EXHIBIT 4.2
HARTWICK SUBSEQUENT TRANSFER INSTRUMENT
Pursuant to this Hartwick Subsequent Transfer Instrument (the
"Instrument"), dated January 7, 1997, between The National Collegiate Trust
1996-S2, as issuer (the "Issuer"), and State Street Bank and Trust Company, as
Indenture Trustee (the "Indenture Trustee"), and pursuant to the Indenture,
dated as of November 1, 1996, between the Issuer and the Indenture Trustee (the
"Indenture"), the Issuer hereby agrees to the pledge to the Indenture Trustee,
and the Indenture Trustee hereby acknowledges the pledge by the Issuer, of the
Hartwick Student Loans listed on the attached of Hartwick Subsequent Loan
Schedule (the "Hartwick Subsequent Loans").
Capitalized terms used and not defined herein have their
respective meanings as set forth in the Indenture.
Section 1. CONVEYANCE OF SUBSEQUENT LOANS.
The Issuer hereby grants to the Indenture Trustee, without
recourse, in trust and as collateral security, for the exclusive benefit of the
Holders of the Bonds (and the Indenture Trustee, to the extent provided in the
Indenture) a security interest in and to the Hartwick Subsequent Loans, and all
payments made thereon, together with the related Loan Documents. The Issuer,
contemporaneously with the delivery of this Instrument, has delivered or caused
to be delivered to the Indenture Trustee, each item set forth in Section
4.07(c)(i) of the Indenture.
Section 2. CONDITIONS PRECEDENT.
The Issuer hereby confirms that each of the conditions set
forth in Section 4.07(c)(i) of the Indenture are satisfied as of the date
hereof.
Section 3. GOVERNING LAW.
This Instrument shall be construed in accordance with the laws
of the State of New York and the obligations, rights and remedies of the parties
hereunder shall be determined in accordance with such laws, without giving
effect to principles of conflicts of law.
Section 4. COUNTERPARTS.
This Instrument may be executed in one or more counterparts
and by the different parties hereto on separate counterparts, each of which,
when so executed, shall be deemed to be an original; such counterparts,
together, shall constitute one and the same instrument.
Section 5. SUCCESSORS AND ASSIGNS.
This Instrument shall inure to the benefit of and be binding
upon the Issuer and the Indenture Trustee and their respective successors and
assigns.
THE NATIONAL COLLEGIATE TRUST
1996-S2, as Issuer
By: Delaware Trust Capital
Management, Inc., not in its
individual capacity but solely as
Owner Trustee
By: /s/ Xxxxxxx X. Xxxxx
---------------------------------
Name: Xxxxxxx X. Xxxxx
Title: Vice President
ACKNOWLEDGED BY:
STATE STREET BANK AND TRUST COMPANY,
as Indenture Trustee
By: /s/Xxxxx X. Xxxxxx
------------------------------
Name: Xxxxx X. Xxxxxx
Title: Assistant Vice President
ATTACHMENTS
X. Xxxxxxxx Subsequent Loan Schedule
II. Officer's Certificate
2
ATTACHMENT I
HARTWICK SUBSEQUENT LOAN SCHEDULE
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Xxxxxxxx College GATE LOAN DISBURSEMENT ROSTER
NOTE DATE: 11/05/1996 NATIONAL COLLEGIATE TRUST
Xxxxxxx, XX 00000 INTEREST RATE: 9.25 7 TUCKERS WHARF
Xxxxx Xxxxxx DISBURSEMENT DATE: 12/23/1996 XXXXXXXXXX, XX 00000
SCHOOL CODE: 002729 MULTIPLIER: .5325
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NOTE LOAN DISBURSEMENT
LAST NAME FIRST NAME MI EGD DATE AMOUNT AMT COSIGNER
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05/31/1998 11/5/96 $ 8,695.00 $ 4,630.09
05/31/1999 11/5/96 $ 1,500.00 $ 798.75
05/31/1999 11/5/96 $ 5,600.00 $ 2,982.00
05/31/1999 11/5/96 $ 8,000.00 $ 4,260.00
05/31/1999 11/5/96 $ 6,044.00 $ 3,218.43
05/31/1999 11/5/96 $ 4,000.00 $ 2,130.00
