Common use of Performance and Enforcement of Certain Obligations Clause in Contracts

Performance and Enforcement of Certain Obligations. (a) Promptly following a request from the Indenture Trustee to do so and at the Administrator's expense, the Issuer shall take all such lawful action as the Indenture Trustee may request to compel or secure the performance and observance by the Seller, the Student Loan Marketing Association, the Administrator and the Servicer, as applicable, of each of their obligations to the Issuer, whether directly or by assignment, under or in connection with the Sale Agreement, the Purchase Agreement, the Administration Agreement and the Servicing Agreement, respectively, in accordance with the terms thereof, and to exercise any and all rights, remedies, powers and privileges lawfully available to the Issuer under or in connection with the Sale Agreement, the Purchase Agreement, the Administration Agreement and the Servicing Agreement, as the case may be, to the extent and in the manner directed by the Indenture Trustee, including the transmission of notices of default on the part of the Seller, the Student Loan Marketing Association, the Administrator or the Servicer thereunder and the institution of legal or administrative actions or proceedings to compel or secure performance by the Seller, the Student Loan Marketing Association, the Administrator or the Servicer of each of their obligations under the Sale Agreement, the Purchase Agreement, the Administration Agreement and the Servicing Agreement, respectively.

Performance and Enforcement of Certain Obligations. (a) Promptly following a request from the Indenture Trustee to do so and at the Administrator's expense, the Issuer shall take all such lawful action as the Indenture Trustee may request to compel or secure the performance and observance by the SellerDepositor, the Student Loan Marketing AssociationXxxxxx Xxx, the Administrator and the Servicer, as applicable, of each of their obligations to the Issuer, whether directly or by assignment, under or in connection with the Sale Agreement, the Purchase Agreement, the Administration Agreement and the Servicing Agreement, respectively, in accordance with the terms thereof, and to exercise any and all rights, remedies, powers and privileges lawfully available to the Issuer under or in connection with the Sale Agreement, the Purchase Agreement, the Administration Agreement and the Servicing Agreement, as the case may be, to the extent and in the manner directed by the Indenture Trustee, including the transmission of notices of default on the part of the SellerDepositor, the Student Loan Marketing AssociationXxxxxx Xxx, the Administrator or the Servicer thereunder and the institution of legal or administrative actions or proceedings to compel or secure performance by the SellerDepositor, the Student Loan Marketing AssociationXxxxxx Mae, the Administrator or the Servicer of each of their obligations under the Sale Agreement, the Purchase Agreement, the Administration Agreement and the Servicing Agreement, respectively.

Performance and Enforcement of Certain Obligations. (a) Promptly following a request from the Indenture Trustee to do so and at the Administrator's expense, the Issuer shall take all such lawful action as the Indenture Trustee may request to compel or secure the performance and observance by the Seller, the Student Loan Marketing AssociationServicer, the Administrator Holder of the Revolving Liquidity Note and the ServicerSwap Counterparty, as applicable, of each of their obligations to the Issuer, whether directly or by assignment, Issuer under or in connection with the Sale and Servicing Agreement, the Purchase Agreement, the Administration Revolving Liquidity Note Agreement and the Servicing Agreement, respectively, Interest Rate Swap Agreement or by the Seller of its remedies under or in accordance connection with the terms thereofReceivables Purchase Agreement, and to exercise any and all rights, remedies, powers and privileges lawfully available to the Issuer under or in connection with the Sale Agreement, the Purchase Agreement, the Administration and Servicing Agreement and the Servicing Agreement, as the case may be, Revolving Liquidity Note Agreement to the extent and in the manner directed by the Indenture Trustee, including the transmission of notices of default on the part of the Seller, the Student Loan Marketing Association, the Administrator Servicer or the Servicer Holder of the Revolving Liquidity Note thereunder and the institution of legal or administrative actions or proceedings to compel or secure performance by the Seller, the Student Loan Marketing AssociationServicer, the Administrator or the Servicer Holder of the Revolving Liquidity Note of each of their respective obligations under the Sale Agreement, the Purchase Agreement, the Administration and Servicing Agreement and the Servicing Revolving Liquidity Note Agreement, respectively.

