{"component": "clause", "props": {"groups": [{"snippet": "The Seller represents and warrants to the Purchaser as to the Purchased Loans purchased by the Purchaser or substituted by the Seller under the Initial Sale Agreement with respect to the Initial Loans, or each Additional Sale Agreement with respect to any Additional Loans or Substituted Loans, in each case executed pursuant to these Master Sale Terms that as of the date of the Initial Sale Agreement, as of the Statistical Cutoff Date, or as of the related Additional Sale Agreement, as applicable, or as of the date otherwise noted:\n(i) The Interim Eligible Lender Trustee for the benefit of the Seller has good and marketable title to, and is the sole owner of, the Purchased Loans, free and clear of all security interests, liens, charges, claims, offsets, defenses, counterclaims or encumbrances of any nature and no right of rescission, offsets, defenses, or counterclaims have been asserted or threatened with respect to those Loans;\n(ii) These Master Sale Terms create a valid and continuing security interest (as defined in the applicable UCC) in the Purchased Loans in favor of the Purchaser and the Eligible Lender Trustee on behalf of the Purchaser, which security interest is prior to all other security interests, liens, charges, claims, offsets, defenses, counterclaims or encumbrances, and is enforceable as such as against creditors of and purchasers from the Interim Eligible Lender Trustee and the Seller;\n(iii) The Purchased Loans constitute either \u201cPayment Intangibles\u201d or \u201cAccounts\u201d within the meaning of the applicable UCC and are within the coverage of Sections 432(m)(1)(E) and 439(d)(3) of the Higher Education Act;\n(iv) As of the Statistical Cutoff Date, in the case of the Initial Loans, or as of the related Subsequent Cutoff Date, in the case of any Additional Loan or Substituted Loan, the Purchased Loans are Eligible Loans and the description of such Loans set forth in the related Sale Agreement and the related Loan Transmittal Summary Form is true and correct;\n(v) The Interim Eligible Lender Trustee and the Seller are authorized to sell, assign, transfer, substitute and repurchase the Purchased Loans; and the sale, assignment and transfer of such Loans is or, in the case of a Loan repurchase or substitution by the Seller and or the Interim Eligible Lender Trustee, will be made pursuant to and consistent with the laws and regulations under which the Seller and the Interim Eligible Lender Trustee operate, and will not violate any decree, judgment or order of any court or agency, or conflict with or result in a breach of any of the terms, conditions or provisions of any agreement or instrument to which the Interim Eligible Lender Trustee or the Seller is a party or by which the Interim Eligible Lender Trustee or the Seller or its property is bound, or constitute a default (or an event which could constitute a default with the passage of time or notice or both) thereunder;\n(vi) The Purchased Loans are each in full force and effect in accordance with their terms and are legal, valid and binding obligations of the respective Borrowers thereunder subject to no defenses (except the defense of infancy);\n(vii) No consents or approvals are required by the terms of the Purchased Loans for the consummation of the sale of the Purchased Loans hereunder to the Interim Eligible Lender Trustee;\n(viii) Each Purchased Loan has been duly made and serviced in accordance with the provisions of the Federal Family Education Loan Program established under the Higher Education Act, and has been duly insured by a Guarantor; such guarantee is in full force and effect and is freely transferable to the Eligible Lender Trustee for the benefit of the Purchaser as an incident to the purchase of each Loan; and all premiums due and payable to such Guarantor shall have been paid in full as of the date of the related \u2587\u2587\u2587\u2587 of Sale;\n(ix) Any payments on the Purchased Loans received by the Interim Eligible Lender Trustee for the benefit of the Seller that have been allocated to the reduction of principal and interest on such Purchased Loans have been allocated on a simple interest basis; the information with respect to the Purchased Loans as of the related Cutoff Date as stated on the related Loan Transmittal Summary Form is true and correct;\n(x) Due diligence and reasonable care have been exercised in the making, administering, servicing and collecting on the Purchased Loans and, with respect to any Loan for which repayment terms have been established, all disclosures of information required to be made pursuant to the Higher Education Act have been made;\n(xi) All origination fees authorized to be collected pursuant to Section 438 of the Higher Education Act have been paid to the Secretary;\n(xii) Each Loan has been duly made and serviced in accordance with the provisions of all applicable federal and state laws;\n(xiii) No Loan is more than two hundred ten (210) days past due as of the Statistical Cutoff Date, with respect to the Initial Loans, and the Subsequent Cutoff Date, as to the Additional Loans or Substituted Loans, no default, breach, violation or event permitting acceleration under the terms of any Loan has arisen; and neither the Seller nor any predecessor holder of any Loan has waived any of the foregoing other than as permitted by the Basic Documents;\n(xiv) It is the intention of the Seller and the Seller hereby warrants, that the transfer and assignment herein contemplated constitute a valid sale of the Loans from the Seller and the Interim Eligible Lender Trustee to the Purchaser and the Eligible Lender Trustee for the benefit of the Purchaser and that the beneficial interest in and title to such Loans not be part of the Seller\u2019s estate in the event of the bankruptcy of the Seller or the appointment of a receiver with respect to the Seller;\n(xv) With respect to the first sale of Loans from the Interim Eligible Lender Trustee, on behalf of the Seller, to the Eligible Lender Trustee for the benefit of the Purchaser, the Seller has caused or will have caused, within ten days of the Closing Date, the filing of all appropriate financing statements in the proper filing office in the appropriate jurisdictions under applicable law in order to perfect the security interest in the Loans granted to the Purchaser and the Interim Eligible Lender Trustee hereunder;\n(xvi) Except for Purchased Loans executed electronically, there is only one original executed copy of the Note evidencing each Purchased Loan. For Purchased Loans that were executed electronically, either (i) the Servicer has possession of the electronic records evidencing the Note or (ii) the Seller has agreements with the previous holders or servicers of such Note under which the relevant holder or servicer agrees to hold and maintain the electronic records evidencing the Note, in each case as may be necessary to enforce the Note or as may be required by applicable e-sign laws. The Interim Eligible Lender Trustee has in its possession a copy of the endorsement and Loan Transmittal Summary Form identifying the Notes that constitute or evidence the Purchased Loans. The Notes that constitute or evidence the Purchased Loans do not have any marks or notations indicating that they have been pledged, assigned or otherwise conveyed to any Person other than the Interim Eligible Lender Trustee. All financing statements filed or to be filed against the Interim Eligible Lender Trustee and the Seller in favor of the Eligible Lender Trustee in connection herewith describing the Loans contain a statement to the following effect: \u201cA purchase of or security interest in any collateral described in this financing statement will violate the rights of the Eligible Lender Trustee;\u201d\n(xvii) Other than the security interest granted to the Purchaser and the Eligible Lender Trustee on behalf of the Purchaser pursuant to these Master Sale Terms, the Seller and the Interim Eligible Lender Trustee have not pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the Purchased Loans. The Seller and the Interim Eligible Lender Trustee have not authorized the filing of and are not aware of any financing statements against the Seller or the Interim Eligible Lender Trustee that include a description of collateral covering the Purchased Loans other than any financing statement relating to the security interest granted to the Purchaser and the Eligible Lender Trustee on behalf of the Purchaser hereunder or any other security interest that has been terminated. The Seller and the Interim Eligible Lender Trustee are not aware of any judgment or tax lien filings against the Seller