Common use of Administrator Default Clause in Contracts

Administrator Default. If any one of the following events (an “Administrator Default”) shall occur and be continuing: (a) (i) in the event that daily deposits into the Collection Account are not required, any failure by the Administrator to deliver to the Indenture Trustee for deposit in the Trust Accounts any Available Funds required to be paid on or before the Business Day immediately preceding any Distribution Date; or

Appears in 31 contracts

Sources: Administration Agreement (Navient Student Loan Trust 2015-3), Administration Agreement (Navient Student Loan Trust 2015-2), Administration Agreement (Navient Student Loan Trust 2015-1)

Administrator Default. If any one of the following events (an “Administrator Default”) shall occur and be continuing: (a) (i) in the event that daily deposits into the Collection Account are not required, any failure by the Administrator to deliver to the Indenture Trustee for deposit in the Trust Accounts any Available Funds required to be paid on or before the Business Day immediately preceding any Distribution Monthly Servicing Payment Date; , or

Appears in 23 contracts

Sources: Administration Agreement (SLM Funding LLC), Administration Agreement (SLM Student Loan Trust 2005-4), Administration Agreement (SLM Student Loan Trust 2006-6)

Administrator Default. If any one of the following events (an "Administrator Default") shall occur and be continuing: (a) (i) in the event that daily deposits into the Collection Account are not required, any failure by the Administrator to deliver to the Indenture Trustee Administrator for deposit in the Trust Accounts any Available Funds required to be paid on or before the Business Day immediately preceding any Distribution Monthly Servicing Payment Date; , or

Appears in 8 contracts

Sources: Administration Agreement (SLC Student Loan Trust 2005-1), Administration Agreement (SLC Student Loan Receivables I Inc), Administration Agreement (SLC Student Loan Trust 2005-3)

Administrator Default. If any one of the following events (an “Administrator Default”) shall occur and be continuing: (a) (i) in the event that daily deposits into the Collection Account are not required, any failure by the Administrator to deliver to the Indenture Trustee for deposit in the Trust Accounts any Available Funds required to be paid on or before the Business Day immediately preceding any Monthly Allocation Date or Quarterly Distribution Date, as applicable; or

Appears in 7 contracts

Sources: Administration Agreement (SLM Student Loan Trust 2008-8), Administration Agreement (SLM Student Loan Trust 2008-9), Administration Agreement (SLM Student Loan Trust 2008-7)

Administrator Default. If any one of the following events (an “Administrator Default”) shall occur and be continuing: (a) (i) in the event that daily deposits into the Collection Account are not required, any failure by the Administrator to deliver to the Indenture Trustee for deposit in the Trust Accounts any Available Funds required to be paid on or before the Business Day immediately preceding any Monthly Servicing Payment Date or Distribution Date; , as applicable, or

Appears in 3 contracts

Sources: Administration Agreement (SLM Funding LLC), Administration Agreement (SLM Funding LLC), Administration Agreement (SLM Funding LLC)

Administrator Default. If any one of the following events (an "Administrator Default") shall occur and be continuing: (a) (i) in the event that daily deposits into the Collection Account are not required, any failure by the Administrator to deliver to the Indenture Trustee for deposit in the Trust Accounts any Available Funds required to be paid on or before the Business Day immediately preceding any Distribution Monthly Servicing Payment Date; , or

Appears in 3 contracts

Sources: Administration Agreement (SLM Funding LLC), Administration Agreement (SLM Funding LLC), Administration Agreement (SLM Funding LLC)

Administrator Default. If any one of the following events (an "Administrator Default") shall occur and be continuing: (a) (i) in the event that daily deposits into the Collection Account are not required, any failure by the Administrator to deliver to the Indenture Trustee for deposit in the Trust Accounts any Available Funds required to be paid on or before the Business Day immediately preceding any Monthly Servicing Payment Date or Distribution Date; , as applicable, or

Appears in 3 contracts

Sources: Administration Agreement Supplement (SLM Funding LLC), Administration Agreement (SLM Funding LLC), Administration Agreement (SLM Funding LLC)

Administrator Default. If any one of the following events (an “Administrator Default”) shall occur and be continuing: (a) (i) in the event that daily deposits into the Collection Account are not required, any failure by the Administrator to deliver to the Indenture Trustee for deposit in the Trust Accounts any Available Funds required to be paid on or before the Business Day immediately preceding any Monthly Allocation Date or Quarterly Distribution Date; , as applicable, or

Appears in 2 contracts

Sources: Administration Agreement (SLM Student Loan Trust 2007-5), Administration Agreement (SLM Student Loan Trust 2006-7)

Administrator Default. If any one of the following events (an “Administrator Default”) shall occur and be continuing: (a) (i) in the event that daily deposits into the Collection Account are not required, any failure by the Administrator to deliver to the Indenture Trustee for deposit in the Trust Accounts any Available Funds required to be paid on or before the Business Day immediately preceding any Monthly Allocation Date or Quarterly Distribution Date; or, as applicable, or Administration Agreement

Appears in 1 contract

Sources: Administration Agreement (SLM Student Loan Trust 2007-4)

Administrator Default. If any one of the following events (an “Administrator Default”) shall occur and be continuing: (a) (i) in the event that daily deposits into the Collection Account are not required, any failure by the Administrator to deliver to the Indenture Trustee for deposit in the Trust Administration Agreement Accounts any Available Funds required to be paid on or before the Business Day immediately preceding any Monthly Allocation Date or Quarterly Distribution Date, as applicable; or

Appears in 1 contract

Sources: Administration Agreement (SLM Student Loan Trust 2008-6)

Administrator Default. If any one of the following events (an "Administrator Default") shall occur and be continuing: (a) (i) in the event that daily deposits into the Collection Account are not required, any failure by the Administrator to deliver to the Indenture Trustee for deposit in the Trust Accounts any Available Funds required to be paid on or before the Business Day immediately preceding any Monthly Servicing Payment Date or Distribution Date; or, as applicable, or (ii) any failure by the Administrator to direct the Indenture

Appears in 1 contract

Sources: Administration Agreement (SLM Funding Corp)