MOHELA definition
Examples of MOHELA in a sentence
Upon the effective date of the termination of this Article, no additional Student Loan applications shall be delivered for guarantee and disbursement servicing to MOHELA.
I grants MOHELA a royalty free, non-exclusive license to use its intellectual property relating to its identifying trade and service marks, including but not limited to, all related CFO or CFSR I names(s) and logos and consents to use of same in all applications, documents and programs related to the services provided in this Agreement.
MOHELA agrees to purchase and service all applications for Student Loans that CFO has in process on the date of receipt of the notice of termination by CFO.
MOHELA reserves the right to change any part or all of the services in connection with this Agreement provided that such change shall not abrogate or in any way modify the obligations of MOHELA under this Agreement, including without limitation the quality of the services provided or the compliance requirements hereunder.
In any event, MOHELA shall provide the applicable Secured Party with a copy of any notice of a proposed termination of this Agreement simultaneously with the delivery of such notice to CFMS, CFO, CFSR I or the ELT.
Unless otherwise agreed, the fees for each loan disbursement shall be paid within thirty (30) days following the receipt of an invoice from MOHELA by CFO.
MOHELA may incorporate CFO or CFSR I's Initial Privacy Notice into the applicable on-line student loan application service offered by MOHELA, if available.
Upon the effective date of the termination of this Article, no additional Student Loans shall be delivered for servicing to MOHELA and all loans being serviced by MOHELA on that date shall, at the option of MOHELA be purchased by MOHELA or be returned to CFSM.
MOHELA and CFO, CFSR I, and CFMS shall be excused from any breach of or failure to perform under this Agreement if performance is prohibited or prevented by an applicable law, rule or regulation; or if such breach or failure results from any acts of God, strikes or other labor disputes, failures of third parties, war, riots or civil disturbances of any cause beyond its reasonable control which hinders or prevents its performance under this Agreement.
It is understood and agreed that the representations, warranties and covenants set forth in this Section shall survive the sale of the Student Loans by CFSR I to MOHELA and that the representations and warranties shall inure to the benefit of the transferees and assigns of MOHELA.