Examples of Consolidation Loan in a sentence
The Add-On Consolidation Loan Account shall be used solely for the acquisition of Add-On Loans.
With respect to each series of Notes, the Trustee shall, pursuant to an Issuer Order, upon the issuance thereof and from the proceeds of issuance thereof, credit to the Add-On Consolidation Loan Account the amount, if any, specified in the Supplemental Indenture providing for the issuance of such series of Notes.
The Trustee shall make payments from the Add-On Consolidation Loan Account to Lenders for the acquisition of Add-On Loans that are Eligible Loans, including all related Premiums, if any, in connection therewith, upon receipt by the Trustee of an Eligible Loan Acquisition Certificate and all documents and certificates required thereby.
Any amount returned by the entity engaged by the Issuer to disburse such fund to borrowers under such Consolidation Loans (due to the borrower under the Consolidation Loan not cashing his or her disbursement check or otherwise) shall be deposited to the Borrower Benefits Fund and shall remain in the Borrower Benefits Fund until the borrower under the related Consolidation Loan is unable to make a claim for such moneys against the Issuer.
For that matter, on October 11, 2022, the President signed into law the Joint Consolidation Loan Separation Act, S.