Common use of Interest Subsidy and Special Allowance Payments and Rebate Fees Clause in Contracts

Interest Subsidy and Special Allowance Payments and Rebate Fees. The Seller shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Additional Loan or Substituted Loan accruing up to but not including the related Subsequent Cutoff Date and shall be responsible for the payment of any rebate fees applicable to such Purchased Loans subject to the related Xxxx of Sale accruing up to but not including the related Subsequent Cutoff Date. The Purchaser and the Eligible Lender Trustee on behalf of the Purchaser shall be entitled to all Special Allowance Payments and Interest Subsidy Payments accruing from the related Subsequent Cutoff Date with respect to the Additional Loans or Substituted Loans, and shall be responsible for the payment of any rebate fees applicable to the Additional Loans accruing from the date of the related Subsequent Cutoff Date.

Appears in 24 contracts

Samples: Initial Sale Agreement (Navient Student Loan Trust 2014-1), Initial Sale Agreement (SLM Student Loan Trust 2014-2), Initial Sale Agreement (SLM Student Loan Trust 2014-1)

AutoNDA by SimpleDocs

Interest Subsidy and Special Allowance Payments and Rebate Fees. The Seller shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Additional Loan or Substituted Loan accruing up to but not including the related Subsequent Cutoff Date and shall be responsible for the payment of any rebate fees applicable to such Purchased Loans subject to the related Xxxx of Sale accruing up to but not including the related Subsequent Cutoff Date. The Purchaser and the Eligible Lender Trustee on behalf of the Purchaser shall be entitled to all Special Allowance Payments and Interest Subsidy Payments accruing from the related Subsequent Cutoff Date with respect to the Additional Loans or Substituted Loans, and shall be responsible for the payment of any rebate fees applicable to the Additional Loans which are Consolidation Loans subject to the related Xxxx of Sale accruing from the date of the related Subsequent Cutoff Date.

Appears in 14 contracts

Samples: Initial Sale Agreement (SLM Student Loan Trust 2011-2), Initial Sale Agreement (SLM Funding LLC), Initial Sale Agreement (SLM Funding LLC)

Interest Subsidy and Special Allowance Payments and Rebate Fees. The Seller shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Additional Loan or Substituted Loan accruing up to but not including the related Subsequent Cutoff Date and shall be responsible for the payment of any rebate fees applicable to such Purchased Loans subject to the related Xxxx Bxxx of Sale accruing up to but not including the related Subsequent Cutoff Date. The Purchaser and the Eligible Lender Trustee on behalf of the Purchaser shall be entitled to all Special Allowance Payments and Interest Subsidy Payments accruing from the related Subsequent Cutoff Date with respect to the Additional Loans or Substituted Loans, and shall be responsible for the payment of any rebate fees applicable to the Additional Loans which are Consolidation Loans subject to the related Bxxx of Sale accruing from the date of the related Subsequent Cutoff Date.

Appears in 3 contracts

Samples: Initial Sale Agreement (SLM Student Loan Trust 2005-8), Initial Sale Agreement (SLM Student Loan Trust 2005-4), Initial Sale Agreement (SLM Student Loan Trust 2005-9)

Interest Subsidy and Special Allowance Payments and Rebate Fees. The Seller (and the Interim Eligible Lender Trustee for the benefit of the Seller) shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Additional Loan or Substituted Loan accruing up to but not including the related Subsequent Cutoff Date and shall be responsible for the payment of any rebate fees applicable to such Purchased Loans subject to the related Xxxx of Sale accruing up to but not including the related Subsequent Cutoff Date. The Purchaser (and the Eligible Lender Trustee on behalf of the Purchaser Purchaser) shall be entitled to all Special Allowance Payments and Interest Subsidy Payments accruing from the related Subsequent Cutoff Date with respect to the Additional Loans or Substituted Loans, and shall be responsible for the payment of any rebate fees applicable to the Additional Loans accruing from the date of the related Subsequent Cutoff Date.

Appears in 3 contracts

Samples: Initial Sale Agreement (Navient Student Loan Trust 2015-3), Initial Sale Agreement (Navient Student Loan Trust 2015-2), Initial Sale Agreement (Navient Student Loan Trust 2015-1)

Interest Subsidy and Special Allowance Payments and Rebate Fees. The Seller shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Additional Loan or Substituted Loan accruing up to but not including the related Subsequent Cutoff Date and shall be responsible for the payment of any rebate fees applicable to such Purchased Loans subject to the related Xxxx Bxxx of Sale accruing up to but not including the related Subsequent Cutoff Date. The Purchaser and the Eligible Lender Trustee on behalf of the Purchaser shall be entitled to all Special Allowance Payments and Interest Subsidy Payments accruing from the related Subsequent Cutoff Date with respect to the Additional Loans or Substituted Loans, and shall be responsible for the payment of any rebate fees applicable to the Additional Loans accruing from the date of the related Subsequent Cutoff Date.

