DUTIES OF THE ELIGIBLE LENDER TRUSTEE. The Eligible Lender Trustee, by the execution hereof, covenants, represents and agrees that: (a) it shall accept and hold as herein set forth all such right, title and interest to the Eligible Loans that are transferred and assigned to it at the request of EFC Trust or that are originated and made by it and in its name on behalf of EFC Trust pursuant to this Trust Agreement; (b) it is and shall be an "eligible lender" as defined in 20 U.S.C.(S)1085 (d) under the Higher Education Act; (c) it shall enter into and maintain a Contract of Guarantee with each Guarantor where it acts on behalf of EFC Trust; (d) if requested by EFC Trust (with respect to Eligible Loans held on behalf of EFC Trust under this Trust Agreement) in a reasonably detailed writing that sets forth sufficient information and instructions, it shall execute, deliver and perform Student Loan Sale Purchase Agreements, Federal Loan Program Documents, Consumer Education Loan Documents, Servicing Agreements, Financing Transaction Documents, and all other agreements, documents or certificates required under such Student Loan Sale Purchase Agreements, any Loan Program, Servicing Agreement or Financing Transaction, and any other agreements, instruments, or documents relating, directly or indirectly, to the making, financing, acquisition or consolidation of Eligible Loans or the servicing, administration, sale, exchange, assignment or transfer of Eligible Loans, including without limitation the acceptance of the transfer of all right, title and interest in the Eligible Loans held by Seller to the Eligible Lender Trustee on behalf of EFC Trust; (e) it shall acquire, sell, exchange or otherwise deal with such Eligible Loans in accordance with the Student Loan Sale Purchase Agreements and the applicable Loan Program, Servicing Agreement or Financing Transaction;
Appears in 1 contract
Samples: Trust Agreement (Education Funding Capital Trust I)
DUTIES OF THE ELIGIBLE LENDER TRUSTEE. The Eligible Lender Trustee, by the execution hereof, covenants, represents and agrees that:
(a) it shall accept and hold as herein set forth all such right, title and interest to the Eligible Financed Student Loans that are transferred and assigned to it at the request of EFC Trust or that are originated and made by it and in its name on behalf of EFC Trust pursuant to this Trust Agreementthe Issuer;
(b) it is is, and shall be be, an "eligible lender" as defined in 20 U.S.C.(S)1085 (dU.S.C.ss.1085(d) under the Higher Education Act;
(c) it shall enter into and maintain a Contract of Guarantee with each Guarantor where it acts on behalf of EFC TrustGuarantor;
(d) if requested by EFC Trust the Issuer (with respect to Eligible the Financed Student Loans held on behalf of EFC Trust the Issuer under this Trust Agreement) in a reasonably detailed writing that sets forth sufficient information and instructions, it shall execute, deliver and perform Student Loan Sale Purchase Agreements, Federal Loan Program Documents, Consumer Education Loan Documents, Servicing Agreements, Financing Transaction Documents, and all other agreements, documents or certificates required under such Student Loan Sale Purchase Agreements, any Loan Program, Servicing the Trust Agreement or Financing Transaction, and any other agreements, instruments, or documents relating, directly or indirectly, to the making, financing, acquisition or consolidation of Eligible the Financed Student Loans or the servicing, administration, sale, exchange, assignment or transfer of Eligible the Financed Student Loans, including without limitation the acceptance of the transfer of all right, title and interest in the Eligible Loans held by Seller to the Eligible Lender Trustee on behalf of EFC Trust;
(e) it shall acquire, sell, exchange or otherwise deal with such Eligible Financed Student Loans in accordance with the Student Loan Sale Purchase Agreements Trust Agreement and the applicable Loan ProgramIndenture;
(f) it shall enter into, Servicing and thereafter comply with the terms thereof, any agreement or other document relating to the Trust Agreement and take such actions as are necessary and reasonably requested to convey, transfer, assign, pledge and granx x xxxx xx and a security interest in all of its right, title and interest in and to the Financed Student Loans in accordance with the Indenture;
(g) it shall take such actions, at the request of the Issuer as are necessary or appropriate in order for the Issuer to obtain the full value and benefits of the Financed Student Loans under this Agreement, the Indenture and the Trust Agreement;
(h) it shall hold all data, materials and information pertaining to the Financed Student Loans confidential, and it agrees not to use such data, materials or information for any purpose other than for the limited purpose of performing its obligations under this Agreement or Financing Transaction;the Trust Agreement; and
(i) following the discharge or other termination of the transactions contemplated by the Indenture and the Trust Agreement, it shall (i) continue to hold all right, title and interest in and to the Financed Student Loans for the benefit of the Issuer pursuant to the terms and conditions of this Agreement until otherwise directed by the Issuer and (ii) shall execute such agreements and documents as requested by the Issuer providing for the administration of and receipt by the Issuer of the cash flows and other interests in such Financed Student Loans.