or the Interim Eligible Lender Trustee; and\n(xviii) No Borrower of a Purchased Loan as of the related Cutoff Date is noted in the related Trust Student Loan File as being currently involved in a bankruptcy proceeding;\n(xix) With respect to all Additional Loans (other than with respect to the Substituted Loans), the Supplemental Purchase Period is in full force and effect; and\n(xx) No Loan with a Borrower who resides in New York City has a Borrower who has not made all payments then due and payable.", "size": 128, "snippet_links": [{"key": "by-the-purchaser", "type": "clause", "offset": [88, 104]}, {"key": "by-the-seller", "type": "clause", "offset": [120, 133]}, {"key": "initial-sale-agreement", "type": "definition", "offset": [144, 166]}, {"key": "with-respect-to", "type": "clause", "offset": [167, 182]}, {"key": "the-initial-loans", "type": "clause", "offset": [183, 200]}, {"key": "additional-sale-agreement", "type": "definition", "offset": [210, 235]}, {"key": "any-additional-loans", "type": "clause", "offset": [252, 272]}, {"key": "substituted-loans", "type": "definition", "offset": [276, 293]}, {"key": "each-case", "type": "definition", "offset": [298, 307]}, {"key": "these-master-sale-terms", "type": "clause", "offset": [329, 352]}, {"key": "date-of", "type": "clause", "offset": [368, 375]}, {"key": "statistical-cutoff-date", "type": "definition", "offset": [414, 437]}, {"key": "interim-eligible-lender-trustee", "type": "definition", "offset": [545, 576]}, {"key": "for-the-benefit-of", "type": "definition", "offset": [577, 595]}, {"key": "title-to", "type": "clause", "offset": [631, 639]}, {"key": "sole-owner", "type": "definition", "offset": [652, 662]}, {"key": "free-and-clear", "type": "clause", "offset": [688, 702]}, {"key": "no-right-of-rescission", "type": "clause", "offset": [821, 843]}, {"key": "valid-and-continuing-security-interest", "type": "clause", "offset": [981, 1019]}, {"key": "applicable-ucc", "type": "definition", "offset": [1039, 1053]}, {"key": "the-eligible-lender-trustee", "type": "definition", "offset": [1108, 1135]}, {"key": "on-behalf-of", "type": "clause", "offset": [1136, 1148]}, {"key": "prior-to", "type": "definition", "offset": [1191, 1199]}, {"key": "other-security-interests", "type": "clause", "offset": [1204, 1228]}, {"key": "payment-intangibles", "type": "definition", "offset": [1472, 1491]}, {"key": "meaning-of", "type": "clause", "offset": [1518, 1528]}, {"key": "coverage-of", "type": "clause", "offset": [1567, 1578]}, {"key": "higher-education-act", "type": "definition", "offset": [1622, 1642]}, {"key": "in-the-case", "type": "clause", "offset": [1684, 1695]}, {"key": "subsequent-cutoff-date", "type": "definition", "offset": [1739, 1761]}, {"key": "eligible-loans", "type": "clause", "offset": [1843, 1857]}, {"key": "the-description", "type": "clause", "offset": [1862, 1877]}, {"key": "loan-transmittal-summary-form", "type": "definition", "offset": [1948, 1977]}, {"key": "true-and-correct", "type": "clause", "offset": [1981, 1997]}, {"key": "to-sell", "type": "clause", "offset": [2069, 2076]}, {"key": "transfer-of", "type": "definition", "offset": [2172, 2183]}, {"key": "repurchase-or-substitution", "type": "clause", "offset": [2224, 2250]}, {"key": "made-pursuant-to", "type": "clause", "offset": [2317, 2333]}, {"key": "laws-and-regulations", "type": "definition", "offset": [2358, 2378]}, {"key": "the-seller-and-the", "type": "clause", "offset": [2391, 2409]}, {"key": "order-of", "type": "clause", "offset": [2496, 2504]}, {"key": "breach-of-any", "type": "clause", "offset": [2558, 2571]}, {"key": "the-terms", "type": "definition", "offset": [2575, 2584]}, {"key": "agreement-or", "type": "definition", "offset": [2618, 2630]}, {"key": "the-seller-is", "type": "clause", "offset": [2690, 2703]}, {"key": "a-party", "type": "clause", "offset": [2704, 2711]}, {"key": "a-default", "type": "definition", "offset": [2814, 2823]}, {"key": "an-event", "type": "clause", "offset": [2828, 2836]}, {"key": "passage-of-time", "type": "clause", "offset": [2879, 2894]}, {"key": "full-force-and-effect", "type": "definition", "offset": [2963, 2984]}, {"key": "in-accordance-with", "type": "definition", "offset": [2985, 3003]}, {"key": "terms-and", "type": "clause", "offset": [3010, 3019]}, {"key": "obligations-of-the", "type": "clause", "offset": [3049, 3067]}, {"key": "subject-to", "type": "definition", "offset": [3100, 3110]}, {"key": "no-defenses", "type": "clause", "offset": [3111, 3122]}, {"key": "no-consents-or-approvals", "type": "clause", "offset": [3162, 3186]}, {"key": "required-by", "type": "definition", "offset": [3191, 3202]}, {"key": "terms-of-the", "type": "clause", "offset": [3207, 3219]}, {"key": "sale-of-the", "type": "clause", "offset": [3264, 3275]}, {"key": "loans-hereunder", "type": "clause", "offset": [3286, 3301]}, {"key": "the-provisions-of-the", "type": "clause", "offset": [3420, 3441]}, {"key": "program-established", "type": "clause", "offset": [3472, 3491]}, {"key": "freely-transferable", "type": "clause", "offset": [3616, 3635]}, {"key": "incident-to", "type": "definition", "offset": [3706, 3717]}, {"key": "purchase-of", "type": "clause", "offset": [3722, 3733]}, {"key": "each-loan", "type": "clause", "offset": [3734, 3743]}, {"key": "payable-to", "type": "definition", "offset": [3770, 3780]}, {"key": "paid-in-full", "type": "clause", "offset": [3812, 3824]}, {"key": "received-by", "type": "definition", "offset": [3910, 3921]}, {"key": "allocated-to", "type": "definition", "offset": [4003, 4015]}, {"key": "interest-on", "type": "definition", "offset": [4047, 4058]}, {"key": "interest-basis", "type": "definition", "offset": [4112, 4126]}, {"key": "the-information", "type": "clause", "offset": [4128, 4143]}, {"key": "due-diligence", "type": "clause", "offset": [4290, 4303]}, {"key": "reasonable-care", "type": "clause", "offset": [4308, 4323]}, {"key": "any-loan", "type": "clause", "offset": [4443, 4451]}, {"key": "repayment-terms", "type": "clause", "offset": [4462, 4477]}, {"key": "information-required", "type": "clause", "offset": [4520, 4540]}, {"key": "pursuant-to-the", "type": "clause", "offset": [4552, 4567]}, {"key": "origination-fees", "type": "clause", "offset": [4614, 4630]}, {"key": "pursuant-to-section", "type": "definition", "offset": [4658, 4677]}, {"key": "the-secretary", "type": "clause", "offset": [4728, 4741]}, {"key": "applicable-federal-and-state-laws", "type": "clause", "offset": [4832, 4865]}, {"key": "no-loan", "type": "clause", "offset": [4874, 4881]}, {"key": "days-past-due", "type": "definition", "offset": [4917, 4930]}, {"key": "no-default", "type": "definition", "offset": [5082, 5092]}, {"key": "the-foregoing", "type": "definition", "offset": [5265, 5278]}, {"key": "basic-documents", "type": "clause", "offset": [5310, 5325]}, {"key": "intention-of-the-seller", "type": "clause", "offset": [5343, 5366]}, {"key": "transfer-and-assignment", "type": "definition", "offset": [5408, 5431]}, {"key": "valid-sale", "type": "clause", "offset": [5465, 5475]}, {"key": "the-loans", "type": "clause", "offset": [5479, 5488]}, {"key": "beneficial-interest", "type": "definition", "offset": [5640, 5659]}, {"key": "in-the-event-of", "type": "definition", "offset": [5722, 5737]}, {"key": "appointment-of-a-receiver", "type": "clause", "offset": [5774, 5799]}, {"key": "to-the-seller", "type": "definition", "offset": [5813, 5826]}, {"key": "sale-of-loans", "type": "clause", "offset": [5859, 5872]}, {"key": "ten-days", "type": "clause", "offset": [6055, 6063]}, {"key": "the-closing-date", "type": "clause", "offset": [6067, 6083]}, {"key": "financing-statements", "type": "clause", "offset": [6115, 6135]}, {"key": "filing-office", "type": "definition", "offset": [6150, 6163]}, {"key": "applicable-law", "type": "clause", "offset": [6203, 6217]}, {"key": "in-order-to", "type": "clause", "offset": [6218, 6229]}, {"key": "the-security-interest", "type": "definition", "offset": [6238, 6259]}, {"key": "granted-to", "type": "definition", "offset": [6273, 6283]}, {"key": "trustee-hereunder", "type": "clause", "offset": [6330, 6347]}, {"key": "except-for-purchased-loans", "type": "clause", "offset": [6355, 6381]}, {"key": "one-original", "type": "clause", "offset": [6421, 6433]}, {"key": "executed-copy", "type": "clause", "offset": [6434, 6447]}, {"key": "the-servicer", "type": "definition", "offset": [6558, 6570]}, {"key": "electronic-records", "type": "clause", "offset": [6593, 6611]}, {"key": "relevant-holder", "type": "definition", "offset": [6734, 6749]}, {"key": "agrees-to", "type": "clause", "offset": [6762, 6771]}, {"key": "a-copy-of-the", "type": "clause", "offset": [6994, 7007]}, {"key": "the-notes", "type": "clause", "offset": [7066, 