Common use of Accumulation Account Clause in Contracts

Accumulation Account. (i) If, on any Distribution Date, principal would be payable to the Reset Rate Notes then bearing interest at a fixed rate (including, without limitation, the Reset Rate Notes that bears a fixed rate of interest during its respective initial Reset Period until and including the related Initial Reset Date), principal allocated to the Reset Rate Notes pursuant to Section 2.8(f) above will be deposited into the Accumulation Account.

Appears in 4 contracts

Samples: Administration Agreement (SLM Funding LLC), Administration Agreement (SLM Funding LLC), Administration Agreement (SLM Funding LLC)

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Accumulation Account. (i) If, on any Distribution Date, principal would be payable to the Reset Rate Notes then bearing interest at structured not to receive a fixed rate (including, without limitation, payment of principal until the Reset Rate Notes that bears a fixed rate end of interest during its respective initial Reset Period until and including the related Initial Reset Date)Period, principal allocated to the Reset Rate Notes pursuant to Section 2.8(f) above will be deposited into the Accumulation AccountAccount for those Reset Rate Notes.

Appears in 3 contracts

Samples: Administration Agreement (SLM Student Loan Trust 2005-6), Administration Agreement (SLM Student Loan Trust 2005-8), Administration Agreement (SLM Student Loan Trust 2005-5)

Accumulation Account. (i) If, on any Distribution Date, principal would be payable to the any Reset Rate Notes then bearing interest at structured not to receive a fixed rate (including, without limitation, payment of principal until the Reset Rate Notes that bears a fixed rate end of interest during its respective initial Reset Period until and including the related Initial Reset Date)Period, principal allocated to the that class of Reset Rate Notes pursuant to Section 2.8(f) above will be deposited into the related Accumulation AccountAccount for those Reset Rate Notes.

Appears in 3 contracts

Samples: Administration Agreement (SLM Student Loan Trust 2005-9), Administration Agreement (SLM Student Loan Trust 2006-5), Administration Agreement (SLM Student Loan Trust 2005-7)

Accumulation Account. (i) If, on any Distribution Date, principal would be payable to the Reset Rate Notes then bearing interest at a fixed rate (including, without limitation, the Reset Rate Notes that bears bear a fixed rate of interest during its their respective initial Reset Period until and including the related Initial Reset Date), principal allocated to the Reset Rate Notes pursuant to Section 2.8(f) above will be deposited into the Accumulation Account.

Appears in 2 contracts

Samples: Administration Agreement (SLM Funding LLC), Administration Agreement (SLM Funding LLC)

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Accumulation Account. (i) If, on any Distribution Date, principal would be payable to the a class of Reset Rate Notes then bearing interest at a fixed rate (including, without limitation, the each class of Reset Rate Notes that bears a fixed rate of interest during its respective initial Reset Period until and including the related Initial Reset Date), principal allocated to the Reset Rate Notes that class pursuant to Section 2.8(f) above will be deposited into the related Accumulation Account.

Appears in 1 contract

Samples: Administration Agreement (SLM Funding LLC)

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