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 Initial Loan up to but not including the Initial Cutoff Date, and shall be responsible for the payment of rebate fees, if any, applicable to the Initial Loans accruing up to but not including the Initial Cutoff Date. The Purchaser and the Eligible Lender Trustee, for the benefit of the Purchaser, shall be entitled to all Special Allowance Payments and Interest Subsidy Payments on the Initial Loans accruing from the Initial Cutoff Date, and shall be responsible for the payment of any rebate fees applicable to the Initial Loans accruing from the Initial Cutoff Date.

Appears in 28 contracts

Samples: Initial Sale Agreement (SLM Student Loan Trust 2014-2), Initial Sale Agreement (SLM Student Loan Trust 2014-1), Initial Sale Agreement (SLM Student Loan Trust 2011-2)

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Interest Subsidy and Special Allowance Payments and Rebate Fees. The On the Cutoff Date, Seller shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Initial Loan up to but not including the Initial Cutoff Date, and shall be responsible for the payment of rebate fees, if any, applicable to the Initial Loans accruing up to but not including the Initial Cutoff Date. The Purchaser and the Eligible Lender Trustee, for the benefit of the Purchaser, shall be entitled to all Special Allowance Payments and Interest Subsidy Payments on the Initial Loans accruing from the Initial Cutoff Date, and shall be responsible for the payment of any rebate fees applicable to the Initial Consolidation Loans subject to each Xxxx of Sale accruing up to but not including the Closing Date. The Purchaser and the Eligible Lender Trustee for the benefit of Purchaser shall be entitled to all Special Allowance Payments and Interest Subsidy Payments and shall be responsible for the payment of any rebate fees accruing from the Initial Cutoff DateDate in the case of Special Allowance Payments and Interest Subsidy Payments and the Closing Date in the case of any rebate fees.

Appears in 8 contracts

Samples: 16 Sale Agreement (SLM Funding Corp), Sale Agreement (SLM Funding Corp), Sale Agreement (SLM Funding Corp)

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 Initial Loan the Loans up to but not including the Initial related Payment Cutoff Date, and shall be responsible for the payment of rebate fees, if any, applicable to the Initial Purchased Loans accruing up to but not including the Initial related Payment Cutoff Date. The Purchaser and the Eligible Lender Trustee, for the benefit Trustee on behalf of the Purchaser, Purchaser shall be entitled to all Special Allowance Payments and Interest Subsidy Payments on the Initial Purchased Loans accruing from from, and including, the Initial related Payment Cutoff Date, and shall be responsible for the payment of any rebate fees applicable to the Initial Purchased Loans accruing from from, and including, the Initial Payment Cutoff Date.

Appears in 6 contracts

Samples: Sale Agreement (SLC Student Loan Trust 2006-1), Sale Agreement (SLC Student Loan Trust 2006-2), Master Terms Sale Agreement (SLC Student Loan Trust 2005-1)

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 Initial Loan the Loans up to but not including the Initial related Payment Cutoff Date, and shall be responsible for the payment of rebate fees, if any, applicable to the Initial Purchased Loans accruing up to but not including the Initial related Payment Cutoff Date. The Purchaser and the Eligible Lender Trustee, for the benefit of the Purchaser, shall be entitled to all Special Allowance Payments and Interest Subsidy Payments on the Initial Purchased Loans accruing from from, and including, the Initial related Payment Cutoff Date, and shall be responsible for the payment of any rebate fees applicable to the Initial Purchased Loans accruing from from, and including, the Initial Payment Cutoff Date.

Appears in 6 contracts

Samples: Sale Agreement (SLM Funding LLC), Sale Agreement (SLM Funding LLC), 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 Initial Loan up to but not including the Initial Cutoff Date, and shall be responsible for the payment of rebate fees, if any, applicable to the Initial Loans accruing up to but not including the Initial Cutoff Closing Date. The Purchaser and the Eligible Lender Trustee, for the benefit of the Purchaser, shall be entitled to all Special Allowance Payments and Interest Subsidy Payments on the Initial Loans accruing from the Initial Cutoff Date, and shall be responsible for the payment of any rebate fees applicable to the Initial Loans accruing from the Initial Cutoff Closing Date.

