Common use of The Auction Period Clause in Contracts

The Auction Period. Adjustment in Paragraph 1 shall take place only if (a) the Indenture Trustee and the Auction Agent receive, by 11:00 a.m., eastern time, on the Business Day before the Auction Date for the Auction Period commencing on the Effective Date, a certificate from the Issuer, as required by the Indenture authorizing the change in length of one or more Auction Periods and (b) Sufficient Bids exist on the Auction Date for the Auction Period commencing on the Effective Date.

Appears in 11 contracts

Samples: Indenture (SLM Student Loan Trust 2007-4), Indenture (SLM Student Loan Trust 2006-7), Administration Agreement (SLM Private Credit Student Loan Trust 2007-A)

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The Auction Period. Adjustment in Paragraph 1 shall take place only if (aA) the Indenture Trustee and the Auction Agent receive, by 11:00 a.m., eastern New York City time, on the Business Day before the Auction Date for the Auction Period commencing on the Effective Date, a certificate from the IssuerMarket Agent, as required by the First Supplemental Indenture authorizing the change in length of one or more Auction Periods and (bB) Sufficient Bids exist on the Auction Date for the Auction Period commencing on the Effective Date.

Appears in 3 contracts

Samples: Dealer Agreement (Education Loans Inc /De), Education Loans Inc /De, Education Loans Inc /De

The Auction Period. Adjustment in Paragraph 1 shall take place only if (a) the Indenture Trustee and the Auction Agent receive, by 11:00 a.m., eastern time, on the Business Day before the Auction Date for the Auction Period commencing on the Effective Date, a certificate from the Issuer, as required by the Indenture authorizing the change in length of one or more Auction Periods and (b) Sufficient Bids exist on the Auction Date for the Auction Period commencing on the Effective Date.

Appears in 3 contracts

Samples: Servicing Agreement (Union Financial Services I Inc), Indenture of Trust (Union Financial Services I Inc), Servicing Agreement (Nelnet Student Loan Corp- 2)

The Auction Period. Adjustment in Paragraph 1 shall take place only if (aA) the Indenture Trustee and the Auction Agent receive, by 11:00 a.m.A.M., eastern time, on the Business Day before the Auction Date for the Auction Period commencing on the Effective Date, a certificate from the IssuerCalculation Agent, as required by the Indenture authorizing the change in length of one or more Auction Periods and (bB) Sufficient Clearing Bids exist on the Auction Interest Determination Date for the Auction Period commencing on the Effective Date.

Appears in 2 contracts

Samples: Student Loan Funding LLC, Student Loan Funding LLC

The Auction Period. Adjustment in Paragraph 1 shall take place only if (aA) the Indenture Trustee and the Auction Agent receive, receive by 11:00 a.m., eastern time, on the Business Day before the Auction Date for the Auction Period commencing on the Effective Date, a certificate from the Issuer, Market Agent as required by the Indenture Third Terms Supplement authorizing the change in length of one or more Auction Periods and (bB) Sufficient Bids exist on the Auction Date for the Auction Period commencing on the Effective Date.

Appears in 1 contract

Samples: Trust Agreement (Emt Corp)

The Auction Period. Adjustment in Paragraph 1 shall take place only if (a) the Indenture Trustee and the Auction Agent receive, by 11:00 a.m., eastern time, on the Business Day before the Auction Date for the Auction Period commencing on the Effective Date, a certificate from the Issuer, as required by the Indenture authorizing the change in length of one or more Auction Periods Periods; and (b) Sufficient Bids exist on the Auction Date for the Auction Period commencing on the Effective Date.

Appears in 1 contract

Samples: Gmac Education Loan Funding Trust I

The Auction Period. Adjustment in Paragraph 1 shall take place only if (aA) the Indenture Trustee and the Auction Agent receive, by 11:00 a.m., eastern New York City time, on the Business Day before the Auction Date for the Auction Period commencing on the Effective Date, a certificate from the IssuerMarket Agent, as required by the Second Supplemental Indenture authorizing the change in length of one or more Auction Periods and (bB) Sufficient Bids exist on the Auction Date for the Auction Period commencing on the Effective Date.

