Consolidation Loans definition
Examples of Consolidation Loans in a sentence
The Servicer shall also cause the related Schedule of Trust Student Loans to be revised to reflect the addition of any Add-On Consolidation Loans to the Trust Estate.
The Purchaser and the Eligible Lender Trustee on behalf of the Purchaser shall be entitled to all Special Allowance Payments and Interest Subsidy Payments accruing from the related Subsequent Cutoff Date with respect to the Additional Loans or Substituted Loans, and shall be responsible for the payment of any rebate fees applicable to the Additional Loans which are Consolidation Loans subject to the related ▇▇▇▇ of Sale accruing from the date of the related Subsequent Cutoff Date.
On the Closing Date, ▇▇▇▇▇▇ ▇▇▇ shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on the Loans and shall be responsible for the payment of any rebate fees applicable to the Consolidation Loans subject to each ▇▇▇▇ of Sale accruing up to but not including the Closing Date.
During the Consolidation Loan Add-On Period, the Servicer, upon receiving a Request to include Add-On Consolidation Loan(s) with an existing Trust Student Loan shall cause the Indenture Trustee to remit payment for such Add-On Consolidation Loan(s) to the applicable lender(s) in an amount equal to the outstanding principal balance of such Add-On Consolidation Loan(s), plus accrued and unpaid interest, if any, to the extent of sufficient amounts on deposit in the Add-On Consolidation Loan Account.
Each Financed Student Loan that is a Financed Federal Loan qualifies the holder thereof to receive Interest Subsidy Payments (other than SLS Loans, unsubsidized ▇▇▇▇▇▇▇▇ Loans and certain Consolidation Loans) and Special Allowance Payments from the Department and Guarantee Payments from the applicable Guarantor and qualifies the applicable Guarantor to receive reinsurance payments thereon from the Department.
On the Cutoff Date, Seller shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on the Loans and shall be responsible for the payment of any rebate fees applicable to the Consolidation Loans subject to each ▇▇▇▇ of Sale accruing up to but not including the Closing Date.
Except as contemplated by this Indenture or the other Basic Documents, the Issuer shall not engage in any business other than financing, purchasing, owning, selling and managing the Financed Student Loans, and originating Consolidation Loans during the Revolving Period, in the manner contemplated by this Indenture and the other Basic Documents and activities incidental thereto.
On the date of the ▇▇▇▇ of Sale, Seller shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on the Loans and shall be responsible for the payment of any rebate fees applicable to the Consolidation Loans subject to each ▇▇▇▇ of Sale accruing up to but not including the date of the ▇▇▇▇ of Sale.
On the date of the ▇▇▇▇ of Sale, ▇▇▇▇▇▇ ▇▇▇ shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on the Loans and shall be responsible for the payment of any rebate fees applicable to the Consolidation Loans subject to each ▇▇▇▇ of Sale accruing up to but not including the date of the ▇▇▇▇ of Sale.
For Consolidation Loans made in accordance with The Federal Family Education Loan Program (“FFELP”) of the Higher Education Act of 1965, as amended and formerly known as the Guaranteed Student Loan programs.