Common use of Assignment to Permitted Assignee Clause in Contracts

Assignment to Permitted Assignee. The parties contemplate that: (a) pools of Committed Student Loans will be sold by the Program Lender to SPEs in Securitization Transactions sponsored by FMC from time to time, and Permitted Assignees will receive a collateral assignment of the Committed Student Loans in each Securitization Transaction; and (b) at the same time and as part of the same transaction, FMC will assign its rights under this Agreement to obtain Servicing of said Student Loans to said SPEs, which rights may be further assigned to Permitted Assignees, so that said Student Loans will be Serviced by Servicer under the terms of this Agreement, following execution by the parties of a Servicer Consent Letter.

Assignment to Permitted Assignee. The parties contemplate that: (a) pools of Committed Student Loans will be he sold by the Program Lender to SPEs in Securitization Transactions sponsored by FMC from time to timetine, and Permitted Assignees will receive a collateral assignment of the Committed Student Loans in each Securitization Transaction; and (b) at the same time and as a part of the same transaction, FMC will assign its rights under this Agreement to obtain Servicing of said Student Loans to said SPEs, which rights may be maybe further assigned to Permitted Assignees, so that said Student Loans will be Serviced by Servicer under the terms of this Agreement, following execution by the parties of a Servicer Consent Letter.