evidenced by a duly executed Xxxx of Sale in the form of Exhibit A hereto, sell, assign, and otherwise convey to the Issuer and, with respect to legal title to the Initial Financed Student LoansLoans (as defined below), to the Eligible Lender Trustee on behalf of the Issuer) without recourse except as may be provided herein: , (i) all right, title and interest in and to the Initial Financed Student Loans, and all obligations of the Obligors thereunder, together with all documents, the related Student Loan Files and all rights and privileges relating thereto, (ii) all payments on or collections received thereunder on and after the Cutoff Date net of interest accrued thereunder prior to the Cutoff Date that is not to be capitalizedDate, including without limitation, Liquidation Proceeds and Recoveries; (iii) all of its right, title and interest in all funds on deposit from time to time in the Trust Accounts, including the Reserve Account Initial Deposit and the Prefunding Account Closing Date Deposit, and in all investments and proceeds thereof (including all income thereon); and (iv) all proceeds of any and all of the foregoing.

Conveyance of Initial Financed Student Loans. (a) In consideration of the IssuerDepositor's delivery to or upon the order of the Seller on the Closing Date of the net proceeds from the sale of the Notes and the other amounts to be distributed from time to time to the Seller in accordance with the terms of this Agreement, the Seller (and, with respect to legal title to the Financed Student Loans, [_______________] as trustee on behalf of the Seller) does hereby, as evidenced by a duly executed Xxxx Bill of Sale in the form of Exhibit A hereto, sell, assign, and otherwise axx xtherwise convey to the Issuer Depositor (and, with respect to legal title to the Initial Financed Student Loans, to the Eligible Lender Trustee on behalf of the IssuerDepositor) without recourse except as may be provided herein: , (i) all right, title and interest in and to the Initial Financed Student Loans, and all obligations of the Obligors thereunder, together with all documents, the related Student Loan Files and all rights and privileges relating thereto, ; (ii) all payments on or collections received thereunder on and after the Cutoff Date net of interest accrued thereunder prior to the Cutoff Date that is not to be capitalizedDate, including without limitation, Liquidation Proceeds and Recoveries; (iii) all of its right, title and interest interest, if any, in all funds on deposit from time to time in the Trust Accounts, including the Reserve Account Initial Deposit and the Prefunding Account Closing Date Deposit, and in all investments and proceeds thereof (including all income thereon); and (iv) all proceeds of any and all of the foregoing.