Common use of CHANGES IN THE AUCTION DATE Clause in Contracts

CHANGES IN THE AUCTION DATE. The Market Agent, with the --------------------------- written consent of an Authorized Officer of the Corporation and upon receipt of the opinion of Bond Counsel as hereinafter required, may specify an earlier Auction Date (but in no event more than five (5) Business Days earlier) than the Auction Date that would otherwise be determined in accordance with the definition of "Auction Date" in Section 1 of this First Supplemental Indenture with respect to one or more specified Auction Periods in order to conform with then current market practice with respect to similar securities or to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date and the Auction Rate Series 1997-1 Note Interest Rate borne by the Auction Rate Series 1997-1 Notes. No such change in the Auction Date shall be effective unless the Corporation and the Trustee, prior to the proposed effective date of such change, have received a written opinion of Bond Counsel to the effect that such change will not adversely affect the exclusion of interest on any of the Series 1997-1 Notes from income for federal income tax purposes. The Market Agent shall deliver a written request for consent to such change in the Auction Date to the Corporation not less than three days nor more than twenty (20) days prior to the effective date of such change. The Market Agent shall provide notice of its determination to specify an earlier Auction Date for one or more Auction Periods by means of a written notice delivered at least ten (10) days prior to the proposed changed Auction Date to the Trustee, the Auction Agent, the Corporation and the Securities Depository. Such notice shall be substantially in the form of, or contain substantially the information contained in, Exhibit G to this First Supplemental Indenture. In connection with any change described in this Section 11, the Auction Agent shall provide such further notice to such parties as is specified in Section 2.5 of the Auction Agent Agreement.

Appears in 1 contract

Samples: Education Loans Inc /De

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CHANGES IN THE AUCTION DATE. The Market Agentapplicable Broker-Dealer, with the --------------------------- written consent of an Authorized Officer of the Corporation and and, if applicable, upon receipt of the opinion of Bond Note Counsel as hereinafter requiredrequired below, may specify an earlier a different Auction Date (but in no event more than five (5) Business Days earlier) than the Auction Date that would otherwise be determined in accordance with the definition of "Auction Date" in Section 1 1.01 of this First Supplemental Indenture Appendix A with respect to one or more specified Auction Periods in order to conform with then current market practice with respect to similar securities or to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date and the Auction Rate Series 1997-1 Note Interest Rate interest rate borne by on the Auction Rate Series 1997-1 Notes. No such change in the Auction Date shall be effective unless the Corporation and the Trustee, prior to the proposed effective date of such change, have received a written opinion of Bond Counsel to the effect that such change will not adversely affect the exclusion of interest on any of the Series 1997-1 Notes from income for federal income tax purposesSecurities. The Market Agent applicable Broker-Dealer shall deliver a written request for consent to such change in the length of the Auction Date to the Corporation not less than three days nor more than twenty (20) Issuer at least 14 days prior to the effective date of such change. The Market Agent If the Issuer shall have delivered such written consent to the applicable Broker-Dealer, such Broker-Dealer shall provide notice of its determination to specify an earlier Auction Date for one or more Auction Periods by means of a written notice delivered at least ten (10) 10 days prior to the proposed changed Auction Date to the Indenture Trustee, the Auction Agent, the Corporation Issuer, each Rating Agency and the Securities Depository. Such notice shall be substantially in the form of, or contain substantially the information contained in, Exhibit G to this First Supplemental Indenture. In connection with any change described in this Section 11, the Auction Agent shall provide such further notice to such parties as is specified in Section 2.5 of the Auction Agent Agreementattached hereto.

