Common use of Merger or Consolidation of Eligible Lender Trustee Clause in Contracts

Merger or Consolidation of Eligible Lender Trustee. Any corporation or association into which the Eligible Lender Trustee may be merged or converted or with which it may be consolidated, or any corporation or association resulting from any merger, conversion or consolidation to which the Eligible Lender Trustee shall be a party, or any corporation or association succeeding to all or substantially all the corporate trust business of the Eligible Lender Trustee, shall, without the execution or filing of any instrument or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding, be the successor of the Eligible Lender Trustee hereunder; provided that such corporation or association shall be eligible pursuant to Section 10.1; and provided further that the Eligible Lender Trustee shall mail notice of such merger or consolidation to the Rating Agencies not less than 15 days prior to the effective date thereof and shall file an amendment to the Certificate of Trust as required under the Delaware Statutory Trust Act.

Appears in 21 contracts

Samples: Trust Agreement (SLM Student Loan Trust 2005-6), Trust Agreement (SLM Student Loan Trust 2006-6), Trust Agreement (SLM Student Loan Trust 2005-10)

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Merger or Consolidation of Eligible Lender Trustee. Any corporation or association into which the Eligible Lender Trustee may be merged or converted or with which it may be consolidated, or any corporation or association resulting from any merger, conversion or consolidation to which the Eligible Lender Trustee shall be a party, or any corporation or association succeeding to all or substantially all the corporate trust business of the Eligible Lender Trustee, shall, without the execution or filing of any instrument or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding, be the successor of the Eligible Lender Trustee hereunder; provided that such corporation or association shall be eligible pursuant to Section 10.1; and provided further that the Eligible Lender Trustee shall mail notice of such merger or consolidation to the Rating Agencies not less than 15 days prior to the effective date thereof and shall file an amendment to the Certificate of Trust as required under the Delaware Statutory Trust Actthereof.

Appears in 14 contracts

Samples: Trust Agreement (SLM Funding LLC), Trust Agreement (SLM Funding LLC), Trust Agreement (SLM Funding LLC)

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Merger or Consolidation of Eligible Lender Trustee. Any corporation or association into which the Eligible Lender Trustee may be merged or converted or with which it may be consolidated, or any corporation or association resulting from any merger, conversion or consolidation to which the Eligible Lender Trustee shall be a party, or any corporation or association succeeding to all or substantially all the corporate trust business of the Eligible Lender Trustee, shall, without the execution or filing of any instrument or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding, be the successor of the Eligible Lender Trustee hereunder; provided that such corporation or association shall be eligible pursuant to Section 10.1; and provided further that the Eligible Lender Trustee shall mail notice of such merger or consolidation to the Rating Agencies not less than 15 days prior to the effective date thereof and shall file an amendment to the Certificate certificate of Trust trust as required under the Delaware Statutory Trust Act.

Appears in 1 contract

Samples: Trust Agreement (Wachovia Student Loan Trust 2005-1)

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