Common use of Optional Purchase of Financed Student Loans Clause in Contracts

Optional Purchase of Financed Student Loans. The Master Servicer shall have the option to purchase or arrange for the purchase of all remaining Financed Student Loans on any Distribution Date when the Pool Balance is 10% or less of the initial Pool Balance. The purchase price will equal the greater of (i) the aggregate outstanding balances of the remaining Financed Student Loans as of the end of the preceding Collection Period, including all interest accrued thereon, and (ii) the Minimum Purchase Amount.

Optional Purchase of Financed Student Loans. The Master Servicer shall have the option to purchase or arrange for the purchase of all remaining Financed Student Loans on any Distribution Date when the Pool Balance is 10% or less of the initial Pool Balance. The purchase price will equal the greater of (i) the aggregate outstanding balances Master Servicing Agreement of the remaining Financed Student Loans as of the end of the preceding Collection Period, including all interest accrued thereon, and (ii) the Minimum Purchase Amount.