Performance and Enforcement of Certain Obligations. (a) Promptly following a request from the Indenture Trustee to do so and at the AdministratorNote Issuer's expense, the Note Issuer shall agrees to take all such lawful action as the Indenture Trustee may request to compel or secure the performance and observance by the SellerComEd, the Student Loan Marketing Association, the Administrator Grantee and the Servicer, as applicable, of each of their obligations to the Issuer, whether directly or by assignment, Note Issuer under or in connection with the Grant Agreement or any Subsequent Grant Agreement, the Sale Agreement, the Purchase Agreement, the Administration or any Subsequent Sale Agreement and the Servicing Agreement, respectively, in accordance with the terms thereof, and to exercise any and all rights, remedies, powers and privileges lawfully available to the Note Issuer under or in connection with the Sale Agreementany such agreements, the Purchase Agreement, the Administration Agreement and the Servicing Agreement, as the case may berespectively, to the extent and in the manner directed by the Indenture Trustee, including the transmission of notices of default on the part of the SellerComEd, the Student Loan Marketing Association, the Administrator Grantee or the Servicer thereunder and the institution of legal or administrative actions or proceedings to compel or secure performance by the SellerComEd, the Student Loan Marketing Association, the Administrator Grantee or the Servicer of each of their respective obligations under the Grant Agreement, any Subsequent Grant Agreement, the Sale Agreement, the Purchase Agreement, the Administration any Subsequent Sale Agreement and the Servicing Agreement, respectively.

Performance and Enforcement of Certain Obligations. (a) -------------------------------------------------- Promptly following a request from the Indenture Trustee to do so and at the Administrator's expense, the Issuer shall take all such lawful action as the Indenture Trustee may request to compel or secure the performance and observance by the Seller, the Student Loan Marketing Association, the Administrator and the Servicer, as applicable, of each of their obligations to the Issuer, whether directly or by assignment, under or in connection with the Sale Agreement, the Purchase Agreement, the Administration Agreement and the Servicing Agreement, respectively, in accordance with the terms thereof, and to exercise any and all rights, remedies, powers and privileges lawfully available to the Issuer under or in connection with the Sale Agreement, the Purchase Agreement, the Administration Agreement and the Servicing Agreement, as the case may be, to the extent and in the manner directed by the Indenture Trustee, including the transmission of notices of default on the part of the Seller, the Student Loan Marketing Association, the Administrator or the Servicer thereunder and the institution of legal or administrative actions or proceedings to compel or secure performance by the Seller, the Student Loan Marketing Association, the Administrator or the Servicer of each of their obligations under the Sale Agreement, the Purchase Agreement, the Administration Agreement and the Servicing Agreement, respectively.

Performance and Enforcement of Certain Obligations. (a) Promptly following a request from the Indenture Trustee to do so and at the Administrator's expenseso, the Issuer in its capacity as holder of the Mortgage Loans, shall take all such lawful action as the Indenture Trustee may request to cause the Issuer to compel or secure the performance and observance by the Seller, the Student Loan Marketing Association, the Administrator Seller and the Master Servicer, as applicable, of each of their obligations to the Issuer, whether directly or by assignment, Issuer under or in connection with the Mortgage Loan Sale and Contribution Agreement, the Purchase Agreement, the Administration Agreement Subsequent Mortgage Loan Sale and Contribution Agreements and the Servicing Agreement, respectively, in accordance with the terms thereof, and to exercise any and all rights, remedies, powers and privileges lawfully available to the Issuer under or in connection with the Mortgage Loan Sale and Contribution Agreement, the Purchase Agreement, the Administration Agreement Subsequent Mortgage Loan Sale and Contribution Agreements and the Servicing Agreement, as the case may be, Agreement to the extent and in the manner directed by the Indenture TrusteeTrustee as pledgee of the Mortgage Loans, including the transmission of notices of default on the part of the Seller, the Student Loan Marketing Association, the Administrator Seller or the Master Servicer thereunder and the institution of legal or administrative actions or proceedings to compel or secure performance by the Seller, the Student Loan Marketing Association, the Administrator Seller or the Master Servicer of each of their obligations under the Mortgage Loan Sale and Contribution Agreement, the Purchase Agreement, the Administration Agreement Subsequent Mortgage Loan Sale and Contribution Agreements and the Servicing Agreement, respectively.

