Common use of Revocation and Termination Clause in Contracts

Revocation and Termination. Subject to Section 4.10 hereof, the Issuer may, by Issuer Order delivered to the Eligible Lender Trustee, revoke this Eligible Lender Trust Agreement in whole or in part. Upon receipt of such Issuer Order, the Eligible Lender Trustee shall transfer to the order of the Issuer all amounts held hereunder, and the trust created hereby shall thereupon terminate (except that the obligations of the Issuer under Section 4.05 hereof shall survive such termination).

Appears in 9 contracts

Samples: Lender Trust Agreement, Eligible Lender Trust Agreement (Higher Education Funding I), Eligible Lender Trust Agreement (Consolidation Loan Funding Ii, LLC)

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Revocation and Termination. Subject to Section 4.10 hereof, the Issuer may, by Issuer Order delivered to the Eligible Lender Trustee, revoke this Eligible Lender Trust Agreement in whole or in part. Upon receipt of such Issuer Order, the Eligible Lender Trustee shall transfer to the order of the Issuer all amounts Financed Student Loans held hereunder, and the trust created hereby shall thereupon terminate (except that the obligations of the Issuer under Section 4.05 hereof shall survive such termination).

Appears in 1 contract

Samples: Eligible Lender Trust Agreement (Gmac Elf LLC)

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