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 Xxxxxx 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.
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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 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.
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Examples of Alternative Loan Program in a sentence

  • Private Graduate Loans made to medical students (“Medical Loans”) are marketed as MD EXCEL, Med EXCEL Preferred, Med EXCEL Custom, Med EXCEL, R&R EXCEL, R&R EXCEL Preferred, R&R EXCEL Custom and EXCEL Grad Extension Loan R&R (collectively, the “MD EXCEL Loans”) and MEDLOANS (consisting of MEDLOANS®, MEDLOAN Alternative Loan Program (ALP) loans and MEDEX Loan Program loans).

  • 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.

  • 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.

  • 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.

  • 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.

  • The Servicer agrees that each of the Financed Student Loans, while held under the Indenture, shall be serviced by it in accordance with the procedures established in the Higher Education Act, the Guarantee Program regulations and, where applicable, each Alternative Loan Program.

  • 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.

  • Upon receipt of Student Status Confirmation Reports or other notification of change information for loans serviced during the year ended December 31, 2002, we accurately updated - and as of December 31, 2002, we had effective internal control over compliance with requirements to accurately update - loan records for changes to student status, including conversion to payment status, in accordance with Key Alternative Loan Program guidelines.

  • To the extent permitted by the Higher Education Act and the Guarantee Program regulations or the Alternative Loan Program, as appropriate, the Servicer may, on behalf of the Issuer, waive this requirement of any Lender (in the case of FFELP Loans), SLFC (in the case of Alternative Loans) or GOAL Funding (in the case of Financed GOAL Funding Student Loans) if the notice is sent by the Servicer on behalf of such Lender, SLFC or GOAL Funding.

  • Upon receipt of Student Status Confirmation Reports or other notification of change information for loans serviced during the year ended December 31, 2003, we accurately updated -- and as of December 31, 2003, we had effective internal control over compliance with requirements to accurately update -- loan records for changes to student status, including conversion to payment status, in accordance with Key Alternative Loan Program guidelines.


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, Xxxxxx 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.
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Related to Alternative Loan Program

  • Loan Program means the State Treasurer’s Interest-Free Loan Program for Colorado School Districts authorized pursuant to the Loan Program Statutes.

  • Streamlined Documentation Mortgage Loan Any Mortgage Loan originated pursuant to the Seller's Streamlined Loan Documentation Program then in effect.

  • Cooperative Loans Any of the Mortgage Loans made in respect of a Cooperative Apartment, evidenced by a Mortgage Note and secured by (i) a Security Agreement, (ii) the related Cooperative Stock Certificate, (iii) an assignment of the Cooperative Lease, (iv) financing statements and (v) a stock power (or other similar instrument), and ancillary thereto, a recognition agreement between the Cooperative and the originator of the Cooperative Loan, each of which was transferred and assigned to the Trustee pursuant to Section 2.01 and are from time to time held as part of the Trust Fund.

  • Cooperative Loan Any Mortgage Loan secured by Cooperative Shares and a Proprietary Lease.

  • Educational loan means a loan made by the authority to an institution.

  • Commercial loan means a loan that is not made primarily for

  • Original Loan shall have the meaning set forth in the recitals hereto.

  • Alternative program means a non-disciplinary monitoring or practice remediation process approved by a physical therapy licensing board. This includes, but is not limited to, substance abuse issues.

  • Additional Loan means the Eligible Loans evidenced by a Note or Notes sold from time to time during the Supplemental Purchase Period pursuant to an Additional Purchase Agreement and related documentation, together with any guaranties and other rights relating thereto including, without limitation, Interest Subsidy Payments and Special Allowance Payments.

  • Acquisition Loan means a loan or other extension of credit, including an installment obligation to a “party in interest” (as defined in Section 3(14) of ERISA) incurred by the Trustee in connection with the purchase of Company Stock.

  • Eligible facility means a gas-fired electric generation facility with a nominal capacity of 1,000 MW or less.

  • alternative plan means a group RRSP, including the BCTF Plan, which was entered into prior to the coming into force of this Article, and which is still in effect as of that date.

  • SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

  • Cut-off Date Loan Balance means the Loan Balance calculated as of the Cut-off Date.

  • Additional Loans means any Additional Revolving Loans and any Additional Term Loans.

  • EMC Mortgage Loans Those Mortgage Loans serviced by the Company pursuant to the terms of this Agreement.