05/31/1999 11/5/96 $ 3,150.00 $ 1,677.37
05/31/1998 11/5/96 $ 8,900.00 $ 4,739.25
05/31/1997 11/5/96 $15,000.00 $ 7,987.50
05/31/1999 11/5/96 $ 2,500.00 $ 1,331.25
05/31/1997 11/5/96 $12,800.00 $ 6,816.00
05/31/1999 11/5/96 $ 3,800.00 $ 2,023.50
05/31/1997 11/5/96 $ 7,750.00 $ 4,126.87
05/31/2000 11/5/96 $ 1,500.00* $ 798.75 Disbursed 12/20C
05/31/1998 11/5/96 $ 9,365.00 $ 4,986.86
05/31/1998 11/5/96 $ 7,500.00 $ 3,993.75
05/31/1999 11/5/96 $ 1,743.00 $ 928.15
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NOTE LOAN DISBURSEMENT
LAST NAME FIRST NAME MI EGD DATE AMOUNT AMT COSIGNER
----------------------------------------------------------------------------------------------------------
05/31/1997 11/5/96 $11,270.00 $ 6,001.27
05/31/1999 11/5/96 $ 3,000.00 $ 1,597.50
05/31/1997 11/5/96 $13,145.00 $ 6,999.71
05/31/1998 11/5/96 $ 4,210.00 $ 2,241.82
05/31/1999 11/5/96 $ 3,000.00 $ 1,597.50
05/31/1997 11/5/96 $14,800.00 $ 7,881.00
05/31/1999 11/5/96 $ 3,000.00 $ 1,597.50
05/31/1999 11/5/96 $ 9,430.00 $ 5,021.47
05/31/1998 11/5/96 $ 4,900.00 $ 2,609.25
05/31/1999 11/5/96 $ 3,000.00 $ 1,597.50
05/31/1999 11/5/96 $ 1,750.00 $ 931.87
05/31/1998 11/5/96 $ 6,300.00 $ 3,354.75
05/31/1999 11/5/96 $ 2,100.00 $ 1,118.25
05/31/1999 11/5/96 $ 1,200.00 $ 639.00
05/31/1998 11/5/96 $10,000.00 $ 5,325.00
05/30/1999 11/5/96 $ 3,000.00 $ 1,597.50
05/31/1998 11/5/96 $ 8,310.00 $ 4,425.07
05/31/1998 11/5/96 $ 7,000.00 $ 3,727.50
05/31/1998 11/5/96 $ 9,555.00 $ 5,088.04
05/31/1997 11/5/96 $10,150.00 $ 5,404.87
05/31/1999 11/5/96 $ 1,600.00 $ 798.75
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NOTE LOAN DISBURSEMENT
LAST NAME FIRST NAME MI EGD DATE AMOUNT AMT COSIGNER
----------------------------------------------------------------------------------------------------------
05/31/1998 11/5/96 $ 5,625.00 $ 2,995.31
05/25/1997 11/5/96 $15,150.00 $ 8,067.37
05/31/1999 11/5/96 $ 1,600.00 $ 798.75
05/31/1999 11/5/96 $ 1,500.00 $ 798.75
05/31/1999 11/5/96 $ 2,000.00 $ 1,065.00
05/31/1998 11/5/96 $ 9,500.00 $ 5,058.75
05/31/1999 11/5/96 $ 3,400.00 $ 1,810.50
05/31/1999 11/5/96 $ 5,500.00 $ 2,928.75
05/31/1999 11/5/96 $ 3,750.00 $ 1,996.87
05/31/1997 11/5/96 $ 2,700.00 $ 1,437.75
05/31/1999 11/5/96 $ 6,500.00 $ 3,461.25
05/31/1999 11/5/96 $ 4,500.00 $ 2,396.25
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TOTAL LOAN AMOUNT: $300,092.00
TOTAL DISBURSEMENT AMOUNT: $159,798.94
TOTAL NUMBER OF BORROWERS: 50
TOTAL NUMBER OF COSIGNERS: 1
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ATTACHMENT II
OFFICER'S CERTIFICATE
I, Xxxxxxx X. Xxxxx, Vice President of Delaware Capital
Management Inc., not in its individual capacity but solely as owner trustee,
hereby certify on behalf of The National Collegiate Trust 1996-S2 (the
"Issuer"), that, to the best of my knowledge and after due inquiry, as follows:
Each condition precedent specified in Section 4.07(c)(i) for
the Hartwick Subsequent Loans of the Indenture dated as of November 1,
1996, between the Issuer and State Street Bank and Trust Company, as
Indenture Trustee (the "Indenture") and each condition specified in the
Hartwick Subsequent Transfer Instrument has been satisfied by the
Issuer.
Capitalized terms not otherwise defined herein have the
meanings set forth in the Indenture.
IN WITNESS WHEREOF, I have hereunto signed my name.
Dated: January 7, 1997 THE NATIONAL COLLEGIATE TRUST 1996-S2
By: Delaware Trust Capital Management, Inc., not
in its individual capacity but solely as Owner
Trustee
By: /s/ Xxxxxxx X. Xxxxx
----------------------------
Name: Xxxxxxx X. Xxxxx
Title: Vice President
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