Interest Subsidy and Special Allowance Payments and Rebate Fees. The Seller shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on the Loans up to but not including the related Payment Cutoff Date, and shall be responsible for the payment of rebate fees, if any, applicable to Loans accruing up to but not including the related Payment Cutoff Date. The Purchaser and the Eligible Lender Trustee on behalf of the Purchaser shall be entitled to all Special Allowance Payments and Interest Subsidy Payments on the Loans accruing from, and including, the related Payment Cutoff Date, and shall be responsible for the payment of any rebate fees applicable to Loans accruing from, and including, the Payment Cutoff Date.
Appears in 9 contracts
Samples: Master Terms Sale Agreement (SLC Student Loan Trust 2010-1), Master Terms Sale Agreement (SLC Student Loan Receivables I Inc), Master Terms Sale Agreement (SLC Student Loan Trust 2007-2)
Interest Subsidy and Special Allowance Payments and Rebate Fees. The Seller shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on the Loans each Initial Loan accruing up to but not including the related Payment Initial Cutoff Date, Date and shall be responsible for the payment of any rebate fees, if any, fees applicable to the Initial Loans accruing up to but not including the related Payment Cutoff Closing Date. The Purchaser and the Eligible Lender Trustee on behalf of the Purchaser shall be entitled to all Special Allowance Payments and Interest Subsidy Payments on the Initial Loans accruing from, and including, from the related Payment Initial Cutoff Date, and shall be responsible for the payment of any rebate fees applicable to the Initial Loans accruing from, and including, from the Payment Cutoff Closing Date.
Appears in 3 contracts
Samples: Sale Agreement (SLM Funding LLC), Sale Agreement (SLM Funding LLC), Sale Agreement (SLM Funding LLC)