Appears in 1 contract

Samples: SLC Student Loan Receivables I Inc

CHANGES IN THE AUCTION DATE. The applicable Market Agent, with the --------------------------- written consent of an Authorized Officer of the Corporation and upon receipt of the opinion of Bond Counsel as hereinafter requiredIssuer, may specify an earlier Auction Date (but in no event more than five (5) Business Days earlier) than the Auction Date that would otherwise be determined in accordance with the definition of "Auction Date" in Section 1 of this First Supplemental Indenture with respect to one or more specified Auction Periods for one or more series of Series 2001 Notes in order to conform with then current market practice with respect to similar securities or to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date and the Auction Rate Series 1997-1 Note Applicable Interest Rate borne by the Auction Rate Series 1997-1 Notes. No such change in the Auction Date shall be effective unless the Corporation and the Trustee, prior to the proposed effective date 2001 Notes of such change, have received a written opinion of Bond Counsel to the effect that such change will not adversely affect the exclusion of interest on any of the Series 1997-1 Notes from income for federal income tax purposesseries. The applicable Market Agent shall deliver a written request for consent to such change in the Auction Date to the Corporation Issuer not less than three days nor more than twenty (20) days prior to the effective date of such change. The applicable Market Agent shall provide notice of its determination to specify an earlier Auction Date for one or more Auction Periods by means of a written notice delivered at least ten (10) three days prior to the proposed changed Auction Date to the Trustee, the Auction Agent, the Corporation Issuer and the Securities Depository. Such notice shall be substantially in the form of, or contain substantially the information contained in, Exhibit G to this First Supplemental Indenture. In connection with any change described in this Section 11, the Auction Agent shall provide such further notice to such parties as is specified in Section 2.5 of the Auction Agent Agreement.

Appears in 1 contract

Samples: Collegiate Funding Services Inc

CHANGES IN THE AUCTION DATE. The Market Agentapplicable Broker-Dealer, with the --------------------------- written consent of an Authorized Officer of the Corporation and and, if applicable, upon receipt of the opinion of Bond Note Counsel as hereinafter requiredrequired below, may specify an earlier Auction Date (but in no event more than five (5) Business Days earlier) than the Auction Date that would otherwise be determined in accordance with the definition of "Auction Date" in Section 1 1.01 of this First Supplemental Indenture Appendix A with respect to one or more specified Auction Periods in order to conform with then current market practice with respect to similar securities or to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date and the Auction Rate Series 1997-1 Note Interest Rate interest rate borne by on the Auction Rate Series 1997-1 Notes. No such change in the Auction Date shall be effective unless the Corporation and the Trustee, prior to the proposed effective date of such change, have received a written opinion of Bond Counsel to the effect that such change will not adversely affect the exclusion of interest on any of the Series 1997The applicable Broker-1 Notes from income for federal income tax purposes. The Market Agent Dealer shall deliver a written request for consent to such change in the length of the Auction Date to the Corporation not less than three days nor more than twenty (20) Issuer at least 14 days prior to the effective date of such change. The Market Agent If the Issuer shall have delivered such written consent to the applicable Broker-Dealer, such Broker-Dealer shall provide notice of its determination to specify an earlier Auction Date for one or more Auction Periods by means of a written notice delivered at least ten (10) 10 days prior to the proposed changed Auction Date to the Trustee, the Auction Agent, the Corporation Issuer, each Rating Agency and the Securities Depository. Such notice shall be substantially in the form of, or contain substantially the information contained in, Exhibit G to this First Supplemental Indenture. In connection with any change described in this Section 11, the Auction Agent shall provide such further notice to such parties as is specified in Section 2.5 of the Auction Agent Agreementattached hereto.

