SLC Student Loan Trust 2007-1 Sample Contracts

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ELIGIBLE LENDER TRUST AGREEMENT between SLC STUDENT LOAN RECEIVABLES I, INC. as Grantor and CITIBANK, N.A. as Eligible Lender Trustee Dated as of June 26, 2007
Eligible Lender Trust Agreement • June 29th, 2007 • SLC Student Loan Trust 2007-1 • Asset-backed securities • New York

THIS ELIGIBLE LENDER TRUST AGREEMENT is made on June 26, 2007, by and between SLC STUDENT LOAN RECEIVABLES I, INC. (the “Grantor”) and CITIBANK, N.A., as eligible lender trustee (the “Eligible Lender Trustee”).

SERVICING AGREEMENT among THE STUDENT LOAN CORPORATION, as Servicer and Administrator, and SLC STUDENT LOAN TRUST 2007-1, as Issuer Dated as of June 26, 2007
Servicing Agreement • June 29th, 2007 • SLC Student Loan Trust 2007-1 • Asset-backed securities • New York

The Student Loan Corporation (“SLC” and, in its capacity as servicer, the “Servicer”), a Delaware corporation, hereby agrees with (i) SLC Student Loan Trust 2007-1 (the “Issuer”), and (ii) SLC, not in its individual capacity but solely in its capacity as administrator (in such capacity, the “Administrator”) under the Administration Agreement, dated as of June 26, 2007 (the “Administration Agreement”), among the Issuer, the Administrator and the Servicer as follows:

SLC STUDENT LOAN TRUST 2007-1 ADMINISTRATION AGREEMENT Dated as of June 26, 2007 Among SLC STUDENT LOAN TRUST 2007-1, as Issuer SLC STUDENT LOAN RECEIVABLES I, INC., as Depositor and THE STUDENT LOAN CORPORATION, as Servicer and Administrator
Administration Agreement • June 29th, 2007 • SLC Student Loan Trust 2007-1 • Asset-backed securities • New York

SLC Student Loan Trust 2007-1 Administration Agreement, dated as of June 26, 2007 (this “Agreement”), among (i) SLC Student Loan Trust 2007-1 (the “Issuer”), (ii) SLC Student Loan Receivables I, Inc. and (iii) The Student Loan Corporation, not in its individual capacity but solely in its capacity as servicer (in such capacity, the “Servicer”) and as administrator (in such capacity, the “Administrator”).

MASTER TERMS PURCHASE AGREEMENT
Master Terms Purchase Agreement • June 29th, 2007 • SLC Student Loan Trust 2007-1 • Asset-backed securities • New York

IN WITNESS WHEREOF, the parties hereto have caused this Bill of Sale to be duly executed by their respective officers hereunto duly authorized, as of the day and year first above written.

UNDERWRITING AGREEMENT
Underwriting Agreement • June 29th, 2007 • SLC Student Loan Trust 2007-1 • Asset-backed securities • New York

This Agreement, the Master Terms Purchase Agreement, to be dated as of June 26, 2007 (along with the related Purchase Agreement, the “SLC Sale Agreement”), among SLC, SLC Student Loan Receivables I, Inc. (“SLC Receivables”) and the Eligible Lender Trustee, the Master Terms Sale Agreement, to be dated as of June 26, 2007 (along with the related Sale Agreement, the “SLC Receivables Sale Agreement” and, collectively with the SLC Sale Agreement, the “Sale Agreements”), among SLC Receivables, the Company and the Eligible Lender Trustee, the Short-Form Trust Agreement, dated as of June 21, 2007, between Wilmington Trust Company, as owner trustee (the “Owner Trustee”), and SLC Receivables, as depositor (in such capacity, the “Depositor”), as amended and restated pursuant to the Amended and Restated Trust Agreement, to be dated as of June 26, 2007 (the “Trust Agreement”), between the Owner Trustee and the Depositor, the Administration Agreement, to be dated as of June 26, 2007 (the “Administra

SUBSERVICING AGREEMENT
Subservicing Agreement • June 29th, 2007 • SLC Student Loan Trust 2007-1 • Asset-backed securities

This SUBSERVICING AGREEMENT (this “Agreement”) is entered into as of June 26, 2007, by and between Citibank (South Dakota), National Association, a national banking association (the “Subservicer”) and The Student Loan Corporation, a Delaware corporation (the “Servicer”).

MASTER TERMS SALE AGREEMENT
Master Terms Sale Agreement • June 29th, 2007 • SLC Student Loan Trust 2007-1 • Asset-backed securities • New York

IN WITNESS WHEREOF, the parties hereto have caused this Bill of Sale to be duly executed by their respective officers hereunto duly authorized, as of the day and year first above written.

CUSTODY AGREEMENT
Custody Agreement • June 29th, 2007 • SLC Student Loan Trust 2007-1 • Asset-backed securities • New York

This CUSTODY AGREEMENT (this “Agreement”), dated as of June 26, 2007 by and among SLC Student Loan Trust 2007-1 (the “Issuer”), Citibank, N.A., as eligible lender trustee on behalf of the Issuer (the “Eligible Lender Trustee”), U.S. Bank National Association, as indenture trustee (the “Indenture Trustee”), The Student Loan Corporation, as servicer (the “Servicer”) and Citibank (South Dakota), National Association, a national banking association (the “Custodian” and, together with the Issuer, the Eligible Lender Trustee, the Indenture Trustee and the Servicer, the “Parties”).

SUB-ADMINISTRATION AGREEMENT
Sub-Administration Agreement • June 29th, 2007 • SLC Student Loan Trust 2007-1 • Asset-backed securities
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