Common use of Eligible Lender Clause in Contracts

Eligible Lender. The Eligible Lender Trustee, on behalf of the Seller, has applied for and received the Secretary of Education's or a Guarantee Agency's designation as an "Eligible Lender" under the Higher Education Act, and the Eligible Lender Trustee, on behalf of the Seller, has entered into all agreements required to be entered into for participation in the Federal Family Education Loan Program under the Higher Education Act.

Eligible Lender. The Eligible Lender Trustee, on behalf of the Seller, has applied for and received the Secretary of Education's or a Guarantee Agency's designation as an "Eligible Lender" under the Higher Education Act, and the Eligible Lender Trustee, on behalf of the Seller, has entered into all agreements required to be entered into for participation in the Federal Family Education Loan Program under the Higher Education Act.