Alternative Loan Program definition

Alternative Loan Program means each program for the making of Student Loans other than FFELP Loans that is identified in a Supplemental Indenture as a program the Alternative Loans under which are eligible to be Financed under this Indenture.
Sample 1Sample 2Sample 3
Alternative Loan Program means each of the following programs for the making of Student Loans other than FFELP Loans the Alternative Loans under which are eligible to be Financed under the Indenture: (i) the Great Opportunities Academic Loan and Great Opportunities Academic Loan II Programs offered by U.S. Bank National Association; (ii) the Choice Loan, Pathway, Partner and MEFC Loan Programs offered by Marquette Bank, N.A.; (iii) the Quest Loan, Independence and BrainBucks Loan Programs offered by Surety Loan Funding Company; (iv) the AFG, the AFG Pathway and the AFG Select Programs offered by Provincial Bank; (v) the Bremer Education Loan and the Bremer Education Loan II Programs offered by Xxxxxx Bank N.A.; and (vi) such other programs upon receipt by the Trustee of written notice thereof by an Authorized Officer of the Corporation and confirmation from each Rating Agency that financing of loans under such programs under the Indenture will not cause the withdrawal or downgrade of any rating of any series of Notes any of which are Outstanding.
Sample 1Sample 2Sample 3
Alternative Loan Program means each of the following programs for the making of Student Loans other than FFELP Loans the Alternative Loans under which are eligible to be Financed under the Indenture: (i) the Great Opportunities Academic Loan and Great Opportunities Academic Loan II Programs offered by U.S. Bank National Association; (ii) the ChoiceLoan and Pathway Loan Programs offered by Marquette Bank, N.A.; and (iii) such other programs upon receipt by the Trustee of written notice thereof by an Authorized Officer of the Corporation and confirmation from each Rating Agency that financing of loans under such programs under the Indenture will not cause the withdrawal or downgrade of any rating of any series of Notes any of which are Outstanding.
Sample 1Sample 2

Examples of Alternative Loan Program in a sentence

  • Retain summary records of all contacts, follow-ups and collection efforts (showing at least the date and subject of each communication with the Borrower or endorser for collection of each delinquent Financed Student Loan) and records of all correspondence (including, without limitation, changes for which records are required to be maintained by the Higher Education Act, the Guarantee Program regulations and, where applicable, each Alternative Loan Program) relating to each Financed Student Loan.

  • The Trustee shall be the legal owner of all Financed Student Loans for all purposes of the Higher Education Act, each Alternative Loan Program and each Guarantee Program.

  • The Servicer shall perform or shall cause its subcontractor to perform all services hereunder in compliance with the Higher Education Act, applicable requirements of each Guarantee Agency and each Alternative Loan Program and all other applicable federal, state and local laws and regulations.

  • The Servicer shall perform all services and duties customary to the origination and disbursement of Student Loans in accordance with generally accepted industry standards and practices and in compliance with the Higher Education Act, applicable requirements of the Guarantor and each Alternative Loan Program and all other applicable federal, state and local laws and regulations.

  • All Financed Student Loans shall be administered and collected by a Servicer selected by the Corporation in a competent, diligent and orderly fashion and in accordance with all requirements of the Higher Education Act, the Secretary of Education, this Indenture, the Federal Reimbursement Contracts, each Alternative Loan Program, each Guarantee Program and each Guarantee Agreement.

  • In the case of defaulted Financed Alternative Loans, take all steps necessary to recover on such defaulted Financed Alternatives Loans in accordance with the requirements of the applicable Alternative Loan Program.

  • No such amendment shall become effective unless and until the Trustee consents in writing thereto, which consent shall not be given unless the Trustee receives an opinion of Counsel that such amendment is required by the Higher Education Act or the related Alternative Loan Program, or is not to the prejudice of the Holders of the Notes or Other Beneficiaries.

  • Exercise reasonable discretion in approving borrower requests for forbearance (as permitted under the Higher Education Act and the Guarantee Program regulations or the applicable Alternative Loan Program, as appropriate) where such approval will not adversely affect the financial viability of the Issuer and will not violate the covenants set forth in the Indenture.

  • Any Servicer shall perform or shall cause its subcontractor to perform all services under the Servicing Agreement in compliance with the Higher Education Act, applicable requirements of each Guarantee Agency and each Alternative Loan Program and all other applicable federal, state and local laws and regulations.

  • The Servicer agrees that each of the Financed Student Loans, while held under the Indenture, shall be serviced by it in accordance with the procedures established in the Higher Education Act, the Guarantee Program regulations and, where applicable, each Alternative Loan Program.


