{"component": "definition", "props": {"groups": [{"snippet_links": [{"key": "the-class", "type": "clause", "offset": [6, 15]}], "snippet": "means the Class A-2-AR Notes and the Class A-3-AR Notes.", "samples": [{"hash": "kANB4jBahS8", "uri": "/contracts/kANB4jBahS8#auction-rate-notes", "label": "Broker Dealer Agreement (National Collegiate Student Loan Trust 2007-3)", "score": 21.0, "published": true}, {"hash": "j9tVTKEY9NJ", "uri": "/contracts/j9tVTKEY9NJ#auction-rate-notes", "label": "Broker Dealer Agreement (National Collegiate Student Loan Trust 2007-4)", "score": 21.0, "published": true}, {"hash": "ix3muPuGitK", "uri": "/contracts/ix3muPuGitK#auction-rate-notes", "label": "Broker Dealer Agreement (National Collegiate Student Loan Trust 2007-4)", "score": 21.0, "published": true}], "size": 14, "hash": "9e225bfec237c3650c6d028870367a32", "id": 1}, {"snippet_links": [{"key": "class-of-notes", "type": "definition", "offset": [11, 25]}, {"key": "applicable-interest-rate", "type": "definition", "offset": [40, 64]}, {"key": "auction-procedures", "type": "clause", "offset": [108, 126]}, {"key": "supplemental-indenture", "type": "clause", "offset": [155, 177]}, {"key": "as-of-the-closing-date", "type": "clause", "offset": [228, 250]}, {"key": "a-class", "type": "definition", "offset": [302, 309]}], "snippet": "means each class of Notes for which the applicable interest rate is determined periodically pursuant to the auction procedures described in the applicable Supplemental Indenture pursuant to which such class of Notes was issued. 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Class A-5c Notes and the Class B Notes.", "samples": [{"hash": "d51WZjcVZkY", "uri": "/contracts/d51WZjcVZkY#auction-rate-notes", "label": "Indenture of Trust (Nelnet Inc)", "score": 18.0, "published": true}, {"hash": "8BGZLjXX2Ee", "uri": "/contracts/8BGZLjXX2Ee#auction-rate-notes", "label": "Indenture of Trust (Nelnet Education Loan Funding Inc)", "score": 18.0, "published": true}, {"hash": "55w3ecJAxNz", "uri": "http://d18rn0p25nwr6d.cloudfront.net/CIK-0001258602/e5e699bd-6063-4e47-81b2-7b114913d136.pdf", "label": "d18rn0p25nwr6d.cloudfront.net", "score": 5.0, "published": false}], "size": 3, "hash": "6121a0e1c0c487cfd709007f82e03858", "id": 3}, {"snippet_links": [{"key": "the-context", "type": "clause", "offset": [14, 25]}, {"key": "a-reference-to", "type": "clause", "offset": [47, 61]}, {"key": "the-auction", "type": "definition", "offset": [66, 77]}, {"key": "to-refer", "type": "definition", "offset": [100, 108]}], "snippet": "shall, unless the context clearly contemplates a 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"appendix-a", "type": "definition", "offset": [159, 169]}, {"key": "the-indenture", "type": "clause", "offset": [173, 186]}, {"key": "class-b-notes", "type": "definition", "offset": [240, 253]}], "snippet": "means, collectively, the Class A-5a Notes (but only if the Class A-5a Notes have been reset to bear interest at an Auction Rate pursuant to Section 2.01(f) of Appendix A to the Indenture), the Class A-5b Notes, the Class A-5c Notes and the Class B Notes.", "samples": [{"hash": "d51WZjcVZkY", "uri": "/contracts/d51WZjcVZkY#auction-rate-notes", "label": "Indenture of Trust (Nelnet Inc)", "score": 18.0, "published": true}, {"hash": "8BGZLjXX2Ee", "uri": "/contracts/8BGZLjXX2Ee#auction-rate-notes", "label": "Indenture of Trust (Nelnet Education Loan Funding Inc)", "score": 18.0, "published": true}], "size": 2, "hash": "1b3b51d55a93d4e189a78c356aa21652", "id": 7}, {"snippet_links": [{"key": "the-series", "type": "definition", "offset": [21, 31]}], "snippet": "means, collectively, the 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"e315860e4b27175ee838fed602aa7949", "id": 10}], "next_curs": "Cl8SWWoVc35sYXdpbnNpZGVyY29udHJhY3RzcjsLEhpEZWZpbml0aW9uU25pcHBldEdyb3VwX3Y1NiIbYXVjdGlvbi1yYXRlLW5vdGVzIzAwMDAwMDBhDKIBAmVuGAAgAA==", "definition": {"title": "Auction