Appears in 1 contract

Samples: Nelnet Inc

CHANGES IN THE AUCTION DATE. The Market Agent, with the --------------------------- written consent of an Authorized Officer of the Corporation and upon receipt of the opinion of Bond Counsel as hereinafter requiredAdministrator, may specify an earlier or later Auction Date (but in no event more than five (5) Business Days earlierearlier or later) than the Auction Date that would otherwise be determined in accordance with the definition of "Auction Date" in Section 1 1.1 of this First Supplemental Indenture _____ Terms Supplement with respect to one or more specified Auction Periods in order to conform with then current market practice with respect to similar securities or to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date and the Auction Rate Series 1997-1 Note Class Interest Rate borne by the on a Class of Auction Rate Series 1997-1 Notes. No such change in the Auction Date shall be effective unless the Corporation and the Trustee, prior to the proposed effective date of such change, have received a written opinion of Bond Counsel to the effect that such change will not adversely affect the exclusion of interest on any of the Series 1997-1 Notes from income for federal income tax purposes. The Market Agent shall deliver a written request for consent to such change in the length of the Auction Date to the Corporation Issuer not less than three days nor more than twenty (20) 20 days prior to the effective date of such changechange together with a certificate demonstrating the need for change in reliance on such factors. Notwithstanding any adjustments to Auction Periods that have been initiated or effected pursuant to Section 2.5.7 hereof, the Market Agent shall specify Auction Periods such that a Note Distribution Date for each Class of Auction Rate Notes shall occur in the months of January, April, July and October, commencing January 1996. The Market Agent shall provide notice of its determination to specify an earlier Auction Date for one or more Auction Periods by means of a written notice delivered at least ten (10) 10 days prior to the proposed changed Auction Date to the Indenture Trustee, the Auction Agent, the Corporation Issuer, the Rating Agencies and the Securities Depository. Such notice shall be substantially in the form of, or contain substantially the information contained in, Exhibit G F to this First Supplemental Indenture_____ Terms Supplement. In connection with any change described in this Section 112.5.8, the Auction Agent shall provide such further notice to such parties as is specified in Section 2.5 of the Auction Agent Agreement.

Appears in 1 contract

Samples: Transworld Insurance Co

CHANGES IN THE AUCTION DATE. The Market Agent, with the --------------------------- written consent of an Authorized a Responsible Officer of the Corporation Representative, and upon receipt the written consent of the opinion of Bond Counsel as hereinafter requiredCertificate Insurer, may specify an earlier or later Auction Date (but in no event more than five (5) Business Days earlierearlier or later) than the Auction Date that would otherwise be determined in accordance with the definition of "Auction Date" in Section 1 Article I of this First Supplemental Indenture these Auction Procedures with respect to one or more specified Auction Periods in order to conform with then current market practice with respect to similar securities or to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date and the Class Remittance Rate borne on a Class of Auction Rate Series 1997-1 Note Interest Rate borne by the Auction Rate Series 1997-1 Notes. No such change in the Auction Date shall be effective unless the Corporation and the Trustee, prior to the proposed effective date of such change, have received a written opinion of Bond Counsel to the effect that such change will not adversely affect the exclusion of interest on any of the Series 1997-1 Notes from income for federal income tax purposesCertificates. The Market Agent shall deliver a written request for consent to such change in the length of the Auction Date to the Corporation Representative and the Certificate Insurer not less than three days nor more than twenty (20) 20 days prior to the effective date of such changechange together with a certificate demonstrating the need for change in reliance on such factors. The Market Agent shall provide notice of its determination to specify an earlier Auction Date for one or more Auction Periods by means of a written notice delivered at least ten (10) 10 days prior to the proposed changed Auction Date to the Trustee, the Auction Agent, the Corporation Representative, the Rating Agencies, the Certificate Insurer and the Securities Depository. Such notice shall be substantially in the form of, or contain substantially the information contained in, Exhibit G Annex C to this First Supplemental Indenturethese Auction Procedures. In connection with any change described in this Section 112.1.7, the Auction Agent shall provide such further notice to such parties as is specified in Section 2.5 of the Auction Agent Agreement.

