SLMA definition
Examples of SLMA in a sentence
L3.2 Your Quarterly Payment may include an origination fee, amounts carried over from a previous unexpired lease, SLMA fees and other charges.
Notwithstanding the foregoing, SLMA agrees to individually endorse each Note in the form provided by Funding as Funding may from time to time require or if such individual endorsement is required by the Guarantor of the Note.
SLMA shall not be under any obligation to appear in, prosecute or defend any legal action that shall not be incidental to its obligations under these Master Terms or any Purchase Agreement, and that in its opinion may involve it in any expense or liability.
Notice given in any such communication, mailed to SLMA or Funding by appropriately addressed registered mail, shall be deemed to have been given on the day following the date of such mailing.
At the direction of and in such form as Funding may designate, SLMA also agrees to individually endorse any Eligible Loan as Funding may request from time to time.
Each Purchase Agreement supersedes all previous agreements and understandings between Funding and SLMA with respect to the subject matter thereof.
At the time such payment is made, SLMA shall not be required to reimburse Funding for interest that is then capitalized, however, such amounts shall be reimbursed if the borrower subsequently defaults and such capitalized interest is not paid by the Guarantor.
If SLMA shall have made any indemnity payments pursuant to this Section and the Person to or on behalf of whom such payments are made thereafter shall collect any of such amounts from others, such Person shall promptly repay such amounts to SLMA, without interest.
SLMA shall also remit as provided in Section 2.6 of the Administration Agreement on the date of purchase of any Trust Student Loan pursuant to this Section 6 an amount equal to all non-guaranteed interest amounts and forfeited Interest Subsidy Payments and Special Allowance Payments with respect to such Trust Student Loan.
All communications, notices and approvals provided for hereunder shall be in writing and mailed or delivered to SLMA or Funding, as the case may be, addressed as set forth in the Purchase Agreement or at such other address as either party may hereafter designate by notice to the other party.