Appears in 1 contract
Samples: Eligible Lender Trust Agreement (Student Loan Funding LLC)
DUTIES OF THE ELIGIBLE LENDER TRUSTEE. The Eligible Lender Trustee, by the execution hereof, covenants, represents and agrees that:
(a) it shall accept and hold as herein set forth all such right, title and interest to the Eligible Financed Student Loans that are transferred and assigned to it at the request of EFC Trust or that are originated and made by it and in its name on behalf of EFC Trust pursuant to this Trust Agreementthe Issuer;
(b) it is is, and shall be be, an "eligible lender" as defined in 20 U.S.C.(S)1085 (dU.S.C. Section 1085(d) under the Higher Education Act;
(c) it shall enter into and maintain a Contract of Guarantee with each Guarantor where it acts on behalf of EFC TrustGuarantor;
(d) if requested by EFC Trust the Issuer (with respect to Eligible Financed Student Loans held on behalf of EFC Trust the Issuer under this Trust Agreement) in a reasonably detailed writing that sets forth sufficient information and instructions, it shall execute, deliver and perform Student Loan Sale Purchase Agreements, Federal Loan Program Documents, Consumer Education Loan Documents, Servicing Agreements, Financing Transaction Documents, and all other agreements, documents or certificates required under such Student Loan Sale Purchase Agreements, any Loan Program, Servicing the Trust Agreement or Financing Transaction, and any other agreements, instruments, or documents relating, directly or indirectly, to the making, financing, acquisition or consolidation of Eligible Financed Student Loans or the servicing, administration, sale, exchange, assignment or transfer of Eligible Financed Student Loans, including without limitation the acceptance of the transfer of all right, title and interest in the Eligible Loans held by Seller to the Eligible Lender Trustee on behalf of EFC Trust;
(e) it shall acquire, sell, exchange or otherwise deal with such Eligible Financed Student Loans in accordance with the Trust Agreement;
(f) it shall enter into, and thereafter comply with the terms thereof, any agreement or other document relating to the Trust Agreement and take such actions as are necessary and reasonably requested to convey, transfer, assign, pledge and granx x xxxx xx and a security interest in all of its right, title and interest in and to the Financed Student Loan Sale Purchase Agreements Loans in accordance with the Trust Agreement;
(g) it shall take such actions, at the request of the Issuer as are necessary or appropriate in order for the Issuer to obtain the full value and benefits of the Financed Student Loans under this Agreement and the applicable Loan ProgramTrust Agreement;
(h) it shall hold all data, Servicing materials and information pertaining to the Financed Student Loans confidential, and it agrees not to use such data, materials or information for any purpose other than for the limited purpose of performing its obligations under this Agreement; and
(i) following the discharge or other termination of the transactions contemplated by the Trust Agreement, it shall (i) continue to hold all right, title and interest in and to the Financed Student Loans for the benefit of the Issuer pursuant to the terms and conditions of this Agreement or Financing Transaction;until otherwise directed by the Issuer and (ii) shall execute such agreements and documents as requested by the Issuer providing for the administration of and receipt by the Issuer of the cash flows and other interests in such Financed Student Loans.