Appears in 2 contracts

Samples: Initial Sale Agreement (SLM Student Loan Trust 2006-3), Initial Sale Agreement (SLM Student Loan Trust 2006-1)

Interest Subsidy and Special Allowance Payments and Rebate Fees. The Seller shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Additional Loan or Substituted Loan accruing up to but not including the related Subsequent Cutoff Date and shall be responsible for the payment of any rebate fees applicable to such Purchased Loans subject to the related Xxxx of Sale accruing up to but not including the related Subsequent Cutoff Date. The Purchaser and the Eligible Lender Trustee on behalf of the Purchaser shall be entitled to all Special Allowance Payments and Interest Subsidy Payments accruing from the related Subsequent Cutoff Date with respect to the Additional Loans or Substituted Loans, and shall be responsible for the payment of any rebate fees applicable to the Additional Loans which are Consolidation Loans subject to the related Xxxx of Sale accruing from the date of the related Subsequent Cutoff Date.

Appears in 2 contracts

Samples: Initial Sale Agreement (SLM Student Loan Trust 2005-7), Initial Sale Agreement (SLM Student Loan Trust 2005-6)

Interest Subsidy and Special Allowance Payments and Rebate Fees. The Seller shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Additional Loan or Substituted Loan accruing up to but not including the related Subsequent Cutoff Date and shall be responsible for the payment of any rebate fees applicable to such Purchased Loans subject to the related Xxxx of Sale accruing up to but not including the related Subsequent Cutoff Date. The Purchaser and the Eligible Lender Trustee on behalf of the Purchaser shall be entitled to all Special Allowance Payments and Interest Subsidy Payments accruing from the related Subsequent Cutoff Date with respect to the Additional Loans or Substituted Loans, and shall be responsible for the payment of any rebate fees applicable to the Additional Loans [which are Consolidation Loans subject to the related Xxxx of Sale] accruing from the date of the related Subsequent Cutoff Date.

Appears in 2 contracts

Samples: Initial Sale Agreement (SLM Funding LLC), Initial Sale Agreement (SLM Education Credit Funding LLC)

Interest Subsidy and Special Allowance Payments and Rebate Fees. The Seller shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Additional Loan or Substituted Loan accruing up to but not including the related Subsequent Cutoff Date and shall be responsible for the payment of any rebate fees applicable to such Purchased Loans subject to the related Xxxx of Sale accruing up to but not including the related Subsequent Cutoff Date. The Purchaser and Sale Agreement the Eligible Lender Trustee on behalf of the Purchaser shall be entitled to all Special Allowance Payments and Interest Subsidy Payments accruing from the related Subsequent Cutoff Date with respect to the Additional Loans or Substituted Loans, and shall be responsible for the payment of any rebate fees applicable to the Additional Loans accruing from the date of the related Subsequent Cutoff Date.

Appears in 2 contracts

Samples: Initial Sale Agreement (SLM Student Loan Trust 2008-5), Initial Sale Agreement (SLM Student Loan Trust 2008-4)

Interest Subsidy and Special Allowance Payments and Rebate Fees. The Seller shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Additional Loan or Substituted Loan accruing up to but not including the related Subsequent Cutoff Date and shall be responsible for the payment of any rebate fees applicable to such Purchased Loans subject to the related Xxxx Bxxx of Sale accruing up to but not including the related Subsequent Cutoff Date. The Purchaser and the Eligible Lender Trustee on behalf of the Purchaser shall be entitled to all Special Allowance Payments and Interest Subsidy Payments accruing from the related Subsequent Cutoff Date with respect to the Additional Loans or Substituted Loans, and shall be responsible for the payment of any rebate fees applicable to the Additional Loans which are Consolidation Loans subject to the related Bxxx of Sale accruing from the date of the related Subsequent Cutoff Date.

