Common use of Enforcement of Servicing Agreements Clause in Contracts

Enforcement of Servicing Agreements. The Issuer shall cause to be diligently enforced and taken all reasonable steps, actions and proceedings necessary for the enforcement of all terms, covenants and conditions of all Servicing Agreements, including the prompt payment of all principal and interest payments and all other amounts due the Issuer or Trustee, as applicable, thereunder, including all grants, subsidies, donations, Special Allowance Payments and all defaulted payments Guaranteed by any Guarantor and/or by the Secretary of Education which relate to any Financed Loans. The Issuer shall not permit the release of the obligations of any Servicer under any Servicing Agreement and shall at all times, to the extent permitted by law, cause to be defended, enforced, preserved and protected the rights and privileges of the Issuer and of the Trustee under or with respect to each Servicing Agreement. The Issuer shall not consent or agree to or permit any amendment or modification of any Servicing Agreement which will in any manner materially adversely affect the rights or security of the Trustee or the Note Purchasers, without the written consent of the Required Note Purchasers, except (a) as required by the Higher Education Act, (b) solely for the purpose of extending the term thereof or adding to the Financed Loans serviced thereunder Eligible Loans financed under an indenture or similar agreement other than this Agreement and/or (c) in any other manner, if such modification, amendment or supplement so made without the prior written consent of the Required Note Purchasers shall not be effective with respect to the servicing of Financed Loans; provided, however, that the Required Note Purchasers shall respond as promptly as may be practicable after receipt by the Required Note Purchasers of a request of the Issuer for the Required Note Purchasers' consent to any modification, amendment or supplement of, or any waiver with respect to, any provision of any Servicing Agreement.

Enforcement of Servicing Agreements. The Issuer Borrower shall cause to be diligently enforced and taken all reasonable steps, actions and proceedings necessary for the enforcement of all terms, covenants and conditions of all Servicing Agreements, including the prompt payment of all principal and interest payments and all other amounts due the Issuer Borrower or Trustee, as applicable, thereunder, including all grants, subsidies, donations, Special Allowance Payments and all defaulted payments Guaranteed by any Guarantor and/or by the Secretary Department of Education which relate to any Financed Loans. The Issuer Borrower shall not permit the release of the obligations of any Servicer under any Servicing Agreement and shall at all times, to the extent permitted by law, cause to be defended, enforced, preserved and protected the rights and privileges of the Issuer Borrower, the Eligible Lender Trustee and of the Trustee under or with respect to each Servicing Agreement. The Issuer Borrower shall not consent or agree to or permit any amendment or modification of any Servicing Agreement which will in any manner materially adversely affect the rights or security of the Trustee, the Eligible Lender Trustee or and the Note PurchasersSecured Creditors (with respect to the rights of the Secured Creditors, without the written consent approval of the Required Note PurchasersFacility Agent, which approval shall not be unreasonably withheld), except (a) as required by the Higher Education Act, ; (b) solely for the purpose of extending the term thereof or adding to the Financed Loans serviced thereunder Eligible Loans financed under an indenture or similar agreement other than this Agreement Agreement; and/or (c) in any other manner, if such modification, amendment or supplement so made without the prior written consent of the Required Note Purchasers Facility Agent shall not be effective with respect to the servicing of Financed Loans; provided, however, that the Required Note Purchasers Facility Agent shall respond as promptly as may be practicable after receipt by the Required Note Purchasers Facility Agent of a request of the Issuer Borrower for the Required Note Purchasers' Facility Agent's consent to any modification, amendment or supplement of, or any waiver with respect to, any provision of any Servicing Agreement.

Enforcement of Servicing Agreements. The Issuer Borrower shall cause to be diligently enforced and taken all reasonable steps, actions and proceedings necessary for the enforcement of all terms, covenants and conditions of all Servicing Agreements, including the prompt payment of all principal and interest payments and all other amounts due the Issuer Borrower or Trustee, as applicable, thereunder, including all grants, subsidies, donations, Special Allowance Payments and all defaulted payments Guaranteed by any Guarantor and/or by the Secretary of Education which relate to any Financed Loans. The Issuer Borrower shall not permit the release of the obligations of any Servicer under any Servicing Agreement and shall at all times, to the extent permitted by law, cause to be defended, enforced, preserved and protected the rights and privileges of the Issuer Borrower and of the Trustee under or with respect to each Servicing Agreement. The Issuer Borrower shall not consent or agree to or permit any amendment or modification of any Servicing Agreement which will in any manner materially adversely affect the rights or security of the Trustee or the Note PurchasersLenders, without the written consent of the Agent and the Required Note PurchasersLenders, except (a) as required by the Higher Education Act, (b) solely for the purpose of extending the term thereof or adding to the Financed Loans serviced thereunder Eligible Loans financed under an indenture or similar agreement other than this Agreement and/or (c) in any other manner, if such modification, amendment or supplement so made without the prior written consent of the Agent and the Required Note Purchasers Lenders shall not be effective with respect to the servicing of Financed Loans; provided, however, that the Agent and the Required Note Purchasers Lenders shall respond as promptly as may be practicable after receipt by the Required Note Purchasers Lenders of a request of the Issuer Borrower for the Agents' and the Required Note PurchasersLenders' consent to any modification, amendment or supplement of, or any waiver with respect to, any provision of any Servicing Agreement.

Enforcement of Servicing Agreements. The Issuer Borrower shall cause to be diligently enforced and taken all reasonable steps, actions and proceedings necessary for the enforcement of all terms, covenants and conditions of all Servicing Agreements, including the prompt payment of all principal and interest payments and all other amounts due the Issuer Borrower or Trustee, as applicable, thereunder, including all grants, subsidies, donations, Special Allowance Payments and all defaulted payments Guaranteed by any Guarantor and/or by the Secretary Department of Education which relate to any Financed Loans. The Issuer Borrower shall not permit the release of the obligations of any Servicer under any Servicing Agreement and shall at all times, to the extent permitted by law, cause to be defended, enforced, preserved and protected the rights and privileges of the Issuer Borrower and of the Trustee under or with respect to each Servicing Agreement. The Issuer Borrower shall not consent or agree to or permit any amendment or modification of any Servicing Agreement which will in any manner materially adversely affect the rights or security of the Trustee or and the Note PurchasersSecured Creditors (with respect to the rights of the Secured Creditors, without the written consent approval of the Required Note PurchasersFacility Agent, which approval shall not be unreasonably withheld), except (a) as required by the Higher Education Act, ; (b) solely for the purpose of extending the term thereof or adding to the Financed Loans serviced thereunder Eligible Loans financed under an indenture or similar agreement other than this Agreement Agreement; and/or (c) in any other manner, if such modification, amendment or supplement so made without the prior written consent of the Required Note Purchasers Facility Agent shall not be effective with respect to the servicing of Financed Loans; provided, however, that the Required Note Purchasers Facility Agent shall respond as promptly as may be practicable after receipt by the Required Note Purchasers Facility Agent of a request of the Issuer Borrower for the Required Note Purchasers' Facility Agent's consent to any modification, amendment or supplement of, or any waiver with respect to, any provision of any Servicing Agreement.