Exhibit 10.35
AGREEMENT TO AMEND
This Agreement to Amend is made and entered into as of the 1st day of
April, 2001, by and between NELnet, Inc., a Nevada corporation, formerly known
as National Education Loan Network, Inc. (the "Purchaser") and Union Bank and
Trust Company, a Nebraska banking corporation (the "Seller").
WHEREAS, the parties hereto entered into that certain Amended and Restated
Agreement dated as of January 1, 1999 (the "Agreement"), and the parties wish to
amend the Agreement in the terms specified herein.
NOW, THEREFORE, in consideration of the foregoing premises and the mutual
covenants and promises herein contained, the parties hereto agree as follows:
1. Definitions. Unless otherwise expressly stated herein, capitalized
terms in this Agreement to Amend shall have the same meanings specified to them
in the Agreement.
2. Amendments.
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(a) The phrase "(iii) an origination cost of $6.00 per Eligible Loan"
in the definition of "Purchase Price" in Article I of the Agreement shall be
deleted and the following phrase inserted in lieu thereof: "(iii) an origination
cost of $25.00 per Eligible Loan."
(b) The following shall be inserted immediately following the fifth
sentence of Section 2.1 of the Agreement: "Although Purchaser shall acquire an
interest in Student Loans originated by Seller in the northeastern region of the
United States (including, without limitation, the states of New York, New
Jersey, Connecticut, Pennsylvania, Vermont, New Hampshire and Maine) Illinois,
South Dakota, Minnesota and Texas, and the aggregate volume of Principal Balance
of Student Loans originated in such states shall be included in computation of
the base origination amount of $120 million, Seller shall, after April 1, 2001,
otherwise receive no credit for the aggregate volume of Principal Balance of
Student Loans originated in such states or Student Loans which are not
originated by Seller and such volume shall not be included to diminish the
computation of amounts of Student Loans in which Purchaser acquires an interest
under this Agreement. Seller shall continue to receive credit for the aggregate
volume of Principal Balance of Student Loans originated in the states of
Nebraska, Kansas, Iowa and the western geographic region of the United States
where the brand name of Seller is currently used to market Student Loans
(including Alaska, Arizona, California, Colorado, Nevada, Oregon, Washington and
Hawaii).
3. Effect of Amendment. Unless expressly modified or amended in Section 2
above, all terms and provisions contained in the Agreement shall remain in full
force and effect without modification.
Union Bank and Trust Company NELnet, Inc.
By: /s/ Xxxxxxx Xxxxxx By: /s/ Xxx Xxxx
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Title: CEO Title: President