Performance and Enforcement of Certain Obligations. (a) Promptly following a request from the Indenture Trustee to do so and at the Administrator's expense, the Issuer shall take all such lawful action as the Indenture Trustee may request to compel or secure the performance and observance by the Seller, the Student Loan Marketing Association, the Administrator and Seller or the Servicer, as applicable, of each of their obligations to the Issuer, whether directly or by assignment, Issuer under or in connection with the Sale Agreement, and Servicing Agreement [or the Receivables Purchase Agreement, the Administration Agreement and the Servicing Agreement, respectively, in accordance with the terms thereof, as applicable,] and to exercise any and all rights, remedies, powers and privileges lawfully available to the Issuer under or in connection with the Sale Agreement, and Servicing Agreement [or the Receivables Purchase Agreement, the Administration Agreement and the Servicing Agreement, as the case may be, ] to the extent and in the manner directed by the Indenture Trustee, including the transmission of notices of default on the part of the Seller, the Student Loan Marketing Association, the Administrator Seller or the Servicer thereunder and the institution of legal or administrative actions or proceedings to compel or secure performance by the Seller, the Student Loan Marketing Association, the Administrator Seller or the Servicer of each of their obligations under the Sale Agreement, and Servicing Agreement [or the Receivables Purchase Agreement]; provided, however, nothing herein shall in any way impose on the Administration Agreement and Indenture Trustee the Servicing Agreementduty to monitor the performance of the Seller or the Servicer of any of their liabilities, respectivelyduties or obligations under any Basic Document.

Performance and Enforcement of Certain Obligations. (a) Promptly following a request from the Indenture Trustee to do so and at the Administrator's ’s expense, the Issuer shall take all such lawful action as the Indenture Trustee may request to compel or secure the performance and observance by the SellerDepositor, the Student Loan Marketing AssociationSLM Education Credit Management Corporation, the Administrator and the Servicer, as applicable, of each of their obligations to the Issuer, whether directly or by assignment, under or in connection with the Sale Agreement, the Purchase Agreement, the Administration Agreement and the Servicing Agreement, respectively, in accordance with the terms thereof, and to exercise any and all rights, remedies, powers and privileges lawfully available to the Issuer under or in connection with the Sale Agreement, the Purchase Agreement, the Administration Agreement and the Servicing Agreement, as the case may be, to the extent and in the manner directed by the Indenture Trustee, including the transmission of notices of default on the part of the SellerDepositor, the Student Loan Marketing AssociationSLM Education Credit Management Corporation, the Administrator or the Servicer thereunder and the institution of legal or administrative actions or proceedings to compel or secure performance by the SellerDepositor, the Student Loan Marketing AssociationSLM Education Credit Management Corporation, the Administrator or the Servicer of each of their obligations under the Sale Agreement, the Purchase Agreement, the Administration Agreement and the Servicing Agreement, respectively.

Performance and Enforcement of Certain Obligations. (a) Promptly following a request from the Indenture Trustee to do so and at the Administrator's expenseso, the Issuer in its capacity as holder of the Mortgage Loans, shall take all such lawful action as the Indenture Trustee may request to cause the Issuer to compel or secure the performance and observance by the Seller, the Student Loan Marketing Association, the Administrator Seller and the Master Servicer, as applicable, of each of their obligations to the Issuer, whether directly or by assignment, Issuer under or in connection with the Mortgage Loan Sale and Contribution Agreement, the Purchase Agreement, the Administration any Subsequent Mortgage Loan Sale and Contribution Agreement and the Servicing Agreement, respectively, in accordance with the terms thereof, and to exercise any and all rights, remedies, powers and privileges lawfully available to the Issuer under or in connection with the Mortgage Loan Sale and Contribution Agreement, the Purchase Agreement, the Administration any Subsequent Mortgage Loan Sale and Contribution Agreement and the Servicing Agreement, as the case may be, Agreement to the extent and in the manner directed by the Indenture Trustee, as pledgee of the Mortgage Loans, including the transmission of notices of default on the part of the Seller, the Student Loan Marketing Association, the Administrator Seller or the Master Servicer thereunder and the institution of legal or administrative actions or proceedings to compel or secure performance by the Seller, the Student Loan Marketing Association, the Administrator Seller or the Master Servicer of each of their obligations under the Mortgage Loan Sale and Contribution Agreement, the Purchase Agreement, the Administration any Subsequent Mortgage Loan Sale and Contribution Agreement and the Servicing Agreement, respectively.

