Common use of Repayment of Funded Draws Clause in Contracts

Repayment of Funded Draws. (a) Subject to the following provisions of this Section 2.3(a), the Issuer is obligated to repay all funded Draws together with interest accrued on the daily outstanding balance of the aggregate of all funded Draws from the date made until the date all funded Draws are repaid at the rate of one-month LIBOR plus 0.20%. The parties hereto (and the assignees and third-party beneficiaries hereof, by accepting the assignment of this Agreement as contemplated in Section 2.4 hereof) agree that Draws will be repaid in part or in whole on any and each succeeding Distribution Date, to the extent amounts are available therefor, in accordance with the provisions of Section 8.02(d) or 5.04 of the Indenture, and interest accrued on the daily outstanding amount of all funded Draws, and all accrued fees due the Holder will be payable on and after the Distribution Date on which all funded Draws are repaid and to the extent amounts are available therefor in accordance with the provisions of Section 8.02(d) or 5.04 of the Indenture. Notwithstanding any other provision of this Agreement, interest on the Liquidity Note and all accrued fees due the Holder shall be paid monthly, in arrears. Payments to the Holder in respect of funded Draws or accrued interest and fees will be made by wire transfer of immediately available funds to the following account, or such other account designated by the Holder in writing: UBS Stamford Branch ABA #: 000000000 Account #: 101WA858564001 Attn: Xxxxxxx Xxxxxx Ref: National Collegiate Student Loans Trust 2006-3

Repayment of Funded Draws. (a) Subject to the following provisions of this Section 2.3(a)sentences, the Issuer is obligated to repay all funded Draws together with interest accrued on the daily outstanding balance of the aggregate of all funded Draws from the date made until the date all funded Draws are repaid at [___]% per annum, calculated daily on the rate basis of one-month LIBOR plus 0.20%a year of 365 or 366 days, as applicable. The parties hereto (and the assignees and third-party beneficiaries hereof, by accepting the assignment of this Agreement as contemplated in Section 2.4 2.5 hereof) agree that Draws will be repaid in part or in whole on any and each succeeding Distribution Date, to the extent Payment Date on which amounts are available therefor, therefor in accordance with the provisions of Section 8.02(d8.03(b)(viii) or 5.04 8.03(c)(vii) of the Indenture, and interest accrued on the daily outstanding amount of all funded Draws, and all accrued fees due the Holder Draws will be payable on and after the Distribution Payment Date on which all funded Draws are repaid and to the extent on which amounts are available therefor therefore in accordance with the provisions of Section 8.02(d8.03(b)(viii) or 5.04 8.03(c)(vii) of the Indenture. Notwithstanding any other provision of this Agreement, interest on the Liquidity Note and all accrued fees due the Holder shall be paid monthly, in arrears. Payments to the Holder in respect of funded Draws or accrued interest and fees will be made either (i) from amounts available in accordance with the provisions of Section 8.03(b)(viii) or 8.03(c)(vii) of the Indenture or (ii) by wire transfer of immediately available funds to the following account: A/C Notwithstanding the foregoing, or such other account designated by if following liquidation of the Trust Estate pursuant to Article V of the Indenture the Trust has insufficient funds to make required payments to the Holder of the Revolving Liquidity Note pursuant to Section 8.03(c)(vii) of the Indenture, then all amounts due under the Revolving Liquidity Note will be deemed to have been paid in writing: UBS Stamford Branch ABA #: 000000000 Account #: 101WA858564001 Attn: Xxxxxxx Xxxxxx Ref: National Collegiate Student Loans Trust 2006-3full and this Agreement shall terminate with no further payment owing from the Trust.

Repayment of Funded Draws. (a) Subject to the following provisions of this Section 2.3(a), the Issuer is obligated to repay all funded Draws together with interest accrued on the daily outstanding balance of the aggregate of all funded Draws from the date made until the date all funded Draws are repaid at the rate of one-month one­month LIBOR plus 0.20%. The parties hereto (and the assignees and third-party third­party beneficiaries hereof, by accepting the assignment of this Agreement as contemplated in Section 2.4 hereof) agree that Draws will be repaid in part or in whole on any and each succeeding Distribution Date, to the extent amounts are available therefor, in accordance with the provisions of Section 8.02(d) or 5.04 of the Indenture, and interest accrued on the daily outstanding amount of all funded Draws, and all accrued fees due the Holder will be payable on and after the Distribution Date on which all funded Draws are repaid and to the extent amounts are available therefor in accordance with the provisions of Section 8.02(d) or 5.04 of the Indenture. Notwithstanding any other provision of this Agreement, interest on the Liquidity Note and all accrued fees due the Holder shall be paid monthly, in arrears. Payments to the Holder in respect of funded Draws or accrued interest and fees will be made by wire transfer of immediately available funds to the following account, or such other account designated by the Holder in writing: UBS Stamford Branch ABA #: 000000000 Account #: 101WA858564001 Attn: Xxxxxxx Xxxxxx Ref: National Collegiate Student Loans Trust 2006-32006­3