Appears in 1 contract

Samples: Sub Servicing Agreement (Money Store Home Equity Corp)

CHANGES IN THE AUCTION DATE. The applicable Market Agent, with the --------------------------- written consent of an Authorized Officer of the Corporation and upon receipt of the opinion of Bond Counsel as hereinafter required, may Issuer specify an earlier Auction Date (but in no event more than five (5) Business Days earlier) than the Auction Date that would otherwise be determined in accordance with the definition of "Auction Date" in Section 1 of this First Supplemental Indenture _____ Supplement with respect to one or more specified Auction Periods for one or more series of Series 200_-_ Notes, designate a Series Auction Date different than as set forth in the definition of Interest Period in order to conform with then current market practice with respect to similar securities or to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date and the Auction Rate Series 1997-1 Note Applicable Interest Rate borne by the Auction Rate Series 1997-1 Notes. No such change in the Auction Date shall be effective unless the Corporation and the Trustee, prior to the proposed effective date 200_-_ Notes of such change, have received a written opinion of Bond Counsel to the effect that such change will not adversely affect the exclusion of interest on any of the Series 1997-1 Notes from income for federal income tax purposesseries. The applicable Market Agent shall deliver a written request for consent to such change in the Auction Date to the Corporation Issuer not less than three days nor more than twenty (20) days prior to the effective date of such change. The applicable Market Agent shall provide notice of its determination to specify an earlier Auction Date for one or more Auction Periods by means of a written notice delivered at least ten (10) three days prior to the proposed changed Auction Date to the Trustee, the Auction Agent, the Corporation Issuer and the Securities Depository. Such notice shall be substantially in the form of, or contain substantially the information contained in, Exhibit G to this First Supplemental Indenture_____ Supplement. In connection with any change described in this Section 11, the Auction Agent shall provide such further notice to such parties as is specified in Section 2.5 of the Auction Agent Agreement.

Appears in 1 contract

Samples: College Loan Corp Trust I

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CHANGES IN THE AUCTION DATE. The Market Agent, with the --------------------------- written consent of an Authorized Officer of the Corporation and upon receipt of the opinion of Bond Counsel as hereinafter requiredAdministrator, may specify an earlier or later Auction Date (but in no event more than five (5) Business Days earlierearlier or later) than the Auction Date that would otherwise be determined in accordance with the definition of "Auction Date" in Section 1 1.1 of this First Supplemental Indenture Terms Supplement with respect to one or more specified Auction Periods in order to conform with then current market practice with respect to similar securities or to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date and the Auction Rate Series 1997-1 Note Class Interest Rate borne by the Auction Rate on a Class of Series 1997-1 Notes. No such change in the Auction Date shall be effective unless the Corporation and the Trustee, prior to the proposed effective date of such change, have received a written opinion of Bond Counsel to the effect that such change will not adversely affect the exclusion of interest on any of the Series 1997-1 Notes from income for federal income tax purposes. The Market Agent shall deliver a written request for consent to such change in the length of the Auction Date to the Corporation Issuer not less than three days nor more than twenty (20) 20 days prior to the effective date of such changechange together with a certificate demonstrating the need for change in reliance on such factors. Notwithstanding any adjustments to Auction Periods that have been initiated or effected pursuant to Section 2.5.7 hereof, the Market Agent shall specify Auction Periods such that a Note Distribution Date for each Class of Series 1997-1 Notes shall occur in the months of January, April, July and October, commencing July 1997. The Market Agent shall provide notice of its determination to specify an earlier Auction Date for one or more Auction Periods by means of a written notice delivered at least ten (10) 10 days prior to the proposed changed Auction Date to the Indenture Trustee, the Auction Agent, the Corporation Issuer, the Rating Agencies and the Securities Depository. Such notice shall be substantially in the form of, or contain substantially the information contained in, Exhibit G F to this First Supplemental IndentureTerms Supplement. In connection with any change described in this Section 112.5.8, the Auction Agent shall provide such further notice to such parties as is specified in Section 2.5 of the Auction Agent Agreement.

