Common use of TERMS, CONDITIONS AND COVENANTS Clause in Contracts

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18, 2011 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Funding, the Bluemont Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Initial Purchase Agreement (SLM Student Loan Trust 2011-3)

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TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18, 2011 1000 (the “Master Terms”), ) and any amendments thereto permitted by its termsthereto, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price for the Initial Loans shall be $[ ]342,642,472.04. This document shall constitute an Additional the Initial Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans, Eligible Loans, Initial Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Initial Purchase Agreement. Bluemont Town Hall Funding hereby makes all the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Initial Loans described in the related Additional Initial Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Closing Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding, Town Hall Funding authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Initial Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional the Initial Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor Guarantors of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser Funding of the Initial Loans purchased pursuant hereto on the Purchase Closing Date. Bluemont Funding Purchase Agreement 1 (TOWN HALL FUNDING) The parties hereto intend that the transfer of Additional Purchased Loans described in the related Additional Initial Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding to Funding and the Interim Eligible Lender Trustee for the benefit of FundingLoans. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Purchased Loans described in the related Additional Initial Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.. Purchase Agreement (TOWN HALL FUNDING)

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2008-6)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18July 19, 2011 2012 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Funding, the Bluemont Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2012-5)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18August 5, 2011 2008 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Hall Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 (TOWN HALL FUNDING) The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Fundingthe Purchaser. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2008-8)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 1814, 2011 2013 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont VL Funding, the Bluemont VL Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont VL Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2013-6)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18September 19, 2011 2013 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Hall Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2013-5)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18April 15, 2011 2010 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Center Funding, the Bluemont Town Center Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Center Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Fundingthe Purchaser. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Initial Purchase Agreement (SLM Student Loan Trust 2010-1)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18April 21, 2011 2009 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Center Funding, the Bluemont Town Center Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ _____ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Center Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 Town Center Funding The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Fundingthe Purchaser. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Initial Purchase Agreement (SLM Student Loan Trust 2009-2)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18January 28, 2011 2014 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont VL Funding, the Bluemont VL Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont VL Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2014-1)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18April 21, 2011 2009 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Hall Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Fundingthe Purchaser. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Purchase Agreement (SLM Student Loan Trust 2009-2)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18January 19, 2011 2012 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont VL Funding, the Bluemont VL Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont VL Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont VL Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2012-1)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18September 19, 2011 2013 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Center Funding, the Bluemont Town Center Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Center Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2013-5)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18, 2011 1000 (the “Master Terms”), ) and any amendments thereto permitted by its termsthereto, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price for the Initial Loans shall be $[ ]514,074,600.72. This document shall constitute an Additional the Initial Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans, Eligible Loans, Initial Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Initial Purchase Agreement. Bluemont Town Hall Funding hereby makes all the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Initial Loans described in the related Additional Initial Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Closing Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding, Town Hall Funding authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Initial Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional the Initial Xxxx of Sale (in lieu of OE Form 1074), as official notification to the Purchase Agreement (TOWN HALL FUNDING) 1 applicable Guarantor Guarantors of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser Funding of the Initial Loans purchased pursuant hereto on the Purchase Closing Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Purchased Loans described in the related Additional Initial Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding to Funding and the Interim Eligible Lender Trustee for the benefit of FundingLoans. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Purchased Loans described in the related Additional Initial Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.. Purchase Agreement (TOWN HALL FUNDING) 2