7075]}, {"key": "any-person", "type": "definition", "offset": [7292, 7302]}, {"key": "in-connection", "type": "definition", "offset": [7496, 7509]}, {"key": "a-purchase", "type": "definition", "offset": [7586, 7596]}, {"key": "rights-of-the", "type": "clause", "offset": [7694, 7707]}, {"key": "security-interest-granted", "type": "clause", "offset": [7756, 7781]}, {"key": "description-of-collateral", "type": "definition", "offset": [8266, 8291]}, {"key": "relating-to", "type": "definition", "offset": [8356, 8367]}, {"key": "purchaser-hereunder", "type": "clause", "offset": [8464, 8483]}, {"key": "lien-filings", "type": "clause", "offset": [8629, 8641]}, {"key": "no-borrower", "type": "definition", "offset": [8713, 8724]}, {"key": "loan-file", "type": "definition", "offset": [8813, 8822]}, {"key": "bankruptcy-proceeding", "type": "definition", "offset": [8856, 8877]}, {"key": "supplemental-purchase-period", "type": "definition", "offset": [8978, 9006]}, {"key": "new-york-city", "type": "clause", "offset": [9084, 9097]}, {"key": "all-payments", "type": "clause", "offset": [9130, 9142]}], "samples": [{"hash": "hD3b7aOuWW1", "uri": "/contracts/hD3b7aOuWW1#particular", "label": "Sale Agreement (Navient Student Loan Trust 2014-1)", "score": 25.4052019165, "published": true}, {"hash": "hGUmnl8aNzx", "uri": "/contracts/hGUmnl8aNzx#particular", "label": "Sale Agreement (SLM Student Loan Trust 2014-2)", "score": 25.2327173169, "published": true}, {"hash": "5wkzjf1A48l", "uri": "/contracts/5wkzjf1A48l#particular", "label": "Sale Agreement (SLM Student Loan Trust 2014-1)", "score": 25.0739219713, "published": true}], "hash": "fb6c83202ca31285f8c3e99eb09d9e8e", "id": 1}, {"snippet": "\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587 represents and warrants to Funding as to the Loans purchased by Funding under each Purchase Agreement and each \u2587\u2587\u2587\u2587 of Sale executed pursuant these Master Terms that:\n(i) \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587 has good title to, and is the sole owner of, the Loans, free and clear of all security interests, liens, charges, claims, offsets, defenses, counterclaims or encumbrances of any nature and no right of rescission, offsets, defenses or counterclaims have been asserted or threatened with respect to the Loans;\n(ii) The Loans are Eligible Loans and the description of the Loans set forth in the Purchase Agreement is true and correct;\n(iii) \u2587\u2587\u2587\u2587\u2587\u2587 Mae is authorized to sell, assign, transfer and repurchase the Loans; and the sale, assignment and transfer of such Loans is or, in the case of a Loan repurchase by \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587, will be made pursuant to and consistent with the laws and regulations under which \u2587\u2587\u2587\u2587\u2587\u2587 Mae operates, and will not violate any decree, judgment or order of any court or agency, or conflict with or result in a breach of any of the terms, conditions or provisions of any agreement or instrument to which \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587 is a party or by which \u2587\u2587\u2587\u2587\u2587\u2587 Mae or its property is bound, or constitute a default (or an event which could constitute a default with the passage of time or notice or both) thereunder;\n(iv) The Loans are each in full force and effect in accordance with their terms and are legal, valid and binding obligations of the respective Borrowers thereunder subject to no defenses (except the defense of infancy);\n(v) Each Loan has been duly made and serviced in accordance with the provisions of the Federal Family Education Loan Program established under the Higher Education Act, and has been duly insured by a Guarantor; such guarantee is in full force and effect and is freely transferable to the Interim Eligible Lender Trustee on behalf of Funding as an incident to the purchase of each Loan; and all premiums due and payable to such Guarantor shall have been paid in full as of the date of the \u2587\u2587\u2587\u2587 of Sale;\n(vi) Any payments on the Loans received by \u2587\u2587\u2587\u2587\u2587\u2587 Mae which have been allocated to reduction of principal and interest on such Loans have been allocated on a simple interest basis; the information with respect to the Loans as of the Cutoff Date as stated on the Loan Transmittal Summary Form is true and correct;\n(vii) Due diligence and reasonable care have been exercised in the making, administering, servicing and collecting the Loans and, with respect to any Loan for which repayment terms have been established, all disclosures of information required to be made pursuant to the Higher Education Act have been made;\n(viii) All origination fees authorized to be collected pursuant to Section 438 of the Higher Education Act have been paid to the Secretary;\n(ix) Each Loan has been duly made and serviced in accordance with the provisions of all applicable federal and state laws;\n(x) No Loan is more than one hundred and twenty (120) days delinquent as of the Cutoff Date and no default, breach, violation or event permitting acceleration under the terms of any Loan has arisen; and neither \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587 nor any predecessor holder of any Loan has waived any of the foregoing other than as permitted by the Basic Documents;\n(xi) It is the intention of \u2587\u2587\u2587\u2587\u2587\u2587 Mae, the Interim Eligible Lender Trustee and Funding, and \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587 hereby warrants that, the transfer and assignment herein contemplated constitute a valid sale of the Loans from \u2587\u2587\u2587\u2587\u2587\u2587 Mae to the Interim Eligible Lender Trustee on behalf of Funding and that the beneficial interest in and title to such Loans not be part of \u2587\u2587\u2587\u2587\u2587\u2587 Mae's estate in the event of the bankruptcy of \u2587\u2587\u2587\u2587\u2587\u2587 Mae or the appointment of a receiver with respect to \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587;\n(xii) There is only one original executed copy of the promissory note evidencing each Loan; and\n(xiii) No Borrower of any Loan as of the Cutoff Date is noted in the related Loan File as being currently involved in a bankruptcy proceeding.", "size": 51, "snippet_links": [{"key": "to-funding", "type": "clause", "offset": [35, 45]}, {"key": "each-purchase", "type": "clause", "offset": [89, 102]}, {"key": "these-master-terms", "type": "clause", "offset": [153, 171]}, {"key": "title-to", "type": "clause", "offset": [202, 210]}, {"key": "sole-owner", "type": "definition", "offset": [223, 233]}, {"key": "free-and-clear", "type": "clause", "offset": [249, 263]}, {"key": "security-interests", "type": "clause", "offset": [271, 289]}, {"key": "no-right-of-rescission", "type": "clause", "offset": [382, 404]}, {"key": "eligible-loans", "type": "clause", "offset": [520, 534]}, {"key": "description-of-the-loans", "type": "clause", "offset": [543, 567]}, {"key": "the-purchase-agreement", "type": "clause", "offset": [581, 603]}, {"key": "true-and-correct", "type": "clause", "offset": [607, 623]}, {"key": "to-sell", "type": "clause", "offset": [656, 663]}, {"key": "transfer-and-repurchase", "type": "clause", "offset": [673, 696]}, {"key": "the-sale", "type": "clause", "offset": [712, 720]}, {"key": "transfer-of", "type": "definition", "offset": [737, 748]}, {"key": "in-the-case", "type": "clause", "offset": [767, 778]}, {"key": "loan-repurchase", "type": "clause", "offset": [784, 799]}, {"key": "made-pursuant-to", "type": "clause", "offset": [823, 839]}, {"key": "laws-and-regulations", "type": "definition", "offset": [864, 884]}, {"key": "order-of", "type": "clause", "offset": [963, 971]}, {"key": "breach-of-any", "type": "clause", "offset": [1025, 1038]}, {"key": "the-terms", "type": "definition", "offset": [1042, 1051]}, {"key": "agreement-or", "type": "definition", "offset": [1085, 1097]}, {"key": "a-party", "type": "clause", "offset": [1132, 1139]}, {"key": "a-default", "type": "definition", "offset": [1203, 1212]}, {"key": "an-event", "type": "clause", "offset": [1217, 1225]}, {"key": "passage-of-time", "type": "clause", "offset": [1268, 1283]}, {"key": "full-force-and-effect", "type": "definition", "offset": [1342, 1363]}, {"key": "in-accordance-with", "type": "definition", "offset": [1364, 1382]}, {"key": "terms-and", "type": "clause", "offset": [1389, 1398]}, {"key": "obligations-of-the", "type": "clause", "offset": [1428, 1446]}, {"key": "subject-to", "type": "definition", "offset": [1479, 1489]}, {"key": "no-defenses", "type": "clause", "offset": [1490, 1501]}, {"key": "each-loan", "type": "clause", "offset": [1539, 1548]}, {"key": "the-provisions-of-the", "type": "clause", "offset": [1600, 