Common use of Servicing and Other Agreements Clause in Contracts

Servicing and Other Agreements. The Corporation may contract with other Persons to assist it in performing its duties under this Indenture, and any performance of such duties by a Person identified to the Trustee in a Corporation Certificate shall be deemed to be action taken by the Corporation. The Corporation shall enter into a Servicing Agreement providing for the servicing of the Financed Student Loans and performance of certain of its other obligations under this Indenture, including, without limitation, those obligations described in this Section and Sections 5.5, 5.6 and 5.8 hereof. The Corporation shall cause to be diligently enforced and taken all reasonable steps, actions and proceedings necessary for the enforcement of all terms, covenants and conditions of all Servicing Agreements, including the prompt payment of all principal and interest payments and all other amounts due the Corporation or the Trustee thereunder, including all grants, subsidies, donations, Special Allowance Payments and all defaulted payments Guaranteed by any Guarantee Agency which relate to any Financed Student Loans. The Corporation shall not permit the release of the obligations of any Servicer under any Servicing Agreement and shall at all times, to the extent permitted by law, cause to be defended, enforced, preserved and protected the rights and privileges of the Corporation, the Trustee and the Beneficiaries under or with respect to each Servicing Agreement. The Corporation shall not consent or agree to or permit any amendment or modification of any Servicing Agreement which will in any manner materially adversely affect the rights or security of the Beneficiaries. Any Servicing Agreement shall require the Servicer to administer and collect all Financed Student Loans in the manner provided in this Section 5.7 and Section 5.8 hereof, and shall require the Servicer to prepare and furnish to the Trustee, no later than the twenty-fifth day (or, if such twenty-fifth day is not a Business Day, the next succeeding Business Day) of each calendar month a Monthly Servicing Report with respect to the previous calendar month. Any Servicer may perform all or part of its servicing or other activities under the Servicing Agreement through a subcontractor. Any Servicer shall perform or shall cause its subcontractor to perform all services under the Servicing Agreement in compliance with the Higher Education Act, applicable requirements of each Guarantee Agency and each Alternative Loan Program and all other applicable federal, state and local laws and regulations. Each Servicer shall be responsible for the performance of its obligations under the Servicing Agreement, whether such obligations are performed by such Servicer or by its subcontractor, and such Servicer shall be responsible for any fees and payments required by the subcontractor.

Servicing and Other Agreements. The Corporation may contract with other Persons to assist it in performing its duties under this Indenture, and any performance of such duties by a Person identified to the Trustee in a Corporation Certificate shall be deemed to be action taken by the Corporation. The Corporation shall enter into a Servicing Agreement providing for the servicing of the Financed Student Loans and performance of certain of its other obligations under this Indenture, including, without limitation, those obligations described in this Section and Sections 5.56.3, 5.6 6.4 and 5.8 6.6 hereof. The Corporation shall cause to be diligently enforced and taken all reasonable steps, actions and proceedings necessary for the enforcement of all terms, covenants and conditions of all Servicing Agreements, including the prompt payment of all principal and interest payments and all other amounts due the Corporation or the Trustee thereunder, including all grants, subsidies, donations, Special Allowance Payments and all defaulted payments Guaranteed by any Guarantee Agency which relate to any Financed Student Loans. The Corporation shall not permit the release of the obligations of any Servicer under any Servicing Agreement and shall at all times, to the extent permitted by law, cause to be defended, enforced, preserved and protected the rights and privileges of the Corporation, the Trustee and the Beneficiaries Noteholders under or with respect to each Servicing Agreement. The Corporation shall not consent or agree to or permit any amendment or modification of any Servicing Agreement which will in any manner materially adversely affect the rights or security of the BeneficiariesNoteholders. Any Servicing Agreement shall require the Servicer to administer and collect all Financed Student Loans in the manner provided in this Section 5.7 6.5 and Section 5.8 6.6 hereof, and shall require the Servicer to prepare and furnish to the Trustee, no later than the twenty-fifth twentieth day (or, if such twenty-fifth twentieth day is not a Business Day, the next succeeding Business Day) of each the calendar month following each Collection Period a Monthly Servicing Quarterly Report with respect to the previous calendar monthsuch Collection Period. Any Servicer may perform all or part of its servicing or other activities under the Servicing Agreement through a subcontractor. Any Servicer shall perform or shall cause its subcontractor to perform all services under the Servicing Agreement in compliance with the Higher Education Act, applicable requirements of each Guarantee Agency and each Alternative Loan Program and all other applicable federal, state and local laws and regulations. Each Servicer shall be responsible for the performance of its obligations under the Servicing Agreement, whether such obligations are performed by such Servicer or by its subcontractor, and such Servicer shall be responsible for any fees and payments required by the subcontractor.