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2008-7)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18June 12, 2011 2008 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Center Funding, the Bluemont Town Center Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Center Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), Purchase Agreement (TOWN CENTER FUNDING) as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Fundingthe Purchaser. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2008-6)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18April 15, 2011 2010 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Hall Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Fundingthe Purchaser. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Initial Purchase Agreement (SLM Student Loan Trust 2010-1)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18, 2011 1000 (the “Master Terms”), ) and any amendments thereto permitted by its termsthereto, incorporated herein by reference, among Bluemont Town Center Funding, the Bluemont Town Center Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price for the Initial Loans shall be $[ ]342,647,025.12. This document shall constitute an Additional the Initial Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans, Eligible Loans, Initial Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Initial Purchase Agreement. Bluemont Town Center Funding hereby makes all the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Initial Loans described in the related Additional Initial Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Closing Date. Each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Funding, Town Center Funding authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Initial Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional the Initial Xxxx of Sale (in lieu of OE Form 1074), as official Purchase Agreement (TOWN CENTER FUNDING) notification to the applicable Guarantor Guarantors of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser Funding of the Initial Loans purchased pursuant hereto on the Purchase Closing Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Purchased Loans described in the related Additional Initial Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding to Funding and the Interim Eligible Lender Trustee for the benefit of FundingLoans. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Purchased Loans described in the related Additional Initial Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.. Purchase Agreement (TOWN CENTER FUNDING)

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2008-6)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18May 3, 2011 2012 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont VL Funding, the Bluemont VL Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont VL Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2012-3)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18June 20, 2011 2013 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont VL Funding, the Bluemont VL Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont VL Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2013-3)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18January 19, 2011 2012 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Hall Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Town Hall Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Initial Purchase Agreement (SLM Student Loan Trust 2012-1)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18July 19, 2011 2012 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Hall Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2012-5)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18May 26, 2011 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Hall Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Fundingthe Purchaser. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2011-2)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18March 27, 2011 2014 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont VL Funding, the Bluemont VL Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont VL Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2014-2)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont SLM National Funding and the Bluemont SLM National Funding Eligible Lender Trustee for the benefit of Bluemont SLM National Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont SLM National Funding and the Bluemont SLM National Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 1814, 2011 2013 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont SLM National Funding, the Bluemont SLM National Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont SLM National Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont SLM National Funding and the Bluemont SLM National Funding Eligible Lender Trustee for the benefit of Bluemont SLM National Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont SLM National Funding and the Bluemont SLM National Funding Eligible Lender Trustee for the benefit of Bluemont SLM National Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont SLM National Funding and the Bluemont SLM National Funding Eligible Lender Trustee for the benefit of Bluemont SLM National Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2013-6)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18May 3, 2011 2012 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Center Funding, the Bluemont Town Center Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Center Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx Bxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx Bxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx Bxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx Bxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx Bxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2012-3)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont SLM National Funding and the Bluemont SLM National Funding Eligible Lender Trustee for the benefit of Bluemont SLM National Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont SLM National Funding and the Bluemont SLM National Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18September 19, 2011 2013 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont SLM National Funding, the Bluemont SLM National Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont SLM National Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont SLM National Funding and the Bluemont SLM National Funding Eligible Lender Trustee for the benefit of Bluemont SLM National Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont SLM National Funding and the Bluemont SLM National Funding Eligible Lender Trustee for the benefit of Bluemont SLM National Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont SLM National Funding and the Bluemont SLM National Funding Eligible Lender Trustee for the benefit of Bluemont SLM National Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2013-5)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18July 2, 2011 2008 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Hall Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official Purchase Agreement (TOWN HALL FUNDING) 5 notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Fundingthe Purchaser. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2008-7)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18, 2011 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont VL Funding, the Bluemont VL Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont VL Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont VL Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Initial Purchase Agreement (SLM Student Loan Trust 2011-3)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18May 3, 2011 2012 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Hall Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2012-3)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18, 2011 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Center Funding, the Bluemont Town Center Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Center Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Town Center Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2011-3)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18August 15, 2011 2013 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Funding, the Bluemont Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2013-4)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Red Wolf Funding and the Bluemont Red Wolf Funding Eligible Lender Trustee for the benefit of Bluemont Red Wolf Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Red Wolf Funding and the Bluemont Red Wolf Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18April 23, 2011 2015 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Red Wolf Funding, the Bluemont Red Wolf Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Red Wolf Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Red Wolf Funding and the Bluemont Red Wolf Funding Eligible Lender Trustee for the benefit of Bluemont Red Wolf Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Red Wolf Funding and the Bluemont Red Wolf Funding Eligible Lender Trustee for the benefit of Bluemont Red Wolf Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Red Wolf Funding and the Bluemont Red Wolf Funding Eligible Lender Trustee for the benefit of Bluemont Red Wolf Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (Navient Student Loan Trust 2015-2)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18March 15, 2011 2012 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Hall Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2012-2)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18February 26, 2011 2015 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont VL Funding, the Bluemont VL Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont VL Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (Navient Student Loan Trust 2015-1)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18June 12, 2011 2008 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Hall Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 (TOWN HALL FUNDING) The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Fundingthe Purchaser. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2008-6)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18March 3, 2011 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Center Funding, the Bluemont Town Center Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Center Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Fundingthe Purchaser. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2011-1)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 188, 2011 2012 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Center Funding, the Bluemont Town Center Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Center Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2012-7)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18May 3, 2011 2012 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Funding, the Bluemont Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2012-3)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18May 29, 2011 2014 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont VL Funding, the Bluemont VL Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont VL Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (Navient Student Loan Trust 2014-1)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18, 2011 1000 (the “Master Terms”), ) and any amendments thereto permitted by its termsthereto, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price for the Initial Loans shall be $[ ]961,156,409.30. This document shall constitute an Additional the Initial Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans, Eligible Loans, Initial Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Initial Purchase Agreement. Bluemont Town Hall Funding hereby makes all the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Initial Loans described in the related Additional Initial Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Closing Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding, Town Hall Funding authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Initial Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional the Initial Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor Guarantors of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser Funding of the Initial Loans purchased pursuant hereto on the Purchase Closing Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Purchased Loans described in the related Additional Initial Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding to Funding and the Interim Eligible Lender Trustee for the benefit of FundingLoans. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Purchased Loans described in the related Additional Initial Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Purchase Agreement (SLM Student Loan Trust 2009-2)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont SLM National Funding and the Bluemont SLM National Funding Eligible Lender Trustee for the benefit of Bluemont SLM National Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont SLM National Funding and the Bluemont SLM National Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18August 15, 2011 2013 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont SLM National Funding, the Bluemont SLM National Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont SLM National Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont SLM National Funding and the Bluemont SLM National Funding Eligible Lender Trustee for the benefit of Bluemont SLM National Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont SLM National Funding and the Bluemont SLM National Funding Eligible Lender Trustee for the benefit of Bluemont SLM National Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont SLM National Funding and the Bluemont SLM National Funding Eligible Lender Trustee for the benefit of Bluemont SLM National Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2013-4)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18May 26, 2011 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Center Funding, the Bluemont Town Center Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Center Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Fundingthe Purchaser. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2011-2)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18July 19, 2011 2012 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Center Funding, the Bluemont Town Center Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Center Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2012-5)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18September 20, 2011 2012 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont VL Funding, the Bluemont VL Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont VL Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2012-6)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18August 26, 2011 2010 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Center Funding, the Bluemont Town Center Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Center Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Fundingthe Purchaser. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2010-2)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18March 15, 2011 2012 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Center Funding, the Bluemont Town Center Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Center Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2012-2)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18August 28, 2011 2008 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Hall Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Fundingthe Purchaser. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2008-9)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18April 30, 2011 2008 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Hall Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 (TOWN HALL FUNDING) The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Fundingthe Purchaser. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2008-5)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18January 19, 2011 2012 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Funding, the Bluemont Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Initial Purchase Agreement (SLM Student Loan Trust 2012-1)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18February 14, 2011 2013 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Hall Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2013-1)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18April 17, 2011 2008 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Hall Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 (TOWN HALL FUNDING) The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Fundingthe Purchaser. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2008-4)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 188, 2011 2012 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Funding, the Bluemont Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2012-7)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November June 18, 2011 2015 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont VL Funding, the Bluemont VL Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont VL Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (Navient Student Loan Trust 2015-3)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18June 20, 2011 2013 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Center Funding, the Bluemont Town Center Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Center Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2013-3)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18, 2011 1000 (the “Master Terms”), ) and any amendments thereto permitted by its termsthereto, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans sum of the Purchase Price for the Initial Loans and the amount, if any, to be deposited into the Supplemental Purchase Account after the Closing Date shall be $[ ]499,429,282.03. This document shall constitute an Additional the Initial Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans, Eligible Loans, Initial Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Initial Purchase Agreement. Bluemont Town Hall Funding hereby makes all the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Initial Loans described in the related Additional Initial Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Closing Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding, Town Hall Funding authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Initial Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional the Initial Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor Guarantors of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser Funding of the Initial Loans purchased pursuant hereto on the Purchase Closing Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Purchased Loans described in the related Additional Initial Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding to Funding and the Interim Eligible Lender Trustee for the benefit of FundingLoans. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Purchased Loans described in the related Additional Initial Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Initial Purchase Agreement (SLM Student Loan Trust 2010-1)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18, 2011 1000 (the “Master Terms”), ) and any amendments thereto permitted by its termsthereto, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price for the Initial Loans shall be $[ ]3,781,660.94. This document shall constitute an Additional the Initial Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans, Eligible Loans, Initial Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Initial Purchase Agreement. Bluemont Town Hall Funding hereby makes all the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Initial Loans described in the related Additional Initial Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Closing Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding, Town Hall Funding authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Initial Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional the Initial Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor Guarantors of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser Funding of the Initial Loans purchased pursuant hereto on the Purchase Closing Date. Bluemont Funding Purchase Agreement 1 (TOWN HALL FUNDING) The parties hereto intend that the transfer of Additional Purchased Loans described in the related Additional Initial Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding to Funding and the Interim Eligible Lender Trustee for the benefit of FundingLoans. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Purchased Loans described in the related Additional Initial Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.. Purchase Agreement (TOWN HALL FUNDING)

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2008-8)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18April 17, 2011 2008 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Center Funding, the Bluemont Town Center Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Center Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), Purchase Agreement (TOWN CENTER FUNDING) as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Fundingthe Purchaser. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2008-4)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18April 30, 2011 2008 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Center Funding, the Bluemont Town Center Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Center Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), Purchase Agreement (TOWN CENTER FUNDING) as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Fundingthe Purchaser. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2008-5)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18January 19, 2011 2012 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Center Funding, the Bluemont Town Center Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Center Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Town Center Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2012-1)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18, 2011 1000 (the “Master Terms”), ) and any amendments thereto permitted by its termsthereto, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Initial Payment for the Initial Loans Purchase Price shall be $[ ]205,120,128.86, which amount shall be subject to adjustment following receipt of the initial servicing reports from the Subservicers. This document shall constitute an Additional the Initial Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans, Eligible Loans, Initial Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Initial Purchase Agreement. Bluemont Town Hall Funding hereby makes all the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Initial Loans described in the related Additional Initial Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Closing Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding, Town Hall Funding authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Initial Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional the Initial Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor Guarantors of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser Funding of the Initial Loans purchased pursuant hereto on the Purchase Closing Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Purchased Loans described in the related Additional Initial Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding to Funding and the Interim Eligible Lender Trustee for the benefit of FundingLoans. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Purchased Loans described in the related Additional Initial Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2010-2)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18April 11, 2011 2013 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Funding, the Bluemont Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2013-2)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18August 5, 2011 2008 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Center Funding, the Bluemont Town Center Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Center Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), Purchase Agreement (TOWN CENTER FUNDING) as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Fundingthe Purchaser. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2008-8)

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TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18April 9, 2011 2009 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Hall Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Fundingthe Purchaser. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2009-1)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18June 20, 2011 2013 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Funding, the Bluemont Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2013-3)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18March 3, 2011 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Hall Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Fundingthe Purchaser. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2011-1)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18, 2011 1000 (the “Master Terms”), ) and any amendments thereto permitted by its termsthereto, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price for the Initial Loans shall be $[ ]1,472,617,969.41. This document shall constitute an Additional the Initial Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans, Eligible Loans, Initial Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Initial Purchase Agreement. Bluemont Town Hall Funding hereby makes all the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Initial Loans described in the related Additional Initial Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Closing Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding, Town Hall Funding authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Initial Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional the Initial Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor Guarantors of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser Funding of the Initial Loans purchased pursuant hereto on the Purchase Closing Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Purchased Loans described in the related Additional Initial Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding to Funding and the Interim Eligible Lender Trustee for the benefit of FundingLoans. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Purchased Loans described in the related Additional Initial Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2008-9)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18April 9, 2011 2009 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Center Funding, the Bluemont Town Center Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Center Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Fundingthe Purchaser. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Initial Purchase Agreement (SLM Student Loan Trust 2009-1)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 188, 2011 2012 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont VL Funding, the Bluemont VL Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont VL Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2012-7)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 1825, 2011 2014 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont VL Funding, the Bluemont VL Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont VL Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (Navient Student Loan Trust 2014-8)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont SLM National Funding and the Bluemont SLM National Funding Eligible Lender Trustee for the benefit of Bluemont SLM National Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont SLM National Funding and the Bluemont SLM National Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18March 27, 2011 2014 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont SLM National Funding, the Bluemont SLM National Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont SLM National Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont SLM National Funding and the Bluemont SLM National Funding Eligible Lender Trustee for the benefit of Bluemont SLM National Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont SLM National Funding and the Bluemont SLM National Funding Eligible Lender Trustee for the benefit of Bluemont SLM National Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont SLM National Funding and the Bluemont SLM National Funding Eligible Lender Trustee for the benefit of Bluemont SLM National Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2014-2)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18April 23, 2011 2015 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont VL Funding, the Bluemont VL Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont VL Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (Navient Student Loan Trust 2015-2)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18March 15, 2011 2012 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Funding, the Bluemont Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx Bxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx Bxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx Bxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx Bxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx Bxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2012-2)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18September 20, 2011 2012 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Center Funding, the Bluemont Town Center Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Center Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2012-6)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18, 2011 1000 (the “Master Terms”), ) and any amendments thereto permitted by its termsthereto, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price for the Initial Loans shall be $[ ]1,417,838,494.38. This document shall constitute an Additional the Initial Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans, Eligible Loans, Initial Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Initial Purchase Agreement. Bluemont Town Hall Funding hereby makes all the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Initial Loans described in the related Additional Initial Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Closing Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding, Town Hall Funding authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Initial Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional the Initial Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor Guarantors of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser Funding of the Initial Loans purchased pursuant hereto on the Purchase Closing Date. Bluemont Funding Purchase Agreement 1 (TOWN HALL FUNDING) The parties hereto intend that the transfer of Additional Purchased Loans described in the related Additional Initial Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding to Funding and the Interim Eligible Lender Trustee for the benefit of FundingLoans. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Purchased Loans described in the related Additional Initial Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.. Purchase Agreement (TOWN HALL FUNDING)