1621]}, {"key": "program-established", "type": "clause", "offset": [1652, 1671]}, {"key": "higher-education-act", "type": "definition", "offset": [1682, 1702]}, {"key": "freely-transferable", "type": "clause", "offset": [1796, 1815]}, {"key": "interim-eligible-lender-trustee", "type": "definition", "offset": [1823, 1854]}, {"key": "on-behalf-of", "type": "clause", "offset": [1855, 1867]}, {"key": "incident-to", "type": "definition", "offset": [1882, 1893]}, {"key": "purchase-of", "type": "clause", "offset": [1898, 1909]}, {"key": "payable-to", "type": "definition", "offset": [1946, 1956]}, {"key": "paid-in-full", "type": "clause", "offset": [1988, 2000]}, {"key": "date-of", "type": "clause", "offset": [2011, 2018]}, {"key": "the-\u2587", "type": "clause", "offset": [2019, 2024]}, {"key": "payments-on-the-loans", "type": "clause", "offset": [2046, 2067]}, {"key": "received-by", "type": "definition", "offset": [2068, 2079]}, {"key": "allocated-to", "type": "definition", "offset": [2107, 2119]}, {"key": "interest-on", "type": "definition", "offset": [2147, 2158]}, {"key": "interest-basis", "type": "definition", "offset": [2202, 2216]}, {"key": "the-information", "type": "clause", "offset": [2218, 2233]}, {"key": "cutoff-date", "type": "clause", "offset": [2270, 2281]}, {"key": "loan-transmittal-summary-form", "type": "definition", "offset": [2299, 2328]}, {"key": "due-diligence", "type": "clause", "offset": [2356, 2369]}, {"key": "reasonable-care", "type": "clause", "offset": [2374, 2389]}, {"key": "any-loan", "type": "clause", "offset": [2496, 2504]}, {"key": "repayment-terms", "type": "clause", "offset": [2515, 2530]}, {"key": "information-required", "type": "clause", "offset": [2573, 2593]}, {"key": "pursuant-to-the", "type": "clause", "offset": [2605, 2620]}, {"key": "origination-fees", "type": "clause", "offset": [2669, 2685]}, {"key": "pursuant-to-section", "type": "definition", "offset": [2713, 2732]}, {"key": "the-secretary", "type": "clause", "offset": [2783, 2796]}, {"key": "applicable-federal-and-state-laws", "type": "clause", "offset": [2886, 2919]}, {"key": "no-loan", "type": "clause", "offset": [2925, 2932]}, {"key": "days-delinquent", "type": "definition", "offset": [2975, 2990]}, {"key": "no-default", "type": "definition", "offset": [3017, 3027]}, {"key": "terms-of", "type": "definition", "offset": [3090, 3098]}, {"key": "neither-\u2587", "type": "clause", "offset": [3124, 3133]}, {"key": "the-foregoing", "type": "definition", "offset": [3200, 3213]}, {"key": "basic-documents", "type": "clause", "offset": [3245, 3260]}, {"key": "it-is-the-intention", "type": "clause", "offset": [3267, 3286]}, {"key": "and-funding", "type": "clause", "offset": [3338, 3349]}, {"key": "transfer-and-assignment", "type": "definition", "offset": [3392, 3415]}, {"key": "sale-of-the", "type": "clause", "offset": [3455, 3466]}, {"key": "beneficial-interest", "type": "definition", "offset": [3562, 3581]}, {"key": "in-the-event-of", "type": "definition", "offset": [3644, 3659]}, {"key": "appointment-of-a-receiver", "type": "clause", "offset": [3696, 3721]}, {"key": "with-respect-to-\u2587", "type": "clause", "offset": [3722, 3739]}, {"key": "one-original", "type": "clause", "offset": [3770, 3782]}, {"key": "executed-copy", "type": "clause", "offset": [3783, 3796]}, {"key": "the-promissory-note", "type": "clause", "offset": [3800, 3819]}, {"key": "no-borrower", "type": "definition", "offset": [3853, 3864]}, {"key": "loan-file", "type": "definition", "offset": [3923, 3932]}, {"key": "bankruptcy-proceeding", "type": "definition", "offset": [3966, 3987]}], "samples": [{"hash": "fynl10kPmEh", "uri": "/contracts/fynl10kPmEh#particular", "label": "Purchase Agreement (SLM Funding Corp)", "score": 18.0, "published": true}, {"hash": "fePeaZEWoMr", "uri": "/contracts/fePeaZEWoMr#particular", "label": "Purchase Agreement (SLM Funding Corp)", "score": 18.0, "published": true}, {"hash": "NmG0nowZd3", "uri": "/contracts/NmG0nowZd3#particular", "label": "Purchase Agreement (SLM Funding Corp)", "score": 18.0, "published": true}], "hash": "dccf2972d241e2892e1f49f28d3ab16e", "id": 2}, {"snippet": "\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587 represents and warrants to Funding as to the Loans purchased by Funding under each Purchase Agreement and each \u2587\u2587\u2587\u2587 of Sale executed pursuant these Master Terms that:\n(i) \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587 has good and marketable title to, and is the sole owner of, the Loans, free and clear of all security interests, liens, charges, claims, offsets, defenses, counterclaims or encumbrances of any nature and no right of rescission, offsets, defenses or counterclaims have been asserted or threatened with respect to the Loans;\n(ii) This Agreement creates a valid and continuing security interest (as defined in the applicable UCC) in the Loans in favor of the Eligible Lender Trustee, which security interest is prior to all other security interests, liens, charges, claims, offsets, defenses, counterclaims or encumbrances, and is enforceable as such as against creditors of and purchasers from the Interim Eligible Lender Trustee and the Seller;\n(iii) The Loans constitute \"instruments\" within the meaning of the applicable UCC and are within the coverage of Section 439(d)(3) of the Higher Education Act;\n(iv) The Loans are Eligible Loans and the description of the Loans set forth in the Purchase Agreement is true and correct;\n(v) \u2587\u2587\u2587\u2587\u2587\u2587 Mae is authorized to sell, assign, transfer and repurchase the Loans; and the sale, assignment and transfer of such Loans is or, in the case of a Loan repurchase by \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587, will be made pursuant to and consistent with the laws and regulations under which \u2587\u2587\u2587\u2587\u2587\u2587 Mae operates, and will not violate any decree, judgment or order of any court or agency, or conflict with or result in a breach of any of the terms, conditions or provisions of any agreement or instrument to which \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587 is a party or by which \u2587\u2587\u2587\u2587\u2587\u2587 Mae or its property is bound, or constitute a default (or an event which could constitute a default with the passage of time or notice or both) thereunder;\n(vi) The Loans are each in full force and effect in accordance with their terms and are legal, valid and binding obligations of the respective Borrowers thereunder subject to no defenses (except the defense of infancy);\n(vii) No consents and approvals are required by the terms of the Loans to the sale of the Loans hereunder to the Eligible Lender Trustee;\n(viii) Each Loan has been duly made and serviced in accordance with the provisions of the Federal Family Education Loan Program established under the Higher Education Act, and has been duly insured by a Guarantor; such guarantee is in full force and effect and is freely transferable to the Interim Eligible Lender Trustee on behalf of Funding as an incident to the purchase of each Loan; and all premiums due and payable to such Guarantor shall have been paid in full as of the date of the \u2587\u2587\u2587\u2587 of Sale;\n(ix) Any payments on the Loans received by \u2587\u2587\u2587\u2587\u2587\u2587 Mae which have been allocated to reduction of principal and interest on such Loans have been allocated on a simple interest basis; the information with respect to the Loans as of the Cutoff Date as stated on the Loan Transmittal Summary Form is true and correct;\n(x) Due diligence and reasonable care have been exercised in the making, administering, servicing and collecting the Loans and, with respect to any Loan for which repayment terms have been established, all disclosures of information required to be made pursuant to the Higher Education Act have been made;\n(xi) All origination fees authorized to be collected pursuant to Section 438 of the Higher Education Act have been paid to the Secretary;\n(xii) Each Loan has been duly made and serviced in accordance with the provisions of all applicable federal and state laws;\n(xiii) No Loan is more than one hundred and twenty (120) days delinquent as of the Cutoff Date and no default, breach, violation or event permitting acceleration under the terms of any Loan has arisen; and neither \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587 nor any predecessor holder of any Loan has waived any of the foregoing other than as permitted by the Basic Documents;\n(xiv) It is the intention of \u2587\u2587\u2587\u2587\u2587\u2587 Mae, the Interim Eligible Lender Trustee and Funding, and \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587 