More Definitions of Alternative Loan Program

Alternative Loan Program means each of the following programs for the making of Student Loans other than FFELP Loans the Alternative Loans under which are eligible to be Financed under the Indenture: (i) the Great Opportunities Academic Loan and Great Opportunities Academic Loan II Programs offered by U.S. Bank National Association; (ii) the Choice Loan, Pathway, Partner and MEFC Loan Programs offered by Marquette Bank, N.A.; (iii) the Quest Loan, Independence, Xxxxxx Education and BrainBucks Loan Programs offered by Surety Loan Funding Company; and (iv) such other programs upon receipt by the Trustee of written notice thereof by an Authorized Officer of the Corporation and confirmation from each Rating Agency that financing of loans under such programs under the Indenture will not cause the withdrawal or downgrade of any rating of any series of Notes any of which are Outstanding.
Sample 1

Related to Alternative Loan Program

  • Loan Program means the State Treasurer’s Interest-Free Loan Program for Colorado School Districts authorized pursuant to the Loan Program Statutes.

  • Alternative education program means a school or separate class group designed to best serve students’ educational needs and interests and assist students in achieving the academic standards of the district and the state.

  • Streamlined Documentation Mortgage Loan Any Mortgage Loan originated pursuant to the Seller's Streamlined Loan Documentation Program then in effect.

  • Cooperative Loans Any of the Mortgage Loans made in respect of a Cooperative Apartment, evidenced by a Mortgage Note and secured by (i) a Security Agreement, (ii) the related Cooperative Stock Certificate, (iii) an assignment of the Cooperative Lease, (iv) financing statements and (v) a stock power (or other similar instrument), and ancillary thereto, a recognition agreement between the Cooperative and the originator of the Cooperative Loan, each of which was transferred and assigned to the Trustee pursuant to Section 2.01 and are from time to time held as part of the Trust Fund.

  • Cooperative Loan Any Mortgage Loan secured by Cooperative Shares and a Proprietary Lease.

  • Educational loan means a loan made by the authority to an institution.

  • Commercial loan means a loan that is not made primarily for

  • Original Loan shall have the meaning set forth in the recitals hereto.

  • Alternative program means a class or environment established within the regular educational program and designed to accommodate specific student educational needs such as, but not limited to, work-related training; reading, mathematics or science skills; communication skills; social skills; physical skills; employability skills; study skills; or life skills.

  • Additional Loan means the Eligible Loans evidenced by a Note or Notes sold from time to time during the Supplemental Purchase Period pursuant to an Additional Purchase Agreement and related documentation, together with any guaranties and other rights relating thereto including, without limitation, Interest Subsidy Payments and Special Allowance Payments.

  • Acquisition Loan means a loan or other extension of credit, including an installment obligation to a “party in interest” (as defined in Section 3(14) of ERISA) incurred by the Trustee in connection with the purchase of Company Stock.

  • Eligible facility means a gas-fired electric generation facility with a nominal capacity of 1,000 MW or less.

  • Educational facility means a structure available for use as a dormitory or other housing facility, including housing facilities for students, a dining hall, student union, administration building, academic building, library, laboratory, research facility, classroom, athletic facility, health care facility, and maintenance, storage, or utility facility, and other structures or facilities related thereto or required or useful for the instruction of students or the conducting of research or the operation of an institution for higher education, including parking and other facilities or structures essential or convenient for the orderly conduct of the institution for higher education, and shall include lands and interests in lands and landscaping, site preparation, furniture, equipment, machinery, and other similar items necessary or convenient for the operation of a particular facility or structure in the manner for which its use is intended, and any improvements necessary to a particular facility to make the facility more energy efficient. Educational facility does not include items as books, fuel, supplies, or other items the costs of which are customarily deemed to result in a current operating charge and does not include any facility used or to be used for sectarian instruction or as a place of religious worship, nor a facility which is used or to be used primarily in connection with a part of the program of a school or department of divinity for a religious denomination.

  • alternative plan means a group RRSP, including the BCTF Plan, which was entered into prior to the coming into force of this Article, and which is still in effect as of that date.

  • SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

  • Cut-off Date Loan Balance means the Loan Balance calculated as of the Cut-off Date.

  • Additional Loans means any Additional Revolving Loans and any Additional Term Loans.

  • PEBB program means the program within the HCA that administers insurance and other benefits for eligible employees (as described in WAC 182-12-114), eligible retired employees (as described in WAC 182-12-171 and 182-12-180), eligible survivors (as described in WAC 182-12-180, 182-12-250, and 182-12-265), eligible dependents (as de- scribed in WAC 182-12-250 and 182-12-260) and others as defined in RCW 41.05.011.