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2008-5)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18August 15, 2011 2013 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Hall Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2013-4)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 1814, 2011 2013 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Center Funding, the Bluemont Town Center Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Center Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2013-6)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 1814, 2011 2013 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Funding, the Bluemont Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2013-6)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Red Wolf Funding and the Bluemont Red Wolf Funding Eligible Lender Trustee for the benefit of Bluemont Red Wolf Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Red Wolf Funding and the Bluemont Red Wolf Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18February 26, 2011 2015 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Red Wolf Funding, the Bluemont Red Wolf Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Red Wolf Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Red Wolf Funding and the Bluemont Red Wolf Funding Eligible Lender Trustee for the benefit of Bluemont Red Wolf Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Red Wolf Funding and the Bluemont Red Wolf Funding Eligible Lender Trustee for the benefit of Bluemont Red Wolf Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Red Wolf Funding and the Bluemont Red Wolf Funding Eligible Lender Trustee for the benefit of Bluemont Red Wolf Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (Navient Student Loan Trust 2015-1)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18April 11, 2011 2013 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Center Funding, the Bluemont Town Center Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Center Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2013-2)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Red Wolf Funding and the Bluemont Red Wolf Funding Eligible Lender Trustee for the benefit of Bluemont Red Wolf Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Red Wolf Funding and the Bluemont Red Wolf Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November June 18, 2011 2015 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Red Wolf Funding, the Bluemont Red Wolf Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Red Wolf Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Red Wolf Funding and the Bluemont Red Wolf Funding Eligible Lender Trustee for the benefit of Bluemont Red Wolf Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Red Wolf Funding and the Bluemont Red Wolf Funding Eligible Lender Trustee for the benefit of Bluemont Red Wolf Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Red Wolf Funding and the Bluemont Red Wolf Funding Eligible Lender Trustee for the benefit of Bluemont Red Wolf Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (Navient Student Loan Trust 2015-3)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18July 19, 2011 2012 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont VL Funding, the Bluemont VL Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont VL Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2012-5)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18September 20, 2011 2012 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Hall Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2012-6)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18February 14, 2011 2013 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Center Funding, the Bluemont Town Center Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Center Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2013-1)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18July 2, 2011 2008 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Center Funding, the Bluemont Town Center Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Center Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), Purchase Agreement (TOWN CENTER FUNDING) 5 as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Fundingthe Purchaser. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2008-7)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18April 11, 2011 2013 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Hall Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2013-2)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18September 20, 2011 2012 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Funding, the Bluemont Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2012-6)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18June 20, 2011 2013 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Hall Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2013-3)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18, 2011 1000 (the “Master Terms”), ) and any amendments thereto permitted by its termsthereto, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price for the Initial Loans shall be $[ ]0. This document shall constitute an Additional the Initial Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans, Eligible Loans, Initial Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Initial Purchase Agreement. Bluemont Town Hall Funding hereby makes all the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Initial Loans described in the related Additional Initial Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Closing Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding, Town Hall Funding authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Initial Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional the Initial Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor Guarantors of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser Funding of the Initial Loans purchased pursuant hereto on the Purchase Closing Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Purchased Loans described in the related Additional Initial Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding to Funding and the Interim Eligible Lender Trustee for the benefit of FundingLoans. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Purchased Loans described in the related Additional Initial Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2009-1)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18September 19, 2011 2013 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Funding, the Bluemont Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2013-5)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18April 11, 2011 2013 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont VL Funding, the Bluemont VL Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont VL Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2013-2)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18August 15, 2011 2013 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Center Funding, the Bluemont Town Center Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Center Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Center Funding and the Bluemont Town Center Funding Eligible Lender Trustee for the benefit of Bluemont Town Center Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2013-4)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 188, 2011 2012 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Hall Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2012-7)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18February 14, 2011 2013 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Funding, the Bluemont Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx Bxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx Bxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx Bxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx Bxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx Bxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2013-1)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18March 15, 2011 2012 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont VL Funding, the Bluemont VL Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont VL Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2012-2)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18February 14, 2011 2013 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont VL Funding, the Bluemont VL Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont VL Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2013-1)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18August 15, 2011 2013 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont VL Funding, the Bluemont VL Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont VL Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2013-4)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18September 19, 2011 2013 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont VL Funding, the Bluemont VL Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont VL Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont VL Funding and the Bluemont VL Funding Eligible Lender Trustee for the benefit of Bluemont VL Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2013-5)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18August 26, 2011 2010 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Hall Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Fundingthe Purchaser. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding the Purchaser a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2010-2)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 1814, 2011 2013 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Hall Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2013-6)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18, 2011 (the “Master Terms”), and any amendments thereto permitted by its terms, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price shall be $[ ]. This document shall constitute an Additional Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Purchase Agreement. Bluemont Town Hall Funding hereby makes the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Loans described in the related Additional Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding, authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser of the Loans purchased pursuant hereto on the Purchase Date. Bluemont Town Hall Funding Purchase Agreement 1 The parties hereto intend that the transfer of Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding to Funding and the Interim Eligible Lender Trustee for the benefit of Funding. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Town Hall Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Loans described in the related Additional Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2011-3)

TERMS, CONDITIONS AND COVENANTS. In consideration of the Additional Loans Purchase Price, each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding, hereby sells to each of Funding and the Interim Eligible Lender Trustee for the benefit of Funding the entire right, title and interest of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee in the Loans accepted for purchase, subject to all the terms and conditions of the Purchase Agreement Master Securitization Terms Number 1000, dated November 18, 2011 1000 (the “Master Terms”), ) and any amendments thereto permitted by its termsthereto, incorporated herein by reference, among Bluemont Town Hall Funding, the Bluemont Town Hall Funding Eligible Lender Trustee, Funding, the Servicer and the Interim Eligible Lender Trustee. The applicable Additional Loans Purchase Price for the Initial Loans shall be $[ ]327,800,599.23. This document shall constitute an Additional the Initial Purchase Agreement as referred to in the Master Terms and, except as modified herein, each term used herein shall have the same meaning as in the Master Terms. All references in the Master Terms to Loans, Eligible Loans, Initial Loans or Additional Loans or to Purchased Loans, as applicable, shall be deemed to refer to the Additional Loans governed by this Additional Initial Purchase Agreement. Bluemont Town Hall Funding hereby makes all the representations and warranties set forth in Sections 5(A) and (B) of the Master Terms regarding the Additional Initial Loans described in the related Additional Initial Xxxx of Sale and the related Loan Transmittal Summary Form, as of the related Purchase Closing Date. Each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding, Town Hall Funding authorizes the Interim Eligible Lender Trustee for the benefit of Funding to use a copy of the related Additional Initial Xxxx of Sale, including the Loan Transmittal Summary Form attached to such Additional the Initial Xxxx of Sale (in lieu of OE Form 1074), as official notification to the applicable Guarantor Guarantors of assignment to the Interim Eligible Lender Trustee on behalf of the Purchaser Funding of the Initial Loans purchased pursuant hereto on the Purchase Closing Date. Bluemont Funding Purchase Agreement 1 (TOWN HALL FUNDING) The parties hereto intend that the transfer of Additional Purchased Loans described in the related Additional Initial Xxxx of Sale and related Loan Transmittal Summary Form be, and be construed as, a valid sale of such Purchased Loans from Bluemont Funding and the Bluemont Funding Eligible Lender Trustee for the benefit of Bluemont Funding to Funding and the Interim Eligible Lender Trustee for the benefit of FundingLoans. However, in the event that notwithstanding the intention of the parties, such transfer is deemed to be a transfer for security, then each of Bluemont Town Hall Funding and the Bluemont Town Hall Funding Eligible Lender Trustee for the benefit of Bluemont Funding hereby grants to Funding and the Interim Eligible Lender Trustee for the benefit of Funding a first priority security interest in and to all Additional Purchased Loans described in the related Additional Initial Xxxx of Sale and related Loan Transmittal Summary Form to secure a loan in an amount equal to the Purchase Price of such Purchased Loans.. Purchase Agreement (TOWN HALL FUNDING)

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Student Loan Trust 2008-4)

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