OBLIGATIONS TO FORWARD PAYMENTS AND COMMUNICATIONS. (a) The Seller shall promptly remit, or cause to be remitted, to the Purchaser all funds received by the Seller after the applicable Loan Purchase Date which constitute payments of principal or interest (including Interest Subsidy Payments) or Special Allowance Payments accrued after the applicable Loan Purchase Date with respect to any FFELP Loan. (b) The Seller shall immediately transmit to the Purchaser any communication received by the Seller after the applicable Loan Purchase Date with respect to a FFELP Loan or the Borrower under such a FFELP Loan. Such communication shall include, but not be limited to, letters, notices of death or disability, adjudication of bankruptcy and similar documents and forms requesting deferment of repayment or loan cancellations.
Appears in 27 contracts
Samples: Ffelp Loan Purchase Agreement (College Loan LLC), Loan Purchase Agreement (Nelnet Student Loan Trust 2009-2), Loan Purchase Agreement (Nelnet Inc)
OBLIGATIONS TO FORWARD PAYMENTS AND COMMUNICATIONS. (a) The Seller shall promptly remit, or cause to be remitted, to the Purchaser all funds received by the Seller after the applicable Loan Purchase Date which that constitute payments of principal or interest (including Interest Subsidy Payments) or Special Allowance Payments accrued after the applicable Loan Purchase Date with respect to any FFELP Loan.
(b) The Seller shall immediately transmit to the Purchaser any communication received by the Seller after the applicable Loan Purchase Date with respect to a FFELP Loan or the Borrower under such a FFELP Loan. Such communication shall include, but not be limited to, letters, notices of death or disability, adjudication of bankruptcy and similar documents and forms requesting deferment of repayment or loan cancellations.
Appears in 2 contracts
Samples: Master Loan Sale Agreement (Pheaa Student Loan Foundation Inc), Master Loan Sale and Contribution Agreement (Pheaa Student Loan Foundation Inc)