hereby warrants that, the transfer and assignment herein contemplated constitute a valid sale of the Loans from \u2587\u2587\u2587\u2587\u2587\u2587 Mae to the Interim Eligible Lender Trustee on behalf of Funding and that the beneficial interest in and title to such Loans not be part of \u2587\u2587\u2587\u2587\u2587\u2587 Mae's estate in the event of the bankruptcy of \u2587\u2587\u2587\u2587\u2587\u2587 Mae or the appointment of a receiver with respect to \u2587\u2587\u2587\u2587\u2587\u2587 Mae;\n(xv) The Eligible Lender Trustee and the Seller have caused or will have caused, within ten days, the filing of all appropriate financing statements in the proper filing office in the appropriate jurisdictions under applicable law in order to perfect the security interest in the Loans granted to the Eligible Lender Trustee hereunder;\n(xvi) There is only one original executed copy of the promissory note evidencing each Loan. The Eligible Lender Trustee has in its possession a copy of the endorsement and Loan Transmittal Summary Form identifying the Notes that constitute or evidence the Loans. The Notes that constitute or evidence the Loans do not have any marks or notations indicating that they have been pledged, assigned or otherwise conveyed to any Person other than the Eligible Lender Trustee. All financing statements filed or to be filed against the Interim Eligible Lender Trustee and the Seller in favor of the Eligible Lender Trustee in connection herewith describing the Loans contain a statement to the following effect: \"A purchase of or security interest in any collateral described in this financing statement will violate the rights of the Eligible Lender Trustee;\"\n(xvii) Other than the security interest granted to the Eligible Lender Trustee pursuant to this Agreement, the Seller and the Interim Eligible Lender Trustee have not pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the Loans. The Seller and the Interim Eligible Lender Trustee have not authorized the filing of and are not aware of any financing statements against the Seller or the Interim Eligible Lender Trustee that include a description of collateral covering the Loans other than any financing statement relating to the security interest granted to the Eligible Lender Trustee hereunder or that has been terminated. The Seller and the Interim Eligible Lender Trustee are not aware of any judgment or tax lien filings against the Seller or the Interim Eligible Lender Trustee; and\n(xviii) No Borrower of any Loan as of the Cutoff Date is noted in the related Loan File as being currently involved in a bankruptcy proceeding.", "size": 15, "snippet_links": [{"key": "to-funding", "type": "clause", "offset": [35, 45]}, {"key": "each-purchase", "type": "clause", "offset": [89, 102]}, {"key": "these-master-terms", "type": "clause", "offset": [153, 171]}, {"key": "title-to", "type": "clause", "offset": [217, 225]}, {"key": "sole-owner", "type": "definition", "offset": [238, 248]}, {"key": "free-and-clear", "type": "clause", "offset": [264, 278]}, {"key": "no-right-of-rescission", "type": "clause", "offset": [397, 419]}, {"key": "valid-and-continuing-security-interest", "type": "clause", "offset": [546, 584]}, {"key": "applicable-ucc", "type": "definition", "offset": [604, 618]}, {"key": "in-favor-of", "type": "clause", "offset": [633, 644]}, {"key": "the-eligible-lender-trustee", "type": "definition", "offset": [645, 672]}, {"key": "prior-to", "type": "definition", "offset": [701, 709]}, {"key": "other-security-interests", "type": "clause", "offset": [714, 738]}, {"key": "interim-eligible-lender-trustee", "type": "definition", "offset": [889, 920]}, {"key": "meaning-of", "type": "clause", "offset": [989, 999]}, {"key": "coverage-of", "type": "clause", "offset": [1038, 1049]}, {"key": "higher-education-act", "type": "definition", "offset": [1075, 1095]}, {"key": "eligible-loans", "type": "clause", "offset": [1116, 1130]}, {"key": "description-of-the-loans", "type": "clause", "offset": [1139, 1163]}, {"key": "the-purchase-agreement", "type": "clause", "offset": [1177, 1199]}, {"key": "true-and-correct", "type": "clause", "offset": [1203, 1219]}, {"key": "to-sell", "type": "clause", "offset": [1250, 1257]}, {"key": "transfer-and-repurchase", "type": "clause", "offset": [1267, 1290]}, {"key": "the-sale", "type": "clause", "offset": [1306, 1314]}, {"key": "transfer-of", "type": "definition", "offset": [1331, 1342]}, {"key": "in-the-case", "type": "clause", "offset": [1361, 1372]}, {"key": "loan-repurchase", "type": "clause", "offset": [1378, 1393]}, {"key": "made-pursuant-to", "type": "clause", "offset": [1417, 1433]}, {"key": "laws-and-regulations", "type": "definition", "offset": [1458, 1478]}, {"key": "order-of", "type": "clause", "offset": [1557, 1565]}, {"key": "breach-of-any", "type": "clause", "offset": [1619, 1632]}, {"key": "the-terms", "type": "definition", "offset": [1636, 1645]}, {"key": "agreement-or", "type": "definition", "offset": [1679, 1691]}, {"key": "a-party", "type": "clause", "offset": [1726, 1733]}, {"key": "a-default", "type": "definition", "offset": [1797, 1806]}, {"key": "an-event", "type": "clause", "offset": [1811, 1819]}, {"key": "passage-of-time", "type": "clause", "offset": [1862, 1877]}, {"key": "full-force-and-effect", "type": "definition", "offset": [1936, 1957]}, {"key": "in-accordance-with", "type": "definition", "offset": [1958, 1976]}, {"key": "terms-and", "type": "clause", "offset": [1983, 1992]}, {"key": "obligations-of-the", "type": "clause", "offset": [2022, 2040]}, {"key": "subject-to", "type": "definition", "offset": [2073, 2083]}, {"key": "no-defenses", "type": "clause", "offset": [2084, 2095]}, {"key": "no-consents-and-approvals", "type": "clause", "offset": [2135, 2160]}, {"key": "required-by", "type": "definition", "offset": [2165, 2176]}, {"key": "loans-to", "type": "clause", "offset": [2194, 2202]}, {"key": "sale-of-the", "type": "clause", "offset": [2207, 2218]}, {"key": "loans-hereunder", "type": "clause", "offset": [2219, 2234]}, {"key": "each-loan", "type": "clause", "offset": [2274, 2283]}, {"key": "the-provisions-of-the", "type": "clause", "offset": [2335, 2356]}, {"key": "program-established", "type": "clause", "offset": [2387, 2406]}, {"key": "freely-transferable", "type": "clause", "offset": [2531, 2550]}, {"key": "on-behalf-of", "type": "clause", "offset": [2590, 2602]}, {"key": "incident-to", "type": "definition", "offset": [2617, 2628]}, {"key": "purchase-of", "type": "clause", "offset": [2633, 2644]}, {"key": "payable-to", "type": "definition", "offset": [2681, 2691]}, {"key": "paid-in-full", "type": "clause", "offset": [2723, 2735]}, {"key": "date-of", "type": "clause", "offset": [2746, 2753]}, {"key": "the-\u2587", "type": "clause", "offset": [2754, 2759]}, {"key": "payments-on-the-loans", "type": "clause", "offset": [2781, 2802]}, {"key": "received-by", "type": "definition", "offset": [2803, 2814]}, {"key": "allocated-to", "type": "definition", "offset": [2842, 2854]}, {"key": "interest-on", "type": "definition", "offset": [2882, 2893]}, {"key": "interest-basis", "type": "definition", "offset": [2937, 2951]}, {"key": "the-information", "type": "clause", "offset": [2953, 2968]}, {"key": "cutoff-date", "type": "clause", "offset": [3005, 3016]}, {"key": "loan-transmittal-summary-form", "type": "definition", "offset": [3034, 3063]}, {"key": "due-diligence", "type": "clause", "offset": [3089, 3102]}, {"key": "reasonable-care", "type": "clause", "offset": [3107, 3122]}, {"key": "any-loan", "type": "clause", "offset": [3229, 3237]}, {"key": "repayment-terms", "type": "clause", "offset": [3248, 3263]}, {"key": "information-required", "type": "clause", "offset": [3306, 3326]}, {"key": "pursuant-to-the", "type": "clause", "offset": [3338, 3353]}, {"key": "origination-fees", "type": "clause", "offset": [3400, 3416]}, {"key": "pursuant-to-section", "type": "definition", "offset": [3444, 3463]}, {"key": "the-secretary", "type": "clause", "offset": [3514, 3527]}, {"key": "applicable-federal-and-state-laws", "type": "clause", "offset": [3618, 3651]}, {"key": "no-loan", "type": "clause", "offset": [3660, 3667]}, {"key": "days-delinquent", "type": "definition", "offset": [3710, 3725]}, {"key": "no-default", "type": "definition", "offset": [3752, 3762]}, {"key": "neither-\u2587", "type": "clause", "offset": [3859, 3868]}, {"key": "the-foregoing", "type": "definition", "offset": [3935, 3948]}, {"key": "basic-documents", "type": "clause", "offset": [3980, 3995]}, {"key": "it-is-the-intention", "type": "clause", "offset": [4003, 4022]}, {"key": "and-funding", "type": "clause", "offset": [4074, 4085]}, {"key": "transfer-and-assignment", "type": "definition", "offset": [4128, 