Common use of Use of Trustee Eligible Lender Number Clause in Contracts

Use of Trustee Eligible Lender Number. The Trustee covenants and agrees not to hold any other FFELP Loans under the federal eligible lender number under which it holds any Financed FFELP Loans without (1) the express written consent of the Corporation and SLFC, and (2) having caused the beneficial owner of any such student loans (and any other appropriate Persons) to have entered into an agreement with the Corporation and the Trustee, whereby the Corporation and such other beneficial owner covenant to indemnify each other in respect of federal interest subsidies, Special Allowance Payments, Guarantee payments or any other payments by a Guarantee Agency (a) received by the Trustee on their behalf, (b) later determined by the Secretary of Education or a Guarantee Agency to have been incorrectly or inappropriately paid to the Trustee, and (c) for which the Secretary of Education or a Guarantee Agency reimburses itself, in whole or in part, by withholding payments to the Trustee, or otherwise seeks reimbursement from the Trustee, with respect to student loans held by the Trustee on behalf of the other party.

Use of Trustee Eligible Lender Number. The Trustee covenants and agrees not to hold any other FFELP Eligible Loans under the federal eligible lender number under which it holds any Financed FFELP Eligible Loans without (1) the express written consent of the Corporation and SLFC, and (2) having caused the beneficial owner of any such student loans (and any other appropriate Persons) to have entered into an agreement with the Corporation and the Trustee, whereby the Corporation and such other beneficial owner covenant to indemnify each other in respect of federal interest subsidies, Special Allowance Payments, Guarantee payments or any other payments by a Guarantee Agency (a) received by the Trustee on their behalf, (b) later determined by the Secretary of Education or a Guarantee Agency to have been incorrectly or inappropriately paid to the Trustee, and (c) for which the Secretary of Education or a Guarantee Agency reimburses itself, in whole or in part, by withholding payments to the Trustee, or otherwise seeks reimbursement from the Trustee, with respect to student loans held by the Trustee on behalf of the other party.

Use of Trustee Eligible Lender Number. The Trustee ------------------------------------- covenants and agrees not to hold any other FFELP Loans student loans under the federal eligible lender number under which it holds any Financed FFELP Student Loans without (1) the express written consent of the Corporation and SLFC, and (2) having caused the beneficial owner of any such student loans (and any other appropriate Persons) to have entered into an agreement with the Corporation and the Trustee, whereby the Corporation and such other beneficial owner covenant to indemnify each other in respect of federal interest subsidies, Special Allowance Payments, Insurance payments, Guarantee payments or any other payments by the Secretary of Education or a Guarantee Agency (a) received by the Trustee on their behalf, (b) later determined by the Secretary of Education or a Guarantee Agency to have been incorrectly or inappropriately paid to the Trustee, and (c) for which the Secretary of Education or a Guarantee Agency reimburses itself, in whole or in part, by withholding payments to the Trustee, or otherwise seeks reimbursement from the Trustee, Trustee with respect to student loans held by the Trustee on behalf of the other party.. ARTICLE SIX

Use of Trustee Eligible Lender Number. The Trustee covenants and agrees not to hold any other FFELP Loans student loans under the federal eligible lender number under which it holds any Financed FFELP Student Loans without (1) the express written consent of the Corporation and SLFC, and (2) having caused the beneficial owner of any such student loans (and any other appropriate Persons) to have entered into an agreement with the Corporation and the Trustee, whereby the Corporation and such other beneficial owner covenant to indemnify each other in respect of federal interest subsidies, Special Allowance Payments, Insurance payments, Guarantee payments or any other payments by the Secretary of Education or a Guarantee Agency (a) received by the Trustee on their behalf, (b) later determined by the Secretary of Education or a Guarantee Agency to have been incorrectly or inappropriately paid to the Trustee, and (c) for which the Secretary of Education or a Guarantee Agency reimburses itself, in whole or in part, by withholding payments to the Trustee, or otherwise seeks reimbursement from the Trustee, with respect to student loans held by the Trustee on behalf of the other party.. ARTICLE SIX