Payment Defaults. (a) The Auction Agent shall deliver a copy of any notice received by it from the Trustee to the effect that a Payment Default has occurred to the Broker-Dealers on the Business Day following its receipt thereof by telecopy or other similar means.
Appears in 3 contracts
Samples: Auction Agent Agreement (Pheaa Student Loan Trust I), Auction Agency Agreement (SLC Student Loan Receivables I Inc), Auction Agency Agreement (Pheaa Student Loan Foundation Inc)
Payment Defaults. (a) The Auction Agent shall deliver a copy of any notice received by it from the Trustee Fund to the effect that the Fund failed to pay a Payment Default has occurred dividend to the Broker-Dealers on the Business Day following its of the receipt thereof or as soon as practicable thereafter by telecopy or other similar meansElectronic Means.
Appears in 2 contracts
Samples: Auction Agreement (Cohen & Steers Global Income Builder, Inc), Auction Agreement (Advent/Claymore Global Convertible Securities & Income Fund)
Payment Defaults. (a) The Auction Agent shall deliver a copy of any notice received by it from the Trustee to the effect that a Payment Default payment default on the Bonds has occurred to the Broker-Dealers on the Business Day following its of the receipt thereof or as soon as practicable thereafter by telecopy or other similar meansElectronic Means.
Appears in 2 contracts
Samples: Auction Agreement (National Collegiate Student Loan Trust 2007-4), Auction Agreement (National Collegiate Student Loan Trust 2007-3)
Payment Defaults. (a) The Auction Agent shall deliver a copy of any notice received by it from the Trustee to the effect that a Payment Default has occurred to the Broker-Dealers on the Business Day following its of the receipt thereof or as soon as practicable thereafter by telecopy or other similar means.
Appears in 1 contract
Payment Defaults. (a) The Auction Agent shall deliver a copy of any notice received by it from the Indenture Trustee to the effect that a Payment Default has occurred to the Broker-Dealers on the Business Day following its receipt thereof by telecopy or other similar means.
Appears in 1 contract
Samples: Auction Agent Agreement (SLM Student Loan Trust 2006-7)
Payment Defaults. (a) The a)The Auction Agent shall deliver a copy of any notice received by it from the Trustee to the effect that a Payment Default payment default on the Bonds has occurred to the Broker-Dealers on the Business Day following its of the receipt thereof or as soon as practicable thereafter by telecopy or other similar meansElectronic Means.
Appears in 1 contract
Samples: Auction Agreement