4151]}, {"key": "valid-sale", "type": "clause", "offset": [4185, 4195]}, {"key": "beneficial-interest", "type": "definition", "offset": [4298, 4317]}, {"key": "in-the-event-of", "type": "definition", "offset": [4380, 4395]}, {"key": "appointment-of-a-receiver", "type": "clause", "offset": [4432, 4457]}, {"key": "with-respect-to-\u2587", "type": "clause", "offset": [4458, 4475]}, {"key": "ten-days", "type": "clause", "offset": [4574, 4582]}, {"key": "financing-statements", "type": "clause", "offset": [4614, 4634]}, {"key": "filing-office", "type": "definition", "offset": [4649, 4662]}, {"key": "applicable-law", "type": "clause", "offset": [4702, 4716]}, {"key": "in-order-to", "type": "clause", "offset": [4717, 4728]}, {"key": "the-security-interest", "type": "definition", "offset": [4737, 4758]}, {"key": "granted-to", "type": "definition", "offset": [4772, 4782]}, {"key": "trustee-hereunder", "type": "clause", "offset": [4803, 4820]}, {"key": "one-original", "type": "clause", "offset": [4842, 4854]}, {"key": "executed-copy", "type": "clause", "offset": [4855, 4868]}, {"key": "the-promissory-note", "type": "clause", "offset": [4872, 4891]}, {"key": "a-copy-of-the", "type": "clause", "offset": [4964, 4977]}, {"key": "the-notes", "type": "clause", "offset": [5036, 5045]}, {"key": "any-person", "type": "definition", "offset": [5242, 5252]}, {"key": "in-connection", "type": "definition", "offset": [5438, 5451]}, {"key": "a-purchase", "type": "definition", "offset": [5528, 5538]}, {"key": "rights-of-the", "type": "clause", "offset": [5636, 5649]}, {"key": "security-interest-granted", "type": "clause", "offset": [5698, 5723]}, {"key": "pursuant-to-this-agreement", "type": "clause", "offset": [5755, 5781]}, {"key": "the-seller-and-the", "type": "clause", "offset": [5783, 5801]}, {"key": "description-of-collateral", "type": "definition", "offset": [6144, 6169]}, {"key": "relating-to", "type": "definition", "offset": [6224, 6235]}, {"key": "lien-filings", "type": "clause", "offset": [6424, 6436]}, {"key": "no-borrower", "type": "definition", "offset": [6508, 6519]}, {"key": "loan-file", "type": "definition", "offset": [6578, 6587]}, {"key": "bankruptcy-proceeding", "type": "definition", "offset": [6621, 6642]}], "samples": [{"hash": "gwLtSxP9lkB", "uri": "/contracts/gwLtSxP9lkB#particular", "label": "Purchase Agreement (SLM Funding Corp)", "score": 18.0, "published": true}, {"hash": "gUA4nPVzMR8", "uri": "/contracts/gUA4nPVzMR8#particular", "label": "Purchase Agreement (SLM Funding Corp)", "score": 18.0, "published": true}], "hash": "459a55a6002162739a1bab33cb859da8", "id": 3}, {"snippet": "The Seller represents and warrants to the Purchaser as to the Purchased Loans purchased by the Purchaser or substituted by the Seller under the Initial Sale Agreement with respect to the Initial Loans, or each Additional Sale Agreement with respect to any Additional Loans or Substituted Loans, in each case executed pursuant to these Master Sale Terms that as of the date of the Initial Sale Agreement, as of the Statistical Cutoff Date, or as of the related Additional Sale Agreement, as applicable, or as of the date otherwise noted:\n(i) The Interim Eligible Lender Trustee for the benefit of the Seller has good and marketable title to, and is the sole owner of, the Purchased Loans, free and clear of all security interests, liens, charges, claims, offsets, defenses, counterclaims or encumbrances of any nature and no right of rescission, offsets, defenses, or counterclaims have been asserted or threatened with respect to those Loans;", "size": 6, "snippet_links": [{"key": "purchased-loans", "type": "definition", "offset": [62, 77]}, {"key": "by-the-purchaser", "type": "clause", "offset": [88, 104]}, {"key": "by-the-seller", "type": "clause", "offset": [120, 133]}, {"key": "initial-sale-agreement", "type": "definition", "offset": [144, 166]}, {"key": "with-respect-to", "type": "clause", "offset": [167, 182]}, {"key": "the-initial-loans", "type": "clause", "offset": [183, 200]}, {"key": "additional-sale-agreement", "type": "definition", "offset": [210, 235]}, {"key": "any-additional-loans", "type": "clause", "offset": [252, 272]}, {"key": "substituted-loans", "type": "definition", "offset": [276, 293]}, {"key": "each-case", "type": "definition", "offset": [298, 307]}, {"key": "pursuant-to", "type": "definition", "offset": [317, 328]}, {"key": "these-master-sale-terms", "type": "clause", "offset": [329, 352]}, {"key": "date-of", "type": "clause", "offset": [368, 375]}, {"key": "statistical-cutoff-date", "type": "definition", "offset": [414, 437]}, {"key": "interim-eligible-lender-trustee", "type": "definition", "offset": [545, 576]}, {"key": "of-the-seller", "type": "clause", "offset": [593, 606]}, {"key": "title-to", "type": "clause", "offset": [631, 639]}, {"key": "sole-owner", "type": "definition", "offset": [652, 662]}, {"key": "free-and-clear", "type": "clause", "offset": [688, 702]}, {"key": "security-interests", "type": "clause", "offset": [710, 728]}, {"key": "no-right-of-rescission", "type": "clause", "offset": [821, 843]}], "samples": [{"hash": "5J7MlOaDjzF", "uri": "/contracts/5J7MlOaDjzF#particular", "label": "Sale Agreement (SLM Student Loan Trust 2013-3)", "score": 24.4661190965, "published": true}, {"hash": "lrKAxbRAlo9", "uri": "/contracts/lrKAxbRAlo9#particular", "label": "Sale Agreement (Navient Student Loan Trust 2015-3)", "score": 24.4592744695, "published": true}, {"hash": "iEdGfsgoJqa", "uri": "/contracts/iEdGfsgoJqa#particular", "label": "Sale Agreement (Navient Student Loan Trust 2015-2)", "score": 24.3059548255, "published": true}], "hash": "2c4fe32ba4b0352b1a3f377093a8d9cc", "id": 4}, {"snippet": "\u2587\u2587\u2587\u2587\u2587\u2587 Mae represents and warrants to Funding as to the Loans purchased by Funding under each Purchase Agreement and each \u2587\u2587\u2587\u2587 of Sale executed pursuant these Master Terms that:\n(i) \u2587\u2587\u2587\u2587\u2587\u2587 Mae has good title to, and is the sole owner of, the Loans, free and clear of all security interests, liens, charges, claims, offsets, defenses, counterclaims or encumbrances of any nature and no right of rescission, offsets, defenses or counterclaims have been asserted or threatened with respect to the Loans;\n(ii) The Loans are Eligible Loans and the description of the Loans set forth in the Purchase Agreement is true and correct;\n(iii) \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587 is authorized to sell, assign, transfer and repurchase the Loans; and the sale, assignment and transfer of such Loans is or, in the case of a Loan repurchase by \u2587\u2587\u2587\u2587\u2587\u2587 Mae, will be made pursuant to and consistent with the laws and regulations under which \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587 operates, and will not violate any decree, judgment or order of any court or agency, or conflict with or result in a breach of any of the terms, conditions or provisions of any agreement or instrument to which \u2587\u2587\u2587\u2587\u2587\u2587 Mae is a party or by which \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587 or its property is bound, or constitute a default (or an event which could constitute a default with the passage of time or notice or both) thereunder;\n(iv) The Loans are each in full force and effect in accordance with their terms and are legal, valid and binding obligations of the respective Borrowers thereunder subject to no defenses (except the defense of infancy);\n(v) Each Loan has been duly made and serviced in accordance with the provisions of the Federal Family Education Loan Program established under the Higher Education Act, and has been duly insured by a Guarantor; such guarantee is in full force and effect and is freely transferable to the Interim Eligible Lender Trustee on behalf of Funding as an incident to the purchase of each Loan; and all premiums due and payable to such Guarantor shall have been paid in full as of the date of the \u2587\u2587\u2587\u2587 of Sale;\n(vi) Any payments on the Loans received by \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587 which have been allocated to reduction of principal and interest on such Loans have been allocated on a simple interest basis; the information with respect to the Loans as of the Cutoff Date as stated on the Loan Transmittal Summary Form is true and correct;\n(vii) Due diligence and reasonable care have been exercised in the making, administering, servicing and collecting the Loans and, with respect to any Loan for which repayment terms have been established, all disclosures of information required to be made pursuant to the Higher Education Act have been made;\n(viii) All origination fees authorized to be collected pursuant