Common use of Prior Notice to the Holder of the Excess Distribution Certificate With Respect to Certain Matters Clause in Contracts

Prior Notice to the Holder of the Excess Distribution Certificate With Respect to Certain Matters. With respect to the following matters, the Trustee shall not take action unless at least 30 days before the taking of such action, the Trustee shall have notified the holder of the Excess Distribution Certificate and each of the Rating Agencies in writing of the proposed action and the holder shall not have notified the Trustee in writing prior to the 30th calendar day after such notice is given that it has withheld consent or provided alternative direction:

Appears in 8 contracts

Samples: Trust Agreement, Trust Agreement, Trust Agreement (SLM Private Credit Student Loan Trust 2005-B)

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Prior Notice to the Holder of the Excess Distribution Certificate With Respect to Certain Matters. With respect to the following matters, the Eligible Lender Trustee shall not take action unless at least 30 days before the taking of such action, the Eligible Lender Trustee shall have notified the holder of the Excess Distribution Certificate and each of the Rating Agencies in writing of the proposed action and the holder of the Excess Distribution Certificate shall not have notified the Eligible Lender Trustee in writing prior to the 30th calendar day after such notice is given that it has withheld consent or provided alternative direction:

Appears in 3 contracts

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

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Prior Notice to the Holder of the Excess Distribution Certificate With Respect to Certain Matters. With respect to the following matters, the Eligible Lender Trustee shall not take action unless at least 30 days before the taking of such action, the Eligible Lender Trustee shall have notified the holder of the Excess Distribution Certificate and each of the Rating Agencies in writing of the proposed action and the holder shall not have notified the Eligible Lender Trustee in writing prior to the 30th calendar day after such notice is given that it has withheld consent or provided alternative direction:

Appears in 1 contract

Samples: Trust Agreement (SLM Funding Corp)

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