Appears in 1 contract
Samples: Eligible Lender Trust Agreement (Student Loan Funding LLC)
DUTIES OF THE ELIGIBLE LENDER TRUSTEE. The Eligible Lender Trustee, by the execution hereof, covenants, represents and agrees that:
(a) it shall accept and hold as herein set forth all such right, title and interest to the Eligible Financed Student Loans that are transferred and assigned to it at the request of EFC Trust or that are originated and made by it and in its name on behalf of EFC Trust pursuant to this Trust Agreementthe Co-owner Trustee;
(b) it is is, and shall be be, an "eligible lender" as defined in 20 U.S.C.(S)1085 (dU.S.C. Section 1085(d) under the Higher Education Act;
(c) it shall enter into and maintain a Contract of Guarantee with each Guarantor where it acts on behalf of EFC Trustthe Co-owner Trustee;
(d) if requested by EFC Trust the Co-owner Trustee (with respect to Eligible Financed Student Loans held on behalf of EFC Trust the Co-owner Trustee under this Trust Agreement) in a reasonably detailed writing that sets forth sufficient information and instructions, it shall execute, deliver and perform Student Loan Sale Purchase Agreements, Federal Loan Program Documents, Consumer Education Loan Documents, Servicing Agreements, Financing Transaction Documents, and all other agreements, documents or certificates required under such Student Loan Sale Purchase Agreements, any Loan Program, Servicing the Trust Agreement or Financing Transaction, and any other agreements, instruments, or documents relating, directly or indirectly, to the making, financing, acquisition or consolidation of Eligible Financed Student Loans or the servicing, administration, sale, exchange, assignment or transfer of Eligible Financed Student Loans, including without limitation the acceptance of the transfer of all right, title and interest in the Eligible Loans held by Seller to the Eligible Lender Trustee on behalf of EFC Trust;
(e) it shall acquire, sell, exchange or otherwise deal with such Eligible Financed Student Loans in accordance with the Trust Agreement;
(f) it shall enter into, and thereafter comply with the terms thereof, any agreement or other document relating to the Trust Agreement and take such actions as are necessary and reasonably requested to convey, transfer, assign, pledge and granx x xxxx xx and a security interest in all of its right, title and interest in and to the Financed Student Loan Sale Purchase Agreements Loans in accordance with the Trust Agreement;
(g) it shall take such actions, at the request of the Co-owner Trustee as are necessary or appropriate in order for the Co-owner Trustee to obtain the full value and benefits of the Financed Student Loans under this Agreement and the applicable Loan ProgramTrust Agreement;
(h) it shall hold all data, Servicing materials and information pertaining to the Financed Student Loans confidential, and it agrees not to use such data, materials or information for any purpose other than for the limited purpose of performing its obligations under this Agreement; and
(i) following the discharge or other termination of the transactions contemplated by the Trust Agreement, it shall (i) continue to hold all right, title and interest in and to the Financed Student Loans for the benefit of the Co-owner Trustee pursuant to the terms and conditions of this Agreement or Financing Transaction;until otherwise directed by the Co-owner Trustee and (ii) shall execute such agreements and documents as requested by the Co-owner Trustee providing for the administration of and receipt by the Co-owner Trustee of the cash flows and other interests in such Financed Student Loans.
Appears in 1 contract
Samples: Eligible Lender Trust Agreement (Student Loan Funding LLC)
DUTIES OF THE ELIGIBLE LENDER TRUSTEE. The Eligible Lender Trustee, by the execution hereof, covenants, represents and agrees that:
(a) it shall accept and hold as herein set forth all such right, title and interest to the Eligible Financed Student Loans that are transferred and assigned to it at the request of EFC Trust or that are originated and made by it and in its name on behalf of EFC Trust pursuant to this Trust Agreementthe Issuer;
(b) it is is, and shall be be, an "eligible lender" as defined in 20 U.S.C.(S)1085 (dU.S.C. ss.1085(d) under the Higher Education Act;
(c) it shall enter into and maintain a Contract of Guarantee with each Guarantor where it acts on behalf of EFC TrustGuarantor;
(d) if requested by EFC Trust the Issuer (with respect to Eligible the Financed Student Loans held on behalf of EFC Trust the Issuer under this Trust Agreement) in a reasonably detailed writing that sets forth sufficient information and instructions, it shall execute, deliver and perform Student Loan Sale Purchase Agreements, Federal Loan Program Documents, Consumer Education Loan Documents, Servicing Agreements, Financing Transaction Documents, and all other agreements, documents or certificates required under such Student Loan Sale Purchase Agreements, any Loan Program, Servicing the Trust Agreement or Financing Transaction, and any other agreements, instruments, or documents relating, directly or indirectly, to the making, financing, acquisition or consolidation of Eligible the Financed Student Loans or the servicing, administration, sale, exchange, assignment or transfer of Eligible the Financed Student Loans, including without limitation the acceptance of the transfer of all right, title and interest in the Eligible Loans held by Seller to the Eligible Lender Trustee on behalf of EFC Trust;
(e) it shall acquire, sell, exchange or otherwise deal with such Eligible Financed Student Loans in accordance with the Student Loan Sale Purchase Agreements Trust Agreement and the applicable Loan ProgramIndenture;
(f) it shall enter into, Servicing and thereafter comply with the terms thereof, any agreement or other document relating to the Trust Agreement and take such actions as are necessary and reasonably requested to convey, transfer, assign, pledge and granx x xxxx xx and a security interest in all of its right, title and interest in and to the Financed Student Loans in accordance with the Indenture;
(g) it shall take such actions, at the request of the Issuer as are necessary or appropriate in order for the Issuer to obtain the full value and benefits of the Financed Student Loans under this Agreement, the Indenture and the Trust Agreement;
(h) it shall hold all data, materials and information pertaining to the Financed Student Loans confidential, and it agrees not to use such data, materials or information for any purpose other than for the limited purpose of performing its obligations under this Agreement or Financing Transaction;the Trust Agreement; and
(i) following the discharge or other termination of the transactions contemplated by the Indenture and the Trust Agreement, it shall (i) continue to hold all right, title and interest in and to the Financed Student Loans for the benefit of the Issuer pursuant to the terms and conditions of this Agreement until otherwise directed by the Issuer and (ii) shall execute such agreements and documents as requested by the Issuer providing for the administration of and receipt by the Issuer of the cash flows and other interests in such Financed Student Loans.
