Common use of Priority of Distributions Clause in Contracts

Priority of Distributions. On each Distribution Date, the Indenture Administrator shall first pay itself and the Indenture Trustee their respective portions of the Indenture Trustee/Indenture Administrator/Eligible Lender Trustee Fee for such Distribution Date plus all other amounts due to them under Section 6.7 of the Indenture for such Distribution Date, shall next pay the Owner Trustee the Owner Trustee Fee for such Distribution Date plus all other amounts due to it (in its capacity as such or individually) under the Trust Agreement for the related Distribution Date, shall next pay the Eligible Lender Trustee its respective portions of the Indenture Trustee/Indenture Administrator/Eligible Lender Trustee Fee for such Distribution Date plus all other amounts due to it under the Eligible Lender Trust Agreements for the related Distribution Date (such Trustee Fees and other amounts not to exceed $30,000 per annum in the aggregate), and then to make the following deposits and distributions in the amounts and in the order of priority set forth below:

Appears in 7 contracts

Samples: Administration Agreement (SLC Student Loan Trust 2007-1), Administration Agreement (SLC Student Loan Trust 2007-2), Administration Agreement (SLC Student Loan Trust 2005-2)

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Priority of Distributions. On each Distribution Date, the Indenture Administrator shall first pay itself and the Indenture Trustee their respective portions of the Indenture Trustee/Indenture Administrator/Eligible Lender Trustee Fee for such Distribution Date plus all other amounts due to them under Section 6.7 of the Indenture for such Distribution Date, shall next pay the Owner Trustee the Owner Trustee Fee for such Distribution Date plus all other amounts due to it (in its capacity as such or individually) under the Trust Agreement for the related Distribution Date, shall next pay the Eligible Lender Trustee its respective portions of the Indenture Trustee/Indenture Administrator/Eligible Lender Trustee Fee for such Distribution Date plus all other amounts due to it under the Eligible Lender Trust Agreements for the related Distribution Date (such Trustee Fees and other amounts not to exceed $30,000 per annum in the aggregate), and then to make the following deposits and distributions in the amounts and in the order of priority set forth below:

Appears in 2 contracts

Samples: Administration Agreement (SLC Student Loan Trust 2004-1), Administration Agreement (SLC Student Loan Trust 2005-1)

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Priority of Distributions. On each Distribution Date, the Administrator shall instruct the Indenture Administrator shall to first pay itself and itself, the Administrator, the Indenture Trustee and the Paying Agent their respective portions of the Indenture Trustee/Indenture Administrator/Eligible Lender Trustee Trustee/Paying Agent Fee and the Administration Fees, as applicable, for such Distribution Date plus all other amounts due to them under Section 6.7 of the Indenture for such Distribution Date, shall next pay the Owner Trustee the Owner Trustee Fee for such Distribution Date plus all other amounts due to it (in its capacity as such or individually) under the Trust Agreement for the related Distribution Date, shall next pay the Eligible Lender Trustee its respective portions portion of the Indenture Trustee/Indenture Administrator/Eligible Lender Trustee Trustee/Paying Agent Fee for such Distribution Date plus all other amounts due to it under the Eligible Lender Trust Agreements for the related Distribution Date (such Trustee Fees and other amounts not to exceed $30,000 115,000 per annum in the aggregateaggregate prior to an Event of Default on the Notes), and then to make the following deposits and distributions in the amounts and in the order of priority set forth below:

Appears in 1 contract

Samples: Administration Agreement (SLC Student Loan Trust 2008-2)

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