Common use of Application of Collections Clause in Contracts

Application of Collections. (a) With respect to each Trust Student Loan, all collections (including all Guarantee Payments) with respect thereto for each Collection Period shall be applied to fees, interest and principal on such Trust Student Loan by the Servicer in accordance with its customary practice.

Appears in 74 contracts

Samples: Administration Agreement (SLM Funding LLC), Administration Agreement (SLM Student Loan Trust 2006-9), Administration Agreement (SLM Education Credit Funding LLC)

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Application of Collections. (a) With respect to each Trust Student Loan, all collections (including all Guarantee Payments) with respect thereto for each Collection Period shall be applied to fees, interest and principal on such Trust Student Loan by the Servicer in accordance with its customary practice.

Appears in 20 contracts

Samples: Administration Agreement (SLM Student Loan Trust 2005-3), Administration Agreement (SLM Student Loan Trust 2005-4), Administration Agreement (SLM Funding LLC)

Application of Collections. (a) With respect to each Trust Student Loan, all collections (including all Guarantee Payments) with respect thereto for each Collection Period shall be applied to fees, interest and principal on such Trust Student Loan by the Servicer in accordance with its customary practice.

Appears in 9 contracts

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

Application of Collections. (a) With respect to each Trust Student Loan, all collections (including all Guarantee Payments) with respect thereto for each Collection Period shall be applied to fees, interest and principal on such Trust Student Loan by the Servicer in accordance with its customary practice.

Appears in 7 contracts

Samples: Administration Agreement (SLM Private Credit Student Loan Trust 2007-A), Administration Agreement (SLM Private Credit Student Loan Trust 2005-A), Administration Agreement (SLM Private Credit Student Loan Trust 2005-B)

Application of Collections. (a) A. With respect to each Trust Student Loan, all collections (including all Guarantee Payments) with respect thereto for each Collection Period shall be applied to fees, interest and principal on such Trust Student Loan by the Servicer in accordance with its customary practice.

Appears in 3 contracts

Samples: Master Administration Agreement (SLM Funding Corp), Administration Agreement (SLM Funding Corp), Administration Agreement (SLM Funding Corp)

Application of Collections. (a) With respect to each Trust Student Loan, all collections (including all Guarantee Payments) with respect thereto for each Collection Period shall be applied to fees, interest and principal on such Trust Student Loan by the Servicer in accordance with its customary practice.

Appears in 2 contracts

Samples: Administration Agreement (SLC Student Loan Trust 2009-3), Administration Agreement (SLC Student Loan Trust 2009-2)

Application of Collections. (a) With respect to each Trust Student Loan, all collections (including all Guarantee Payments) with respect thereto for each Collection Period shall be applied to fees, interest and principal on such Trust Student Loan by the Master Servicer or the Subservicer in accordance with its customary practice. In the event that a late fee is applied to a Trust Student Loan, such payment will be applied first to the applicable late fee, second to interest and third to principal.

Appears in 2 contracts

Samples: Administration Agreement (Chase Education Loan Trust 2007-A), Administration Agreement (Collegiate Funding of Delaware LLC)

Application of Collections. (a) With respect to each Trust Student Loan, all collections (including all Guarantee Payments) with respect thereto for each Collection Period shall be applied to fees, interest and principal on such Trust Student Loan by the Servicer in accordance with its customary practice.. Administration Agreement

Appears in 1 contract

Samples: Administration Agreement (SLM Student Loan Trust 2006-4)

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Application of Collections. (a) With respect to each Trust Student Loan, all collections (including all Guarantee Payments) with respect thereto for each Collection Period shall be applied to fees, interest and principal on such Trust Student Loan by the Master Servicer or the sub-servicer in accordance with its customary practice.

Appears in 1 contract

Samples: Administration Agreement (Wachovia Education Loan Funding LLC)

Application of Collections. (a) With respect to each Trust Student Loan, all collections (including all Guarantee Payments) with respect thereto for each Collection Period shall be applied to fees, interest and principal on such Trust Student Loan by the Master Servicer or the sub-servicer in accordance with its customary practice. In the event that a late fee is applied to a Trust Student Loan, such payment will be applied first to the applicable late fee, second to interest and third to principal.

Appears in 1 contract

Samples: Administration Agreement (Wachovia Student Loan Trust 2005-1)

Application of Collections. (a) With respect to each Trust Student Loan, all collections (including all Guarantee PaymentsLiquidation Proceeds and Recoveries) with respect thereto for each Collection Period shall be applied to fees, interest and principal on such Trust Student Loan by the Servicer in accordance with its customary practice.

Appears in 1 contract

Samples: Administration Agreement (SLC Private Student Loan Trust 2006-A)

Application of Collections. (a) With respect to each Trust Student Loan, all collections (including all Guarantee Payments) with respect thereto for each Collection Period shall be applied to Administration Agreement fees, interest and principal on such Trust Student Loan by the Servicer in accordance with its customary practice.

Appears in 1 contract

Samples: Administration Agreement (SLM Student Loan Trust 2006-1)

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