Common use of Payments Limited to Reserve Fund Clause in Contracts

Payments Limited to Reserve Fund. The aggregate liability of Michigan SAVES to Lender shall not under any circumstances exceed the Lender's Reserve Fund Balance. The Lender does not have any additional recourse against Michigan SAVES for Eligible Losses in excess of the Lender's Reserve Fund Balance at the time. The Lender acknowledges and agrees that its losses on Program Loans may exceed the funds available in the Lender's Reserve Fund Balance. This Agreement is not a guarantee of the full amount of Program Loans. Except as explicitly provided in this Agreement, Michigan SAVES is under no obligation to further contribute to or supplement the Lender's Reserve Fund Balance.

Payments Limited to Reserve Fund. The aggregate liability of Michigan SAVES to Lender shall not under any circumstances exceed the LenderXxxxxx's Reserve Fund Balance. The Lender does not have any additional recourse against Michigan SAVES for Eligible Losses in excess of the Lender's Reserve Fund Balance at the time. The Lender acknowledges and agrees that its losses on Program Loans may exceed the funds available in the Lender's Reserve Fund Balance. This Agreement is not a guarantee of the full amount of Program Loans. Except as explicitly provided in this Agreement, Michigan SAVES is under no obligation to further contribute to or supplement the Lender's Reserve Fund Balance.

Payments Limited to Reserve Fund. The aggregate liability of Michigan SAVES Saves to Lender shall not under any circumstances exceed the LenderXxxxxx's Reserve Fund Balance. The Lender does not have any additional recourse against Michigan SAVES Saves for Eligible Losses in excess of the Lender's Reserve Fund Balance at the time. The Lender acknowledges and agrees that its losses on Program Loans may exceed the funds available in the Lender's Reserve Fund Balance. This Agreement is not a guarantee of the full amount of Program Loans. Except as explicitly provided in this Agreement, Michigan SAVES Saves is under no obligation to further contribute to or supplement the Lender's Reserve Fund Balance.

Payments Limited to Reserve Fund. The aggregate liability of Michigan SAVES Saves to Lender shall not under any circumstances exceed the Lender's Reserve Fund Balance. The Lender does not have any additional recourse against Michigan SAVES Saves for Eligible Losses in excess of the Lender's Reserve Fund Balance at the time. The Lender acknowledges and agrees that its losses on Program Loans may exceed the funds available in the Lender's Reserve Fund Balance. This Agreement is not a guarantee of the full amount of Program Loans. Except as explicitly provided in this Agreement, Michigan SAVES Saves is under no obligation to further contribute to or supplement the Lender's Reserve Fund Balance.