Common use of Master Servicing Agreement Clause in Contracts

Master Servicing Agreement. The Administrator shall cause the duties and responsibilities of the Issuer under each of the Financed Student Loans and the Master Servicing Agreement to be performed, including but not limited to the duties set forth below. The Administrator shall advise the Issuer when action by the Issuer is necessary to comply with the Issuer's obligations under the Financed Student Loans and the Master Servicing Agreement. The Administrator shall prepare for execution, if required, by the Issuer or shall cause the preparation by other appropriate persons of all such documents, reports, filings, instruments, certificates and opinions as it shall be the duty of the Issuer to prepare, file or deliver pursuant to the Financed Student Loans and the Master Servicing Agreement. In furtherance of the foregoing, the Administrator shall take all appropriate action, including but not limited to the following: (a) pursuant to the Master Servicing Agreement, providing to the Servicer (or the Servicer's bailee) from time to time, as necessary, and requiring that the Servicer (or the Servicer's bailee) maintain physical custody and possession of, documentation and information relating to the Financed Student Loans and, on and after each applicable date on which Student Loans are to be purchased (the "Loan Purchase Date"), Student Loans sold and transferred to the Issuer on each such Loan Purchase Date, including the documents evidencing such Student Loans and such additional documentation or information relating to such Student Loans as is reasonably required for the Student Loans to be properly serviced by the Servicer; (b) cause to be paid solely from the Trust Estate, all amounts to be paid by the Issuer pursuant to the Transfer and Sale Agreements; (c) promptly after each Loan Purchase Date and with respect to Student Loans originated under the Act, ensuring that notification as required under the Act and by the applicable Guarantee Agencies is made to the borrower under each such Student Loan and to the Secretary of Education and the applicable Guarantee Agencies, as appropriate; (d) promptly after each Loan Purchase Date, providing the Servicer with all information as may be required under the Master Servicing Agreement; (e) causing to be paid to the Servicer on behalf of the Issuer, but solely from the Trust Estate, all fees required to be paid by the Issuer pursuant to the Master Servicing Agreement; (f) performing all audits of records and accounts that the Issuer from time to time may be permitted or required to perform under the Master Servicing Agreement; (g) preparing all other documents, reports, filings, instruments, certificates and opinions as it is the duty of the Issuer to prepare, file or deliver pursuant to the Master Servicing Agreement; and (h) in the event of the default of the Servicer under the Master Servicing Agreement, or default of any other party to any other Issuer Document, taking all reasonable steps available to enforce the Issuer's rights under such documents in respect of such default.

Master Servicing Agreement. The Administrator shall cause the duties and responsibilities of the Issuer under each of the Financed Student Loans and the Master Servicing Agreement to be performed, including but not limited to the duties set forth below. The Administrator shall advise the Issuer when action by the Issuer is necessary to comply with the Issuer's ’s obligations under the Financed Student Loans and the Master Servicing Agreement. The Administrator shall prepare for execution, if required, by the Issuer or shall cause the preparation by other appropriate persons of all such documents, reports, filings, instruments, certificates and opinions as it shall be the duty of the Issuer to prepare, file or deliver pursuant to the Financed Student Loans and the Master Servicing Agreement. In furtherance of the foregoing, the Administrator shall take all appropriate action, including but not limited to the following: (a) pursuant to the Master Servicing Agreement, providing to the Master Servicer (or the Master Servicer's ’s bailee) from time to time, as necessary, and requiring that the Master Servicer (or the Master Servicer's ’s bailee) maintain physical custody and possession of, documentation and information relating to the Financed Student Loans and, on and after each applicable date on which Student Loans are to be purchased (the "“Loan Purchase Date"”), Student Loans sold and transferred to the Issuer on each such Loan Purchase Date, including the documents evidencing such Student Loans and such additional documentation or information relating to such Student Loans as is reasonably required for the Student Loans to be properly serviced by the Master Servicer; (b) cause to be paid solely from the Trust Estate, all amounts to be paid by the Issuer pursuant to the Transfer and Sale Agreements; (c) promptly after each Loan Purchase Date and with respect to Student Loans originated under the Act, ensuring that notification as required under the Act and by the applicable Guarantee Guaranty Agencies is made to the borrower under each such Student Loan and to the Secretary of Education and the applicable Guarantee Guaranty Agencies, as appropriate; (d) promptly after each Loan Purchase Date, providing the Master Servicer with all information as may be required under the Master Servicing Agreement; (e) causing to be paid to the Master Servicer on behalf of the Issuer, but solely from the Trust Estate, all fees required to be paid by the Issuer pursuant to the Master Servicing Agreement; (f) performing all audits of records and accounts that the Issuer from time to time may be permitted or required to perform under the Master Servicing Agreement; (g) preparing all other documents, reports, filings, instruments, certificates and opinions as it is the duty of the Issuer to prepare, file or deliver pursuant to the Master Servicing Agreement; and (h) in the event of the default of the Master Servicer under the Master Servicing Agreement, or default of any other party to any other Issuer Document, taking all reasonable steps available to enforce the Issuer's ’s rights under such documents in respect of such default.

Master Servicing Agreement. The Administrator shall cause the duties and responsibilities of the Issuer under each of the Financed Student Loans and the Master Servicing Agreement to be performed, including but not limited to the duties set forth below. The Administrator shall advise the Issuer when action by the Issuer is necessary to comply with the Issuer's ’s obligations under the Financed Student Loans and the Master Servicing Agreement. The Administrator shall prepare for execution, if required, by the Issuer or shall cause the preparation by other appropriate persons of all such documents, reports, filings, instruments, certificates and opinions as it shall be the duty of the Issuer to prepare, file or deliver pursuant to the Financed Student Loans and the Master Servicing Agreement. In furtherance of the foregoing, the Administrator shall take all appropriate action, including but not limited to the following: (a) pursuant to the Master Servicing Agreement, providing to the Master Servicer (or the Master Servicer's ’s bailee) from time to time, as necessary, and requiring that the Master Servicer (or the Master Servicer's ’s bailee) maintain physical custody and possession of, documentation and information relating to the Financed Student Loans and, on and after each applicable date on which Student Loans are to be purchased (the "“Loan Purchase Date"”), Student Loans sold and transferred to the Issuer on each such Loan Purchase Date, including the documents evidencing such Student Loans and such additional documentation or information relating to such Student Loans as is reasonably required for the Student Loans to be properly serviced by the Master Servicer; ; (b) cause to be paid solely from the Trust Estate, all amounts to be paid by the Issuer pursuant to the Transfer and Sale Agreements; (c) promptly after each Loan Purchase Date and with respect to Student Loans originated under the Act, ensuring that notification as required under the Act and by the applicable Guarantee Guaranty Agencies is made to the borrower under each such Student Loan and to the Secretary of Education and the applicable Guarantee Guaranty Agencies, as appropriate; (d) promptly after each Loan Purchase Date, providing the Master Servicer with all information as may be required under the Master Servicing Agreement; (e) causing to be paid to the Master Servicer on behalf of the Issuer, but solely from the Trust Estate, all fees required to be paid by the Issuer pursuant to the Master Servicing Agreement; (f) performing all audits of records and accounts that the Issuer from time to time may be permitted or required to perform under the Master Servicing Agreement; (g) preparing all other documents, reports, filings, instruments, certificates and opinions as it is the duty of the Issuer to prepare, file or deliver pursuant to the Master Servicing Agreement; and (h) in the event of the default of the Master Servicer under the Master Servicing Agreement, or default of any other party to any other Issuer Document, taking all reasonable steps available to enforce the Issuer's ’s rights under such documents in respect of such default.