Common use of Limitation of Liability of Interim Trustee Clause in Contracts

Limitation of Liability of Interim Trustee. SECTION 20.01 Limitation of Liability of Interim Trustee 16 These Purchase Agreement Master Securitization Terms Number 1000 (“Master Sale Terms”), dated as of April 6, 2006, between SLM Education Credit Finance Corporation, in its capacity as seller (in such capacity, the “Seller”), SLM Funding LLC, as purchaser (the “Purchaser”), and Chase Bank USA, National Association, not in its individual capacity but solely as trustee on behalf of the Purchaser (the “Interim Trustee”) for the benefit of Purchaser under the Interim Trust Agreement dated as of April 6, 2006 between Purchaser and Interim Trustee, shall be effective upon execution by the parties hereto. References to Purchaser means the Interim Trustee for all purposes involving the holding or transferring of legal title to the Student Loans.

Limitation of Liability of Interim Trustee. SECTION 20.01 Limitation of Liability of Interim Trustee 16 These Purchase Agreement Master Securitization Terms Number 1000 (“Master Sale Terms”), dated as of April 6March 29, 20062007, between among SLM Education Credit Finance Corporation, in its capacity as seller (in such capacity, the “Seller”), SLM Funding LLC, as purchaser (the “Purchaser”), and Chase The Bank USAof New York Trust Company, National AssociationN.A., not in its individual capacity but solely as trustee on behalf of the Purchaser (the “Interim Trustee”) for the benefit of Purchaser under the Interim Trust Agreement dated as of April 6March 29, 2006 2007 between Purchaser and Interim Trustee, shall be effective upon execution by the parties hereto. References to Purchaser means the Interim Trustee for all purposes involving the holding or transferring of legal title to the Student Loans.

Limitation of Liability of Interim Trustee. SECTION 20.01 Limitation of Liability of Interim Trustee 16 These Purchase Agreement Master Securitization Terms Number 1000 (“Master Sale Terms”), dated as of April 6September 28, 2006, between SLM Education Credit Finance Corporation, in its capacity as seller (in such capacity, the “Seller”), SLM Funding LLC, as purchaser (the “Purchaser”), and Chase Bank USA, National Association, not in its individual capacity but solely as trustee on behalf of the Purchaser (the “Interim Trustee”) for the benefit of Purchaser under the Interim Trust Agreement dated as of April 6September 28, 2006 between Purchaser and Interim Trustee, shall be effective upon execution by the parties hereto. References to Purchaser means the Interim Trustee for all purposes involving the holding or transferring of legal title to the Student Loans.

Limitation of Liability of Interim Trustee. SECTION 20.01 Limitation of Liability of Interim Trustee 16 15 These Purchase Agreement Master Securitization Terms Number 1000 (“Master Sale Terms”), dated as of April 6March 29, 20062007, between SLM Education Credit Finance Corporationamong VG Funding, LLC, in its capacity as seller (in such capacity, the “Seller”), SLM Funding LLC, as purchaser (the “Purchaser”), and Chase The Bank USAof New York Trust Company, National AssociationN.A., not in its individual capacity but solely as trustee on behalf of the Purchaser (the “Interim Trustee”) for the benefit of Purchaser under the Interim Trust Agreement dated as of April 6March 29, 2006 2007 between Purchaser and Interim Trustee, Trustee shall be effective upon execution by the parties hereto. References to the Purchaser means the Interim Trustee for all purposes involving the holding or transferring of legal title to the Student Loans.