Auction Rate and Carry-Over Amounts. During the Initial Period, each Class of Auction Rate Notes shall bear interest at the Initial Rate for such Class. Thereafter, and except with respect to an Auction Period Adjustment, the Auction Rate Notes shall bear interest at an Auction Note Interest Rate based on a 28-day Auction Period for the Auction Rate Notes, as determined pursuant to this Section 2.01 and Section 2.02
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Samples: Indenture (SLM Student Loan Trust 2006-7), Indenture (SLM Student Loan Trust 2007-4), Administration Agreement (SLM Private Credit Student Loan Trust 2007-A)
Auction Rate and Carry-Over Amounts. During the Initial Period, each Class of the Auction Rate Notes shall bear interest at the Initial Rate for such ClassSubclass. Thereafter, and except with respect to an Auction Period Adjustment, the Auction Rate Notes shall bear interest at an Auction Note Interest Rate based on a 28-day Auction Period for the Auction Rate Notes, as determined pursuant to this Section 2.01 and Section 2.02
Appears in 1 contract
Auction Rate and Carry-Over Amounts. During the Initial Period, each Class of the Auction Rate Notes shall bear interest at the Initial Rate for such ClassSubclass. Thereafter, and except with respect to an Auction Period Adjustment, the Auction Rate Notes shall bear interest at an Auction Note Interest Rate based on a 7-day or 28-day Auction Period for the Auction Rate Notes, as determined pursuant to this Section 2.01 and Section 2.02
Appears in 1 contract
Samples: Nelnet Inc
