Special Programs. In consideration of the sale of the Eligible Loans under these Master Sale Terms and each Sale Agreement, Purchaser agrees to cause the Servicer to offer borrowers of Trust Student Loans all special programs whether or not in existence as of the date of any Sale Agreement generally offered to the obligors of comparable loans owned by Xxxxxx Mae subject to the terms and conditions of Section 3.12 of the Servicing Agreement.
Special Programs. In consideration of the sale or substitution of the Eligible Loans under these Master Terms and each Purchase Agreement, Funding agrees to cause the Servicer to offer each Borrower of a Trust Student Loan sold or substituted hereunder all special programs, whether or not in existence as of the date of any related Purchase Agreement, generally offered to the obligors of comparable loans owned by SLM Corporation or any of its Affiliates, at all times subject to the terms and conditions of Section 3.12 of the Servicing Agreement. VG Funding is selling Loans to Funding or substituting Loans without regard to the effect of any special programs. If required, VG Funding shall remit to Funding any amounts necessary to offset any effective yield reductions on related Trust Student Loans as set forth in Section 3.12 of the Servicing Agreement.
Special Programs. In consideration of the sale or substitution of the Eligible Loans under these Master Sale Terms and each Sale Agreement, the Purchaser agrees to cause the Servicer to offer each Borrower of a Trust Student Loan sold or substituted hereunder all special programs, whether or not in existence as of the date of any related Sale Agreement, generally offered to the obligors of comparable loans owned by the Seller, at all times subject to the terms and conditions of Section 3.12 of the Servicing Agreement. The Seller is selling Loans to the Purchaser or substituting Loans without regard to the effect of the special programs. The Seller shall remit to the Purchaser any amounts necessary to offset any effective yield reductions on any related Trust Student Loans as set forth in Section 3.12 of the Servicing Agreement.
Special Programs. 13 Section 3.13
Special Programs. In consideration of the sale or substitution of the Eligible Loans under these Master Terms and each Purchase Agreement, Funding agrees to cause the Servicer to offer each Borrower of a Trust Student Loan sold or substituted hereunder and to keep in effect all special programs, whether or not in existence as of the date of any related Purchase Agreement, generally offered to the obligors of comparable loans owned by SLM Corporation or any of its Affiliates. Funding is purchasing Loans from Town Center Funding, or permitting the substitution of Loans, subject to any special programs. If required, Town Center Funding shall remit to Funding any amounts necessary to offset any effective yield reductions on related Trust Student Loans as set forth in Section 3.12 of the Servicing Agreement.
Special Programs. The Servicer shall offer borrowers of the Trust Student Loans all special programs (e.g., Great RewardsSM, Great ReturnsSM and Direct Repay), whether or not in existence as of the date of this Agreement, generally offered to the obligors of comparable loans owned by the Student Loan Marketing Association and serviced by the Servicer; provided, however, to the extent any such program is not required by the Higher Education Act and effectively reduces borrower interest rate or principal balances on the Trust Student Loans, such special program shall be applied to the Trust Student Loans only if and to the extent the Issuer receives payment from the Student Loan Marketing Association (and the Servicer receives notice of such payment) in an amount sufficient to offset such effective yield reductions. The Student Loan Marketing Association shall be deemed to be a third party beneficiary of this Section 3.12 and shall make appropriate arrangements to compensate the Servicer for increased costs associated with material changes to existing special programs or the implementation and support of any new special programs.
Special Programs. In consideration of the sale or substitution of the Eligible Loans under these Master Terms and each Purchase Agreement, Funding agrees to cause the Servicer to offer each Borrower of a Trust Student Loan sold or substituted hereunder all special programs, whether or not in existence as of the date of any related Purchase Agreement, generally offered to the obligors of comparable loans owned by SLM Corporation or any of its Affiliates, at all times subject to the terms and conditions of Section 3.12 of the Servicing Agreement. SLM ECFC is selling Loans to Funding or substituting Loans without regard to the effect of any special programs. If required, SLM ECFC shall remit to Funding any amounts necessary to offset any effective yield reductions on related Trust Student Loans as set forth in Section 3.12 of the Servicing Agreement.
Special Programs. In consideration of the sale or substitution of the Eligible Loans under these Master Terms and each Purchase Agreement, Funding agrees to cause the Servicer to offer each Borrower of a Trust Student Loan sold or substituted hereunder and to keep in effect all special programs, whether or not in existence as of the date of any related Purchase Agreement, generally offered to the obligors of comparable loans owned by SLM Corporation or any of its Affiliates. Funding is purchasing Loans from SLM ECFC, or permitting the substitution of Loans, subject to any special programs. If required, SLM ECFC shall remit to Funding any amounts necessary to offset any effective yield reductions on related Trust Student Loans as set forth in Section 3.12 of the Servicing Agreement.
Special Programs. Self-contained instructional classrooms for Exceptional Student Education and teachers assigned to any alternative education program or worksite.
Special Programs. The Servicer shall offer borrowers of the Trust Student Loans all special programs (e.g., Great Returnssm and Direct Repaysm), whether or not in existence as of the date of this Agreement, generally offered to the obligors of similar loans owned by SLM Corporation or any of its Affiliates and serviced by the Servicer; provided, however, to the extent any such program is not required by the Higher Education Act and effectively reduces the borrower interest rate or principal balances on the Trust Student Loans, such special program shall be applied to the Trust Student Loans only if and to the extent the Issuer receives payment from the Excess Distribution Certificateholder, the Depositor, the Servicer, the Administrator or any other Affiliate of SLM Corporation (and the Servicer receives notice of such payment) in an amount sufficient to offset such effective yield reductions. Each of the Excess Distribution Certificateholder, the Depositor, the Servicer, the Administrator and any other Affiliate of SLM Corporation shall be deemed to be a third party beneficiary of this Section 3.12 and shall make appropriate arrangements to compensate the Servicer for increased costs associated with material changes to existing special programs or the implementation and support of any new special programs.
