Common use of Eligible Lender Trustee Clause in Contracts

Eligible Lender Trustee. The Eligible Lender Trustee is hereby authorized and directed to execute and deliver, not in its individual capacity, but solely as Eligible Lender Trustee on behalf of the Trust, the Remarketing Agreement, any Swap Agreements, and all Remarketing Agency Agreements as the Administrator, in writing and from time to time, shall instruct the Eligible Lender Trustee. The Eligible Lender Trustee shall not be liable to any party, any third party or any Noteholder for any such actions taken at the written instruction of the Administrator. Notwithstanding the foregoing, in the event that the Eligible Lender Trustee declines or fails to execute or deliver any such document, instrument, certificate or agreement as instructed by the Administrator, the Administrator is hereby authorized, in its sole discretion, to execute and deliver, not in its individual capacity but solely as Administrator on behalf of the Trust, all such required documents, instruments, certificates and agreements. The foregoing authorization shall represent a limited power of attorney granted by the Trust to the Administrator to act on its behalf and the Administrator shall not be liable to any party, any third party or any Noteholder for any such actions taken in good faith and in accordance with these Reset Rate Note Procedures. XXXXXXXX X-0 TO INDENTURE TRANSFER RESTRICTIONS FOR THE RESET RATE NOTES

Appears in 2 contracts

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

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Eligible Lender Trustee. The Eligible Lender Trustee is hereby authorized and directed to execute and deliver, not in its individual capacity, but solely as Eligible Lender Trustee on behalf of the Trust, the Remarketing Agreement, any Swap Agreements (including the Initial Currency Swap Agreements) and any required supplement, amendment or replacement thereof, and all Remarketing Agency Agreements and Supplemental Remarketing Agency Agreements as the Administrator, in writing and from time to time, shall instruct the Eligible Lender TrusteeTrustee to execute. The Eligible Lender Trustee shall not be liable to any party, any third party or any Noteholder for any such actions taken at the written instruction of the Administrator. Notwithstanding the foregoing, in the event that the Eligible Lender Trustee declines or fails to execute or deliver any such document, instrument, certificate or agreement as instructed by the Administrator, the Administrator is hereby authorized, in its sole discretion, to execute and deliver, not in its individual capacity but solely as Administrator on behalf of the Trust, all such required documents, instruments, certificates and agreements. The foregoing authorization shall represent a limited power of attorney granted by the Trust to the Administrator to act on its behalf behalf, and the Administrator shall not be liable to any party, any third party or any Noteholder for any such actions taken in good faith and in accordance with these Reset Rate Note Procedures. XXXXXXXX X-0 TO INDENTURE TRANSFER RESTRICTIONS FOR THE RESET RATE NOTES

Appears in 2 contracts

Samples: Indenture (SLM Funding LLC), Indenture (SLM Funding LLC)

Eligible Lender Trustee. The Eligible Lender Trustee is hereby authorized and directed to execute and deliver, not in its individual capacity, but solely as Eligible Lender Trustee on behalf of the Trust, the Remarketing Agreement, any Swap AgreementsAgreements (including the Initial Class A-6 Currency Swap Agreement) and any required supplement, amendment or replacement thereof, and all Remarketing Agency Agreements and Supplemental Remarketing Agency Agreements as the Administrator, in writing and from time to time, shall instruct the Eligible Lender TrusteeTrustee to execute. The Eligible Lender Trustee shall not be liable to any party, any third party or any Noteholder for any such actions taken at the written instruction of the Administrator. Notwithstanding the foregoing, in the event that the Eligible Lender Trustee declines or fails to execute or deliver any such document, instrument, certificate or agreement as instructed by the Administrator, the Administrator is hereby authorized, in its sole discretion, to execute and deliver, not in its individual capacity but solely as Administrator on behalf of the Trust, all such required documents, instruments, certificates and agreements. The foregoing authorization shall represent a limited power of attorney granted by the Trust to the Administrator to act on its behalf behalf, and the Administrator shall not be liable to any party, any third party or any Noteholder for any such actions taken in good faith and in accordance with these Reset Rate Note Procedures. XXXXXXXX X-0 TO INDENTURE APPENDIX A-3 TRANSFER RESTRICTIONS FOR THE RESET RATE NOTES

