Repayment and Return of Capital Contributions Clause Samples

Repayment and Return of Capital Contributions. (a) The Owner Trustee shall have no personal liability for the repayment of any Capital Contributions of the Owners. (b) Following redemption or payment of the Bonds in full, principal payments received by the Trust in a Fiscal Year on account of the Student Loans, including prepayments of principal and amounts recovered in liquidation of a Student Loan allocable to outstanding principal thereof, shall be distributed to the Owners in proportion to the positive balances in their respective Capital Accounts.

Repayment and Return of Capital Contributions. (a) The Owner Trustee shall have no personal liability for the repayment of any Capital Contributions of the Owners. (b) Following receipt by the Owner Trustee from the Indenture Trustee of any returned Liquidity Capital Contributions on any Payment Date, such Liquidity Capital Contributions shall be distributed to all Funding Owners who previously made such contributions, pro rata in proportion to the unreturned Liquidity Capital Contributions of each such Funding Owner. (c) Following redemption or payment of the Bonds in full, principal payments received by the Trust in a Fiscal Year on account of the Student Loans, including prepayments of principal and amounts recovered in liquidation of a Student Loan allocable to outstanding principal thereof, shall be distributed to the Owners in proportion to the positive balances in their respective Capital Accounts.