Common use of NOTIFICATION TO BORROWERS Clause in Contracts

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. 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. 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 FundingFunding II, 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’s, SLFC's ’s or GOAL Funding's Funding II’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 II (in the case of Financed GOAL Funding II Student Loans) if the notice is sent by the Servicer on behalf of such Lender, SLFC or GOAL FundingFunding II.