EXHIBIT 1.1
GATE(sm) RECEIVABLE ASSET-BACKED DEBT SECURITIES (GRADS(sm))
COLLATERALIZED STUDENT LOAN BONDS
SERIES 1997-S2
$8,250,000
TERMS AGREEMENT
Dated: November 25, 1997
To: The National Collegiate Trust (the "Company") and The National
Collegiate Trust 1997-S2 (the "Issuer")
Re: Underwriting Agreement dated as of April 3, 1996 (the "Agreement")
Series Designation: 7.45% Collateralized Student Loan Bonds, Series 1997-S2
Terms of the Bonds and Underwriting Compensation:
Original Interest Price to
Principal Amount Rate Public
---------------- ------ -------
$8,250,000 7.24% 100%
Certificate Ratings:
Xxxxx'x Aaa; Fitch AAA
Underwriting Fee:
1.15% of the original principal amount of the Series 1997-S2 Bonds issued.
.
Purchase Price:
$8,155,125
-10-
Final Maturity:
September 20, 2014
Closing Date and Location:
December 3, 1997 at the office of Xxxxxxx Xxxxxxxx & Xxxx, New
York, New York.
The Issuer, the Company and the Underwriter hereby agree to
the terms of this Terms Agreement and to the terms of the Underwriting
Agreement, dated as of April 3, 1996, between the Company and
BancAmerica Securities, Inc.
THE NATIONAL COLLEGIATE TRUST 1997-S2
By: DELAWARE TRUST CAPITAL MANAGEMENT,
INC., not in its individual capacity,
but solely as Owner Trustee
By: /S/
--------------------------------------------
Name:
Title:
BANCAMERICA SECURITIES, INC.
By: /S/
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Name:
Title:
ACCEPTED:
THE NATIONAL COLLEGIATE TRUST
By: DELAWARE TRUST CAPITAL MANAGEMENT,
INC., not in its individual capacity,
but solely as Owner Trustee
By: /S/
--------------------------------------------
Name:
Title:
