Liability of Permitted Assignee upon Transferee's Acceptance of Servicer's Offer to Service Student Loans. If the Transferee accepts the offer described in subsection (iv)(a)(1) or (iv)(a)(2), the Permitted Assignee shall have no further obligation or liability to the Servicer hereunder with respect to such Student Loans, and the Early Termination Fees set forth in the Fee Schedule shall not be due and payable. If the Transferee does not elect to have the Servicer continue Servicing the Student Loans, the Permitted Assignee shall pay the Early Termination Fees set forth in the Fee Schedule. This subsection shall not apply to an assignment to a Permitted Assignee pursuant to subsection 11.4(ii).
Appears in 4 contracts
Samples: Alternative Servicing Agreement, Alternative Servicing Agreement (National Collegiate Funding LLC), Alternative Loan Servicing Agreement (National Collegiate Funding LLC)
Liability of Permitted Assignee upon Transferee's Acceptance of Servicer's Offer to Service Student Loans. If the Transferee accepts the offer described in subsection (iv)(a)(113.05(a)(i) or (iv)(a)(2ii), the Permitted Assignee shall have no further obligation or liability to the Servicer hereunder with respect to such Student Loans, and the Early Termination Fees set forth in the Fee Schedule shall not be due and payable. If the Transferee does not elect to have the Servicer continue Servicing the Student Loans, the Permitted Assignee shall pay the Early Termination Fees set forth in the Fee Schedule. This subsection shall not apply to an assignment to a Permitted Assignee pursuant to subsection 11.4(ii)13.02.
Appears in 2 contracts
Samples: Private Student Loan Servicing Agreement (First Marblehead Corp), Private Student Loan Servicing Agreement (National Collegiate Student Loan Trust 2006-3)
Liability of Permitted Assignee upon Transferee's Acceptance of Servicer's Offer to Service Student Loans. If the Transferee accepts the offer described in subsection (iv)(a)(113.05(a)(i) or (iv)(a)(2ii), the Permitted Assignee shall have no further obligation or liability to the Servicer hereunder with respect to such Student Loans, and the Early Termination Fees set forth in m the Fee Schedule shall not be due and payable. If the Transferee does not elect to have the Servicer continue Servicing servicing the Student Loans, the Permitted Assignee shall pay the Early Termination Fees set forth in the Fee Schedule. This subsection shall not apply to an assignment to a Permitted Assignee pursuant to subsection 11.4(ii)13.02.
Appears in 1 contract
Samples: Private Student Loan Servicing Agreement (National Collegiate Funding LLC)