  • Equipment Loan means middle market equipment loans that consist of loans made to obligors in the United States of America primarily secured by new or used transportation equipment and managed by the Equipment Finance reporting category of the Commercial Lending and Leasing division of GE Capital.

  • Initial Loan is defined in Section 2.1.

  • Group III Mortgage Loans and "Group IV Mortgage Loans," respectively), formed by Wells Fargo Asset Securities Corporation (hereinafter called the "Depxxxxxr," which term includes any successor entity under the Agreement referred to below). The Trust Estate was created pursuant to a Pooling and Servicing Agreement dated as of February 27, 2006 (the "Agreement") among the Depositor, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer") anx X.X. Bank National Association, as trustee (the "Trustee"), a summary of certain of the pertinent provisions of which is set forth hereinafter. To the extent not defined herein, the capitalized terms used herein have the meanings ascribed to such terms in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date"), commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the Record Date, in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the Group II-A Distribution Amount for the Class II-A-7 Certificates required to be distributed to Holders of the Class II-A-7 Certificates on such Distribution Date, subject to adjustment in certain events as specified in the Agreement. Distributions in reduction of the Principal Balance of certain Classes of Class A Certificates may not commence on the first Distribution Date specified above. Distributions of principal will be allocated among the Classes of Group II-A Certificates in accordance with the provisions of the Agreement. The pass-through rate on the Class II-A-7 Certificates applicable to each Distribution Date will be 5.500% per annum. The amount of interest which accrues on this Certificate in any month will be subject to reduction with respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and the interest portion of certain Realized Losses allocated to the Class II-A-7 Certificates, as described in the Agreement. Distributions on this Certificate will be made by the Paying Agent by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register, unless such Person is entitled to receive payments by wire transfer in immediately available funds in accordance with the Agreement and such Person has notified the Paying Agent pursuant to the Agreement that such payments are to be made by wire transfer of immediately available funds. Notwithstanding the above, the final distribution in reduction of the Principal Balance of this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency of the Paying Agent specified for that purpose in the notice of final distribution. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate constitutes a "regular interest" in a "real estate mortgage investment conduit" as those terms are defined in Section 860G(a)(1) and Section 860D, respectively, of the Internal Revenue Code of 1986, as amended. Unless this Certificate has been countersigned by an authorized officer of the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.

  • Replacement Mortgage Loan A Mortgage Loan or Mortgage Loans in the aggregate substituted by the Seller for a Deleted Mortgage Loan, which must, on the date of such substitution, as confirmed in a Request for Release, (i) have a Stated Principal Balance, after deduction of the principal portion of the Scheduled Payment due in the month of substitution, not in excess of, and not less than 90% of, the Stated Principal Balance of the Deleted Mortgage Loan; (ii) if the Replacement Mortgage Loan is a fixed rate Mortgage Loan, have a fixed Mortgage Rate not less than or more than 1% per annum higher than the Mortgage Rate of the Deleted Mortgage Loan; (iii) have the same or higher credit quality characteristics than that of the Deleted Mortgage Loan; (iv) have a Loan-to-Value Ratio no higher than that of the Deleted Mortgage Loan; (v) have a remaining term to maturity no greater than (and not more than one year less than) that of the Deleted Mortgage Loan; (vi) not permit conversion of the Mortgage Rate from a fixed rate to a variable rate; (vii) have the same lien priority as the Deleted Mortgage Loan; (viii) constitute the same occupancy type as the Deleted Mortgage Loan or be owner occupied; (ix) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Maximum Mortgage Rate not less than the Maximum Mortgage Rate on the Deleted Mortgage Loan, (x) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Minimum Mortgage Rate not less than the Minimum Mortgage Rate of the Deleted Mortgage Loan, (xi) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Gross Margin equal to or greater than the Gross Margin of the Deleted Mortgage Loan, (xii) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a next Adjustment Date not more than two months later than the next Adjustment Date on the Deleted Mortgage Loan, (xiii) comply with each representation and warranty set forth in Section 7 of the Mortgage Loan Purchase Agreement and (xiv) the Custodian has delivered a Final Certification noting no defects or exceptions.

  • Subsequent Mortgage Loans means, for purposes of this Agreement, the Subsequent Mortgage Loans listed in the Subsequent Mortgage Loan Schedule attached hereto as Schedule I.

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.