Appears in 2 contracts

Samples: Initial Sale Agreement (SLM Student Loan Trust 2011-1), Initial Sale Agreement (SLM Student Loan Trust 2006-6)

AutoNDA by SimpleDocs

Interest Subsidy and Special Allowance Payments and Rebate Fees. The Seller shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each the Additional Loan or Substituted Loan Loans accruing up to but not including the related Subsequent Cutoff Date and shall be responsible for the payment of any rebate fees applicable to such Purchased Additional Loans subject to the related Additional Xxxx of Sale accruing up to but not including the date of the related Subsequent Cutoff DateAdditional Xxxx of Sale. The Purchaser and the Eligible Lender Trustee on behalf of the Purchaser shall be entitled to all Special Allowance Payments and Interest Subsidy Payments accruing from the related Subsequent Cutoff Date with respect to the Additional Loans or Substituted Loans, and shall be responsible for the payment of any rebate fees applicable to the Additional Loans which are Consolidation Loans subject to the related Additional Xxxx of Sale accruing from the date of the related Subsequent Cutoff DateAdditional Xxxx of Sale.

Appears in 2 contracts

Samples: Additional Sale Agreement (SLM Funding LLC), Additional Sale Agreement (SLM Funding LLC)

Interest Subsidy and Special Allowance Payments and Rebate Fees. The Seller VG Funding shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each the Additional Loan or Substituted Loan Loans accruing up to but not including the related Subsequent Cutoff Date and shall be responsible for the payment of any rebate fees applicable to such Purchased Additional Loans subject to the related Additional Xxxx of Sale accruing up to but not including the date of the related Subsequent Cutoff DateAdditional Xxxx of Sale. The Purchaser and the Interim Eligible Lender Trustee on behalf of the Purchaser Funding shall be entitled to all Special Allowance Payments and Interest Subsidy Payments accruing from the related Subsequent Cutoff Date with respect to the Additional Loans or Substituted Loans, and shall be responsible for the payment of any rebate fees applicable to the Additional Loans which are Consolidation Loans subject to the related Additional Xxxx of Sale accruing from the date of the related Subsequent Cutoff DateAdditional Xxxx of Sale.

Appears in 1 contract

Samples: Additional Purchase Agreement (SLM Funding LLC)

Interest Subsidy and Special Allowance Payments and Rebate Fees. The Seller VG Funding shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Additional Loan or Substituted Loan accruing up to but not including the related Subsequent Cutoff Date Date, as applicable, and shall be responsible for the payment of any rebate fees applicable to such Purchased Loans subject to the related Xxxx of Sale accruing up to but not including the date of the related Subsequent Cutoff DateXxxx of Sale. The Purchaser and the Interim Eligible Lender Trustee on behalf of the Purchaser Funding shall be entitled to all Special Allowance Payments and Interest Subsidy Payments accruing from the related Subsequent Cutoff Date with respect to the Additional Loans or Substituted Loans, and shall be responsible for the payment of any rebate fees applicable to the Additional Loans accruing from the date of the related Subsequent Cutoff DateXxxx of Sale.

Appears in 1 contract

Samples: Purchase Agreement (SLM Funding LLC)

Interest Subsidy and Special Allowance Payments and Rebate Fees. The Seller shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Additional Loan or Substituted Loan accruing up to but not including the related Subsequent Cutoff Date Date, as applicable, and shall be responsible for the payment of any rebate fees applicable to such Purchased Loans subject to the related Xxxx of Sale accruing up to but not including the date of the related Subsequent Cutoff DateXxxx of Sale. The Purchaser and the Eligible Lender Trustee on behalf of the Purchaser shall be entitled to all Special Allowance Payments and Interest Subsidy Payments accruing from the related Subsequent Cutoff Date with respect to the Additional Loans or Substituted Loans, and shall be responsible for the payment of any rebate fees applicable to the Additional Loans accruing from the date of the related Subsequent Cutoff DateXxxx of Sale.

Appears in 1 contract

Samples: Initial Sale Agreement (SLM Funding LLC)

Interest Subsidy and Special Allowance Payments and Rebate Fees. The Seller VG Funding shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Additional Loan or Substituted Loan accruing up to but not including the related Subsequent Cutoff Date Date, as applicable, and shall be responsible for the payment of any rebate fees applicable to such Purchased Loans subject to the related Xxxx of Sale accruing up to but not including the date of the related Subsequent Cutoff DateXxxx of Sale. The Purchaser and the Interim Eligible Lender Trustee on behalf of the Purchaser Funding shall be entitled to all Special Allowance Payments and Interest Subsidy Payments accruing from the related Subsequent Cutoff Date with respect to the Additional Loans or Substituted Purchased Loans, and shall be responsible for the payment of any rebate fees applicable to the Additional Purchased Loans which are Consolidation Loans subject to the related Xxxx of Sale accruing from the date of the related Subsequent Cutoff DateXxxx of Sale.

Appears in 1 contract

Samples: Initial Purchase Agreement (SLM Funding LLC)

Time is Money Join Law Insider Premium to draft better contracts faster.