Appears in 1 contract

Samples: Indenture (SLM Funding LLC)

Eligible Lender Trustee. The Eligible Lender Trustee is hereby authorized and directed to execute and deliver, not in its individual capacity, but solely as Eligible Lender Trustee on behalf of the Trust, the Remarketing Agreement, any Swap AgreementsAgreements (including the Initial Interest Rate Swap Agreement), and all Remarketing Agency Agreements and Supplemental Remarketing Agency Agreements as the Administrator, in writing and from time to time, shall instruct the Eligible Lender TrusteeTrustee to execute. The Eligible Lender Trustee shall not be liable to any party, any third party or any Noteholder for any such actions taken at the written instruction of the Administrator. Notwithstanding the foregoing, in the event that the Eligible Lender Trustee declines or fails to execute or deliver any such document, instrument, certificate or agreement as instructed by the Administrator, the Administrator is hereby authorized, in its sole discretion, to execute and deliver, not in its individual capacity but solely as Administrator on behalf of the Trust, all such required documents, instruments, certificates and agreements. The foregoing authorization shall represent a limited power of attorney granted by the Trust to the Administrator to act on its behalf behalf, and the Administrator shall not be liable to any party, any third party or any Noteholder for any such actions taken in good faith and in accordance with these Reset Rate Note Procedures. XXXXXXXX X-0 TO INDENTURE APPENDIX A-3 TRANSFER RESTRICTIONS FOR THE RESET RATE NOTES

Appears in 1 contract

Samples: Indenture (SLM Funding LLC)

Eligible Lender Trustee. The Eligible Lender Trustee is hereby authorized and directed to execute and deliver, not in its individual capacity, but solely as Eligible Lender Trustee on behalf of the Trust, the Remarketing Agreement, any Swap Agreements, and all Remarketing Agency Agreements and Supplemental Remarketing Agency Agreements as the Administrator, in writing and from time to time, shall instruct the Eligible Lender TrusteeTrustee to execute. The Eligible Lender Trustee shall not be liable to any party, any third party or any Noteholder for any such actions taken at the written instruction of the Administrator. Notwithstanding the foregoing, in the event that the Eligible Lender Trustee declines or fails to execute or deliver any such document, instrument, certificate or agreement as instructed by the Administrator, the Administrator is hereby authorized, in its sole discretion, to execute and deliver, not in its individual capacity but solely as Administrator on behalf of the Trust, all such required documents, instruments, certificates and agreements. The foregoing authorization shall represent a limited power of attorney granted by the Trust to the Administrator to act on its behalf behalf, and the Administrator shall not be liable to any party, any third party or any Noteholder for any such actions taken in good faith and in accordance with these Reset Rate Note Procedures. XXXXXXXX X-0 TO INDENTURE APPENDIX A-3 TRANSFER RESTRICTIONS FOR THE RESET RATE NOTES

Appears in 1 contract

Samples: Indenture (SLM Funding LLC)

Eligible Lender Trustee. The Eligible Lender Trustee is hereby authorized and directed to execute and deliver, not in its individual capacity, but solely as Eligible Lender Trustee on behalf of the Trust, the Remarketing Agreement, any Swap Agreements, and all Remarketing Agency Agreements as the Administrator, in writing and from time to time, shall instruct the Eligible Lender TrusteeTrustee to execute. The Eligible Lender Trustee shall not be liable to any party, any third party or any Noteholder for any such actions taken at the written instruction of the Administrator. Notwithstanding the foregoing, in the event that the Eligible Lender Trustee declines or fails to execute or deliver any such document, instrument, certificate or agreement as instructed by the Administrator, the Administrator is hereby authorized, in its sole discretion, to execute and deliver, not in its individual capacity but solely as Administrator on behalf of the Trust, all such required documents, instruments, certificates and agreements. The foregoing authorization shall represent a limited power of attorney granted by the Trust to the Administrator to act on its behalf and the Administrator shall not be liable to any party, any third party or any Noteholder for any such actions taken in good faith and in accordance with these Reset Rate Note Procedures. XXXXXXXX X-0 TO INDENTURE TRANSFER RESTRICTIONS FOR THE RESET RATE NOTES

