SLFC definition
Examples of SLFC in a sentence
The foregoing indemnity agreement shall be in addition to any liability which EdLinc or SLFC may otherwise have.
The Corporation shall cause all amounts required to be credited to the Revenue Fund, upon receipt by the Corporation, a Lender, SLFC, a Transferor or a Servicer, or any agent thereof, as the case may be, to be forthwith transmitted to the Trustee or any Deposit Agent therefor for such credit.
A successor to the Underwriters, EdLinc or SLFC or any person controlling any of them or their respective directors or officers, shall be entitled to the benefits of the indemnity, contribution and reimbursement agreements contained in this Section 5.
The Servicer shall give Lenders (in the case of FFELP Loans) or SLFC (in the case of Alternative Loans), as appropriate, a reasonable opportunity (but in no event longer than 30 days or such greater period of time as the Trustee shall consent to in writing) to correct any exceptions or problems identified by the Servicer and to provide such documentation and information to the Servicer as shall be necessary to correct such exceptions or problems.
SLFC has the power and authority (corporate and other) to own its assets and carry on its business as now being conducted and to enter into, and perform in accordance with the terms of, this Agreement.
If the Servicer at any time becomes aware of an event which would (i) allow the Issuer to reject a Student Loan under the applicable Student Loan Purchase Agreement, or (ii) allow the Issuer to require a Lender (in the case of FFELP Loans) or SLFC (in the case of Alternative Loans) to repurchase a Financed Eligible Loan or Financed Student Loan or to substitute an Eligible Loan under the applicable Student Loan Purchase Agreement, then the Servicer shall so notify the Issuer.
Notice of such termination may be given to EdLinc, SLFC and the Transferor, by telegram, telecopy or telephone and shall be subsequently confirmed by letter.
SLFC is duly organized and validly existing as a corporation in good standing under the laws of the State of South Dakota and is duly qualified to conduct its business in good standing in the State of South Dakota and is qualified to do business in all other States where action by SLFC is required to carry out the obligations of the Servicer and the Administrator under this Agreement.
The relative benefits received by EdLinc and SLFC on the one hand and the Underwriters on the other shall be deemed to be in the same proportion as the total net proceeds from the offering of the Notes (before deducting expenses) received by EdLinc and SLFC bear to the total underwriting discounts and commissions received by the Underwriters.
The Trustee will, upon the purchase of each Alternative Loan from a Transferor or SLFC, deposit to the credit of the Alternative Loan Guarantee Fund the amount, if any, specified in the related Supplemental Indenture.