Appears in 2 contracts

Samples: Initial Sale Agreement (SLM Student Loan Trust 2005-3), Initial Sale Agreement (SLM Funding LLC)

Interest Subsidy and Special Allowance Payments and Rebate Fees. The On the Cutoff Date, Seller shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Initial Loan up to but not including the Initial Cutoff Date, Loans and shall be responsible for the payment thepayment of any rebate fees, if any, fees applicable to the Initial Consolidation Loans subject to each Xxxx of Sale accruing up to but not including the Initial Cutoff Closing Date. The Purchaser and the Eligible Lender Trustee, Trustee for the benefit of the Purchaser, Purchaser shall be entitled to all Special Allowance Payments and Interest Subsidy Payments on the Initial Loans accruing from the Initial Cutoff Date, and shall be responsible for the payment of any rebate fees applicable to the Initial Loans accruing from the Initial Cutoff DateDate in the case of Special Allowance Payments and Interest Subsidy Payments and the Closing Date in the case of any rebate fees.

Appears in 1 contract

Samples: Sale Agreement (SLM Funding Corp)

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 Initial Loan up to but not including the Initial Cutoff Date, Sale Agreement – No. 1 and shall be responsible for the payment of rebate fees, if any, applicable to the Initial Loans accruing up to but not including the Initial Cutoff Date. The Purchaser and the Eligible Lender Trustee, for the benefit of the Purchaser, shall be entitled to all Special Allowance Payments and Interest Subsidy Payments on the Initial Loans accruing from the Initial Cutoff Date, and shall be responsible for the payment of any rebate fees applicable to the Initial Loans accruing from the Initial Cutoff Date.

Appears in 1 contract

Samples: Initial Sale Agreement (SLM Student Loan Trust 2005-5)

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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 Initial Loan the Loans up to but not including the Initial Cutoff Date, and shall be responsible for the payment of rebate fees, if any, applicable to the Initial Loans accruing up to but not including the Initial Cutoff Date. The Purchaser and the Eligible Lender Trustee, for the benefit of the Purchaser, shall be entitled to all Special Allowance Payments and Interest Subsidy Payments on the Initial Loans accruing from the Initial related Payment Cutoff Date, and shall be responsible for the payment of any rebate fees applicable to the Initial Loans accruing from up to but not including the Initial related Payment Cutoff Date. The Purchaser and the Eligible Lender Trustee for the benefit of and on behalf of the Purchaser shall be entitled to all Special Allowance Payments and Interest Subsidy Payments on the Loans accruing from, and including, the related Payment Cutoff Date, and shall be responsible for the payment of any rebate fees applicable to the Loans accruing from, and including, the Payment Cutoff Date.

Appears in 1 contract

Samples: Sale Agreement Master Securitization Terms Number ____ (Wells Fargo Student Loans Receivables I 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 Initial Loan up to but not including the Initial Cutoff Date, and shall be responsible for the payment of rebate fees, if any, applicable to the Initial Sale Agreement Loans accruing up to but not including the Initial Cutoff Date. The Purchaser and the Eligible Lender Trustee, for the benefit of the Purchaser, shall be entitled to all Special Allowance Payments and Interest Subsidy Payments on the Initial Loans accruing from the Initial Cutoff Date, and shall be responsible for the payment of any rebate fees applicable to the Initial Loans accruing from the Initial Cutoff Date.

Appears in 1 contract

Samples: 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 Initial Loan the Loans up to but not including the Initial Cutoff Date, and shall be responsible for the payment of rebate fees, if any, applicable to the Initial Loans accruing up to but not including the Initial Cutoff Date. The Purchaser and the Eligible Lender Trustee, for the benefit of the Purchaser, shall be entitled to all Special Allowance Payments and Interest Subsidy Payments on the Initial Loans accruing from the Initial related Payment Cutoff Date, and shall be responsible for the payment of any rebate fees applicable to the Initial Loans accruing from up to but not including the Initial related Payment Cutoff Date. The Purchaser and the Interim Eligible Lender Trustee for the benefit of and on behalf of the Purchaser shall be entitled to all Special Allowance Payments and Interest Subsidy Payments on the Loans accruing from, and including, the related Payment Cutoff Date, and shall be responsible for the payment of any rebate fees applicable to the Loans accruing from, and including the Payment Cutoff Date.

Appears in 1 contract

Samples: Purchase Agreement Master Securitization Terms Number ____ (Wells Fargo Student Loans Receivables I LLC)

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