Alternative Loan Program definition

Alternative Loan Program means each program for the making of Student Loans other than FFELP Loans that is identified in a Supplemental Indenture as a program the Alternative Loans under which are eligible to be Financed under this Indenture.

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Alternative Loan Program means each of the following programs for the making of Student Loans other than FFELP Loans the Alternative Loans under which are eligible to be Financed under the Indenture: (i) the Great Opportunities Academic Loan and Great Opportunities Academic Loan II Programs offered by U.S. Bank National Association; (ii) the Choice Loan, Pathway, Partner and MEFC Loan Programs offered by Marquette Bank, N.A.; (iii) the Quest Loan, Independence and BrainBucks Loan Programs offered by Surety Loan Funding Company; (iv) the AFG, the AFG Pathway and the AFG Select Programs offered by Provincial Bank; (v) the Bremer Education Loan and the Bremer Education Loan II Programs offered by ▇▇▇▇▇▇ Bank N.A.; and (vi) such other programs upon receipt by the Trustee of written notice thereof by an Authorized Officer of the Corporation and confirmation from each Rating Agency that financing of loans under such programs under the Indenture will not cause the withdrawal or downgrade of any rating of any series of Notes any of which are Outstanding.

Alternative Loan Program means each of the following programs for the making of Student Loans other than FFELP Loans the Alternative Loans under which are eligible to be Financed under the Indenture: (i) the Great Opportunities Academic Loan and Great Opportunities Academic Loan II Programs offered by U.S. Bank National Association; (ii) the ChoiceLoan and Pathway Loan Programs offered by Marquette Bank, N.A.; and (iii) such other programs upon receipt by the Trustee of written notice thereof by an Authorized Officer of the Corporation and confirmation from each Rating Agency that financing of loans under such programs under the Indenture will not cause the withdrawal or downgrade of any rating of any series of Notes any of which are Outstanding.

Examples of Alternative Loan Program in a sentence

The Servicer shall perform all services and duties customary to the origination and disbursement of Student Loans in accordance with generally accepted industry standards and practices and in compliance with the Higher Education Act, applicable requirements of the Guarantor and each Alternative Loan Program and all other applicable federal, state and local laws and regulations.
No such amendment shall become effective unless and until the Trustee consents in writing thereto, which consent shall not be given unless the Trustee receives an opinion of Counsel that such amendment is required by the Higher Education Act or the related Alternative Loan Program, or is not to the prejudice of the Holders of the Notes or Other Beneficiaries.
Retain summary records of all contacts, follow-ups and collection efforts (showing at least the date and subject of each communication with the Borrower or endorser for collection of each delinquent Financed Student Loan) and records of all correspondence (including, without limitation, changes for which records are required to be maintained by the Higher Education Act, the Guarantee Program regulations and, where applicable, each Alternative Loan Program) relating to each Financed Student Loan.
All Financed Student Loans shall be administered and collected by a Servicer selected by the Corporation in a competent, diligent and orderly fashion and in accordance with all requirements of the Higher Education Act, the Secretary of Education, this Indenture, the Federal Reimbursement Contracts, each Alternative Loan Program, each Guarantee Program and each Guarantee Agreement.
Exercise reasonable discretion in approving borrower requests for forbearance (as permitted under the Higher Education Act and the Guarantee Program regulations or the applicable Alternative Loan Program, as appropriate) where such approval will not adversely affect the financial viability of the Issuer and will not violate the covenants set forth in the Indenture.
The Servicer shall perform or shall cause its subcontractor to perform all services hereunder in compliance with the Higher Education Act, applicable requirements of each Guarantee Agency and each Alternative Loan Program and all other applicable federal, state and local laws and regulations.
Any Servicer shall perform or shall cause its subcontractor to perform all services under the Servicing Agreement in compliance with the Higher Education Act, applicable requirements of each Guarantee Agency and each Alternative Loan Program and all other applicable federal, state and local laws and regulations.
In the case of defaulted Financed Alternative Loans, take all steps necessary to recover on such defaulted Financed Alternatives Loans in accordance with the requirements of the applicable Alternative Loan Program.
The Trustee shall be the legal owner of all Financed Student Loans for all purposes of the Higher Education Act, each Alternative Loan Program and each Guarantee Program.
The Servicer also shall (i) determine the Net Loan Rate and notify the Trustee and the Auction Agent thereof at the times required by the Indenture, and (ii) prepare for filing, and provide such other assistance as is required by the Issuer to file, any other reports required to be filed by the Issuer under the Higher Education Act and any Alternative Loan Program.

More Definitions of Alternative Loan Program

Alternative Loan Program means each of the following programs for the making of Student Loans other than FFELP Loans the Alternative Loans under which are eligible to be Financed under the Indenture: (i) the Great Opportunities Academic Loan and Great Opportunities Academic Loan II Programs offered by U.S. Bank National Association; (ii) the Choice Loan, Pathway, Partner and MEFC Loan Programs offered by Marquette Bank, N.A.; (iii) the Quest Loan, Independence, ▇▇▇▇▇▇ Education and BrainBucks Loan Programs offered by Surety Loan Funding Company; and (iv) such other programs upon receipt by the Trustee of written notice thereof by an Authorized Officer of the Corporation and confirmation from each Rating Agency that financing of loans under such programs under the Indenture will not cause the withdrawal or downgrade of any rating of any series of Notes any of which are Outstanding.