Rate Notes", "snippet": "means the Class A-2-AR Notes and the Class A-3-AR Notes.", "size": 64, "id": "auction-rate-notes", "examples": ["The Auction Note Interest Rate to be borne by the <strong>Auction Rate Notes</strong> after such Initial Period for each Auction Period until an Auction Period Adjustment, if any, shall be determined as described below.", "For the <strong>Auction Rate Notes</strong> during the Initial Period and each Auction Period thereafter, interest at the applicable <strong>Auction Rate Notes</strong> Interest Rate shall accrue daily and shall be computed for the actual number of days elapsed on the basis of a year consisting of 360 days.", "During the Initial Period, each Class of <strong>Auction Rate Notes</strong> shall bear interest at the Initial Rate for such Class.", "Notwithstanding the foregoing terms of this Section 2.06(a), any delivery or non-delivery of <strong>Auction Rate Notes</strong> which represents any departure from the results of an Auction, as determined by the Auction Agent, shall be of no effect unless and until the Auction Agent shall have been notified of such delivery or non-delivery in accordance with the terms of Section 2.03(c) hereof.", "The determination of a Variable Rate by the Auction Agent or any other Person pursuant to the provisions of the applicable Section of this Article II shall be conclusive and binding on the Noteholders of the <strong>Auction Rate Notes</strong> to which such Variable Rate applies, and the Issuer and the Indenture Trustee may rely thereon for all purposes.", "The Auction Note Interest Rate of the <strong>Auction Rate Notes</strong> for each Auction Period shall be the Auction Rate in effect for such Auction Period as determined in accordance with Section 2.02(a) of this Appendix A-2; provided that if, on any Interest Rate Determination Date, an Auction is not held for any reason, then the Auction Note Interest Rate on such <strong>Auction Rate Notes</strong> for the next succeeding Auction Period shall be the applicable Cap Rate.", "For purposes of subclause (c)(iii) of the foregoing sentence, if any Existing Holder who acquired <strong>Auction Rate Notes</strong> through BD transfers those <strong>Auction Rate Notes</strong> to another Person other than pursuant to an Auction, then the Broker-Dealer for the <strong>Auction Rate Notes</strong> so transferred shall continue to be BD; provided, however, that if the transfer was effected by, or if the transferee is, a Broker-Dealer other than BD, then such Broker-Dealer shall be the Broker-Dealer for such <strong>Auction Rate Notes</strong>.", "The Auction Agent may be removed at any time by the Indenture Trustee upon the written direction of an Authorized Officer or by the holders of a majority of the aggregate principal amount of the <strong>Auction Rate Notes</strong> then Outstanding, and if by such Noteholders, by an instrument signed by such Noteholders or their attorneys and filed with the Auction Agent, the Issuer and the Indenture Trustee upon at least 90 days&#x27; written notice.", "The Indenture Trustee shall, upon request, notify the Noteholders and the Issuer of <strong>Auction Rate Notes</strong> of the applicable Auction Note Interest Rate applicable to such <strong>Auction Rate Notes</strong> for each Auction Period not later than the third Business Day of such Auction Period.", "These Settlement Procedures apply separately to each Series of <strong>Auction Rate Notes</strong>."], "related": [["fixed-rate-notes", "Fixed Rate Notes", "Fixed Rate Notes"], ["floating-rate-notes", "Floating Rate Notes", "Floating Rate Notes"], ["auction-rate", "Auction Rate", "Auction Rate"], ["fixed-rate-note", "Fixed Rate Note", "Fixed Rate Note"], ["bid-rate-note", "Bid Rate Note", "Bid Rate Note"]], "related_snippets": [], "updated": "2025-07-06T21:55:40+00:00"}, "json": true, "cursor": ""}}