Common use of Notes Outstanding Clause in Contracts

Notes Outstanding. In the event the Auction Agent receives from the Trustee written notice of any partial redemption of any Series 1999-1 Notes, the Auction Agent shall, at least two Business Days prior to the next Auction, request each Participant to disclose to the Auction Agent (upon selection by such Participant of the Existing Holders whose Series 1999-1 Notes are to be redeemed) the aggregate principal amount of such Series 1999-1 Notes of each such Existing Holder, if any, which are to be redeemed; provided the Auction Agent has been furnished with the name and telephone number of a person or department at such Participant from which it is to request such information. In the absence of receiving any such information with respect to any Existing Holder, from such Existing Holder's Participant or otherwise, the Auction Agent may continue to treat such Existing Holder as the beneficial owner of the principal amount of Series 1999-1 Notes shown in the Existing Holder Registry.

Appears in 2 contracts

Samples: Auction Agent Agreement (Education Loans Inc /De), Auction Agent Agreement (Education Loans Inc /De)

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Notes Outstanding. In the event the Auction Agent receives from the Trustee written notice of any partial redemption of any Series 19992000-1 Notes, the Auction Agent shall, at least two Business Days prior to the next Auction, request each Participant to disclose to the Auction Agent (upon selection by such Participant of the Existing Holders whose Series 19992000-1 Notes are to be redeemed) the aggregate principal amount of such Series 19992000-1 Notes of each such Existing Holder, if any, which are to be redeemed; provided the Auction Agent has been furnished with the name and telephone number of a person or department at such Participant from which it is to request such information. In the absence of receiving any such information with respect to any Existing Holder, from such Existing Holder's Participant or otherwise, the Auction Agent may continue to treat such Existing Holder as the beneficial owner of the principal amount of Series 19992000-1 Notes shown in the Existing Holder Registry.

Appears in 1 contract

Samples: Auction Agent Agreement (Education Loans Inc /De)

Notes Outstanding. In the event the Auction Agent receives from the Trustee written notice of any partial redemption of any Series 19992002-1 Notes, the Auction Agent shall, at least two Business Days prior to the next Auction, request each Participant to disclose to the Auction Agent (upon selection by such Participant of the Existing Holders whose Series 19992002-1 Notes are to be redeemed) the aggregate principal amount of such Series 19992002-1 Notes of each such Existing Holder, if any, which are to be redeemed; provided the Auction Agent has been furnished with the name and telephone number of a person or department at such Participant from which it is to request such information. In the absence of receiving any such information with respect to any Existing Holder, from such Existing Holder's Participant or otherwise, the Auction Agent may continue to treat such Existing Holder as the beneficial owner of the principal amount of Series 19992002-1 Notes shown in the Existing Holder Registry.

Appears in 1 contract

Samples: Auction Agent Agreement (Education Loans Inc /De)

Notes Outstanding. In the event the Auction Agent receives from the Trustee written notice of any partial redemption of any Series 19992001-1 Notes, the Auction Agent shall, at least two Business Days prior to the next Auction, request each Participant to disclose to the Auction Agent (upon selection by such Participant of the Existing Holders whose Series 19992001-1 Notes are to be redeemed) the aggregate principal amount of such Series 19992001-1 Notes of each such Existing Holder, if any, which are to be redeemed; provided the Auction Agent has been furnished with the name and telephone number of a person or department at such Participant from which it is to request such information. In the absence of receiving any such information with respect to any Existing Holder, from such Existing Holder's Participant or otherwise, the Auction Agent may continue to treat such Existing Holder as the beneficial owner of the principal amount of Series 19992001-1 Notes shown in the Existing Holder Registry.

Appears in 1 contract

Samples: Auction Agent Agreement (Education Loans Inc /De)

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Notes Outstanding. In the event the Auction Agent receives from the Trustee written notice of any partial redemption of any Series 19992004-1 Notes, the Auction Agent shall, at least two Business Days prior to the next Auction, request each Participant to disclose to the Auction Agent (upon selection by such Participant of the Existing Holders whose Series 19992004-1 Notes are to be redeemed) the aggregate principal amount of such Series 19992004-1 Notes of each such Existing Holder, if any, which are to be redeemed; provided the Auction Agent has been furnished with the name and telephone number of a person or department at such Participant from which it is to request such information. In the absence of receiving any such information with respect to any Existing Holder, from such Existing Holder's Participant or otherwise, the Auction Agent may continue to treat such Existing Holder as the beneficial owner of the principal amount of Series 19992004-1 Notes shown in the Existing Holder Registry.

Appears in 1 contract

Samples: Auction Agent Agreement (Education Loans Inc /De)

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