Common use of SPECIAL PROVISIONS RELATING TO MPN LOANS Clause in Contracts

SPECIAL PROVISIONS RELATING TO MPN LOANS. (a) The Seller hereby represents and warrants that the Seller is transferring all of its right title and interest in the MPN Loans to the Purchaser, that it has not assigned any interest in such MPN Loans (other than security interests that have been released or ownership interests that the Seller has reacquired) to any person other than the Purchaser, and that no prior holder of the MPN Loans has assigned any interest in such MPN Loans (other than security interests that have been released or ownership interests that such prior holder has reacquired) to any person other than a predecessor in title to the Seller. The Seller hereby covenants that the Seller shall not attempt to transfer to any other person any interest in any MPN Loan assigned hereunder. (b) The Seller hereby authorizes the Purchaser to file a UCC-1 financing statement identifying the Seller as debtor and the Purchaser as secured party and describing the MPN Loans sold pursuant to this Loan Purchase Agreement. The preparation or filing of such UCC-1 financing statement is solely for additional protection of the Purchaser's interest in the MPN Loans and shall not be deemed to contradict the express intent of the Seller and the Purchaser that the transfer of MPN Loans under this Loan Purchase Agreement is an absolute assignment of such MPN Loans and is not a transfer of such MPN Loans as security for a debt.

SPECIAL PROVISIONS RELATING TO MPN LOANS. (a) The Seller hereby represents and warrants that the Seller is transferring all of its right title and interest in the MPN Loans to the PurchaserCorporation, that it has not assigned any interest in such MPN Loans (other than security interests that have been released or ownership interests that the Seller has reacquired) to any person other than the PurchaserCorporation, and that no prior holder of the MPN Loans has assigned any interest in such MPN Loans (other than security interests that have been released or ownership interests that such prior holder has reacquired) to any person other than a predecessor in title to the Seller. The Seller hereby covenants that the Seller shall not attempt to transfer to any other person any interest in any MPN Loan assigned hereunder. (b) The Seller hereby authorizes the Purchaser Corporation to file a UCC-1 financing statement identifying the Seller as debtor and the Purchaser Corporation as secured party and describing the MPN Loans sold pursuant to this Loan Purchase Agreement. The preparation or filing of such UCC-1 financing statement is solely for additional protection of the PurchaserCorporation's interest in the MPN Loans and shall not be deemed to contradict the express intent of the Seller and the Purchaser Corporation that the transfer of MPN Loans under this Loan Purchase Agreement is an absolute assignment of such MPN Loans and is not a transfer of such MPN Loans as security for a debt.

SPECIAL PROVISIONS RELATING TO MPN LOANS. (a) The Seller hereby represents and warrants that the Seller is transferring all of its right title and interest in the MPN Loans to the Purchaser, that it has not assigned any interest in such MPN Loans (other than security interests that have been released or ownership interests that the Seller has reacquired) to any person other than the Purchaser, and that no prior holder of the MPN Loans has assigned any interest in such MPN Loans (other than security interests that have been released or ownership interests that such prior holder has reacquired) to any person other than a predecessor in title to the Seller. The Seller hereby covenants that the Seller shall not attempt to transfer to any other person any interest in any MPN Loan assigned hereunder. (b) The Seller hereby authorizes the Purchaser to file a UCC-1 financing statement identifying the Seller as debtor and the Purchaser as secured party and describing the MPN Loans sold transferred pursuant to this Loan Purchase Agreement. The preparation or filing of such UCC-1 UCC-l financing statement is solely for additional protection of the Purchaser's interest in the MPN Loans and shall not be deemed to contradict the express intent of the Seller and the Purchaser that the transfer of MPN Loans under this Loan Purchase Agreement is an absolute assignment of such MPN Loans and is not a transfer of such MPN Loans as security for a debt.

SPECIAL PROVISIONS RELATING TO MPN LOANS. (a) The Seller hereby represents and warrants that the Seller is transferring all of its right title and interest in the MPN Loans to the Purchaser in Purchaser's individual capacity and not acting by and through the Purchaser Trustee, that it has not assigned any interest in such MPN Loans (other than security interests that have been released or ownership interests that the Seller has reacquired) to any person other than the Purchaser, and that no prior holder of the MPN Loans has assigned any interest in such MPN Loans (other than security interests that have been released or ownership interests that such prior holder has reacquired) to any person other than a predecessor in title to the Seller. The Seller hereby covenants that the Seller shall not attempt to transfer to any other person any interest in any MPN Loan assigned hereunder. (b) The Seller hereby authorizes the Purchaser to file a UCC-1 financing statement identifying the Seller as debtor and the Purchaser as secured party and describing the MPN Loans sold transferred pursuant to this Loan Purchase Agreement. The preparation or filing of such UCC-1 UCC-l financing statement is solely for additional protection of the Purchaser's interest in the MPN Loans and shall not be deemed to contradict the express intent of the Seller and the Purchaser that the transfer of MPN Loans under this Loan Purchase Agreement is an absolute assignment of such MPN Loans and is not a transfer of such MPN Loans as security for a debt.

