Establishment and Authorization for Use of the Receipts Account. The Holder shall provide the Servicer with all authorizations and information, and shall take all such further steps as may be necessary, in order to authorize and enable the Servicer to initiate the movement of funds to and from the Receipts Account by EFT. The Servicer shall not use its access to the Receipts Account except for the purposes expressly authorized in this Servicing Agreement.
Appears in 2 contracts
Samples: Loan Servicing and Administration Agreement, Loan Servicing and Administration Agreement (SLM Corp)
Establishment and Authorization for Use of the Receipts Account. The Holder Bank shall provide the Servicer with all authorizations and information, and shall take all such further steps as may be necessary, in order to authorize and enable the Servicer to initiate the movement of funds to and from the Receipts Account by EFT. The Servicer shall not use its access to the Receipts Account except for the purposes expressly authorized in this Servicing Agreement.
Appears in 2 contracts
Samples: Loan Servicing and Administration Agreement, Loan Servicing and Administration Agreement (SLM Corp)
