Loan Participation Purchase Program definition

Loan Participation Purchase Program means the program enacted pursuant to Section 459A of the Higher Education Act under which the Department purchases participation interests in FFELP loans held by Eligible Lenders, acting as sponsors, that have elected to participate in such program pursuant to a master participation agreement.
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Examples of Loan Participation Purchase Program in a sentence

  • If the Undersigned participates in the Loan Participation Purchase Program, it will sell, from time to time, participation interests in FFELP loans to the Department of Education with an aggregate unpaid principal balance of not less than $50,000,000 in loans either held by such eligible lender or aggregated with other FFELP loans held by one or more eligible lenders.

  • Separately, the Department is offering a Loan Participation Purchase Program (as referred to in the Notice of Intent to Participate) for eligible FFELP loans.

  • CHECK THE APPLICABLE BOX(ES): □ Loan Purchase Commitment Program □ Loan Participation Purchase Program and the Loan Purchase Commitment Program By signifying its intent to participate in such program(s), the Undersigned hereby certifies and agrees that: If the Undersigned participates in either of the programs, it will continue to originate or acquire FFELP loans made to students and parents.

  • In March 2009, the Program began participating in the U.S. Department of Education (ED) Loan Participation Purchase Program, which was created under the “Ensuring Continued Access to Student Loans Act of 2008” (Pub.

  • Separately, the Department is offering a Loan Participation Purchase Program for eligible FFELP loans.

  • PARTICIPATION LINE OF CREDITIn March 2009, the Program began participating in the U.S. Department of Education (ED) Loan Participation Purchase Program, which was created under the “Ensuring Continued Access to Student Loans Act of 2008” (Pub.

  • By executing and delivering to the Department this 2009 Notice of Intent, the Undersigned now possesses an option to participate in the Loan Purchase Commitment Program and the Loan Participation Purchase Program.

  • The count of noncompliant loans should match the number of loans, failing to meet one or more of the eligibility requirements, as detailed in the schedule of Loan Level Testing Results (Attachment 12) for the Loan Participation Purchase Program or (Attachment 13) for the Loan Purchase Commitment Program.

  • Under the terms of the Agreement, RBC provided a$50,000,000 revolving credit facility to the Authority which could be used to cover disbursements of eligible student and parent loans prior to inclusion in the Loan Participation Purchase Program established by the U.S. Department of Education under the Ensuring Continued Access to Student Loans Act of 2008 (ECASLA).

  • The Loan Participation Purchase Program for the 2008-2009 academic year ended on September 30, 2009.

Related to Loan Participation Purchase Program

  • Direct Loan Participation means a Loan in respect of which, pursuant to a participation agreement, the Issuer is capable of creating, or procuring the creation of, a contractual right in favour of a notional protection seller that provides such notional seller with recourse to the participation seller for a specified share in any payments due under the relevant Loan which are received by such participation seller, any such agreement to be entered into between (i) such notional seller and (ii) either (A) the Issuer (to the extent the Issuer was then a lender or a member of the relevant lending syndicate), or (B) a Qualifying Participation Seller (if any) (to the extent such Qualifying Participation Seller is then a lender or a member of the relevant lending syndicate);

  • L/C Participation shall have the meaning provided in Section 3.3(a).

  • Participation Commitment means each Lender’s obligation to buy a participation of the Letters of Credit issued hereunder.

  • Lender Participation Notice has the meaning specified in Section 2.05(d)(iii).

  • Participation Date means the date the individual becomes a qualified participant in Tier 2 as determined under section 701a(1)(b).

  • Participation Maximum shall have the meaning ascribed to such term in Section 4.12(a).

  • Participation Facility means any facility or property in which the Party in question or any of its Subsidiaries participates in the management and, where required by the context, said term means the owner or operator of such facility or property, but only with respect to such facility or property.

  • Participation Interests shall have the meaning specified in subsection 2.09(a)(ii).

  • Participation Interest means the Extension of Credit by a Lender by way of a purchase of a participation in Letters of Credit or LOC Obligations as provided in Section 2.2 or in any Loans as provided in Section 3.8.

  • Participation Period means a period during which contributions may be made toward the purchase of Stock under the Plan, as determined pursuant to Section 6.

  • Participation Advance shall have the meaning set forth in Section 2.12(d).

  • Participation Factor means a percentage to be determined in the reasonable discretion of the Issuer (billiges Ermessen) (§ 315 BGB) on the Strike Date on the basis of the volatility of the Index and the market conditions prevailing on such date and will be published in accordance with § 14 hereof. The indication for the Participation Factor based on the market conditions as of 9 March 2018 is 200% (in any case, it will not be below 170%).

  • Applicable Participation Agreement Has the meaning specified in Section 5.01(b) of this Trust Supplement.

  • Unit Participation means the ratio of the surface acreage of a specific tract in the unit area to the total surface acreage of the unit area as that total surface acreage is specified in paragraph one of the Plan for Unit Operations of this order.

  • Participation Percentage means the rounded percentage of the total actual Project costs that will be contributed by the OPWC, not to exceed the maximum dollar contribution of the OPWC identified in this Project Agreement, and the rounded percentage of the total actual Project costs that will be contributed by the Recipient. Both percentages are identified in Appendix B. If the total actual Project costs exceed the estimated Project costs identified in Appendix B, the Local Subdivision Participation Percentage will increase to reflect the cost overrun, while the OPWC percentage contribution will decrease recognizing that there is a maximum dollar contribution from the OPWC which is identified in this Project Agreement.

  • Participation Amount as defined in Section 3.4(b).

  • Participation Fee means the amount payable by the Participant to the Council for the right to participate in the Hong Kong Pavilion at the Exhibition, as specified in Section I of the Application Form.

  • L/C Participation Fee shall have the meaning assigned to such term in Section 2.05(c).

  • Swingline Participation Amount as defined in Section 2.7(c).

  • Optional Purchase Percentage means 5%.

  • Active participation means an ongoing process of good faith negotiation between the state licensing agency and the Indiana elected committee of licensed managers to achieve joint planning of:

  • Swing Line Loan Participation Certificate a certificate in substantially the form of Exhibit I.

  • Participation Percentages means the percentage of the total actual project costs that will be contributed by the OPWC, not to exceed the maximum dollar contribution of the OPWC identified in this Project Agreement, and the percentage of the total actual project costs that will be contributed by the Recipient. Both of the percentages are identified in Appendix D. In the event that the total actual project costs exceed the estimated project costs identified in Appendix D, the Local Subdivision Participation Percentage will increase to reflect the cost overrun, while the OPWC percentage contribution will decrease recognizing that there is a maximum dollar contribution from the OPWC which is identified in this Project Agreement.

  • Material Participation means involvement in the development and operation of the project on a basis which is regular, continuous, and substantial as defined in Code Section 42 and 469(h) of the regulations promulgated hereunder.

  • Swing Line Participation Amount as defined in Section 2.7(c).

  • Participation Agreements as defined in this Trust Supplement are the "Note Purchase Agreements" referred to in the Basic Agreement.