SPECIAL PROVISIONS RELATING TO MPN LOANS. (a) The Seller hereby represents and warrants that the Seller is transferring all of its right title and interest in the MPN Loans to the PurchaserCorporation, that it has not assigned any interest in such MPN Loans (other than security interests that have been released or ownership interests that the Seller has reacquired) to any person other than the PurchaserCorporation, and that no prior holder of the MPN Loans has assigned any interest in such MPN Loans (other than security interests that have been released or ownership interests that such prior holder has reacquired) to any person other than a predecessor in title to the Seller. The Seller hereby covenants that the Seller shall not attempt to transfer to any other person any interest in any MPN Loan assigned hereunder. (b) The Seller hereby authorizes the Purchaser Corporation to file a UCC-1 financing statement identifying the Seller as debtor and the Purchaser Corporation as secured party and describing the MPN Loans and other Eligible Loans sold pursuant to this Loan Purchase Agreement. The preparation or filing of such UCC-1 financing statement is solely for additional protection of the PurchaserCorporation's interest in the MPN Loans and other Eligible Loans and shall not be deemed to contradict the express intent of the Seller and the Purchaser Corporation that the transfer of MPN Loans and other Eligible Loans under this Loan Purchase Agreement is an absolute assignment of such MPN Loans and other Eligible Loans and is not a transfer of such MPN Loans and other Eligible Loans as security for a debt.

SPECIAL PROVISIONS RELATING TO MPN LOANS. (a) The Seller hereby represents and warrants that the Seller is transferring all of its right right, title and interest in the MPN Loans to the Purchaser in Purchaser's individual capacity and not acting by and through the Eligible Lender Trustee, that it has not assigned any interest in such MPN Loans (other than security interests that have been released or ownership interests that the Seller has reacquired) to any person other than the Purchaser, and that no prior holder of the MPN Loans has assigned any interest in such MPN Loans (other than security interests that have been released or ownership interests that such prior holder has reacquired) to any person other than a predecessor in title to the Seller. The Seller hereby covenants that the Seller shall not attempt to transfer to any other person any interest in any MPN Loan assigned transferred hereunder. (b) The Seller hereby authorizes the Purchaser to file a UCC-1 financing statement identifying the Seller as debtor and the Purchaser as secured party and describing the MPN Loans sold transferred pursuant to this Loan Purchase Agreement. The preparation or filing of such UCC-1 UCC-l financing statement is solely for additional protection of the Purchaser's interest in the MPN Loans and shall not be deemed to contradict the express intent of the Seller and the Purchaser that the transfer of MPN Loans under this Loan Purchase Agreement is an absolute assignment of such MPN Loans and is not a transfer of such MPN Loans as security for a debt.

SPECIAL PROVISIONS RELATING TO MPN LOANS. (a) The Seller hereby represents and warrants that the Seller is transferring all of its right title and interest in the MPN Loans to the Purchaser, that it has not assigned any interest in such MPN Loans (other than security interests that have been released or ownership interests that the Seller has reacquired) to any person other than the Purchaser, and that no prior holder of the MPN Loans has assigned any interest in such MPN Loans (other than security interests that have been released or ownership interests that such prior holder has reacquired) to any person other than a predecessor in title to the Seller. The Seller hereby covenants that the Seller shall not attempt to transfer to any other person any interest in any MPN Loan assigned hereunder. (b) The Seller hereby authorizes the Purchaser to file a UCC-1 financing statement identifying the Seller as debtor and the Purchaser as secured party and describing the MPN Loans and other FFELP Loans sold pursuant to this Loan Purchase Agreement. The preparation or filing of such UCC-1 financing statement is solely for additional protection of the Purchaser's ’s interest in the MPN Loans and other FFELP Loans and shall not be deemed to contradict the express intent of the Seller and the Purchaser that the transfer of MPN Loans and other FFELP Loans under this Loan Purchase Agreement is an absolute assignment of such MPN Loans and other FFELP Loans and is not a transfer of such MPN Loans and other FFELP Loans as security for a debt.

SPECIAL PROVISIONS RELATING TO MPN LOANS. (a) The Seller hereby represents and warrants that the Seller is transferring all of its right right, title and interest in the MPN Loans to Eligible Lender Trustee acting on behalf of and for the benefit of the Purchaser, that it has not assigned any interest in such MPN Loans (other than security interests that have been released or ownership interests that the Seller has reacquired) to any person other than the Purchaserperson, and that no prior holder of the MPN Loans has assigned any interest in such MPN Loans (other than security interests that have been released or ownership interests that such prior holder has reacquired) to any person other than a predecessor in title to the Seller. The Seller hereby covenants that the Seller shall not attempt to transfer to any other person any interest in any MPN Loan assigned transferred hereunder. (b) The Seller hereby authorizes the Purchaser to file a UCC-1 financing statement identifying the Seller as debtor and the Purchaser as secured party and describing the MPN Loans sold transferred pursuant to this Loan Purchase Agreement. The preparation or filing of such UCC-1 UCC-l financing statement is solely for additional protection of the Purchaser's interest in the MPN Loans and shall not be deemed to contradict the express intent of the Seller and the Purchaser that the transfer of MPN Loans under this Loan Purchase Agreement is an absolute assignment of such MPN Loans and is not a transfer of such MPN Loans as security for a debt.