Performance and Enforcement of Certain Obligations. (a) Promptly following a request from the Indenture Trustee to do so and at the AdministratorServicer's expense, the Issuer shall take all such lawful action as the Indenture Trustee may request to compel or secure the performance and observance by the Depositor, the Seller, the Student Loan Marketing AssociationServicer, the Administrator Administrator, the Demand Note Provider and the ServicerSwap Counterparty, as applicable, of each of their obligations to the Issuer, whether directly or by assignment, Issuer under or in connection with the Loan Sale Agreement, the Purchase Servicing Agreement, the Administration Agreement Agreement, the Demand Note and the Servicing Agreement, respectively, in accordance with the terms thereof, Swap Agreement and to exercise any and all rights, remedies, powers and privileges lawfully available to the Issuer under or in connection with the Loan Sale Agreement, the Purchase Servicing Agreement, the Demand Note and the Administration Agreement and the Servicing Agreement, as the case may be, to the extent and in the manner directed by the Indenture Trustee, including the transmission of notices of default on the part of the Depositor, the Seller, the Student Loan Marketing AssociationServicer, the Administrator Administrator, the Demand Note Provider or the Servicer Swap Counterparty thereunder and the institution of legal or administrative actions or proceedings to compel or secure performance by the Depositor, the Seller, the Student Loan Marketing AssociationServicer, the Administrator or the Servicer Swap Counterparty of each of their obligations under the Loan Sale Agreement, the Purchase Servicing Agreement, the Administration Agreement and the Servicing Agreement, respectivelythe Demand Note or the Swap Agreement.

Performance and Enforcement of Certain Obligations. (a) Promptly following a request from the Indenture Trustee to do so and at the Administrator's expense, the Issuer shall take all such lawful action as the Indenture Trustee may request to compel or secure the performance and observance by the SellerDepositor, the Student Loan Marketing AssociationXxxxxx Xxx, the Administrator and the Servicer, as applicable, of each of their obligations to the Issuer, whether directly or by assignment, under or in connection with the Sale Agreement, the Purchase Agreement, the Administration Agreement and the Servicing Agreement, respectively, in accordance with the terms thereof, and to exercise any and all rights, remedies, powers and privileges lawfully available to the Issuer under or in connection with the Sale Agreement, the 31 Purchase Agreement, the Administration Agreement and the Servicing Agreement, as the case may be, to the extent and in the manner directed by the Indenture Trustee, including the transmission of notices of default on the part of the SellerDepositor, the Student Loan Marketing AssociationXxxxxx Xxx, the Administrator or the Servicer thereunder and the institution of legal or administrative actions or proceedings to compel or secure performance by the SellerDepositor, the Student Loan Marketing AssociationXxxxxx Mae, the Administrator or the Servicer of each of their obligations under the Sale Agreement, the Purchase Agreement, the Administration Agreement and the Servicing Agreement, respectively.

Performance and Enforcement of Certain Obligations. (a) Promptly following a request from the Indenture Trustee to do so and at the Administrator's expenseso, the Issuer shall take all such lawful action as the Indenture Trustee may request to compel or secure the performance and observance by the Seller, the Student Loan Marketing Association, the Administrator and Originators or the Servicer, as applicable, of each of their obligations to the Issuer, whether directly or by assignment, Issuer under or in connection with the Sale Agreement, and Servicing Agreement or the Receivables Purchase Agreement, the Administration Agreement and the Servicing Agreement, respectively, in accordance with the terms thereofas applicable, and to exercise any and all rights, remedies, powers and privileges lawfully available to the Issuer under or in connection with the Sale Agreement, and Servicing Agreement or the Receivables Purchase Agreement, the Administration Agreement and the Servicing Agreement, as the case may be, to the extent and in the manner directed by the Indenture Trustee, including the transmission of notices of default on the part of the Seller, the Student Loan Marketing Association, the Administrator Originators or the Servicer thereunder and the institution of legal or administrative actions or proceedings to compel or secure performance by the Seller, or the Student Loan Marketing Association, the Administrator Originators or the Servicer of each of their obligations under the Sale and Servicing Agreement or the Receivables Purchase Agreement; provided, however, nothing herein shall in any way impose on the Indenture Trustee the duty to monitor the performance of the Seller, the Purchase AgreementOriginators or the Servicer of any of their liabilities, the Administration Agreement and the Servicing Agreement, respectivelyduties or obligations under any Basic Document.

