Common use of REJECTION OF STUDENT LOANS BY PURCHASER PRIOR TO PURCHASE Clause in Contracts

REJECTION OF STUDENT LOANS BY PURCHASER PRIOR TO PURCHASE. (a) If (i) Seller is unable to make or furnish the representations and warranties required to be made or furnished by it pursuant to this Agreement as to such Student Loan, or (ii) Seller is unable to fulfill one or more covenants or conditions of this Agreement as to such Student Loan, or (iii) Purchaser in its reasonable judgment deems that such Student Loan does not comply with the terms and conditions of this Agreement or is not being delivered in compliance with such terms and conditions; or (iv) the conditions of Section 4.2 shall not have been complied with, then Purchaser may, in its sole discretion, refuse to accept and purchase any Student Loan. (b) If Purchaser rejects a Student Loan, any such Student Loan shall be excluded from the sale, and Seller shall be furnished with a letter identifying each excluded Student Loan and stating the basis for its exclusion. If Purchaser rejects a Student Loan, Seller may substitute a different Eligible Loan for the rejected Student Loan, provided, however, that the terms and conditions of such Eligible Loan are in compliance with the terms and conditions of this Agreement.

REJECTION OF STUDENT LOANS BY PURCHASER PRIOR TO PURCHASE. (a) If (i) Seller is unable to make or furnish the representations and warranties required to be made or furnished by it pursuant to this Agreement as to such Student Loan, or (ii) Seller is unable to fulfill one or more covenants or conditions of this Agreement as to such Student Loan, or (iii) Purchaser in its reasonable judgment deems that such Student Loan does not comply with the terms and conditions of this Agreement or is not being delivered in compliance with such terms and conditions; or (iv) the conditions of Section 4.2 shall not have been complied with, then Purchaser may, in its sole discretion, refuse to accept and purchase any Student Loan. (b) If Purchaser rejects a Student Loan, any such Student Loan shall be excluded from the sale, and Seller shall be furnished with a letter identifying each excluded Student Loan and stating the basis for its exclusion. If Purchaser rejects a Student Loan, Seller may substitute a different Eligible Loan for the rejected Student Loan, ; provided, however, that the terms and conditions of such Eligible Loan are in compliance with the terms and conditions of this Agreement.

REJECTION OF STUDENT LOANS BY PURCHASER PRIOR TO PURCHASE. (a) If (i) Seller is unable to make or furnish the representations and warranties required to be made or furnished by it pursuant to this Agreement as to such Student Loan, or (ii) Seller is unable to fulfill one or more covenants or conditions of this Agreement as to such Student Loan, or (iii) Purchaser in its reasonable judgment deems that such Student Loan does not comply with the terms and conditions of this Agreement or is not being delivered in compliance with such terms and conditions; or (iv) the conditions of Section 4.2 shall not have been complied with, then Purchaser may, in its sole discretion, refuse to accept and purchase any Student Loan. (b) If Purchaser rejects a Student Loan, any such Student Loan shall be excluded from the sale, and Seller shall be furnished with a letter identifying each excluded Student Loan and stating the basis for its exclusion. If Purchaser rejects a Student Loan, Seller may substitute a different Eligible Loan for the rejected Student Loan, provided, however, that the terms and conditions of such Eligible Loan are in compliance with the terms and conditions of this Agreement.

REJECTION OF STUDENT LOANS BY PURCHASER PRIOR TO PURCHASE. (a) If (i) Seller is unable to make or furnish the representations and warranties required to be made or furnished by it pursuant to this Agreement as to such a Student Loan, or (ii) Seller is unable to fulfill one or more covenants or conditions of this Agreement as to such a Student Loan, or (iii) Purchaser in its reasonable judgment deems that such Student Loan does not comply with the terms and conditions of this Agreement or is not being delivered in compliance with such terms and conditions; or (iv) the conditions of Section 4.2 shall not have been complied with, then Purchaser may, in its sole discretion, refuse to accept and purchase any such Student Loan. (b) If Purchaser rejects a Student Loan, any such Student Loan shall be excluded from the sale, and Seller shall be furnished with a letter identifying each excluded Student Loan and stating the basis for its exclusion. If Purchaser rejects a Student Loan, Seller may substitute a different Eligible Loan for the rejected Student Loan, provided, however, that the terms and conditions of such Eligible Loan are in compliance with the terms and conditions of this AgreementAgreement and Seller shall have complied with the requirements of Section 4.1 with respect to each Eligible Loan.

REJECTION OF STUDENT LOANS BY PURCHASER PRIOR TO PURCHASE. (a) If (i) Seller is unable to make or furnish the representations and warranties required to be made or furnished by it pursuant to this Agreement as to such Student Loan, or (ii) Seller is unable to fulfill one or more covenants or conditions of this Agreement as to such Student Loan, or (iii) Purchaser in its reasonable judgment deems that such Student Loan does not comply with the terms and conditions of this Agreement or is not being delivered in compliance with such terms and conditions; or (iv) the conditions of Section 4.2 4.02 shall not have been complied with, then Purchaser may, in its sole discretion, refuse to accept and purchase any Student Loan. (b) If Purchaser rejects a Student Loan, any such Student Loan shall be excluded from the sale, and Seller shall be furnished with a letter identifying each excluded Student Loan and stating the basis for its exclusion. If Purchaser rejects a Student Loan, Seller may substitute a different Eligible Loan for the rejected Student Loan, provided, however, that the terms and conditions of such Eligible Loan are in compliance with the terms and conditions of this Agreement.