Cohort Default Rate. Permit the Cohort Default Rate for any School to exceed: (i) the maximum percentage permitted by the DOE for the applicable three consecutive cohort fiscal years in order for such school to participate in Title IV Programs or (ii) the maximum percentage permitted by the DOE for the applicable cohort fiscal year in order for such school to participate in Title IV Programs. For purposes of this Section 7.11(d), a “cohort fiscal year” is a twelve month period commencing on October 1 of a year and ending on September 30 of the following year.
Cohort Default Rate. Section 2.20 of the Company Disclosure Letter sets forth the published and draft cohort default rate for the School, calculated by the DOE and issued to the School pursuant to 30 C.F.R. (S) 668.17 or a predecessor regulation, for the federal fiscal years September 30, 1994 through and including September 30, 1997. Such schedule is materially accurate in all respects. As of the date of this Agreement, neither the Company nor the School has received any notice from DOE or any guaranty agency as to the calculation or issuance of a published or draft cohort default rate for the School for the year ended September 30, 1998. The School has official cohort default rates of 25.0%, 15.6%, 2.8%, 12.5% and 28.57% on Federal Xxxxxxx Loans for award years, 1995, 1996, 1997, 1998 and 1999, respectively.
Cohort Default Rate. Permit the Cohort Default Rate for any School (i) with respect to any period prior to the release of official cohort default rates in approximately September 2014, to be equal to or greater than twenty-five percent (25%) for three consecutive federal fiscal years, (ii) with respect to the official three-year cohort default rates for federal fiscal year 2009, federal fiscal year 2010 and federal fiscal year 2011 and any three-year cohort default rates published thereafter, to be equal to or greater than thirty percent (30%) for three consecutive federal fiscal years or (iii) to exceed forty percent (40%) for any single federal fiscal year.
Cohort Default Rate. Permit the Cohort Default Rate for the School (i) with respect to any period prior to the release of official cohort default rates, to be equal to or greater than thirty percent (30%) for three consecutive federal fiscal years or (ii) to exceed forty percent (40%) for any single federal fiscal year.
Cohort Default Rate. Schedule 4.9 attached hereto sets forth the published cohort default rate for the School, calculated by the DOE and issued to the School, for the federal fiscal years ending September 30, 1994 through September 30, 1996. To the Best of Seller's Knowledge, such schedule is materially accurate in all respects. Neither the School or Seller has received any notice as to the calculation or issuance of the cohort default rates for the School for the year ended September 30, 1997.
Cohort Default Rate. Schedule 5.07 attached hereto sets forth the cohort default rate for the School, calculated in the manner prescribed by the DOE, of all students attending the School receiving assistance pursuant to Title IV programs for the fiscal years 1996 through 2000. Such schedule is correct and accurate in all respects.
Cohort Default Rate. 9 5.8 Title to the Purchased Assets........................... 9 5.9
Cohort Default Rate. (1) The term "cohort default rate'' means, for any award year in which 30 or more current and former students at the institution enter repayment on a loan received for attendance at the institution, the percentage of those current and former students who enter repayment in that award year on the loans received for attendance at that institution who default before the end of the following award year.
Cohort Default Rate. The Borrower will not permit the Cohort Default Rate for any School to exceed (i) 30% for two consecutive federal fiscal years, or (ii) 40% for any federal fiscal year, subject to the completion of a customary appeals process after the first federal fiscal year that the official Cohort Default Rate was equal to or greater than 30%, if applicable.
Cohort Default Rate. Borrower shall ensure that School does not allow its Cohort default rate to exceed any of (i) twenty-five percent (25%) as calculated under the two-year method, for each of the Borrower’s three most recent federal fiscal years, or (ii) thirty percent (30%) as calculated under the three-year method, for each of the Borrower’s three most recent federal fiscal years, or (iii) forty percent (40%) in any fiscal year, or (iv). a rate that may result in any suspension of eligibility or sanctions pursuant to the Higher Education Act of 1965, as amended. In addition, Borrower shall ensure that School meets the requirements for Federal Direct Loan Program loans and Federal Xxxxxxx loans, as published by the DOE.
