NOTIFICATION TO BORROWERS. The servicing agent on behalf of the Seller shall notify Borrowers under the FFELP Loans as required by the Higher Education Act of the assignment and transfer to the Trustee of the Seller's interest in such FFELP Loans and the Seller shall direct each Borrower to make all payments thereon directly to the Purchaser or as it may otherwise designate.
NOTIFICATION TO BORROWERS. 3.1 Prior to the occurrence of an Assignment Notification Event (as set out in Clause 3.2 below), neither the CBC nor the Security Trustee will give or require notification (i) to any Borrower of the assignment of the Mortgage Receivable to the CBC, (ii) to an insurance company of the assignment of the Beneficiary Rights to the CBC or (iii) to Stichting WEW of the assignment of the relevant Mortgage Receivables and the NHG Advance Rights relating thereto.
3.2 If,
(a) a default is made by the Transferor in the payment on the due date of any amount due and payable by it under this Agreement or under any other Transaction Document to which it is a party and such failure is not remedied within ten (10) Business Days after notice thereof has been given by the CBC or the Security Trustee to the Transferor; or
(b) the Transferor fails to duly perform or comply with any of its obligations under any Transaction Document to which it is a party and, if such failure is capable of being remedied, such failure is not remedied within ten (10) Business Days after notice thereof has been given by the CBC or the Security Trustee to the Transferor; or
(c) the Transferor takes any corporate action or other steps are taken or legal proceedings are started or threatened against it (unless as a consequence of a merger) for its dissolution (ontbinding), liquidation (vereffening) or legal demerger (juridische splitsing) involving the Transferor or for its being converted in a foreign entity, or its assets are placed under administration (onder bewind gesteld); or
(d) the Transferor takes any corporate action, or other steps are taken or legal proceedings are started or threatened against it, for (i) its suspension of payments (surseance van betaling), (ii) its bankruptcy (faillissement), (iii) any analogous insolvency proceedings under any applicable law or (iv) the appointment of a liquidator, administrator or a similar officer of it or of any or all of its assets; or
(e) a Notice to Pay is served on the CBC; or
(f) an Issuer Acceleration Notice is served on the Issuer; or
(g) a CBC Event of Default has occurred, then, other than with respect to the Mortgage Receivables originated by Aegon Leven and Aegon Hypotheken, the Transferor shall, unless the Security Trustee instructs it otherwise, forthwith:
i. notify or ensure that the relevant Borrowers and any other relevant parties indicated by the CBC and/or the Security Trustee are forthwith notified of the assignment of the releva...
NOTIFICATION TO BORROWERS. The parties hereto acknowledge and agree that each Student Loan Purchase Agreement provides that the Lender (in the case of FFELP Loans) or SLFC (in the case of Alternative Loans), as the case may be, which is a party thereto, and that each Transfer Agreement provides that GOAL Funding, shall, to the extent required by the Higher Education Act and the Guarantee Program regulations or the Alternative Loan Program, as appropriate, notify, or cause to be notified, each Borrower under each Financed Student Loan of the assignment and transfer to the Trustee (but for the account and on behalf of the Issuer) of the Lender's, SLFC's or GOAL Funding's interest in such Financed Student Loan and shall direct the Borrower to make all payments thereon directly to the Servicer until otherwise notified by the Trustee. To the extent permitted by the Higher Education Act and the Guarantee Program regulations or the Alternative Loan Program, as appropriate, the Servicer may, on behalf of the Issuer, waive this requirement of any Lender (in the case of FFELP Loans), SLFC (in the case of Alternative Loans) or GOAL Funding (in the case of Financed GOAL Funding Student Loans) if the notice is sent by the Servicer on behalf of such Lender, SLFC or GOAL Funding.
NOTIFICATION TO BORROWERS. Notwithstanding Clause 18.1(a) (Compliance with Data Protection Laws), the Servicer shall provide fair processing information, on behalf of the Servicer and the Controller Party, to all Data Subjects whose Personal Data is provided to Servicer and processed in performance of the Services.
NOTIFICATION TO BORROWERS. The Lender and the Corporation agree that the Servicer and the Lender shall either jointly or separately notify each borrower under the Financed Eligible Loans of the assignment and transfer to the Trustee (but for the account and on behalf of the Corporation) of the Lender's interest in such Financed Eligible Loans and direct each borrower to make all payments thereon directly to the Servicer until otherwise notified by the Trustee. Such notice shall be in compliance with Section 428(b)(2)(F) of the Higher Education Act.
NOTIFICATION TO BORROWERS. The Administrator shall take all steps necessary pursuant to the relevant Mortgage Conditions or applicable law to bring each change in the Standard Variable Rate and any other discretionary rate or margin applicable to the Mortgage Loans and any consequent changes in Monthly Payments to the attention of the relevant Borrowers and shall, as soon as reasonably practicable after any change in such rates, provide details of such changes to each of the Mortgages Trustee, the Security Trustee and the Beneficiaries, and shall, upon receipt of a request from any of such parties, notify such requesting party of any changes in the Monthly Payments in relation to the Mortgage Loans.
NOTIFICATION TO BORROWERS. 10 Section 8. Obligations To Forward Payments and Communications..........10 Section 9. Payment of Expenses and Taxes...............................11 Section 10. Indemnification.............................................11 Section 11. Special Provisions Relating to MPN Loans....................11 Section 12.
NOTIFICATION TO BORROWERS. The Administrator shall take all steps necessary pursuant to the relevant Mortgage Conditions or applicable law to bring each change in the Standard Variable Rate and any consequent changes in Monthly Payments to the attention of the relevant Borrowers and shall, as soon as reasonably practicable after any change in the Standard Variable Rate, provide details of such change to each of the Mortgages Trustee, the Security Trustee and the Beneficiaries, and shall, upon receipt of a request from any of such parties, notify such requesting party of any changes in the Monthly Payments in relation to the Mortgage Loans.
NOTIFICATION TO BORROWERS. The parties hereto acknowledge and agree that each Student Loan Purchase Agreement provides that the Lender which is a party thereto shall notify each Borrower under each Financed Student Loan of the assignment and transfer to the Trustee (but for the account and on behalf of the Issuer) of the Lender's interest in such Financed Student Loan and shall direct the Borrower to make all payments thereon directly to the Servicer until otherwise notified by the Trustee. To the extent permitted by the Higher Education Act and the Guarantee Program regulations, the Servicer may, on behalf of the Issuer, waive this requirement of any Lender if the notice is sent by the Servicer on behalf of such Lender.
NOTIFICATION TO BORROWERS. The Secretary shall establish procedures under which a borrower of a loan made under this part who chooses or is required to repay such loan pursuant to income contingent re- payment is notified of the terms and condi- tions of such plan, including notification of such borrower—
(A) that the Internal Revenue Service will disclose to the Secretary tax return infor- mation as authorized under section 6103(l)(13) of title 26; and
(B) that if a borrower considers that spe- cial circumstances, such as a loss of employ- ment by the borrower or the borrower’s spouse, warrant an adjustment in the bor- rower’s loan repayment as determined using the information described in subparagraph (A), or the alternative documentation de- scribed in paragraph (3), the borrower may contact the Secretary, who shall determine whether such adjustment is appropriate, in accordance with criteria established by the Secretary.
