Common use of SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE Clause in Contracts

SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by the referenced party shall address, at a minimum, the criteria identified below as “Applicable Servicing Criteria” applicable to such party, as such criteria may be updated or limited by the Commission or its staff (including, without limitation, not requiring the delivery of certain of the items set forth on this Exhibit based on interpretive guidance provided by the Commission or its staff relating to Item 1122 of Regulation AB). For the avoidance of doubt, for purposes of this Exhibit O, other than with respect to Item 1122(d)(2)(iii), references to Master Servicer and Special Servicer below shall include any Sub-Servicer engaged by the Master Servicer or Special Servicer, as applicable. 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(iii) Any requirements in the transaction agreements to maintain a back-up servicer for the mortgage loans are maintained. N/A 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. Master Servicer Special Servicer Custodian (in the case of the Custodian, if such entity is not also the Certificate Administrator) 1122(d)(1)(v) Aggregation of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(i) Payments on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. Certificate Administrator 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements. Master Servicer Special Servicer Certificate Administrator (to the extent the Certificate Administrator was required to make an advance during the applicable calendar year) Back-Up Advancing Agent (to the extent the Back-Up Advancing 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Exchange Act. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage loans serviced by the Reporting Servicer. Certificate Administrator Operating Advisor (excluding clauses (C) and (D) in the case of the Operating Advisor) 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements. Certificate Administrator 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the Reporting Servicer’s investor records, or such other number of days specified in the transaction agreements. Certificate Administrator 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. Certificate Administrator 1122(d)(4)(i) Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documents. Master Servicer Special Servicer Custodian 1122(d)(4)(ii) Mortgage loan and related documents are safeguarded as required by the transaction agreements Custodian 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(4)(iv) Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Master Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan documents. Master Servicer 1122(d)(4)(v) The Master Servicer’s records regarding the mortgage loans agree with the Master Servicer’s records with respect to an obligor’s unpaid principal balance. Master Servicer 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor’s mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. Master Servicer Special Servicer 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. Special Servicer Operating Advisor 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). Master Servicer Special Servicer 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan documents. Master Servicer 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission. Master Servicer 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements. Master Servicer 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. N/A EXHIBIT P [Reserved]

SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by the referenced party Indenture Trustee shall address, at a minimum, the criteria identified as below as “Applicable Servicing Criteria” applicable to such party, as such criteria may be updated or limited by the Commission or its staff (including, without limitation, not requiring the delivery of certain of the items set forth on this Exhibit based on interpretive guidance provided by the Commission or its staff relating to Item 1122 of Regulation AB). For the avoidance of doubt, for purposes of this Exhibit O, other than with respect to Item 1122(d)(2)(iii), references to Master Servicer and Special Servicer below shall include any Sub-Servicer engaged by the Master Servicer or Special Servicer, as applicable. ”: 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. Master Servicer Special Servicer Certificate Administrator X 1122(d)(1)(iii) Any requirements in the transaction agreements to maintain a back-up servicer for the mortgage loans receivables are maintained. N/A 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. Master Servicer Special Servicer Custodian (in the case of the Custodian, if such entity is not also the Certificate Administrator) 1122(d)(1)(v) Aggregation of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(i) Payments on mortgage loans receivables are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. Certificate Administrator X 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements. Master Servicer Special Servicer Certificate Administrator (to the extent the Certificate Administrator was required to make an advance during the applicable calendar year) Back-Up Advancing Agent (to the extent the Back-Up Advancing 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements. Master Servicer Special Servicer Certificate Administrator X 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. Master Servicer Special Servicer Certificate Administrator X 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage loans receivables serviced by the Reporting Servicer. Certificate Administrator Operating Advisor (excluding clauses (C) and (D) in the case of the Operating Advisor) 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements. Certificate Administrator X 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the Reporting Servicer’s investor records, or such other number of days specified in the transaction agreements. Certificate Administrator X 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. Certificate Administrator X 1122(d)(4)(i) Collateral or security on mortgage loans receivables is maintained as required by the transaction agreements or related mortgage receivable loan documents. Master Servicer Special Servicer Custodian 1122(d)(4)(ii) Mortgage Receivable loan and related documents are safeguarded as required by the transaction agreements Custodian agreements. 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(4)(iv) Payments on mortgage loansreceivables, including any payoffs, made in accordance with the related mortgage receivable loan documents are posted to the Master Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage receivable loan documents. Master Servicer 1122(d)(4)(v) The Master Servicer’s records regarding the mortgage loans receivables agree with the Master Servicer’s records with respect to an obligor’s unpaid principal balance. Master Servicer 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor’s mortgage loans receivables (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. Master Servicer Special Servicer 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. Special Servicer Operating Advisor 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage loan receivable is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent mortgage loans receivables including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). Master Servicer Special Servicer 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage receivable loans with variable rates are computed based on the related mortgage receivable loan documents. Master Servicer 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage receivable loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage receivable loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loansreceivable, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission. Master Servicer 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements. Master Servicer 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. N/A EXHIBIT P [Reserved].

SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by the referenced party shall address, at a minimum, the criteria identified below as “Applicable Servicing Criteria” applicable to such party, as such criteria may be updated or limited by the Commission or its staff (including, without limitation, not requiring the delivery of certain of the items set forth on this Exhibit based on interpretive guidance provided by the Commission or its staff relating to Item 1122 of Regulation AB). For the avoidance of doubt, for purposes of this Exhibit O, other than with respect to Item 1122(d)(2)(iii), references to Master Servicer and Special Servicer below shall include any Sub-Servicer engaged by the Master Servicer or Special Servicer, as applicable. 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(iii) Any requirements in the transaction agreements to maintain a back-up servicer for the mortgage loans are maintained. N/A 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. Master Servicer Special Servicer Custodian (in the case of the Custodian, if such entity is not also the Certificate Administrator) 1122(d)(1)(v) Aggregation of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(i) Payments on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. Certificate Administrator 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements. Master Servicer Special Servicer Certificate Administrator Trustee (in the case of the Trustee, to the extent the Certificate Administrator Trustee was required to make an advance during the applicable calendar year) Back-Up Advancing Agent (to the extent the Back-Up Advancing 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Exchange Act. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage loans serviced by the Reporting Servicer. Certificate Administrator Operating Advisor (excluding clauses (C) and (D) in the case of the Operating Advisor) 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements. Certificate Administrator 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the Reporting Servicer’s investor records, or such other number of days specified in the transaction agreements. Certificate Administrator 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. Certificate Administrator 1122(d)(4)(i) Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documents. Master Servicer Special Servicer Custodian 1122(d)(4)(ii) Mortgage loan and related documents are safeguarded as required by the transaction agreements Custodian 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(4)(iv) Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Master Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan documents. Master Servicer 1122(d)(4)(v) The Master Servicer’s records regarding the mortgage loans agree with the Master ServicerSxxxxxxx’s records with respect to an obligor’s unpaid principal balance. Master Servicer 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor’s mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. Master Servicer Special Servicer 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. Special Servicer Operating Advisor 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). Master Servicer Special Servicer 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan documents. Master Servicer 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission. Master Servicer 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements. Master Servicer 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. N/A EXHIBIT P [Reserved]

SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by the referenced party shall address, at a minimum, the criteria identified below as “Applicable Servicing Criteria” applicable to such party, as such criteria may be updated or limited by the Commission or its staff (including, without limitation, not requiring the delivery of certain of the items set forth on this Exhibit based on interpretive guidance provided by the Commission or its staff relating to Item 1122 of Regulation AB). For the avoidance of doubt, for purposes of this Exhibit O, other than with respect to Item 1122(d)(2)(iii), references to Master Servicer and Special Servicer below shall include any Sub-Servicer engaged by the a Master Servicer or Special Servicer, as applicable. 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(iii) Any requirements in the transaction agreements to maintain a back-up servicer for the mortgage loans are maintained. N/A 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. Master Servicer Special Servicer Custodian (in the case of the Custodian, if such entity is not also the Certificate Administrator) 1122(d)(1)(v) Aggregation of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(i) Payments on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. Certificate Administrator 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements. Master Servicer Special Servicer Certificate Administrator (to the extent the Certificate Administrator was required to make an advance during the applicable calendar year) Back-Up Advancing Agent (to the extent the Back-Up Advancing 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Exchange Act. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage loans serviced by the Reporting Servicer. Certificate Administrator Operating Advisor (excluding clauses with respect to (CA) and (D) in the case of the Operating AdvisorB)) 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements. Certificate Administrator 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the Reporting Servicer’s investor records, or such other number of days specified in the transaction agreements. Certificate Administrator 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. Certificate Administrator 1122(d)(4)(i) Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documents. Master Servicer Special Servicer Custodian 1122(d)(4)(ii) Mortgage loan and related documents are safeguarded as required by the transaction agreements Custodian 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(4)(iv) Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Master Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, Master Servicer interest or other items (e.g., escrow) in accordance with the related mortgage loan documents. Master Servicer 1122(d)(4)(v) The Master Servicer’s records regarding the mortgage loans agree with the Master Servicer’s records with respect to an obligor’s unpaid principal balance. Master Servicer 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor’s mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. Master Servicer Special Servicer 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. Special Servicer Operating Advisor 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). Master Servicer Special Servicer 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan documents. Master Servicer 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission. Master Servicer 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements. Master Servicer 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. N/A EXHIBIT P [Reserved].

SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by the referenced party shall address, at a minimum, the criteria identified below as “Applicable Servicing Criteria” applicable to such party, as such criteria may be updated or limited by the Commission or its staff (including, without limitation, not requiring the delivery of certain of the items set forth on this Exhibit based on interpretive guidance provided by the Commission or its staff relating to Item 1122 of Regulation AB). For the avoidance of doubt, for purposes of this Exhibit O, other than with respect to Item 1122(d)(2)(iii), references to Master Servicer and Special Servicer below shall include any Sub-Servicer engaged by the a Master Servicer or Special Servicer, as applicable. 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements. Cert. Admin. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. Cert. Admin. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(iii) Any requirements in the transaction agreements to maintain a back-up servicer for the mortgage loans are maintained. N/A 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. Master Servicer Special Servicer Custodian (in the case of the Custodian, if such entity is not also the Certificate Administrator) 1122(d)(1)(v) Aggregation of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(i) Payments on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements. Cert. Admin. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. Certificate Administrator Cert. Admin. 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements. Trustee Master Servicer Special Servicer Certificate Administrator (to the extent the Certificate Administrator was required to make an advance during the applicable calendar year) Back-Up Advancing Agent (to the extent the Back-Up Advancing 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements. Cert. Admin. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Exchange Act. Cert. Admin. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. Cert. Admin. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. Cert. Admin. Master Servicer Special Servicer Certificate Administrator 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage loans serviced by the Reporting Servicer. Certificate Administrator Operating Cert. Admin. Trust Advisor (excluding clauses with respect to (CA) and (D) in the case of the Operating AdvisorB)) 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements. Certificate Administrator Cert. Admin. 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the Reporting Servicer’s investor records, or such other number of days specified in the transaction agreements. Certificate Administrator Cert. Admin. Master Servicer 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. Certificate Administrator 1122(d)(4)(i) Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documentsCert. Master Servicer Special Servicer Custodian 1122(d)(4)(ii) Mortgage loan and related documents are safeguarded as required by the transaction agreements Custodian 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(4)(iv) Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Master Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan documents. Master Servicer 1122(d)(4)(v) The Master Servicer’s records regarding the mortgage loans agree with the Master Servicer’s records with respect to an obligor’s unpaid principal balance. Master Servicer 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor’s mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. Master Servicer Special Servicer 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. Special Servicer Operating Advisor 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). Master Servicer Special Servicer 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan documents. Master Servicer 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission. Master Servicer 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements. Master Servicer 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. N/A EXHIBIT P [Reserved]Admin.

SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by [the referenced party Servicer] [Name of Subservicer] shall address, at a minimum, the criteria identified as below as “Applicable Servicing Criteria” applicable to such party, as such criteria may be updated or limited by the Commission or its staff (including, without limitation, not requiring the delivery of certain of the items set forth on this Exhibit based on interpretive guidance provided by the Commission or its staff relating to Item 1122 of Regulation AB). For the avoidance of doubt, for purposes of this Exhibit O, other than with respect to Item 1122(d)(2)(iii), references to Master Servicer and Special Servicer below shall include any Sub-Servicer engaged by the Master Servicer or Special Servicer, as applicable. ”: 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements. Master Servicer Special Servicer Certificate Administrator X 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. Master Servicer Special Servicer Certificate Administrator X 1122(d)(1)(iii) Any requirements in the transaction agreements to maintain a back-up servicer for the mortgage loans are maintained. N/A 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. Master Servicer Special Servicer Custodian (in the case of the Custodian, if such entity is not also the Certificate Administrator) 1122(d)(1)(v) Aggregation of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information. Master Servicer Special Servicer Certificate Administrator X 1122(d)(2)(i) Payments on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements. Master Servicer Special Servicer Certificate Administrator X 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. Certificate Administrator X 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements. Master Servicer Special Servicer Certificate Administrator (to the extent the Certificate Administrator was required to make an advance during the applicable calendar year) Back-Up Advancing Agent (to the extent the Back-Up Advancing X 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements. Master Servicer Special Servicer Certificate Administrator X 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. Master Servicer Special Servicer Certificate Administrator X 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. Master Servicer Special Servicer Certificate Administrator X 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. Master Servicer Special Servicer Certificate Administrator X 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage loans serviced by the Reporting Servicer. Certificate Administrator Operating Advisor (excluding clauses (C) and (D) in the case of the Operating Advisor) X 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements. Certificate Administrator X 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the Reporting Servicer’s investor records, or such other number of days specified in the transaction agreements. Certificate Administrator X 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. Certificate Administrator X 1122(d)(4)(i) Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documents. Master Servicer Special Servicer Custodian X 1122(d)(4)(ii) Mortgage loan and related documents are safeguarded as required by the transaction agreements Custodian agreements. X 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. Master Servicer Special Servicer Certificate Administrator X 1122(d)(4)(iv) Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Master Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan documents. Master Servicer X 1122(d)(4)(v) The Master Servicer’s records regarding the mortgage loans agree with the Master Servicer’s records with respect to an obligor’s unpaid principal balance. Master Servicer X 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor’s mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. Master Servicer Special Servicer X 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. Special Servicer Operating Advisor X 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). Master Servicer Special Servicer X 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan documents. Master Servicer X 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction agreements. Master Servicer X 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. Master Servicer X 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission. Master Servicer X 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements. Master Servicer X 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements. Master Servicer X 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. N/A EXHIBIT P [ReservedX] if obligated under transaction documents Re: The [ ] agreement dated as of [ ], 200[ ] (the “Agreement”), among [IDENTIFY PARTIES] I, ________________________________, the _______________________ of [NAME OF COMPANY], certify to, [the Depositor], and the Master Servicer [,Trustee], and their officers, with the knowledge and intent that they will rely upon this certification, that:

SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by Xxxxxx Mae, Inc., as the referenced party Servicer, shall address, at a minimum, the criteria identified below as (the “Applicable Servicing Criteria” applicable to such party, as such criteria may be updated or limited by the Commission or its staff (including, without limitation, not requiring the delivery of certain of the items set forth on this Exhibit based on interpretive guidance provided by the Commission or its staff relating to Item 1122 of Regulation AB). For the avoidance of doubt, for purposes of this Exhibit O, other than with respect to Item 1122(d)(2)(iii), references to Master Servicer and Special Servicer below shall include any Sub-Servicer engaged by the Master Servicer or Special Servicer, as applicable. ”): 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(iii) Any requirements in the transaction agreements Transaction Documents to maintain a back-up servicer for the mortgage trust student loans are maintained. N/A 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. Master Servicer Special Servicer Custodian (in the case of the Custodian, if such entity is not also the Certificate Administrator) 1122(d)(1)(v) Aggregation of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(i) Payments on mortgage trust student loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. Certificate Administrator N/A 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator (to the extent the Certificate Administrator was required to make an advance during the applicable calendar year) Back-Up Advancing Agent (to the extent the Back-Up Advancing 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreementsTransaction Documents. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreementsTransaction Documents; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements Transaction Documents and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreementsTransaction Documents; (B) provide information calculated in accordance with the terms specified in the transaction agreementsTransaction Documents; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage student loans serviced by the Reporting Servicer. Certificate Administrator Operating Advisor (excluding clauses (C) and (D) in the case of the Operating Advisor) N/A 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreementsTransaction Documents. Certificate Administrator N/A 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the Reporting Servicer’s investor records, or such other number of days specified in the transaction agreementsTransaction Documents. Certificate Administrator N/A 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. Certificate Administrator N/A 1122(d)(4)(i) Collateral or security on mortgage student loans is maintained as required by the transaction agreements Transaction Documents or related mortgage student loan documents. Master Servicer Special Servicer Custodian 1122(d)(4)(ii) Mortgage Student loan and related documents are safeguarded as required by the transaction agreements Custodian Transaction Documents 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(4)(iv) Payments on mortgage student loans, including any payoffs, made in accordance with the related mortgage student loan documents are posted to the Master Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreementsTransaction Documents, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage student loan documents. Master Servicer 1122(d)(4)(v) The Master Servicer’s records regarding the mortgage student loans agree with the Master Servicer’s records with respect to an obligor’s unpaid principal balance. Master Servicer 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor’s mortgage student loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements Transaction Documents and related pool asset documents. Master Servicer Special Servicer 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreementsTransaction Documents. Special Servicer Operating Advisor 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage student loan is delinquent in accordance with the transaction agreementsTransaction Documents. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreementsTransaction Documents, and describe the entity’s activities in monitoring delinquent mortgage student loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). Master Servicer Special Servicer 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage student loans with variable rates are computed based on the related mortgage student loan documents. Master Servicer 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage student loan documents, on at least an annual basis, or such other period specified in the transaction agreementsTransaction Documents; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage student loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage student loans, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission. Master Servicer 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreementsTransaction Documents. Master Servicer 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreementsTransaction Documents. N/A EXHIBIT P [Reserved]XXXXXX XXX, Inc., as Servicer Date: By: Name: Title: Re: The Servicing Agreement dated as of March 15, 2007 (the “Agreement”), among SLM Student Loan Trust 2007-3, as Issuer, Xxxxxx Mae, Inc., as Servicer, Xxxxxx Xxx, Inc., as Administrator, Chase Bank USA, National Association, as Eligible Lender Trustee, and Deutsche Bank Trust Company Americas, as Indenture Trustee I, , the of Xxxxxx Xxx, Inc. (the “Servicer”), certify to the Administrator, on behalf of the Issuer, and their officers, with the knowledge and intent that they will rely upon this certification, that:

SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by Xxxxxx Mae, Inc., as the referenced party Servicer, shall address, at a minimum, the criteria identified below as (the “Applicable Servicing Criteria” applicable to such party, as such criteria may be updated or limited by the Commission or its staff (including, without limitation, not requiring the delivery of certain of the items set forth on this Exhibit based on interpretive guidance provided by the Commission or its staff relating to Item 1122 of Regulation AB). For the avoidance of doubt, for purposes of this Exhibit O, other than with respect to Item 1122(d)(2)(iii), references to Master Servicer and Special Servicer below shall include any Sub-Servicer engaged by the Master Servicer or Special Servicer, as applicable. ”): 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreementsBasic Documents. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(iii) Any requirements in the transaction agreements Basic Documents to maintain a back-up servicer for the mortgage trust student loans are maintained. N/A 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreementsBasic Documents. Master Servicer Special Servicer Custodian (in the case of the Custodian, if such entity is not also the Certificate Administrator) 1122(d)(1)(v) Aggregation of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(i) Payments on mortgage trust student loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreementsBasic Documents. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. Certificate Administrator N/A 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreementsBasic Documents. Master Servicer Special Servicer Certificate Administrator (to the extent the Certificate Administrator was required to make an advance during the applicable calendar year) Back-Up Advancing Agent (to the extent the Back-Up Advancing 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreementsBasic Documents. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreementsBasic Documents. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreementsBasic Documents; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreementsBasic Documents. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements Basic Documents and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreementsBasic Documents; (B) provide information calculated in accordance with the terms specified in the transaction agreementsBasic Documents; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage student loans serviced by the Reporting Servicer. Certificate Administrator Operating Advisor (excluding clauses (C) and (D) in the case of the Operating Advisor) N/A 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreementsBasic Documents. Certificate Administrator N/A 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the Reporting Servicer’s investor records, or such other number of days specified in the transaction agreementsBasic Documents. Certificate Administrator N/A 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. Certificate Administrator N/A 1122(d)(4)(i) Collateral or security on mortgage student loans is maintained as required by the transaction agreements Basic Documents or related mortgage student loan documents. Master Servicer Special Servicer Custodian 1122(d)(4)(ii) Mortgage Student loan and related documents are safeguarded as required by the transaction agreements Custodian Basic Documents 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreementsBasic Documents. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(4)(iv) Payments on mortgage student loans, including any payoffs, made in accordance with the related mortgage student loan documents are posted to the Master Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreementsBasic Documents, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage student loan documents. Master Servicer 1122(d)(4)(v) The Master Servicer’s records regarding the mortgage student loans agree with the Master Servicer’s records with respect to an obligor’s unpaid principal balance. Master Servicer 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor’s mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. Master Servicer Special Servicer 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. Special Servicer Operating Advisor 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). Master Servicer Special Servicer 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan documents. Master Servicer 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission. Master Servicer 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements. Master Servicer 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. N/A EXHIBIT P [Reserved].

SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by Sxxxxx Mxx, Inc., as the referenced party Subservicer, shall address, at a minimum, the criteria identified below as “(the "Applicable Servicing Criteria” applicable to such party, as such criteria may be updated or limited by the Commission or its staff (including, without limitation, not requiring the delivery of certain of the items set forth on this Exhibit based on interpretive guidance provided by the Commission or its staff relating to Item 1122 of Regulation AB). For the avoidance of doubt, for purposes of this Exhibit O, other than with respect to Item 1122(d)(2)(iii), references to Master Servicer and Special Servicer below shall include any Sub-Servicer engaged by the Master Servicer or Special Servicer, as applicable. "): 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreementsBasic Documents. Master Servicer Special Servicer Certificate Administrator X 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s 's performance and compliance with such servicing activities. Master Servicer Special Servicer Certificate Administrator X 1122(d)(1)(iii) Any requirements in the transaction agreements Basic Documents to maintain a back-up servicer for the mortgage loans Subserviced Student Loans are maintained. N/A 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. Master Servicer Special Servicer Custodian (in the case of the Custodian, if such entity is not also the Certificate Administrator) 1122(d)(1)(v) Aggregation of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information. Master Servicer Special Servicer Certificate Administrator X 1122(d)(2)(i) Payments on mortgage loans Subserviced Student Loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreementsBasic Documents. Master Servicer Special Servicer Certificate Administrator X 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. Certificate Administrator X 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreementsBasic Documents. Master Servicer Special Servicer Certificate Administrator (to the extent the Certificate Administrator was required to make an advance during the applicable calendar year) Back-Up Advancing Agent (to the extent the Back-Up Advancing X 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreementsBasic Documents. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreementsBasic Documents. For purposes of this criterion, “"federally insured depository institution” " with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. Master Servicer Special Servicer Certificate Administrator X 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. Master Servicer Special Servicer Certificate Administrator X 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreementsBasic Documents; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreementsBasic Documents. Master Servicer Special Servicer Certificate Administrator X 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements Basic Documents and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreementsBasic Documents; (B) provide information calculated in accordance with the terms specified in the transaction agreementsBasic Documents; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ ' or the trustee’s 's records as to the total unpaid principal balance and number of mortgage student loans serviced by the Reporting ServicerSubservicer. Certificate Administrator Operating Advisor (excluding clauses (C) and (D) in the case of the Operating Advisor) X 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreementsBasic Documents. Certificate Administrator X 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the Reporting Servicer’s Subservicer's investor records, or such other number of days specified in the transaction agreementsBasic Documents. Certificate Administrator X 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. Certificate Administrator X 1122(d)(4)(i) Collateral or security on mortgage student loans is maintained as required by the transaction agreements Basic Documents or related mortgage student loan documents. Master Servicer Special Servicer Custodian X 1122(d)(4)(ii) Mortgage Student loan and related documents are safeguarded as required by the transaction agreements Custodian Basic Documents X 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreementsBasic Documents. Master Servicer Special Servicer Certificate Administrator X 1122(d)(4)(iv) Payments on mortgage student loans, including any payoffs, made in accordance with the related mortgage student loan documents are posted to the Master Servicer’s Subservicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreementsBasic Documents, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage student loan documents. Master Servicer X 1122(d)(4)(v) The Master Servicer’s Subservicer's records regarding the mortgage student loans agree with the Master Servicer’s Subservicer's records with respect to an obligor’s 's unpaid principal balance. Master Servicer X 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor’s mortgage 's student loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements Basic Documents and related pool asset documents. Master Servicer Special Servicer X 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreementsBasic Documents. Special Servicer Operating Advisor X 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage student loan is delinquent in X accordance with the transaction agreementsBasic Documents. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreementsBasic Documents, and describe the entity’s 's activities in monitoring delinquent mortgage student loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). Master Servicer Special Servicer 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage student loans with variable rates are computed based on the related mortgage student loan documents. Master Servicer X 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage 's student loan documents, on at least an annual basis, or such other period specified in the transaction agreementsBasic Documents; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage student loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage student loans, or such other number of days specified in the transaction agreementsBasic Documents. Master Servicer X 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer Subservicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreementsBasic Documents. Master Servicer X 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s Subservicer's funds and not charged to the obligor, unless the late payment was due to the obligor’s 's error or omission. Master Servicer X 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s 's records maintained by the servicerSubservicer, or such other number of days specified in the transaction agreementsBasic Documents. Master Servicer X 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreementsBasic Documents. Master Servicer X 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreementsBasic Documents. N/A EXHIBIT P [Reserved]X Sxxxxx Mae, Inc., not in its individual capacity but solely as Subservicer Date: By: Name: Title:

SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by Sxxxxx Mae, Inc., as the referenced party Servicer, shall address, at a minimum, the criteria identified below as (the “Applicable Servicing Criteria” applicable to such party, as such criteria may be updated or limited by the Commission or its staff (including, without limitation, not requiring the delivery of certain of the items set forth on this Exhibit based on interpretive guidance provided by the Commission or its staff relating to Item 1122 of Regulation AB). For the avoidance of doubt, for purposes of this Exhibit O, other than with respect to Item 1122(d)(2)(iii), references to Master Servicer and Special Servicer below shall include any Sub-Servicer engaged by the Master Servicer or Special Servicer, as applicable. ”): 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(iii) Any requirements in the transaction agreements Transaction Documents to maintain a back-up servicer for the mortgage trust student loans are maintained. N/A 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. Master Servicer Special Servicer Custodian (in the case of the Custodian, if such entity is not also the Certificate Administrator) 1122(d)(1)(v) Aggregation of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(i) Payments on mortgage trust student loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. Certificate Administrator N/A 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator (to the extent the Certificate Administrator was required to make an advance during the applicable calendar year) Back-Up Advancing Agent (to the extent the Back-Up Advancing 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreementsTransaction Documents. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreementsTransaction Documents; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements Transaction Documents and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreementsTransaction Documents; (B) provide information calculated in accordance with the terms specified in the transaction agreementsTransaction Documents; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage student loans serviced by the Reporting Servicer. Certificate Administrator Operating Advisor (excluding clauses (C) and (D) in the case of the Operating Advisor) N/A 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreementsTransaction Documents. Certificate Administrator N/A 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the Reporting Servicer’s investor records, or such other number of days specified in the transaction agreementsTransaction Documents. Certificate Administrator N/A 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. Certificate Administrator N/A 1122(d)(4)(i) Collateral or security on mortgage student loans is maintained as required by the transaction agreements Transaction Documents or related mortgage student loan documents. Master Servicer Special Servicer Custodian 1122(d)(4)(ii) Mortgage Student loan and related documents are safeguarded as required by the transaction agreements Custodian Transaction Documents 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(4)(iv) Payments on mortgage student loans, including any payoffs, made in accordance with the related mortgage student loan documents are posted to the Master Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreementsTransaction Documents, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage student loan documents. Master Servicer 1122(d)(4)(v) The Master Servicer’s records regarding the mortgage student loans agree with the Master Servicer’s records with respect to an obligor’s unpaid principal balance. Master Servicer 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor’s mortgage student loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements Transaction Documents and related pool asset documents. Master Servicer Special Servicer 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreementsTransaction Documents. Special Servicer Operating Advisor 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage student loan is delinquent in accordance with the transaction agreementsTransaction Documents. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreementsTransaction Documents, and describe the entity’s activities in monitoring delinquent mortgage student loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). Master Servicer Special Servicer 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage student loans with variable rates are computed based on the related mortgage student loan documents. Master Servicer 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage student loan documents, on at least an annual basis, or such other period specified in the transaction agreementsTransaction Documents; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage student loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage student loans, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission. Master Servicer 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreementsTransaction Documents. Master Servicer 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreementsTransaction Documents. N/A EXHIBIT P [Reserved]SXXXXX MXX, Inc., as Servicer Date: By: Name: Title: Re: The Servicing Agreement dated as of September 28, 2006 (the “Agreement”), among SLM Private Credit Student Loan Trust 2006-C, as Issuer, Sxxxxx Mae, Inc., as Servicer, Sxxxxx Mxx, Inc., as Administrator, Chase Bank USA, National Association, as Trustee, and The Bank of New York, as Indenture Trustee I, , the of Sxxxxx Mxx, Inc. (the “Servicer”), certify to the Administrator, on behalf of the Issuer, and their officers, with the knowledge and intent that they will rely upon this certification, that:

SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by Xxxxxx Mae, Inc., as the referenced party Servicer, shall address, at a minimum, the criteria identified below as (the “Applicable Servicing Criteria” applicable to such party, as such criteria may be updated or limited by the Commission or its staff (including, without limitation, not requiring the delivery of certain of the items set forth on this Exhibit based on interpretive guidance provided by the Commission or its staff relating to Item 1122 of Regulation AB). For the avoidance of doubt, for purposes of this Exhibit O, other than with respect to Item 1122(d)(2)(iii), references to Master Servicer and Special Servicer below shall include any Sub-Servicer engaged by the Master Servicer or Special Servicer, as applicable. ”): 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(iii) Any requirements in the transaction agreements Transaction Documents to maintain a back-up servicer for the mortgage trust student loans are maintained. N/A 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. Master Servicer Special Servicer Custodian (in the case of the Custodian, if such entity is not also the Certificate Administrator) 1122(d)(1)(v) Aggregation of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(i) Payments on mortgage trust student loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. Certificate Administrator N/A 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator (to the extent the Certificate Administrator was required to make an advance during the applicable calendar year) Back-Up Advancing Agent (to the extent the Back-Up Advancing 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreementsTransaction Documents. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreementsTransaction Documents; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements Transaction Documents and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreementsTransaction Documents; (B) provide information calculated in accordance with the terms specified in the transaction agreementsTransaction Documents; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage student loans serviced by the Reporting Servicer. Certificate Administrator Operating Advisor (excluding clauses (C) and (D) in the case of the Operating Advisor) N/A 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreementsTransaction Documents. Certificate Administrator N/A 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the Reporting Servicer’s investor records, or such other number of days specified in the transaction agreementsTransaction Documents. Certificate Administrator N/A 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. Certificate Administrator N/A 1122(d)(4)(i) Collateral or security on mortgage student loans is maintained as required by the transaction agreements Transaction Documents or related mortgage student loan documents. Master Servicer Special Servicer Custodian 1122(d)(4)(ii) Mortgage Student loan and related documents are safeguarded as required by the transaction agreements Custodian Transaction Documents 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(4)(iv) Payments on mortgage student loans, including any payoffs, made in accordance with the related mortgage student loan documents are posted to the Master Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreementsTransaction Documents, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage student loan documents. Master Servicer 1122(d)(4)(v) The Master Servicer’s records regarding the mortgage student loans agree with the Master Servicer’s records with respect to an obligor’s unpaid principal balance. Master Servicer 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor’s mortgage student loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements Transaction Documents and related pool asset documents. Master Servicer Special Servicer 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreementsTransaction Documents. Special Servicer Operating Advisor 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage student loan is delinquent in accordance with the transaction agreementsTransaction Documents. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreementsTransaction Documents, and describe the entity’s activities in monitoring delinquent mortgage student loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). Master Servicer Special Servicer 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage student loans with variable rates are computed based on the related mortgage student loan documents. Master Servicer 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage student loan documents, on at least an annual basis, or such other period specified in the transaction agreementsTransaction Documents; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage student loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage student loans, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission. Master Servicer 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreementsTransaction Documents. Master Servicer 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreementsTransaction Documents. N/A EXHIBIT P [Reserved]XXXXXX XXX, Inc., as Servicer Date: By: Name: Title: Re: The Servicing Agreement dated as of February 22, 2007 (the “Agreement”), among SLM Student Loan Trust 2007-2, as Issuer, Xxxxxx Mae, Inc., as Servicer, Xxxxxx Xxx, Inc., as Administrator, Chase Bank USA, National Association, as Eligible Lender Trustee, and Deutsche Bank Trust Company Americas, as Indenture Trustee I, , the of Xxxxxx Xxx, Inc. (the “Servicer”), certify to the Administrator, on behalf of the Issuer, and their officers, with the knowledge and intent that they will rely upon this certification, that:

SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by the referenced party Indenture Trustee shall address, at a minimum, the criteria identified below as “Applicable Servicing Criteria” applicable to such party, as such criteria may be updated or limited by the Commission or its staff (including, without limitation, not requiring the delivery of certain of the items set forth on this Exhibit based on interpretive guidance provided by the Commission or its staff relating to Item 1122 of Regulation AB). For the avoidance of doubt, for purposes of this Exhibit O, other than with respect to Item 1122(d)(2)(iii), references to Master Servicer and Special Servicer below shall include any Sub-Servicer engaged by the Master Servicer or Special Servicer, as applicable. ”: 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. Master Servicer Special Servicer Certificate Administrator ü 1122(d)(1)(iii) Any requirements in the transaction agreements to maintain a back-up servicer for the mortgage loans credit card accounts or accounts are maintained. N/A 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. Master Servicer Special Servicer Custodian (in the case of the Custodian, if such entity is not also the Certificate Administrator) 1122(d)(1)(v) Aggregation of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(i) Payments on mortgage loans credit card accounts are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements. Master Servicer Special Servicer Certificate Administrator ü 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. Certificate Administrator ü 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements. Master Servicer Special Servicer Certificate Administrator (to the extent the Certificate Administrator was required to make an advance during the applicable calendar year) Back-Up Advancing Agent (to the extent the Back-Up Advancing 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) are mathematically accurate; (B) are prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) are reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage loans credit card accounts serviced by the Reporting Servicer. Certificate Administrator Operating Advisor (excluding clauses (C) and (D) in the case of the Operating Advisor) 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements. Certificate Administrator ü 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the Reporting Servicer’s investor records, or such other number of days specified in the transaction agreements. Certificate Administrator ü 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. Certificate Administrator ü 1122(d)(4)(i) Collateral or security on mortgage loans pool assets is maintained as required by the transaction agreements or related mortgage loan asset pool documents. Master Servicer Special Servicer Custodian ü 1122(d)(4)(ii) Mortgage loan Pool assets and related documents are safeguarded as required by the transaction agreements Custodian agreements. ü 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(4)(iv) Payments on mortgage loanscredit card accounts, including any payoffs, made in accordance with the related mortgage loan credit card accounts documents are posted to the Master Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan asset pool documents. Master Servicer 1122(d)(4)(v) The Master Servicer’s records regarding the mortgage loans accounts and the accounts agree with the Master Servicer’s records with respect to an obligor’s unpaid principal balance. Master Servicer 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor’s mortgage loans account (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. Master Servicer Special Servicer 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. Special Servicer Operating Advisor 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage loan an Account is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent mortgage loans Accounts including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). Master Servicer Special Servicer 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage loans Accounts with variable rates are computed based on the related mortgage loan Account documents. Master Servicer 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage loan Account documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan Account documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loansAccounts, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission. Master Servicer 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements. Master Servicer 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. N/A EXHIBIT P [Reserved____________________], as Indenture Trustee Date: _________________________ By: _________________________ Name: Title: Reference is hereby made to the INDENTURE, dated as of [_________], 20[__], by and between Wachovia Card Master Trust, a Delaware statutory trust (the “Issuing Entity”) and [____________________], a national banking association, as indenture trustee (the “Indenture Trustee”) and collateral agent. In connection with transactions contemplated by a Terms Agreement, dated as of [ ] [ ], 20[ ], incorporating an Underwriting Agreement, dated as of [ ] [ ], 20[ ] (together, the “Underwriting Agreement”), by and among the underwriter (the “Underwriter”), [Wachovia Card Receivables Corp.], a Delaware [corporation], and the Issuing Entity, relating to the sale by the Issuing Entity to the Underwriter of $[ ] in aggregate principal amount of Class [ ](20[ ]- [ ]) Notes (the “Class [ ](20[ ]- [ ]) Notes”), the undersigned, an authorized officer of the Indenture Trustee, hereby certifies the following:

SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by Sxxxxx Mxx, Inc., as the referenced party Servicer, shall address, at a minimum, the criteria identified below as (the “Applicable Servicing Criteria” applicable to such party, as such criteria may be updated or limited by the Commission or its staff (including, without limitation, not requiring the delivery of certain of the items set forth on this Exhibit based on interpretive guidance provided by the Commission or its staff relating to Item 1122 of Regulation AB). For the avoidance of doubt, for purposes of this Exhibit O, other than with respect to Item 1122(d)(2)(iii), references to Master Servicer and Special Servicer below shall include any Sub-Servicer engaged by the Master Servicer or Special Servicer, as applicable. ”): 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreementsBasic Documents. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(iii) Any requirements in the transaction agreements Basic Documents to maintain a back-up servicer for the mortgage trust student loans are maintained. N/A 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreementsBasic Documents. Master Servicer Special Servicer Custodian (in the case of the Custodian, if such entity is not also the Certificate Administrator) 1122(d)(1)(v) Aggregation of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(i) Payments on mortgage trust student loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreementsBasic Documents. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. Certificate Administrator N/A 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreementsBasic Documents. Master Servicer Special Servicer Certificate Administrator (to the extent the Certificate Administrator was required to make an advance during the applicable calendar year) Back-Up Advancing Agent (to the extent the Back-Up Advancing 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreementsBasic Documents. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreementsBasic Documents. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreementsBasic Documents; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreementsBasic Documents. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements Basic Documents and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreementsBasic Documents; (B) provide information calculated in accordance with the terms specified in the transaction agreementsBasic Documents; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage student loans serviced by the Reporting Servicer. Certificate Administrator Operating Advisor (excluding clauses (C) and (D) in the case of the Operating Advisor) N/A 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreementsBasic Documents. Certificate Administrator N/A 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the Reporting Servicer’s investor records, or such other number of days specified in the transaction agreementsBasic Documents. Certificate Administrator N/A 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. Certificate Administrator N/A 1122(d)(4)(i) Collateral or security on mortgage student loans is maintained as required by the transaction agreements Basic Documents or related mortgage student loan documents. Master Servicer Special Servicer Custodian 1122(d)(4)(ii) Mortgage Student loan and related documents are safeguarded as required by the transaction agreements Custodian Basic Documents 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreementsBasic Documents. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(4)(iv) Payments on mortgage student loans, including any payoffs, made in accordance with the related mortgage student loan documents are posted to the Master Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreementsBasic Documents, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage student loan documents. Master Servicer 1122(d)(4)(v) The Master Servicer’s records regarding the mortgage student loans agree with the Master Servicer’s records with respect to an obligor’s unpaid principal balance. Master Servicer 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor’s mortgage student loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements Basic Documents and related pool asset documents. Master Servicer Special Servicer 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreementsBasic Documents. Special Servicer Operating Advisor 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage student loan is delinquent in accordance with the transaction agreementsBasic Documents. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreementsBasic Documents, and describe the entity’s activities in monitoring delinquent mortgage student loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). Master Servicer Special Servicer 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage student loans with variable rates are computed based on the related mortgage student loan documents. Master Servicer 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage student loan documents, on at least an annual basis, or such other period specified in the transaction agreementsBasic Documents; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage student loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage student loans, or such other number of days specified in the transaction agreementsBasic Documents. Master Servicer 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreementsBasic Documents. Master Servicer 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission. Master Servicer 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreementsBasic Documents. Master Servicer 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreementsBasic Documents. Master Servicer 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreementsBasic Documents. N/A EXHIBIT P [Reserved]SXXXXX MAE, Inc., as Servicer Date: _________________________ By: _________________________ Name: Title: Re: The Servicing Agreement dated as of March 3, 2011 (the “Agreement”), among SLM Student Loan Trust 2011-1, as Issuer, Sxxxxx Mxx, Inc., as Servicer, Sxxxxx Mae, Inc., as Administrator, The Bank of New York Mellon Trust Company, National Association, as Eligible Lender Trustee, and Deutsche Bank Trust Company Americas, as Indenture Trustee I, ________________________________, the _______________________ of Sxxxxx Mxx, Inc. (the “Servicer”), certify to the Administrator, on behalf of the Issuer, and their officers, with the knowledge and intent that they will rely upon this certification, that:

SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by the referenced party shall address, at a minimum, the criteria identified below as “Applicable Servicing Criteria” applicable to such party, as such criteria may be updated or limited by the Commission or its staff (including, without limitation, not requiring the delivery of certain of the items set forth on this Exhibit based on interpretive guidance provided by the Commission or its staff relating to Item 1122 of Regulation AB). For the avoidance of doubt, for purposes of this Exhibit O, other than with respect to Item 1122(d)(2)(iii), references to Master Servicer and Special Servicer below shall include any Sub-Servicer engaged by the a Master Servicer or Special Servicer, as applicable. 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(iii) Any requirements in the transaction agreements to maintain a back-up servicer for the mortgage loans are maintained. N/A 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. Master Servicer Special Servicer Custodian (in the case of the Custodian, if such entity is not also the Certificate Administrator) 1122(d)(1)(v) Aggregation of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(i) Payments on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. Certificate Administrator 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements. Master Servicer Special Servicer Certificate Administrator (to the extent the Certificate Administrator was required to make an advance during the applicable calendar year) Back-Up Advancing Agent (to the extent the Back-Up Advancing 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Exchange Act. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage loans serviced by the Reporting Servicer. Certificate Administrator Operating Advisor (excluding clauses (C) and (D) in the case of the Operating Advisor) 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements. Certificate Administrator 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the Reporting Servicer’s investor records, or such other number of days specified in the transaction agreements. Certificate Administrator 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. Certificate Administrator 1122(d)(4)(i) Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documents. Master Servicer Special Servicer Custodian Certificate Administrator 1122(d)(4)(ii) Mortgage loan and related documents are safeguarded as required by the transaction agreements Custodian Certificate Administrator 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(4)(iv) Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Master Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan documents. Master Servicer 1122(d)(4)(v) The Master Reporting Servicer’s records regarding the mortgage loans agree with the Master Reporting Servicer’s records with respect to an obligor’s unpaid principal balance. Master Servicer 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor’s mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. Master Servicer Special Servicer SERVICING CRITERIA APPLICABLE SERVICING CRITERIA 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. Special Servicer Operating Advisor 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). Master Servicer Special Servicer 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan documents. Master Servicer 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission. Master Servicer 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements. Master Servicer 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. N/A EXHIBIT P [Reserved]1 8YBBV2 GSMC Park Place Mall Park Mall L.L.C. Retail 200,000,000 4/11/2011 360 355 GGPLP L.L.C. No 0 0 2 4770 CGM 1000 Xxxxxxxx 0000 Xxxxxxxx Owner LLC and 1000 Xxxxxxxx Owner LLC Retail 180,000,000 6/7/2011 0 0 Jxxx Xxxxxx No 0 0 3.01 6P0VX4-1 CBTC 28 Harrisonburg Multifamily 3.02 6P0VX4-2 CBTC 26 Morgantown Multifamily 3.03 6P0VX4-3 CBTC 29 San Marcos Multifamily

SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by Xxxxxx Mae, Inc., as the referenced party Servicer, shall address, at a minimum, the criteria identified below as (the “Applicable Servicing Criteria” applicable to such party, as such criteria may be updated or limited by the Commission or its staff (including, without limitation, not requiring the delivery of certain of the items set forth on this Exhibit based on interpretive guidance provided by the Commission or its staff relating to Item 1122 of Regulation AB). For the avoidance of doubt, for purposes of this Exhibit O, other than with respect to Item 1122(d)(2)(iii), references to Master Servicer and Special Servicer below shall include any Sub-Servicer engaged by the Master Servicer or Special Servicer, as applicable. ”): 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(iii) Any requirements in the transaction agreements Transaction Documents to maintain a back-up servicer for the mortgage trust student loans are maintained. N/A 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. Master Servicer Special Servicer Custodian (in the case of the Custodian, if such entity is not also the Certificate Administrator) 1122(d)(1)(v) Aggregation of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(i) Payments on mortgage trust student loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. Certificate Administrator N/A 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator (to the extent the Certificate Administrator was required to make an advance during the applicable calendar year) Back-Up Advancing Agent (to the extent the Back-Up Advancing 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreementsTransaction Documents. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreementsTransaction Documents; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements Transaction Documents and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreementsTransaction Documents; (B) provide information calculated in accordance with the terms specified in the transaction agreementsTransaction Documents; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage student loans serviced by the Reporting Servicer. Certificate Administrator Operating Advisor (excluding clauses (C) and (D) in the case of the Operating Advisor) N/A 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreementsTransaction Documents. Certificate Administrator N/A 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the Reporting Servicer’s investor records, or such other number of days specified in the transaction agreementsTransaction Documents. Certificate Administrator N/A 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. Certificate Administrator N/A 1122(d)(4)(i) Collateral or security on mortgage student loans is maintained as required by the transaction agreements Transaction Documents or related mortgage student loan documents. Master Servicer Special Servicer Custodian 1122(d)(4)(ii) Mortgage Student loan and related documents are safeguarded as required by the transaction agreements Custodian Transaction Documents 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(4)(iv) Payments on mortgage student loans, including any payoffs, made in accordance with the related mortgage student loan documents are posted to the Master Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreementsTransaction Documents, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage student loan documents. Master Servicer 1122(d)(4)(v) The Master Servicer’s records regarding the mortgage student loans agree with the Master Servicer’s records with respect to an obligor’s unpaid principal balance. Master Servicer 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor’s mortgage student loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements Transaction Documents and related pool asset documents. Master Servicer Special Servicer 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreementsTransaction Documents. Special Servicer Operating Advisor 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage student loan is delinquent in accordance with the transaction agreementsTransaction Documents. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreementsTransaction Documents, and describe the entity’s activities in monitoring delinquent mortgage student loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). Master Servicer Special Servicer 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage student loans with variable rates are computed based on the related mortgage student loan documents. Master Servicer 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage student loan documents, on at least an annual basis, or such other period specified in the transaction agreementsTransaction Documents; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage student loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage student loans, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission. Master Servicer 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreementsTransaction Documents. Master Servicer 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreementsTransaction Documents. N/A EXHIBIT P [Reserved]XXXXXX XXX, Inc., as Servicer Date: By: Name: Title: Re: The Servicing Agreement dated as of April 5, 2007 (the “Agreement”), among SLM Student Loan Trust 2007-4, as Issuer, Xxxxxx Mae, Inc., as Servicer, Xxxxxx Xxx, Inc., as Administrator, Chase Bank USA, National Association, as Eligible Lender Trustee, and Deutsche Bank Trust Company Americas, as Indenture Trustee I, , the of Xxxxxx Xxx, Inc. (the “Servicer”), certify to the Administrator, on behalf of the Issuer, and their officers, with the knowledge and intent that they will rely upon this certification, that:

SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by Xxxxxx Mae, Inc., as the referenced party Servicer, shall address, at a minimum, the criteria identified below as (the “Applicable Servicing Criteria” applicable to such party, as such criteria may be updated or limited by the Commission or its staff (including, without limitation, not requiring the delivery of certain of the items set forth on this Exhibit based on interpretive guidance provided by the Commission or its staff relating to Item 1122 of Regulation AB). For the avoidance of doubt, for purposes of this Exhibit O, other than with respect to Item 1122(d)(2)(iii), references to Master Servicer and Special Servicer below shall include any Sub-Servicer engaged by the Master Servicer or Special Servicer, as applicable. ”): 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(iii) Any requirements in the transaction agreements Transaction Documents to maintain a back-up servicer for the mortgage trust student loans are maintained. N/A 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. Master Servicer Special Servicer Custodian (in the case of the Custodian, if such entity is not also the Certificate Administrator) 1122(d)(1)(v) Aggregation of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(i) Payments on mortgage trust student loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. Certificate Administrator N/A 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator (to the extent the Certificate Administrator was required to make an advance during the applicable calendar year) Back-Up Advancing Agent (to the extent the Back-Up Advancing 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreementsTransaction Documents. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreementsTransaction Documents; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements Transaction Documents and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreementsTransaction Documents; (B) provide information calculated in accordance with the terms specified in the transaction agreementsTransaction Documents; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage student loans serviced by the Reporting Servicer. Certificate Administrator Operating Advisor (excluding clauses (C) and (D) in the case of the Operating Advisor) N/A 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreementsTransaction Documents. Certificate Administrator N/A 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the Reporting Servicer’s investor records, or such other number of days specified in the transaction agreementsTransaction Documents. Certificate Administrator N/A 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. Certificate Administrator N/A 1122(d)(4)(i) Collateral or security on mortgage student loans is maintained as required by the transaction agreements Transaction Documents or related mortgage student loan documents. Master Servicer Special Servicer Custodian 1122(d)(4)(ii) Mortgage Student loan and related documents are safeguarded as required by the transaction agreements Custodian Transaction Documents 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(4)(iv) Payments on mortgage student loans, including any payoffs, made in accordance with the related mortgage student loan documents are posted to the Master Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreementsTransaction Documents, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage student loan documents. Master Servicer 1122(d)(4)(v) The Master Servicer’s records regarding the mortgage student loans agree with the Master Servicer’s records with respect to an obligor’s unpaid principal balance. Master Servicer 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor’s mortgage student loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements Transaction Documents and related pool asset documents. Master Servicer Special Servicer 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreementsTransaction Documents. Special Servicer Operating Advisor 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage student loan is delinquent in accordance with the transaction agreementsTransaction Documents. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreementsTransaction Documents, and describe the entity’s activities in monitoring delinquent mortgage student loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). Master Servicer Special Servicer 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage student loans with variable rates are computed based on the related mortgage student loan documents. Master Servicer 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage student loan documents, on at least an annual basis, or such other period specified in the transaction agreementsTransaction Documents; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage student loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage student loans, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission. Master Servicer 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreementsTransaction Documents. Master Servicer 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreementsTransaction Documents. N/A EXHIBIT P [Reserved]XXXXXX XXX, Inc., as Servicer Date: By: Name: Title: Re: The Servicing Agreement dated as of July 19, 2007 (the “Agreement”), among SLM Student Loan Trust 2007-5, as Issuer, Xxxxxx Mae, Inc., as Servicer, Xxxxxx Xxx, Inc., as Administrator, The Bank of New York Trust Company, N.A., as Eligible Lender Trustee, and Deutsche Bank Trust Company Americas, as Indenture Trustee I, , the of Xxxxxx Mae, Inc. (the “Servicer”), certify to the Administrator, on behalf of the Issuer, and their officers, with the knowledge and intent that they will rely upon this certification, that:

SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by Xxxxxx Mae, Inc., as the referenced party Servicer, shall address, at a minimum, the criteria identified below as (the “Applicable Servicing Criteria” applicable to such party, as such criteria may be updated or limited by the Commission or its staff (including, without limitation, not requiring the delivery of certain of the items set forth on this Exhibit based on interpretive guidance provided by the Commission or its staff relating to Item 1122 of Regulation AB). For the avoidance of doubt, for purposes of this Exhibit O, other than with respect to Item 1122(d)(2)(iii), references to Master Servicer and Special Servicer below shall include any Sub-Servicer engaged by the Master Servicer or Special Servicer, as applicable. ”): 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreementsBasic Documents. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(iii) Any requirements in the transaction agreements Basic Documents to maintain a back-up servicer for the mortgage trust student loans are maintained. N/A 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreementsBasic Documents. Master Servicer Special Servicer Custodian (in the case of the Custodian, if such entity is not also the Certificate Administrator) 1122(d)(1)(v) Aggregation of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(i) Payments on mortgage trust student loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreementsBasic Documents. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. Certificate Administrator N/A 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreementsBasic Documents. Master Servicer Special Servicer Certificate Administrator (to the extent the Certificate Administrator was required to make an advance during the applicable calendar year) Back-Up Advancing Agent (to the extent the Back-Up Advancing 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreementsBasic Documents. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreementsBasic Documents. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage loans serviced by the Reporting Servicer. Certificate Administrator Operating Advisor (excluding clauses (C) and (D) in the case of the Operating Advisor) 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements. Certificate Administrator 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the Reporting Servicer’s investor records, or such other number of days specified in the transaction agreements. Certificate Administrator 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. Certificate Administrator 1122(d)(4)(i) Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documents. Master Servicer Special Servicer Custodian 1122(d)(4)(ii) Mortgage loan and related documents are safeguarded as required by the transaction agreements Custodian 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(4)(iv) Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Master Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan documents. Master Servicer 1122(d)(4)(v) The Master Servicer’s records regarding the mortgage loans agree with the Master Servicer’s records with respect to an obligor’s unpaid principal balance. Master Servicer 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor’s mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. Master Servicer Special Servicer 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. Special Servicer Operating Advisor 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). Master Servicer Special Servicer 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan documents. Master Servicer 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission. Master Servicer 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements. Master Servicer 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. N/A EXHIBIT P [Reserved]clearing

SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by Xxxxxx Mae, Inc., as the referenced party Servicer, shall address, at a minimum, the criteria identified below as (the “Applicable Servicing Criteria” applicable to such party, as such criteria may be updated or limited by the Commission or its staff (including, without limitation, not requiring the delivery of certain of the items set forth on this Exhibit based on interpretive guidance provided by the Commission or its staff relating to Item 1122 of Regulation AB). For the avoidance of doubt, for purposes of this Exhibit O, other than with respect to Item 1122(d)(2)(iii), references to Master Servicer and Special Servicer below shall include any Sub-Servicer engaged by the Master Servicer or Special Servicer, as applicable. ”): 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(iii) Any requirements in the transaction agreements to maintain a back-up servicer for the mortgage trust student loans are maintained. N/A 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. Master Servicer Special Servicer Custodian (in the case of the Custodian, if such entity is not also the Certificate Administrator) 1122(d)(1)(v) Aggregation of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(i) Payments on mortgage trust student loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. Certificate Administrator N/A 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements. Master Servicer Special Servicer Certificate Administrator (to the extent the Certificate Administrator was required to make an advance during the applicable calendar year) Back-Up Advancing Agent (to the extent the Back-Up Advancing 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage student loans serviced by the Reporting Servicer. Certificate Administrator Operating Advisor (excluding clauses (C) and (D) in the case of the Operating Advisor) N/A 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements. Certificate Administrator N/A 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the Reporting Servicer’s investor records, or such other number of days specified in the transaction agreements. Certificate Administrator N/A 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. Certificate Administrator N/A 1122(d)(4)(i) Collateral or security on mortgage student loans is maintained as required by the transaction agreements or related mortgage student loan documents. Master Servicer Special Servicer Custodian 1122(d)(4)(ii) Mortgage Student loan and related documents are safeguarded as required by the transaction agreements Custodian 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(4)(iv) Payments on mortgage student loans, including any payoffs, made in accordance with the related mortgage student loan documents are posted to the Master Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage student loan documents. Master Servicer 1122(d)(4)(v) The Master Servicer’s records regarding the mortgage student loans agree with the Master Servicer’s records with respect to an obligor’s unpaid principal balance. Master Servicer 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor’s mortgage student loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. Master Servicer Special Servicer 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. Special Servicer Operating Advisor 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage student loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent mortgage student loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). Master Servicer Special Servicer 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage student loans with variable rates are computed based on the related mortgage student loan documents. Master Servicer 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage student loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage student loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage student loans, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission. Master Servicer 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements. Master Servicer 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements. Master Servicer 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. N/A EXHIBIT P [Reserved]XXXXXX XXX, Inc., as Servicer Date: ________________________________________________________ By: ________________________________________________________ Name: Title: Re: The Servicing Agreement dated as of April 9, 2009 (the “Agreement”), among SLM Student Loan Trust 2009-1, as Issuer, Xxxxxx Mae, Inc., as Servicer, Xxxxxx Xxx, Inc., as Administrator, The Bank of New York Mellon Trust Company, National Association, as Eligible Lender Trustee, and Deutsche Bank Trust Company Americas, as Indenture Trustee I, ________________________________, the _______________________ of Xxxxxx Xxx, Inc. (the “Servicer”), certify to the Administrator, on behalf of the Issuer, and their officers, with the knowledge and intent that they will rely upon this certification, that:

SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by Xxxxxx Mae, Inc., as the referenced party Servicer, shall address, at a minimum, the criteria identified below as (the “Applicable Servicing Criteria” applicable to such party, as such criteria may be updated or limited by the Commission or its staff (including, without limitation, not requiring the delivery of certain of the items set forth on this Exhibit based on interpretive guidance provided by the Commission or its staff relating to Item 1122 of Regulation AB). For the avoidance of doubt, for purposes of this Exhibit O, other than with respect to Item 1122(d)(2)(iii), references to Master Servicer and Special Servicer below shall include any Sub-Servicer engaged by the Master Servicer or Special Servicer, as applicable. ”): 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. Master Servicer Special Servicer Certificate Administrator 1122(d)(1)(iii) Any requirements in the transaction agreements Transaction Documents to maintain a back-up servicer for the mortgage trust student loans are maintained. N/A 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. Master Servicer Special Servicer Custodian (in the case of the Custodian, if such entity is not also the Certificate Administrator) 1122(d)(1)(v) Aggregation of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(i) Payments on mortgage trust student loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. Certificate Administrator 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator (to the extent the Certificate Administrator was required to make an advance during the applicable calendar year) Back-Up Advancing Agent (to the extent the Back-Up Advancing 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreementsTransaction Documents. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreementsTransaction Documents; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements Transaction Documents and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreementsTransaction Documents; (B) provide information calculated in accordance with the terms specified in the transaction agreementsTransaction Documents; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage student loans serviced by the Reporting Servicer. Certificate Administrator Operating Advisor (excluding clauses (C) and (D) in the case of the Operating Advisor) N/A 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreementsTransaction Documents. Certificate Administrator N/A 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the Reporting Servicer’s investor records, or such other number of days specified in the transaction agreementsTransaction Documents. Certificate Administrator N/A 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. Certificate Administrator N/A Pool Asset Administration 1122(d)(4)(i) Collateral or security on mortgage student loans is maintained as required by the transaction agreements Transaction Documents or related mortgage student loan documents. Master Servicer Special Servicer Custodian 1122(d)(4)(ii) Mortgage Student loan and related documents are safeguarded as required by the transaction agreements Custodian Transaction Documents 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreementsTransaction Documents. Master Servicer Special Servicer Certificate Administrator N/A 1122(d)(4)(iv) Payments on mortgage student loans, including any payoffs, made in accordance with the related mortgage student loan documents are posted to the Master Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreementsTransaction Documents, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage student loan documents. Master Servicer 1122(d)(4)(v) The Master Servicer’s records regarding the mortgage student loans agree with the Master Servicer’s records with respect to an obligor’s unpaid principal balance. Master Servicer 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor’s mortgage student loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements Transaction Documents and related pool asset documents. Master Servicer Special Servicer 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreementsTransaction Documents. Special Servicer Operating Advisor 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage student loan is delinquent in accordance with the transaction agreementsTransaction Documents. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreementsTransaction Documents, and describe the entity’s activities in monitoring delinquent mortgage student loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). Master Servicer Special Servicer 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage student loans with variable rates are computed based on the related mortgage student loan documents. Master Servicer 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage student loan documents, on at least an annual basis, or such other period specified in the transaction agreementsTransaction Documents; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage student loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage student loans, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission. Master Servicer 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreementsTransaction Documents. Master Servicer 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreementsTransaction Documents. Master Servicer 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreementsTransaction Documents. N/A EXHIBIT P [Reserved]XXXXXX XXX, Inc., as Servicer Date: By: Name: Title: Re: The Servicing Agreement dated as of April 20, 2006 (the “Agreement”), among SLM Student Loan Trust 2006-4, as Issuer, Xxxxxx Mae, Inc., as Servicer, Xxxxxx Xxx, Inc., as Administrator, Chase Bank USA, National Association, as Eligible Lender Trustee, and Deutsche Bank Trust Company Americas, as Indenture Trustee I, , the of Xxxxxx Xxx, Inc. (the “Servicer”), certify to the Administrator, on behalf of the Issuer, and their officers, with the knowledge and intent that they will rely upon this certification, that: