Failure of FMC to Securitize. In the event that: (a) FMC fails to specify a Purchase Date and to consummate a Securitization Transaction with respect to a Pool of Seasoned Loans [**], and (b) Program Lender subsequently sells such a Pool in a transaction that, if it had been conducted by a Purchaser Trust, would constitute a Securitization Transaction, THEN FMC will reimburse Program Lender for [**]. For purposes only of this Section 2.06, the following terms have the following meanings: [**]
Appears in 4 contracts
Samples: Note Purchase Agreement, Note Purchase Agreement (National Collegiate Funding LLC), Note Purchase Agreement (National Collegiate Funding LLC)
Failure of FMC to Securitize. In the event that: (a) FMC fails to specify a Purchase Date and to consummate a Securitization Transaction with respect to a Pool of Seasoned Loans [**], and (b) Program Lender subsequently sells such a Pool in a transaction that, if it had been conducted by a Purchaser Trust, would constitute a Securitization Transaction, THEN FMC will reimburse Program Lender for [**]. For purposes only of this Section 2.062.05, the following terms have the following meanings: [**].
Appears in 2 contracts
Samples: Note Purchase Agreement (First Marblehead Corp), Note Purchase Agreement (National Collegiate Student Loan Trust 2007-3)
