Eligible Lender definition

Eligible Lender an entity that is a “Bank” (as defined in the 0000 Xxx) and is not otherwise prohibited by Section 17 of the 1940 Act from lending to the Borrower.

Eligible Lender means any “eligible lender,” as defined in the Higher Education Act, and which has received an eligible lender designation from the Secretary of Education or from the Guarantee Agency with respect to Eligible Loans.

Eligible Lender means an entity that is an eligible lender under Section 435(d) of the Higher Education Act that holds Eligible Loans (whether directly or as an Eligible Lender Trustee).

Examples of Eligible Lender in a sentence

• Eligible lender status will lapse 3 years from the date of Agency approval and execution of the Lender’s Agreement unless the lender obtains a renewal.

• Eligible lender" means the authority and the Federal Government and any financial institution, credit union or institution of higher education that is an eligible lender under the federal Higher Education Act of 1965, Public Law 89-329, 79 Stat.

• Eligible lender trustee (ELT) - Lenders that do not meet the definition of an eligible lender under Section 435(d) of the HEA participate in the FFEL Program through an eligible lender serving as trustee.

• Eligible lender trusteeA school or school-affiliated organization may not contract with an eligible lender to serve as its trustee, unless the organization is continuing or renewing a contract made on or before September 30, 2006 with the eligible lender.

• Eligible lender" means any lender as defined under Title IV of the Higher Education Act of 1965, as amended.

More Definitions of Eligible Lender

Eligible Lender means a financial or credit institution, insurance company or other approved lender which meets the standards prescribed by the commission and has executed a lender participation agreement with the commission.

Eligible Lender means, at any time, a Person who, on any date on which interest is payable under this Agreement, is a Person which is beneficially entitled to the interest payable to it under this Agreement.

Eligible Lender means (a) a financial institution organized under the laws of the United States, or any state thereof, and having a combined capital and surplus of at least $250,000,000; (b) a commercial bank organized under the laws of any other country which is a member of the Organization for Economic Cooperation and Development, or a political subdivision of any such country, and having a combined capital and surplus of at least $250,000,000, provided that such bank is acting through a branch or agency located in the United States; or (c) a person controlled by, controlling, or under common control with any entity identified in clause (a) or (b) above.

Eligible Lender an entity that is a “Bank” (as defined in the 1940 Act) and, except for a Bank-Advisor with respect to its respective Affected Borrowers, is not otherwise prohibited by any Applicable Law from lending to any of the Borrowers. Notwithstanding the foregoing, “Eligible Lender” shall not include any Borrower or any natural person or any Defaulting Lender.

Eligible Lender means an Initial Lender, an Initial Issuing Bank or any Eligible Assignee (other than an Eligible Assignee described in clause (iii) of the definition of Eligible Assignee).

Eligible Lender means any entity described as eligible pursuant to the federal act to make or originate insured student loans, provided that no right of participation shall be deemed vested hereby in any lender.

Eligible Lender means any "lender" under and as defined in the Act and the Regulations.