Rights Transferred. The transfer of funds pursuant to Section 2.04 hereof shall constitute, and the delivery to FMC, or its designated Purchaser Trust of each Pool Supplement shall evidence, a sale and assignment to FMC or the Purchaser Trust of the related NextStudent Conforming Loans and of all of Program Lender’s interest in such NextStudent Conforming Loans. As Purchaser of such NextStudent Conforming Loans, FMC or the Purchaser Trust shall receive: (i) interest on such NextStudent Conforming Loans from and after the Purchase Date, and (ii) any and all other payments and recoveries received by the Servicer or Program Lender from the borrowers and cosigners of such NextStudent Conforming Loans, or others pursuant to, or in respect of, such NextStudent Conforming Loans from and after the Purchase Date, and all proceeds thereof.
Appears in 3 contracts
Samples: Note Purchase Agreement, Note Purchase Agreement, Note Purchase Agreement (National Collegiate Student Loan Trust 2006-2)
Rights Transferred. The transfer of funds pursuant to Section 2.04 hereof shall constitute, and the delivery to FMC, or its designated Purchaser Trust of each Pool Supplement shall evidence, a sale and assignment to FMC or the Purchaser Trust of the related NextStudent CFS Conforming Loans and of all of Program Lender’s 's interest in such NextStudent CFS Conforming Loans. As Purchaser of such NextStudent CFS Conforming Loans, FMC or the Purchaser Trust shall receive: (i) interest on such NextStudent CFS Conforming Loans from and after the Purchase Date, and (ii) any and all other payments and recoveries received by the Servicer or Program Lender from the borrowers and cosigners of such NextStudent CFS Conforming Loans, or others pursuant to, or in respect of, such NextStudent CFS Conforming Loans from and after the Purchase Date, and all proceeds thereof.
Appears in 3 contracts
Samples: Note Purchase Agreement (National Collegiate Funding LLC), Note Purchase Agreement (National Collegiate Funding LLC), Note Purchase Agreement (First Marblehead Corp)
