Common use of Custody of Financed Student Loan Files Clause in Contracts

Custody of Financed Student Loan Files. To assure uniform quality in servicing the Financed Student Loans and to reduce administrative costs, the Issuer hereby revocably appoints each Master Servicer, and each Master Servicer hereby accepts such appointment, to act for the benefit of the Issuer and the Indenture Trustee as custodian of the following documents or instruments which are hereby constructively delivered to the Indenture Trustee, as pledgee of the Issuer (or, in the case of the Additional Financed Student Loans, will as of the applicable Transfer Date be constructively delivered to the Indenture Trustee, as pledgee of the Issuer) with respect to each Financed Student Loan sold by such Master Servicer, as Seller, to the Trust (such documents are referred to collectively as the "Financed Student Loan File").

Custody of Financed Student Loan Files. To assure uniform quality in servicing the Financed Student Loans and to reduce administrative costs, the Issuer hereby revocably appoints each the Master Servicer, and each the Master Servicer hereby accepts such appointment, to act for the benefit of the Issuer and the Indenture Trustee Trustee, as custodian of the following documents or instruments which are hereby constructively delivered to the Indenture Trustee, as pledgee of the Issuer (or, in the case of the Additional Financed Student Loans, will as of the applicable Transfer Date be constructively delivered to the Indenture Trustee, as pledgee of the Issuer) with respect to each Financed Student Loan sold by such Master Servicer, as Seller, to the Trust (such documents are referred to collectively as the "Financed Student Loan File").