Appears in 1 contract

Samples: Education Loans Inc /De

The Auction Period. Adjustment in Paragraph 1 shall take place only if (aA) the Indenture Trustee and the Auction Agent receive, by 11:00 a.m., eastern time, on the Business Day before the Auction Date for the Auction Period commencing on the Effective Date, a certificate from the IssuerMarket Agent, as required by the Indenture First Terms Supplement authorizing the change in length of one or more Auction Periods and (bB) Sufficient Bids exist on the Auction Date for the Auction Period commencing on the Effective Date.

Appears in 1 contract

Samples: Classnotes Inc

The Auction Period. Adjustment in Paragraph 1 shall take place only if (aA) the Indenture Trustee and the Auction Agent receive, by 11:00 a.m., eastern New York City time, on the Business Day before the Auction Date for the Auction Period commencing on the Effective Date, a certificate from the IssuerMarket Agent, as required by the Third Supplemental Indenture authorizing the change in length of one or more Auction Periods and (bB) Sufficient Bids exist on the Auction Date for the Auction Period commencing on the Effective Date.

Appears in 1 contract

Samples: Dealer Agreement (Education Loans Inc /De)

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The Auction Period. Adjustment in Paragraph 1 shall take place only if (aA) the Indenture Trustee and the Auction Agent receive, receive by 11:00 a.m., eastern time, on the Business Day before the Auction Date for the Auction Period commencing on the Effective Date, a certificate from the IssuerMarket Agent, as required by the Indenture First Terms Supplement authorizing the change in length of one or more Auction Periods and (bB) Sufficient Bids exist on the Auction Date for the Auction Period commencing on the Effective Date.

Appears in 1 contract

Samples: Trust Agreement (Emt Corp)

The Auction Period. Adjustment in Paragraph 1 shall take place only if (aA) the Indenture Trustee and the Auction Agent receive, by 11:00 a.m., eastern time, on the Business Day before the Auction Date for the Auction Period commencing on the Effective Date, a certificate from the IssuerMarket Agent, as required by the Indenture Fifth Terms Supplement authorizing the change in length of one or more Auction Periods and (bB) Sufficient Bids exist on the Auction Date for the Auction Period commencing on the Effective Date.

Appears in 1 contract

Samples: Trust Agreement (Emt Corp)

The Auction Period. Adjustment in Paragraph 1 shall take place only if (aA) the Indenture Trustee and the Auction Agent receivereceive by, by 11:00 a.m., eastern time, on the Business Day before the Auction Date for the Auction Period commencing on the Effective Date, a certificate from the IssuerMarket Agent, as required by the Indenture Second Terms Supplement authorizing the change in length of one or more Auction Periods and (bB) Sufficient Bids exist on the Auction Date for the Auction Period commencing on the Effective Date.

Appears in 1 contract

Samples: Trust Agreement (Emt Corp)

The Auction Period. Adjustment in Paragraph 1 shall take place only if (aA) the Indenture Trustee and the Auction Agent receive, by 11:00 a.m., eastern time, on the Business Day before the Auction Date for the Auction Period commencing on the Effective Date, a certificate from the IssuerMarket Agent, as required by the Indenture Fourth Terms Supplement authorizing the change in length of one or more Auction Periods and (bB) Sufficient Bids exist on the Auction Date for the Auction Period commencing on the Effective Date.

Appears in 1 contract

Samples: Fourth Terms Supplement (Emt Corp)

The Auction Period. Adjustment in Paragraph 1 shall take place only if (aA) the Indenture Trustee and the Auction Agent receive, by 11:00 a.m., eastern time, on the Business Day before the Auction Date for the Auction Period commencing on the Effective Date, a certificate from the IssuerMarket Agent, as required by the Indenture Sixth Terms Supplement authorizing the change in length of one or more Auction Periods and (bB) Sufficient Bids exist on the Auction Date for the Auction Period commencing on the Effective Date.

Appears in 1 contract

Samples: Trust Agreement (Emt Corp)

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