Appears in 1 contract
Samples: Eligible Lender Trust Agreement (Student Loan Funding LLC)
DUTIES OF THE ELIGIBLE LENDER TRUSTEE. The Eligible Lender Trustee, by the execution hereof, covenants, represents and agrees that:
(a) it shall accept and hold as herein set forth all such right, title and interest to the Eligible Loans that are transferred and assigned to it at the request of EFC Trust EFCT-II or that are originated and made by it and in its name on behalf of EFC Trust EFCT-II pursuant to this Trust Agreement;
(b) it is and shall be an "eligible lender" as defined in 20 U.S.C.(S)1085 U.S.C. Section 1085 (d) under the Higher Education Act;
(c) it shall enter into and maintain a Contract of Guarantee with each Guarantor where it acts on behalf of EFC TrustEFCT-II;
(d) if requested by EFC Trust EFCT-II (with respect to Eligible Loans held on behalf of EFC Trust EFCT-II under this Trust Agreement) in a reasonably detailed writing that sets forth sufficient information and instructions, it shall execute, deliver and perform Student Loan Sale Purchase Agreements, Federal Loan Program Documents, Consumer Education Loan Documents, Servicing Agreements, Financing Transaction Documents, and all other agreements, documents or certificates required under such Student Loan Sale Purchase Agreements, any Loan Program, Servicing Agreement or Financing Transaction, and any other agreements, instruments, or documents relating, directly or indirectly, to the making, financing, acquisition or consolidation of Eligible Loans or the servicing, administration, sale, exchange, assignment or transfer of Eligible Loans, including without limitation the acceptance of the transfer of all right, title and interest in the Eligible Loans held by Seller to the Eligible Lender Trustee on behalf of EFC TrustEFCT-II;
(e) it shall acquire, sell, exchange or otherwise deal with such Eligible Loans in accordance with the Student Loan Sale Purchase Agreements and the applicable Loan Program, Servicing Agreement or Financing Transaction;
(f) it shall enter into, and thereafter comply with the terms thereof, any agreement or other document relating to any Financing Transaction, and take such actions as are necessary and reasonably requested to convey, transfer, assign, pledge and xxxxx x xxxx on and a security interest in all of its right, title and interest in and to the Eligible Loans in accordance with the applicable Financing Transaction;
(g) it shall take such actions, at the request of EFCT-II as are necessary or appropriate in order for EFCT-II to obtain the full value and benefits of the Eligible Loans, the Student Loan Sale Purchase Agreements and the Loan Programs, Servicing Agreements, Financing Transactions or other agreements, instruments or documents related thereto, with respect to the Eligible Loans held on behalf of EFCT-II under this Trust Agreement;
(h) it shall hold all data, materials and information pertaining to the Eligible Loans confidential, and it agrees not to use such data, materials or information for any purpose other than for the limited purpose of performing its obligations under this Trust Agreement; and
(i) following the discharge or other termination of any Financing Transaction to which EFCT-II is a party, it shall (i) continue to hold all right, title and interest in and to the Eligible Loans relating to such Financing Transaction for the benefit of EFCT-II pursuant to the terms and conditions of this Trust Agreement until otherwise directed by EFCT-II and (ii) shall execute such agreements and documents as requested by EFCT-II providing for the administration of and receipt by EFCT-II of the cash flows and other interests in such Eligible Loans.
Appears in 1 contract
