Common use of Volume Incentive Clause in Contracts

Volume Incentive. If, during any calendar year during the term of this Agreement, the total principal amount [**] of Bank of America DTC Loans disbursed hereunder during such year exceeds [**] dollars ($[**]), then the premiums to be paid pursuant to Section 2.04 of this Agreement with respect to “Undergraduate Creditworthy Loans” and “Graduate Creditworthy Loans” shall be increased by [**]%) (the “Additional Volume Premium”). Such increase in premium under Section 2.04 shall take effect with respect to loans made available for sale hereunder during the next calendar year. The increased premium shall terminate at the end of any calendar year in which the total principal amount [**] of Bank of America DTC Loans disbursed hereunder does not exceed [**] dollars ($[**]), but shall be reinstated if the above requirements are met in any subsequent calendar year during the Term of this Agreement. The Additional Volume premium shall not be cumulative. For example, in the event that the total principal amount [**] of Bank of America DTC Loans disbursed hereunder during calendar years 2006 and 2007 exceeds [**] dollars ($[**]), there will be [**]%) increase for Seasoned Loans purchased in calendar year 2007 and 2008 and no additional [**]%) increase for Seasoned Loans purchased in calendar year 2008.

Volume Incentive. If, during any calendar year during the term of this Agreement, the total principal amount [**] of Bank of America DTC Loans disbursed hereunder during such year exceeds [**] dollars ($[**]), then the premiums to be paid pursuant to Section 2.04 of this Agreement with respect to “"Undergraduate Creditworthy Loans” " and “"Graduate Creditworthy Loans” " shall be increased by [**]%) (the “"Additional Volume Premium”"). Such increase in premium under Section 2.04 shall take effect with respect to loans made available for sale hereunder during the next calendar year. The increased premium shall terminate at the end of any calendar year in which the total principal amount [**] of Bank of America DTC Loans disbursed hereunder does not exceed [**] dollars ($[**]), but shall be reinstated if the above requirements are met in any subsequent calendar year during the Term of this Agreement. The Additional Volume premium shall not be cumulative. For example, in the event that the total principal amount [**] of Bank of America DTC Loans disbursed hereunder during calendar years 2006 and 2007 exceeds [**] dollars ($[**]), there will be [**]%) increase for Seasoned Loans purchased in calendar year 2007 and 2008 and no additional [**]%) increase for Seasoned Loans purchased in calendar year 2008.