Repayment of Funded Draws. (a) Subject to the following provisions of this Section 2.3(a)sentences, the Issuer is obligated to repay all funded Draws together with interest accrued on the daily outstanding balance of the aggregate of all funded Draws from the date made until the date all funded Draws are repaid at the Effective Federal Funds Rate. The "Effective Federal Funds Rate" shall mean, for any day, the sum of (a) the weighted average (rounded upwards, if necessary, to the next 1/100 of 1%) of the rates on overnight Federal Funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average (rounded upwards, if necessary, to the next 1/100 of one-month LIBOR 1%) of the quotations for such day for such transactions received by the Indenture Trustee from three Federal funds brokers of recognized standing selected by it plus 0.20(b) 0.50%. The parties hereto (and the assignees and third-party beneficiaries hereof, by accepting the assignment of this Agreement as contemplated in Section 2.4 2.5 hereof) agree that Draws will be repaid in part or in whole on any and each succeeding Distribution Date, to the extent Payment Date on which amounts are available therefor, therefor in accordance with the provisions of Section 8.02(d8.4(x) or 5.04 5.4(b)(vi) of the Indenture, and interest accrued on the daily outstanding amount of all funded Draws, and all accrued fees due the Holder Draws will be payable on and after the Distribution Payment Date on which all funded Draws are repaid and to the extent on which amounts are available therefor therefore in accordance with the provisions of Section 8.02(d8.4(xi) or 5.04 5.4(b)(vii) of the Indenture. Notwithstanding any other provision of this Agreement, interest on the Liquidity Note and all accrued fees due the Holder shall be paid monthly, in arrears. Payments to the Holder in respect of funded Draws or accrued interest and fees will be made by wire transfer of immediately available funds to the following account, or such other account designated by the Holder in writing: UBS Stamford Branch Xxxx xx Xxxxxxx, X.X. Xxxxxx, Xxxxx Account Name: Credit Services-West ABA #: 000000000 111 000 012 Account #: 101WA858564001 3750836479 Ref: BASAT 05-WF1 RLN Draw Repayment Attn: Xxxxxxx Xxxxxx Ref: National Collegiate Student Loans Xxxxx Xxxx Notwithstanding the foregoing, if following liquidation of the Trust 2006-3Estate pursuant to Section 5.4(b) of the Indenture the Issuer has insufficient funds to make required payments to the Holder of the Revolving Liquidity Note pursuant to Sections 8.4 and 5.4(b) of the Indenture, then all amounts due under the Revolving Liquidity Note will be deemed to have been paid in full and this Agreement shall terminate with no further payment owing from the Issuer.

Repayment of Funded Draws. (a) Subject to the following provisions of this Section 2.3(a)2.3, the Issuer is obligated to repay all funded Draws together with interest accrued on the daily outstanding balance of the aggregate of all funded Draws from the date made until the date all funded Draws are repaid at the rate of one-month LIBOR plus 0.20%. The parties hereto (and the assignees and third-party beneficiaries hereof, by accepting the assignment of this Agreement as contemplated in Section 2.4 hereof) agree that Draws will be repaid in part or in whole on any and each succeeding Distribution Date, to the extent amounts are available therefor, in accordance with the provisions of Section 8.02(d) or 5.04 of the Indenture, and interest accrued on the daily outstanding amount of all funded Draws, and all accrued fees due the Holder will be payable on and after the Distribution Date on which all funded Draws are repaid and to the extent amounts are available therefor in accordance with the provisions of Section 8.02(d) or 5.04 of the Indenture. Notwithstanding any other provision of this Agreement, interest on the Revolving Liquidity Note and all accrued fees due the Holder shall be paid monthly, in arrears. Payments to the Holder in respect of funded Draws or accrued interest and fees will be made by wire transfer of immediately available funds to the following account, or such other account designated by the Holder in writing: JPMorgan Chase UBS Stamford Branch ABA #: 000000000 021 000 021 Account #: 101WA858564001 066 617 111 Ref: First Marblehead Attn: Xxxxxxx Xxxxxx Ref: National Collegiate Student Loans Trust 2006-3Xxxxx Xxxxxxx