Appears in 1 contract

Samples: Classnotes Inc

CHANGES IN THE AUCTION DATE. The Market Agentapplicable Broker-Dealer, with the --------------------------- written consent of an Authorized Officer of the Corporation and and, if applicable, upon receipt of the opinion of Bond Note Counsel as hereinafter requiredrequired below, may specify an earlier Auction Date (but in no event more than five (5) Business Days earlier) than the Auction Date that would otherwise be determined in accordance with the definition of "Auction Date" in Section 1 1.01 of this First Supplemental Indenture Appendix A with respect to one or more specified Auction Periods in order to conform with then current market practice with respect to similar securities or to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date and the Auction Rate Series 1997-1 Note Interest Rate interest rate borne by on the Auction Rate Series 1997-1 Notes. No such change in the Auction Date shall be effective unless the Corporation and the Trustee, prior to the proposed effective date of such change, have received a written opinion of Bond Counsel to the effect that such change will not adversely affect the exclusion of interest on any of the Series 1997The applicable Broker-1 Notes from income for federal income tax purposes. The Market Agent Dealer shall deliver a written request for consent to such change in the length of the Auction Date to the Corporation not less than three days nor more than twenty (20) Issuer at least 14 days prior to the effective date of such change. The Market Agent If the Issuer shall have delivered such written consent to the applicable Broker-Dealer, such Broker-Dealer shall provide notice of its determination to specify an earlier Auction Date for one or more Auction Periods by means of a written notice delivered at least ten (10) 10 days prior to the proposed changed Auction Date to the Trustee, the Auction Agent, the Corporation Issuer, each Rating Agency and the Securities Depository. Such notice shall be substantially in the form of, or contain substantially the information contained in, Exhibit G to this First Supplemental Indentureattached hereto. In connection with any change described in this Section 112.02(h), the Auction Agent shall provide such further notice to such parties as is specified in Section 2.5 2.03 of the Auction Agent Agreement.

Appears in 1 contract

Samples: Servicing Agreement (Nelnet Student Loan Corp- 2)

CHANGES IN THE AUCTION DATE. The Market Agent, with the --------------------------- written consent of an Authorized a Responsible Officer of the Corporation Representative, and upon receipt the written consent of the opinion of Bond Counsel as hereinafter requiredCertificate Insurer, may specify an earlier or later Auction Date (but in no event more than five (5) Business Days earlierearlier or later) than the Auction Date that would otherwise be determined in accordance with the definition of "Auction Date" in Section 1 Article I of this First Supplemental Indenture these Auction Procedures with respect to one or more specified Auction Periods in order to conform with then current market practice with respect to similar securities or to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date and the Class Remittance Rate borne on a Class of Auction Rate Series 1997-1 Note Interest Rate borne by the Auction Rate Series 1997-1 Notes. No such change in the Auction Date shall be effective unless the Corporation and the Trustee, prior to the proposed effective date of such change, have received a written opinion of Bond Counsel to the effect that such change will not adversely affect the exclusion of interest on any of the Series 1997-1 Notes from income for federal income tax purposesCertificates. The Market Agent shall deliver a written request for consent to such change in the Auction Date to the Corporation Representative and the Certificate Insurer not less than three days nor more than twenty (20) 20 days prior to the effective date of such changechange together with a certificate demonstrating the need for change in reliance on such factors. The Market Agent shall provide notice of its determination to specify an earlier Auction Date for one or more Auction Periods by means of a written notice delivered at least ten (10) 10 days prior to the proposed changed Auction Date to the Trustee, the Auction Agent, the Corporation Representative, the Rating Agencies, the Certificate Insurer and the Securities Depository. Such notice shall be substantially in the form of, or contain substantially the information contained in, Exhibit G Annex C to this First Supplemental Indenturethese Auction Procedures. In connection with any change described in this Section 112.1.7, the Auction Agent shall provide such further notice to such parties as is specified in Section 2.5 of the Auction Agent Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Contimortgage Home Equity Trust 1998-1)

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