Realization upon Financed Student Loans Clause Samples
The 'Realization upon Financed Student Loans' clause defines the process and rights related to collecting or enforcing repayment on student loans that have been financed under an agreement. Typically, this clause outlines the steps a lender or financing party may take if a borrower defaults, such as initiating collection actions, selling the loan, or otherwise recovering the outstanding balance. It may also specify how proceeds from such realization are distributed among stakeholders. The core function of this clause is to provide a clear framework for recouping funds in the event of non-payment, thereby protecting the financial interests of the lender or investor.
Realization upon Financed Student Loans. For the benefit of the Issuer, the Master Servicer shall (or shall cause the applicable Sub-Servicer to) use reasonable efforts consistent with its customary servicing practices and procedures and including all efforts that may be specified under the Higher Education Act or any applicable Guarantee Agreement in its servicing (or sub-servicing) of any delinquent Financed Student Loans.
Realization upon Financed Student Loans. For the benefit of the Issuer, each Master Servicer shall use reasonable efforts consistent with its customary servicing practices and procedures and including all efforts that may be specified under the Higher Education Act or any Guarantee Agreement in its servicing of any delinquent Financed Student Loans.
Realization upon Financed Student Loans. For the benefit of the Issuer, the Master Servicer shall use reasonable efforts consistent with customary servicing practices and procedures and including all efforts that may be specified under the Higher Education Act or any Guarantee Agreement with respect to the Financed FFELP Loans and under the HEAL Act and the HEAL Insurance Contract with respect to the Financed HEAL Loans in its servicing of any delinquent Financed Student Loans.
Realization upon Financed Student Loans. The Issuer shall cause the Servicer to use reasonable efforts consistent with customary servicing practices and procedures and subject to the Servicing Agreement, including all efforts that may be specified under any applicable Student Loan Guaranty Agreement and the Higher Education Act, or any applicable Alternative Loan Agreement in its servicing of any delinquent Financed Student Loans.
Realization upon Financed Student Loans. SECTION 3.04. Computation of Note Interest Rate and Certificate Rate...... SECTION 3.05.
Realization upon Financed Student Loans. For the benefit of the Issuer, the Master Servicer shall use reasonable efforts consistent with customary servicing practices and procedures and including all efforts that may be specified under the Higher Education Act or any Guarantee Agreement with respect to the Financed FFELP Loans, under the HEAL Act and the HEAL Insurance Contract with respect to the Financed HEAL Loans and any applicable Private Loan Program requirements with respect to the Financed Private Loans, in its servicing of any delinquent Financed Student Loans.