Appears in 1 contract

Samples: Administration Agreement (SLM Funding LLC)

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Eligible Lender Trustee. The Eligible Lender Trustee is hereby authorized and directed to execute and deliver, not in its individual capacity, but solely as Eligible Lender Trustee on behalf of the Trust, the Remarketing Agreement, any Swap Agreements (including the Initial Currency Swap Agreements) and any required supplement, amendment or replacement thereof, and all Remarketing Agency Agreements and Supplemental Remarketing Agency Agreements as the Administrator, in writing and from time to time, shall instruct the Eligible Lender TrusteeTrustee to execute. The Eligible Lender Trustee shall not be liable to any party, any third party or any Noteholder for any such actions taken at the written instruction of the Administrator. Notwithstanding the foregoing, in the event that the Eligible Lender Trustee declines or fails to execute or deliver any such document, instrument, certificate or agreement as instructed by the Administrator, the Administrator is hereby authorized, in its sole discretion, to execute and deliver, not in its individual capacity but solely as Administrator on behalf of the Trust, all such required documents, instruments, certificates and agreements. The foregoing authorization shall represent a limited power of attorney granted by the Trust to the Administrator to act on its behalf behalf, and the Administrator shall not be liable to any party, any third party or any Noteholder for any such actions taken in good faith and in accordance with these Reset Rate Note Procedures. XXXXXXXX X-0 TO INDENTURE APPENDIX A-3 TRANSFER RESTRICTIONS FOR THE RESET RATE NOTES

Appears in 1 contract

Samples: Indenture (SLM Funding LLC)

Eligible Lender Trustee. The Eligible Lender Trustee is hereby authorized and directed to execute and deliver, not in its individual capacity, but solely as Eligible Lender Trustee on behalf of the Trust, the Remarketing Agreement, any Swap Agreements, and all Remarketing Agency Agreements as the Administrator, in writing and from time to time, shall instruct the Eligible Lender TrusteeTrustee to execute. The Eligible Lender Trustee shall not be liable to any party, any third party or any Noteholder for any such actions taken at the written instruction of the Administrator. Notwithstanding the foregoing, in the event that the Eligible Lender Trustee declines or fails to execute or deliver any such document, instrument, certificate or agreement as instructed by the Administrator, the Administrator is hereby authorized, in its sole discretion, to execute and deliver, not in its individual capacity but solely as Administrator on behalf of the Trust, all such required documents, instruments, certificates and agreements. The foregoing authorization shall represent a limited power of attorney granted by the Trust to the Administrator to act on its behalf and the Administrator shall not be liable to any party, any third party or any Noteholder for any such actions taken in good faith and in accordance with these Reset Rate Note Procedures. XXXXXXXX X-0 TO INDENTURE TRANSFER RESTRICTIONS FOR THE RESET RATE NOTES

Appears in 1 contract

Samples: Administration Agreement (SLM Funding LLC)

Eligible Lender Trustee. The Eligible Lender Trustee is hereby authorized and directed to execute and deliver, not in its individual capacity, but solely as Eligible Lender Trustee on behalf of the Trust, the Remarketing Agreement, any Swap Agreements, and all Remarketing Agency Agreements and Supplemental Remarketing Agency Agreements as the Administrator, in writing and from time to time, shall instruct the Eligible Lender TrusteeTrustee to execute. The Eligible Lender Trustee shall not be liable to any party, any third party or any Noteholder for any such actions taken at the written instruction of the Administrator. Notwithstanding the foregoing, in the event that the Eligible Lender Trustee declines or fails to execute or deliver any such document, instrument, certificate or agreement as instructed by the Administrator, the Administrator is hereby authorized, in its sole discretion, to execute and deliver, not in its individual capacity but solely as Administrator on behalf of the Trust, all such required documents, instruments, certificates and agreements. The foregoing authorization shall represent a limited power of attorney granted by the Trust to the Administrator to act on its behalf behalf, and the Administrator shall not be liable to any party, any third party or any Noteholder for any such actions taken in good faith and in accordance with these Reset Rate Note Procedures. XXXXXXXX X-0 TO INDENTURE TRANSFER RESTRICTIONS FOR THE RESET RATE NOTES

Appears in 1 contract

Samples: Administration Agreement (SLM Funding LLC)

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