to Section 438 of the Higher Education Act have been paid to the Secretary;\n(ix) Each Loan has been duly made and serviced in accordance with the provisions of all applicable federal and state laws;\n(x) No Loan is more than ninety (90) days delinquent as of the Cutoff Date and no default, breach, violation or event permitting acceleration under the terms of any Loan has arisen; and neither \u2587\u2587\u2587\u2587\u2587\u2587 Mae nor any predecessor holder of any Loan has waived any of the foregoing other than as permitted by the Basic Documents;\n(xi) It is the intention of \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587, the Interim Eligible Lender Trustee and Funding, and \u2587\u2587\u2587\u2587\u2587\u2587 Mae hereby warrants that, the transfer and assignment herein contemplated constitute a valid sale of the Loans from \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587 to the Interim Eligible Lender Trustee on behalf of Funding and that the beneficial interest in and title to such Loans not be part of \u2587\u2587\u2587\u2587\u2587\u2587 Mae's estate in the event of the bankruptcy of \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587 or the appointment of a receiver with respect to \u2587\u2587\u2587\u2587\u2587\u2587 Mae;\n(xii) There is only one original executed copy of the promissory note evidencing each Loan; and\n(xiii) No Borrower of any Loan as of the Cutoff Date is noted in the related Loan File as being currently involved in a bankruptcy proceeding.", "size": 6, "snippet_links": [{"key": "to-funding", "type": "clause", "offset": [35, 45]}, {"key": "each-purchase", "type": "clause", "offset": [89, 102]}, {"key": "these-master-terms", "type": "clause", "offset": [153, 171]}, {"key": "title-to", "type": "clause", "offset": [202, 210]}, {"key": "sole-owner", "type": "definition", "offset": [223, 233]}, {"key": "free-and-clear", "type": "clause", "offset": [249, 263]}, {"key": "security-interests", "type": "clause", "offset": [271, 289]}, {"key": "no-right-of-rescission", "type": "clause", "offset": [382, 404]}, {"key": "eligible-loans", "type": "clause", "offset": [520, 534]}, {"key": "description-of-the-loans", "type": "clause", "offset": [543, 567]}, {"key": "the-purchase-agreement", "type": "clause", "offset": [581, 603]}, {"key": "true-and-correct", "type": "clause", "offset": [607, 623]}, {"key": "to-sell", "type": "clause", "offset": [656, 663]}, {"key": "transfer-and-repurchase", "type": "clause", "offset": [673, 696]}, {"key": "the-sale", "type": "clause", "offset": [712, 720]}, {"key": "transfer-of", "type": "definition", "offset": [737, 748]}, {"key": "in-the-case", "type": "clause", "offset": [767, 778]}, {"key": "loan-repurchase", "type": "clause", "offset": [784, 799]}, {"key": "made-pursuant-to", "type": "clause", "offset": [823, 839]}, {"key": "laws-and-regulations", "type": "definition", "offset": [864, 884]}, {"key": "order-of", "type": "clause", "offset": [963, 971]}, {"key": "breach-of-any", "type": "clause", "offset": [1025, 1038]}, {"key": "the-terms", "type": "definition", "offset": [1042, 1051]}, {"key": "agreement-or", "type": "definition", "offset": [1085, 1097]}, {"key": "a-party", "type": "clause", "offset": [1132, 1139]}, {"key": "a-default", "type": "definition", "offset": [1203, 1212]}, {"key": "an-event", "type": "clause", "offset": [1217, 1225]}, {"key": "passage-of-time", "type": "clause", "offset": [1268, 1283]}, {"key": "full-force-and-effect", "type": "definition", "offset": [1342, 1363]}, {"key": "in-accordance-with", "type": "definition", "offset": [1364, 1382]}, {"key": "terms-and", "type": "clause", "offset": [1389, 1398]}, {"key": "obligations-of-the", "type": "clause", "offset": [1428, 1446]}, {"key": "subject-to", "type": "definition", "offset": [1479, 1489]}, {"key": "no-defenses", "type": "clause", "offset": [1490, 1501]}, {"key": "each-loan", "type": "clause", "offset": [1539, 1548]}, {"key": "the-provisions-of-the", "type": "clause", "offset": [1600, 1621]}, {"key": "program-established", "type": "clause", "offset": [1652, 1671]}, {"key": "higher-education-act", "type": "definition", "offset": [1682, 1702]}, {"key": "freely-transferable", "type": "clause", "offset": [1796, 1815]}, {"key": "interim-eligible-lender-trustee", "type": "definition", "offset": [1823, 1854]}, {"key": "on-behalf-of", "type": "clause", "offset": [1855, 1867]}, {"key": "incident-to", "type": "definition", "offset": [1882, 1893]}, {"key": "purchase-of", "type": "clause", "offset": [1898, 1909]}, {"key": "payable-to", "type": "definition", "offset": [1946, 1956]}, {"key": "paid-in-full", "type": "clause", "offset": [1988, 2000]}, {"key": "date-of", "type": "clause", "offset": [2011, 2018]}, {"key": "the-\u2587", "type": "clause", "offset": [2019, 2024]}, {"key": "payments-on-the-loans", "type": "clause", "offset": [2046, 2067]}, {"key": "received-by", "type": "definition", "offset": [2068, 2079]}, {"key": "allocated-to", "type": "definition", "offset": [2107, 2119]}, {"key": "interest-on", "type": "definition", "offset": [2147, 2158]}, {"key": "interest-basis", "type": "definition", "offset": [2202, 2216]}, {"key": "the-information", "type": "clause", "offset": [2218, 2233]}, {"key": "cutoff-date", "type": "clause", "offset": [2270, 2281]}, {"key": "loan-transmittal-summary-form", "type": "definition", "offset": [2299, 2328]}, {"key": "due-diligence", "type": "clause", "offset": [2356, 2369]}, {"key": "reasonable-care", "type": "clause", "offset": [2374, 2389]}, {"key": "any-loan", "type": "clause", "offset": [2496, 2504]}, {"key": "repayment-terms", "type": "clause", "offset": [2515, 2530]}, {"key": "information-required", "type": "clause", "offset": [2573, 2593]}, {"key": "pursuant-to-the", "type": "clause", "offset": [2605, 2620]}, {"key": "origination-fees", "type": "clause", "offset": [2669, 2685]}, {"key": "pursuant-to-section", "type": "definition", "offset": [2713, 2732]}, {"key": "the-secretary", "type": "clause", "offset": [2783, 2796]}, {"key": "applicable-federal-and-state-laws", "type": "clause", "offset": [2886, 2919]}, {"key": "no-loan", "type": "clause", "offset": [2925, 2932]}, {"key": "days-delinquent", "type": "definition", "offset": [2958, 2973]}, {"key": "no-default", "type": "definition", "offset": [3000, 3010]}, {"key": "terms-of", "type": "definition", "offset": [3073, 3081]}, {"key": "neither-\u2587", "type": "clause", "offset": [3107, 3116]}, {"key": "the-foregoing", "type": "definition", "offset": [3183, 3196]}, {"key": "basic-documents", "type": "clause", "offset": [3228, 3243]}, {"key": "it-is-the-intention", "type": "clause", "offset": [3250, 3269]}, {"key": "and-funding", "type": "clause", "offset": [3321, 3332]}, {"key": "transfer-and-assignment", "type": "definition", "offset": [3375, 3398]}, {"key": "sale-of-the", "type": "clause", "offset": [3438, 3449]}, {"key": "beneficial-interest", "type": "definition", "offset": [3545, 3564]}, {"key": "in-the-event-of", "type": "definition", "offset": [3627, 3642]}, {"key": "appointment-of-a-receiver", "type": "clause", "offset": [3679, 3704]}, {"key": "with-respect-to-\u2587", "type": "clause", "offset": [3705, 3722]}, {"key": "one-original", "type": "clause", "offset": [3753, 3765]}, {"key": "executed-copy", "type": "clause", "offset": [3766, 3779]}, {"key": "the-promissory-note", "type": "clause", "offset": [3783, 3802]}, {"key": "no-borrower", "type": "definition", "offset": [3836, 3847]}, {"key": "loan-file", "type": "definition", "offset": [3906, 3915]}, {"key": "bankruptcy-proceeding", "type": "definition", "offset": [3949, 3970]}], "samples": [{"hash": "22PUHJpm0Ts", "uri": "/contracts/22PUHJpm0Ts#particular", "label": "Purchase Agreement (SLM Funding Corp)", "score": 18.0, "published": true}], "hash": "531661b2ade94f994d7680971c30bf6b", "id": 5}, {"snippet": "SPECIFICATIONS In addition to the general specifications prescribed in paragraph 5., the protective device shall comply with the particular conditions prescribed below:", "size": 3, "snippet_links": [{"key": "general-specifications", "type": "clause", "offset": [34, 56]}, {"key": "paragraph-5", "type": "clause", "offset": [71, 82]}, {"key": "protective-device", "type": "definition", "offset": [89, 106]}, {"key": "comply-with-the", "type": "clause", "offset": [113, 128]}, {"key": "particular-conditions", "type": "definition", "offset": [129, 150]}], "samples": [{"hash": "4vSE4VGIVDV", "uri": "/contracts/4vSE4VGIVDV#particular", "label": "Agreement Concerning the Adoption of Uniform Technical Prescriptions for Wheeled Vehicles", "score": 27.3832991102, "published": true}, {"hash": "6C16KcFOhvX", "uri": "/contracts/6C16KcFOhvX#particular", "label": "Agreement Concerning the Adoption of Uniform Technical Prescriptions for Wheeled Vehicles", "score": 21.0, "published": true}], "hash": "e9146a2a4dd55278d98147d2c2feef3e", "id": 6}, {"snippet": "(a) Salient features of the Equipment provision as to manufacture, furnishing, finish etc. shall be highlighted with reference to the material input and operational supremacy.