Performance and Enforcement of Certain Obligations. (a) Promptly following a request from the Indenture Trustee to do so and at the Administrator's expense, the Issuer shall take all such lawful action as the Indenture Trustee may request to compel or secure the performance and observance by the SellerDepositor, the Student Loan Marketing AssociationSLM Education Credit Management Corporation, the Administrator and the Servicer, as applicable, of each of their obligations to the Issuer, whether directly or by assignment, under or in connection with the Sale Agreement, the Purchase Agreement, the Administration Agreement and the Servicing Agreement, respectively, in accordance with the terms thereof, and to exercise any and all rights, remedies, powers and privileges lawfully available to the Issuer under or in connection with the Sale Agreement, the Purchase Agreement, the Administration Agreement and the Servicing Agreement, as the case may be, to the extent and in the manner directed by the Indenture Trustee, including the transmission of notices of default on the part of the SellerDepositor, the Student Loan Marketing AssociationSLM Education Credit Management Corporation, the Administrator or the Servicer thereunder and the institution of legal or administrative actions or proceedings to compel or secure performance by the SellerDepositor, the Student Loan Marketing AssociationSLM Education Credit Management Corporation, the Administrator or the Servicer of each of their obligations under the Sale Agreement, the Purchase Agreement, the Administration Agreement and the Servicing Agreement, respectively.

Performance and Enforcement of Certain Obligations. (a) Promptly following a request from the Indenture Trustee to do so and at the Administrator's expenseso, the Issuer in its capacity as holder of the Mortgage Loans, shall take all such lawful action as the Indenture Trustee may request to cause the Issuer to compel or secure the performance and observance by the Seller, the Student Loan Marketing Association, the Administrator Seller and the Master Servicer, as applicable, of each of their obligations to the Issuer, whether directly or by assignment, Issuer under or in connection with the Mortgage Loan Sale and Contribution Agreement, the Purchase Agreement, the Administration Agreement Subsequent Mortgage Loan Sale and Contribution Agreements and the Servicing Agreement, respectively, in accordance with the terms thereof, and to exercise any and all rights, remedies, powers and privileges lawfully available to the Issuer under or in connection with the Mortgage Loan Sale and Contribution Agreement, the Purchase Agreement, the Administration Agreement Subsequent Mortgage Loan Sale and Contribution Agreements and the Servicing Agreement, as the case may be, Agreement to the extent and in the manner directed by the Indenture Trustee, as pledgee of the Mortgage Loans, including the transmission of notices of default on the part of the Seller, the Student Loan Marketing Association, the Administrator Seller or the Master Servicer thereunder and the institution of legal or administrative actions or proceedings to compel or secure performance by the Seller, the Student Loan Marketing Association, the Administrator Seller or the Master Servicer of each of their obligations under the Mortgage Loan Sale and Contribution Agreement, the Purchase Agreement, the Administration Agreement Subsequent Mortgage Loan Sale and Contribution Agreements and the Servicing Agreement, respectively.

Performance and Enforcement of Certain Obligations. (a) Promptly following a request from the Indenture Trustee to do so and at the Administrator's expenseso, the Issuer in its capacity as holder of the Mortgage Loans, shall take all such lawful action as the Indenture Trustee may request to cause the Issuer to compel or secure the performance and observance by the Seller, the Student Loan Marketing Association, the Administrator Seller and the Master Servicer, as applicable, of each of their obligations to the Issuer, whether directly or by assignment, Issuer under or in connection with the Mortgage Loan Sale and Contribution Agreement, the Purchase Agreement, the Administration Subsequent Mortgage Loan Sale and Contribution Agreement and the Servicing Agreement, respectively, in accordance with the terms thereof, and to exercise any and all rights, remedies, powers and privileges lawfully available to the Issuer under or in connection with the Mortgage Loan Sale and Contribution Agreement, the Purchase Agreement, the Administration Subsequent Mortgage Loan Sale and Contribution Agreement and the Servicing Agreement, as the case may be, Agreement to the extent and in the manner directed by the Indenture Trustee, as pledgee of the Mortgage Loans, including the transmission of notices of default on the part of the Seller, the Student Loan Marketing Association, the Administrator Seller or the Master Servicer thereunder and the institution of legal or administrative actions or proceedings to compel or secure performance by the Seller, the Student Loan Marketing Association, the Administrator Seller or the Master Servicer of each of their obligations under the Mortgage Loan Sale and Contribution Agreement, the Purchase Agreement, the Administration Subsequent Mortgage Loan Sale and Contribution Agreement and the Servicing Agreement, respectively.