  • Continuing education credit or “CE credit” means one continuing education credit as defined in [insert reference in State law or regulations governing producer continuing education course approval].

  • Number of Students Who Began Program means the number of students who began the program who are scheduled to complete the program within the reporting calendar year.

  • Equipment Loan means middle market equipment loans that consist of loans made to obligors in the United States of America primarily secured by new or used transportation equipment and managed by the Equipment Finance reporting category of the Commercial Lending and Leasing division of GE Capital.

  • Initial Loan is defined in Section 2.1.

  • Group III Mortgage Loans Group IV Mortgage Loans" and "Group V Mortgage Loans," respectively), formed by Wells Fargo Asset Securities Corporation (hereinafter called the "Depxxxxxr," which term includes any successor entity under the Agreement referred to below). The Trust Estate was created pursuant to a Pooling and Servicing Agreement dated as of July 25, 2007 (the "Agreement") among the Depositor, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer") anx XXXC Bank USA, National Association, as trustee (the "Trustee"), a summary of certain of the pertinent provisions of which is set forth hereinafter. To the extent not defined herein, the capitalized terms used herein have the meanings ascribed to such terms in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date"), commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the Record Date, in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the Group II-A Distribution Amount for the Class II-A-IO Certificates required to be distributed to Holders of the Class II-A-IO Certificates on such Distribution Date, subject to adjustment in certain events as specified in the Agreement. The Class II-A-IO Certificates are not entitled to distributions in respect of principal. The Class II-A-IO Pass-Through Rate with respect to each Distribution Date prior to the Distribution Date in June 2012 will be a per annum rate equal to 0.18786445%. On and after the Distribution Date in June 2012, the Class II-A-IO Pass-Through Rate will be zero and the Class II-A-IO Certificates will be entitled to no further distributions of interest. The amount of interest which accrues on this Certificate in any month will be subject to reduction with respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and the interest portion of certain Realized Losses allocated to the Class II-A-IO Certificates, as described in the Agreement. Distributions on this Certificate will be made by the Paying Agent by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register, unless such Person has notified the Paying Agent pursuant to the Agreement that such payments are to be made by wire transfer of immediately available funds. Notwithstanding the above, the final distribution on this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency of the Paying Agent specified for that purpose in the notice of final distribution. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate constitutes a "regular interest" in a "real estate mortgage investment conduit" as those terms are defined in Section 860G(a)(1) and Section 860D, respectively, of the Internal Revenue Code of 1986, as amended. Unless this Certificate has been countersigned by an authorized officer of the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.

  • Replacement Mortgage Loan A Mortgage Loan or Mortgage Loans in the aggregate substituted by the Seller for a Deleted Mortgage Loan, which must, on the date of such substitution, as confirmed in a Request for Release, (i) have a Stated Principal Balance, after deduction of the principal portion of the Scheduled Payment due in the month of substitution, not in excess of, and not less than 90% of, the Stated Principal Balance of the Deleted Mortgage Loan; (ii) if the Replacement Mortgage Loan is a fixed rate Mortgage Loan, have a fixed Mortgage Rate not less than or more than 1% per annum higher than the Mortgage Rate of the Deleted Mortgage Loan; (iii) have the same or higher credit quality characteristics than that of the Deleted Mortgage Loan; (iv) have a Loan-to-Value Ratio no higher than that of the Deleted Mortgage Loan; (v) have a remaining term to maturity no greater than (and not more than one year less than) that of the Deleted Mortgage Loan; (vi) not permit conversion of the Mortgage Rate from a fixed rate to a variable rate; (vii) have the same lien priority as the Deleted Mortgage Loan; (viii) constitute the same occupancy type as the Deleted Mortgage Loan or be owner occupied; (ix) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Maximum Mortgage Rate not less than the Maximum Mortgage Rate on the Deleted Mortgage Loan, (x) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Minimum Mortgage Rate not less than the Minimum Mortgage Rate of the Deleted Mortgage Loan, (xi) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Gross Margin equal to or greater than the Gross Margin of the Deleted Mortgage Loan, (xii) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a next Adjustment Date not more than two months later than the next Adjustment Date on the Deleted Mortgage Loan, (xiii) comply with each representation and warranty set forth in Section 7 of the Mortgage Loan Purchase Agreement and (xiv) the Custodian has delivered a Final Certification noting no defects or exceptions.

  • Subsequent Mortgage Loans means, for purposes of this Agreement, the Subsequent Mortgage Loans listed in the Subsequent Mortgage Loan Schedule attached hereto as Schedule I.

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.