Special Allowance Payments definition

Special Allowance Payments means payments, designated as such, consisting of effective interest subsidies by the Department in respect of the Trust Student Loans to the Eligible Lender Trustee on behalf of the Trust in accordance with the Higher Education Act.

Special Allowance Payments means special allowance payments authorized to be made by the Secretary of Education pursuant to Section 438 of the Higher Education Act or similar allowances authorized from time to time by federal law or regulation.

Special Allowance Payments means special allowance payments authorized to be made by the Secretary of Education by Section 438 of the Higher Education Act, or similar allowances authorized from time to time by federal law or regulation.

Examples of Special Allowance Payments in a sentence

• In such event, the Servicer may claim and collect Interest Subsidy Payments and Special Allowance Payments with respect to Trust Student Loans and student loans in such other trusts using such common lender identification number.

• The purchase price hereunder will be the unpaid principal amount of such Trust Student Loan plus accrued and unpaid interest (calculated using the applicable percentage that would have been insured pursuant to Section 428(b)(1)(G) of the Higher Education Act) plus an amount equal to all forfeited Interest Subsidy Payments and Special Allowance Payments with respect to such Trust Student Loan.

• SLM ECFC shall also remit as provided in Section 2.6 of the Administration Agreement on the date of repurchase of any Trust Student Loan pursuant to this Section 6(A) 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.

• Such deposits will be used to offset the amount of Floor Income, if any, that is expected to be netted by the Department against the Interest Subsidy Payments and/or Special Allowance Payments otherwise due to the Issuer for that Collection Period.

• The Seller shall also remit as provided in Section 2.6 of the Administration Agreement on the date of repurchase of any Trust Student Loan pursuant to this Section 6(A) 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.

More Definitions of Special Allowance Payments

Special Allowance Payments means special allowance payments on FFELP student loans authorized to be made by the Department pursuant to Section 438 of the Higher Education Act.

Special Allowance Payments means the special allowance payments authorized to be made by the Secretary by Section 438 of the Higher Education Act, or similar allowances, if any, authorized from time to time by federal law or regulation.

Special Allowance Payments shall have the meaning assigned to such term in the Indenture.

Special Allowance Payments means special allowance payments authorized to be made by the Secretary in respect of the Guaranteed Loans pursuant to Section 438 of the Higher Education Act or similar allowances authorized from time to time by federal law or regulation.

Special Allowance Payments means special allowance payments authorized to be made by the Secretary of Education pursuant to Section 438(b) of the Higher Education Act with respect to a Student Loan, or similar allowances authorized from time to time by Federal law or regulation.

Special Allowance Payments means payments, designated as such, consisting of effective interest subsidies by the Department in respect of Student Loans that are FFELP Loans to Issuer in accordance with the Higher Education Act.

Special Allowance Payments means payments, designated as such, consisting of effective interest subsidies by the Department in respect of the Trust Student Loans to the Eligible Lender Trustee on behalf of the Trust in accordance with the Higher Education Act. "SPECIFIED RESERVE ACCOUNT BALANCE" with respect to any Distribution Date means the greater of (i) 0.25% of the Pool Balance as of the close of business on the last day of the related Collection Period and (ii) $3,761,650, provided that in no event will that balance exceed the Outstanding Amount of the Notes. For these purposes, as to any class of Reset Rate Notes then bearing interest at a fixed rate, the Outstanding Amount of that class of Reset Rate Notes (or its U.S. Dollar Equivalent Principal Amount, if applicable) will be reduced by any amounts on deposit in the Accumulation Account for that class (exclusive of any Investment Earnings).