\n(b) Necessary working drawings showing the general arrangements of the equipment etc. shall be furnished. The drawing shall also detail out all items/components, which shall have to be provided by other agencies such as the Main Contractor for Civil and Associated works or the Electrical Contractor during the execution of the main work/installation.\n(c) The materials and workmanship of the Lifts and its installations shall be guaranteed and the guarantee shall cover making good of any defects, not due to any ordinary wear and tear or improper use and care, which may develop within One year from the date of handing over of installations duly tested and commissioned. Test certificates of the material used on site for the installation and operation of the lift shall be submitted.\n(d) The lift installations shall be maintained for a period of three months commencing from the date, the Elevator equipment are taken over to use and the maintenance shall include periodical lubrication of the equipment and adjustment thereof, if any, under supervision and direction of Competent Personnel and replacement of parts that become necessary due to normal wear and tear during the guarantee period. All Operation / Maintenance shall be performed during regular hours of regular working days.\n(e) The Lift service particular and General Specification/Condition appended shall be adhered to in all respects, except for specific changes contemplated otherwise in the offer.\n(f) The equipment supplied and erected shall be in accordance to IS-4666/1968, 1860/1968 & 1980, 3534/1979, I.S. 4591-1968. (Re-affirmed \u2013 1991).\n(g) The local statutory Lift Rules for Lift Control as applicable shall be complied with, no extra payment shall be considered either due to escalation or amendments / modifications to local Act / Rules issued during the contract period.\n(h) Bidder / Contractor in co-ordination with client shall be responsible to obtain necessary License from the Electrical / Lift Inspectorate of Government of Bhutan for installation / operation of Lifts before handing over of the installation(s) by taking timely action in submission of prescribed application form therefor along with documents like completion drawing etc., duly making payment of required statutory fees / charges in the manner specified by the Inspectorate on behalf of the Procuring agency and further follow up action. Payment for this special service shall be made on Lump sum basis as covered in the Schedule of quantities for both Lift installations separately.", "size": 2, "snippet_links": [{"key": "the-equipment", "type": "definition", "offset": [24, 37]}, {"key": "to-manufacture", "type": "definition", "offset": [51, 65]}, {"key": "with-reference-to", "type": "clause", "offset": [112, 129]}, {"key": "working-drawings", "type": "definition", "offset": [190, 206]}, {"key": "general-arrangements", "type": "clause", "offset": [219, 239]}, {"key": "all-items", "type": "definition", "offset": [316, 325]}, {"key": "other-agencies", "type": "clause", "offset": [373, 387]}, {"key": "main-contractor", "type": "definition", "offset": [400, 415]}, {"key": "electrical-contractor", "type": "definition", "offset": [454, 475]}, {"key": "the-execution", "type": "clause", "offset": [483, 496]}, {"key": "materials-and-workmanship", "type": "clause", "offset": [536, 561]}, {"key": "be-guaranteed", "type": "clause", "offset": [603, 616]}, {"key": "the-guarantee", "type": "clause", "offset": [621, 634]}, {"key": "making-good", "type": "definition", "offset": [647, 658]}, {"key": "ordinary-wear-and-tear", "type": "definition", "offset": [690, 712]}, {"key": "use-and-care", "type": "clause", "offset": [725, 737]}, {"key": "within-one-year", "type": "definition", "offset": [757, 772]}, {"key": "date-of", "type": "clause", "offset": [782, 789]}, {"key": "handing-over", "type": "definition", "offset": [790, 802]}, {"key": "test-certificates", "type": "clause", "offset": [850, 867]}, {"key": "site-for", "type": "clause", "offset": [892, 900]}, {"key": "operation-of-the", "type": "clause", "offset": [922, 938]}, {"key": "period-of", "type": "definition", "offset": [1017, 1026]}, {"key": "commencing-from", "type": "clause", "offset": [1040, 1055]}, {"key": "the-maintenance", "type": "clause", "offset": [1115, 1130]}, {"key": "supervision-and-direction", "type": "definition", "offset": [1223, 1248]}, {"key": "competent-personnel", "type": "definition", "offset": [1252, 1271]}, {"key": "replacement-of-parts", "type": "clause", "offset": [1276, 1296]}, {"key": "normal-wear-and-tear", "type": "clause", "offset": [1326, 1346]}, {"key": "guarantee-period", "type": "definition", "offset": [1358, 1374]}, {"key": "hours-of", "type": "clause", "offset": [1438, 1446]}, {"key": "working-days", "type": "clause", "offset": [1455, 1467]}, {"key": "general-specification", "type": "clause", "offset": [1505, 1526]}, {"key": "in-all-respects", "type": "clause", "offset": [1566, 1581]}, {"key": "specific-changes", "type": "clause", "offset": [1594, 1610]}, {"key": "the-offer", "type": "clause", "offset": [1637, 1646]}, {"key": "equipment-supplied", "type": "clause", "offset": [1656, 1674]}, {"key": "in-accordance", "type": "definition", "offset": [1696, 1709]}, {"key": "extra-payment", "type": "definition", "offset": [1887, 1900]}, {"key": "modifications-to", "type": "clause", "offset": [1962, 1978]}, {"key": "local-act", "type": "definition", "offset": [1979, 1988]}, {"key": "during-the-contract-period", "type": "clause", "offset": [2004, 2030]}, {"key": "client-shall", "type": "clause", "offset": [2078, 2090]}, {"key": "responsible-to", "type": "clause", "offset": [2094, 2108]}, {"key": "necessary-license", "type": "definition", "offset": [2116, 2133]}, {"key": "timely-action", "type": "clause", "offset": [2289, 2302]}, {"key": "submission-of", "type": "clause", "offset": [2306, 2319]}, {"key": "prescribed-application-form", "type": "definition", "offset": [2320, 2347]}, {"key": "payment-of", "type": "definition", "offset": [2420, 2430]}, {"key": "statutory-fees", "type": "definition", "offset": [2440, 2454]}, {"key": "on-behalf-of", "type": "clause", "offset": [2509, 2521]}, {"key": "the-procuring-agency", "type": "definition", "offset": [2522, 2542]}, {"key": "payment-for", "type": "clause", "offset": [2573, 2584]}, {"key": "special-service", "type": "clause", "offset": [2590, 2605]}, {"key": "lump-sum-basis", "type": "clause", "offset": [2623, 2637]}, {"key": "the-schedule-of-quantities", "type": "definition", "offset": [2652, 2678]}], "samples": [{"hash": "7eW5wwPX8uz", "uri": "/contracts/7eW5wwPX8uz#particular", "label": "Tender Agreement", "score": 33.3273819145, "published": true}, {"hash": "8unN06XagMb", "uri": "/contracts/8unN06XagMb#particular", "label": "Tender Agreement", "score": 33.2677063348, "published": true}], "hash": "f657646feb7c0efa9f9656a8285d78c1", "id": 7}, {"snippet": "Without limiting the general responsibilities set out in 2.1, particular roles and responsibilities shall be to:\n(a) ensure and advise on the preparation of the AONB Management Plan and advise on its adoption and review by the necessary local authorities;\n(b) ensure and regularly monitor development and implementation of the Management Plan and AONB Unit performance, and to ensure that it receives reports for this purpose;\n(c) plan future activity and expenditure by, or on behalf of, the AONB Unit, and monitor spending, as set out in a Business Plan to be agreed annually by the Executive Committee;\n(d) ensure the publication of an Annual Report for the AONB, explaining progress made against the Management Plan;\n(e) in accordance with protocol ensure and provide for the giving of timely advice to local planning authorities on agreed categories of planning application;\n(f) ensure and provide for the giving of timely advice to other public bodies, agencies, statutory undertakers and other bodies and individuals concerning the impact of their activities on the AONB;\n(g) set up such working groups and advisory groups (both of which may include non- members of the Executive Committee) as are necessary or desirable to fulfil effectively the Committee\u2019s purposes;\n(h) set up a Technical Officers Group, which will ensure external support for and review of the work of the AONB Unit on an ongoing basis, and will operate in accordance 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