Servicing and Other Agreements. The Corporation may ------------------------------ contract with other Persons to assist it in performing its duties under this Indenture, and any performance of such duties by a Person identified to the Trustee in a Corporation Certificate shall be deemed to be action taken by the Corporation. The Corporation shall may, and prior to or contemporaneously with the Section 150(d)(3) Transfer shall, enter into a Servicing Agreement providing for the servicing of the Financed Student Loans and performance of certain of its other obligations under this Indenture, including, without limitation, those obligations described in this Section and Sections 5.5, 5.6 and 5.8 hereof. The Corporation shall cause to be diligently enforced and taken all reasonable steps, actions and proceedings necessary for the enforcement of all terms, covenants and conditions of all Servicing Agreements, including the prompt payment of all principal and interest payments and all other amounts due the Corporation or the Trustee thereunder, including all grants, subsidies, donations, insurance payments, Special Allowance Payments and all defaulted payments Guaranteed and/or Insured by any Guarantee Agency and/or by the Secretary of Education which relate to any Financed Student Loans. The Corporation shall not permit the release of the obligations of any Servicer under any Servicing Agreement and shall at all times, to the extent permitted by law, cause to be defended, enforced, preserved and protected the rights and privileges of the Corporation, the Trustee and the Beneficiaries under or with respect to each Servicing Agreement. The Corporation shall not consent or agree to or permit any amendment or modification of any Servicing Agreement which will in any manner materially adversely affect the rights or security of the Beneficiaries. Any Servicing Agreement shall require the Servicer to administer and collect all Financed Student Loans in the manner provided in this Section 5.7 and Section 5.8 hereof, and shall require the Servicer to prepare and furnish to the Trustee, no later than the twenty-fifth day (or, if such twenty-fifth day is not a Business Day, the next succeeding Business Day) of each calendar month a Monthly Servicing Report with respect to the previous calendar month. Any Servicer may perform all or part of its servicing or other activities under the Servicing Agreement through a subcontractor. Any Servicer shall perform or shall cause its subcontractor to perform all services under the Servicing Agreement in compliance with the Higher Education Act, applicable requirements of each Guarantee Agency and each Alternative Loan Program and all other applicable federal, state and local laws and regulations. Each Servicer shall be responsible for the performance of its obligations under the Servicing Agreement, whether such obligations are performed by such Servicer or by its subcontractor, and such Servicer shall be responsible for any fees and payments required by the subcontractor.

Servicing and Other Agreements. The Corporation may contract with other Persons to assist it in performing its duties under this Indenture, and any performance of such duties by a Person identified to the Trustee in a Corporation Certificate shall be deemed to be action taken by the Corporation. The Corporation shall may, and prior to or contemporaneously with the Section 150(d)(3) Transfer shall, enter into a Servicing Agreement providing for the servicing of the Financed Student Loans and performance of certain of its other obligations under this Indenture, including, without limitation, those obligations described in this Section and Sections 5.5, 5.6 and 5.8 hereof. The Corporation shall cause to be diligently enforced and taken all reasonable steps, actions and proceedings necessary for the enforcement of all terms, covenants and conditions of all Servicing Agreements, including the prompt payment of all principal and interest payments and all other amounts due the Corporation or the Trustee thereunder, including all grants, subsidies, donations, insurance payments, Special Allowance Payments and all defaulted payments Guaranteed and/or Insured by any Guarantee Agency and/or by the Secretary of Education which relate to any Financed Student Loans. The Corporation shall not permit the release of the obligations of any Servicer under any Servicing Agreement and shall at all times, to the extent permitted by law, cause to be defended, enforced, preserved and protected the rights and privileges of the Corporation, the Trustee and the Beneficiaries under or with respect to each Servicing Agreement. The Corporation shall not consent or agree to or permit any amendment or modification of any Servicing Agreement which will in any manner materially adversely affect the rights or security of the Beneficiaries. Any Servicing Agreement shall require the Servicer to administer and collect all Financed Student Loans in the manner provided in this Section 5.7 and Section 5.8 hereof, and shall require the Servicer to prepare and furnish to the Trustee, no later than the twenty-fifth day (or, if such twenty-fifth day is not a Business Day, the next succeeding Business Day) of each calendar month a Monthly Servicing Report with respect to the previous calendar month. Any Servicer may perform all or part of its servicing or other activities under the Servicing Agreement through a subcontractor. Any Servicer shall perform or shall cause its subcontractor to perform all services under the Servicing Agreement in compliance with the Higher Education Act, applicable requirements of each Guarantee Agency and each Alternative Loan Program and all other applicable federal, state and local laws and regulations. Each Servicer shall be responsible for the performance of its obligations under the Servicing Agreement, whether such obligations are performed by such Servicer or by its subcontractor, and such Servicer shall be responsible for any fees and payments required by the subcontractor.