Common use of Financing, Collection and Assignment of Eligible Loans Clause in Contracts

Financing, Collection and Assignment of Eligible Loans. All loans held under this Indenture shall be only Eligible Loans, and the Authority shall diligently cause to be collected all principal and interest payments (subject to subsection (e) of this Section) on all the Financed Eligible Loans and other sums to which the Authority is entitled pursuant to any Student Loan Purchase Agreement or Origination Agreement, all grants, subsidies, donations, insurance payments, Special Allowance Payments, Interest Benefit Payments, and all defaulted payments Guaranteed by a Guaranty Agency or Insured by the Secretary which relate to such Financed Eligible Loans. The Authority shall also make, or cause to be made by the applicable Servicer, every effort to perfect the Authority’s or such Servicer’s claims for payment from the Secretary or such Guaranty Agency, of all payments related to such Financed Eligible Loans, no later than required by the Higher Education Act and the applicable Guarantee Agreement. The Authority will assign such Financed Eligible Loans for payment of Guarantee or Insurance benefits within the required period under applicable law and regulations. The Authority will comply in all material respects with all United States and state statutes, rules, and regulations which apply to the Program and to such Financed Eligible Loans.

Financing, Collection and Assignment of Eligible Loans. All loans held under this Indenture shall be only Eligible Loans, and the Authority shall diligently cause to be collected all principal and interest payments (subject to subsection (eSection 4.06(e) of this Sectionhereof) on all the Financed Eligible Loans and other sums to which the Authority is entitled pursuant to any Student Loan Purchase Agreement or Origination Agreement, all grants, subsidies, donations, insurance payments, Special Allowance Payments, Interest Benefit Payments, and all defaulted payments Guaranteed by a Guaranty Agency or Insured by the Secretary which relate to such Financed Eligible Loans. The Authority shall also make, or cause to be made by the applicable Servicer, every effort to perfect the Authority’s or such Servicer’s claims for payment from the Secretary or such Guaranty Agency, of all payments related to such Financed Eligible Loans, no later than required by the Higher Education Act and the applicable Guarantee Guaranty Agreement. The Authority will assign such Financed Eligible Loans for payment of Guarantee or Insurance benefits within the required period under applicable law and regulations. The Authority will comply in all material respects with all United States and state statutes, rules, and regulations which apply to the Program and to such Financed Eligible Loans.

Financing, Collection and Assignment of Eligible Loans. All loans held under this Indenture shall be only Eligible Loans, Loans and the Authority shall diligently cause to be collected all principal and interest payments (subject to subsection (eSection 4.06(d) of this Sectionhereof) on all the Financed Eligible Loans and other sums to which the Authority is entitled pursuant to any Student Loan Purchase Agreement or Origination Agreement, all grants, subsidies, donations, insurance payments, Special Allowance Payments, Interest Benefit Payments, and all defaulted payments Guaranteed by a Guaranty Agency or Insured by the Secretary which relate to such Financed Eligible Loans. The Authority shall also make, or cause to be made by the applicable Servicer, every effort to perfect the Authority’s or such Servicer’s claims for payment from the Secretary or such Guaranty Agency, of all payments related to such Financed Eligible Loans, no later than required by the Higher Education Act and the applicable Guarantee Guaranty Agreement. The Authority will assign such Financed Eligible Loans for payment of Guarantee or Insurance benefits within the required period under applicable law and regulations. The Authority will comply in all material respects with all United States and state statutes, rules, and regulations which apply to the Program and to such Financed Eligible Loans.and