CONDITIONS PRECEDENT TO PURCHASE OR SUBSTITUTION Sample Clauses
The "Conditions Precedent to Purchase or Substitution" clause defines the specific requirements that must be satisfied before a purchase or substitution transaction can proceed. Typically, these conditions may include obtaining necessary approvals, delivering certain documents, or meeting regulatory or contractual obligations. By clearly outlining these prerequisites, the clause ensures that both parties are protected and that the transaction only occurs when all agreed-upon standards are met, thereby reducing the risk of disputes or incomplete transactions.
CONDITIONS PRECEDENT TO PURCHASE OR SUBSTITUTION. Any purchase or substitution of Loans pursuant to these Master Terms is subject to the following conditions precedent being satisfied (and SLM ECFC, by accepting payment, shall be deemed to have certified that all such conditions are satisfied on the date of such purchase):
(A) Activities Prior to the Related Purchase Date SLM ECFC shall provide any assistance requested by Funding in determining that all required documentation on the related Loans is present and correct.
(B) Continued Servicing Following the execution of each Purchase Agreement, SLM ECFC shall service, or cause to be serviced, all Loans subject to such Purchase Agreement as required under the Higher Education Act until the date of the related ▇▇▇▇ of Sale.
(C) ▇▇▇▇ of Sale/Loan Transmittal Summary Form SLM ECFC shall deliver to Funding:
(i) a ▇▇▇▇ of Sale that (a) has been duly authorized, executed and delivered, by an authorized officer of SLM ECFC, covering the applicable Loans offered by SLM ECFC, (b) has been accepted by Funding as set forth thereon, selling, assigning and conveying to the Interim Eligible Lender Trustee on behalf of Funding and its assignees all right, title and interest of SLM ECFC, including the insurance interest of SLM ECFC, in each of the related Loans, and (c) states that the representations and warranties made by SLM ECFC in Sections 5(A) and (B) of these Master Terms are true and correct on and as of the date of the ▇▇▇▇ of Sale; and
(ii) the Loan Transmittal Summary Form, attached to the ▇▇▇▇ of Sale, identifying each of the Eligible Loans which is the subject of the ▇▇▇▇ of Sale and setting forth the unpaid Principal Balance of each such Loan.
CONDITIONS PRECEDENT TO PURCHASE OR SUBSTITUTION. Any purchase or substitution of Loans pursuant to these Master Terms is subject to the following conditions precedent being satisfied (and Town Hall Funding, by accepting payment, shall be deemed to have certified that all such conditions are satisfied on the date of such purchase):
(A) Activities Prior to the Related Purchase Date Town Hall Funding shall provide any assistance requested by Funding in determining that all required documentation on the related Loans is present and correct.
(B) Continued Servicing Following the execution of each Purchase Agreement, Town Hall Funding shall service, or cause to be serviced, all Loans subject to such Purchase Agreement as required under the Higher Education Act until the date of the related ▇▇▇▇ of Sale.
(C) ▇▇▇▇ of Sale/Loan Transmittal Summary Form Town Hall Funding shall deliver to Funding:
(i) a ▇▇▇▇ of Sale that (a) has been duly authorized, executed and delivered, by authorized officers of Town Hall Funding and the Town Hall Funding Eligible Lender Trustee for the benefit of Town Hall Funding, covering the applicable Loans offered by Town Hall Funding and the Town Hall Funding Eligible Lender Trustee for the benefit of Town Hall Funding, (b) has been accepted by Funding as set forth thereon, selling, assigning and conveying to Funding and the Interim Eligible Lender Trustee, on behalf of Funding, and their assignees, all right, title and interest of Town Hall Funding and the Town Hall Funding Eligible Lender Trustee for the benefit of Town Hall Funding, including the insurance interest of the Town Hall Funding Eligible Lender Trustee for the benefit of Town Hall Funding, in each of the related Loans, and (c) states that the representations and warranties made by Town Hall Funding in Sections 5(A) and (B) of these Master Terms are true and correct on and as of the date of the related ▇▇▇▇ of Sale; and
(ii) the Loan Transmittal Summary Form, attached to the related ▇▇▇▇ of Sale, identifying each of the Eligible Loans which is the subject of the related ▇▇▇▇ of Sale and setting forth the unpaid Principal Balance of each such related Loan.
(D) Endorsement Town Hall Funding and the Town Hall Funding Eligible Lender Trustee for the benefit of Town Hall Funding shall provide a blanket endorsement transferring the entire interest of Town Hall Funding and the Town Hall Funding Eligible Lender Trustee for the benefit of Town Hall Funding in the related Eligible Loans to Funding and the Interim Eligible Lender Trust...
CONDITIONS PRECEDENT TO PURCHASE OR SUBSTITUTION. Any purchase or substitution of Loans pursuant to these Master Terms is subject to the following conditions precedent being satisfied (and VG Funding, by accepting payment, shall be deemed to have certified that all such conditions are satisfied on the date of such purchase):
(A) Activities Prior to the Related Purchase Date VG Funding shall provide any assistance requested by Funding in determining that all required documentation on the related Loans is present and correct.
CONDITIONS PRECEDENT TO PURCHASE OR SUBSTITUTION. Any purchase or substitution of Loans pursuant to this Master Terms Purchase Agreement is subject to the following conditions precedent being satisfied (and SLC, by accepting payment, shall be deemed to have certified that all such conditions are satisfied on the date of such purchase):
CONDITIONS PRECEDENT TO PURCHASE OR SUBSTITUTION. Any purchase or substitution of Loans pursuant to these Master Terms is subject to the following conditions precedent being satisfied (and SLM ECFC, by accepting payment, shall be deemed to have certified that all such conditions are satisfied on the date of such purchase):
(A) Activities Prior to the Related Purchase Date SLM ECFC shall provide any assistance requested by Funding in determining that all required documentation on the related Loans is present and correct.
CONDITIONS PRECEDENT TO PURCHASE OR SUBSTITUTION. Any purchase or substitution of Loans pursuant to this Master Terms Purchase Agreement is subject to the following conditions precedent being satisfied (and the Purchaser, by accepting payment, shall be deemed to have certified that all such conditions are satisfied on the date of such purchase):
CONDITIONS PRECEDENT TO PURCHASE OR SUBSTITUTION. Any purchase or substitution of Loans pursuant to these Master Terms is subject to the following conditions precedent being satisfied (and Navient CFC, by accepting payment, shall be deemed to have certified that all such conditions are satisfied on the date of such purchase):
(A) Activities Prior to the Related Purchase Date Navient CFC shall provide any assistance requested by Funding in determining that all required documentation on the related Loans is present and correct.
CONDITIONS PRECEDENT TO PURCHASE OR SUBSTITUTION. Each sale or substitution of Loans pursuant to this Purchase Agreement or any Subsequent Purchase Agreement, as applicable, is subject to the following conditions precedent being satisfied (and the Seller, by accepting payment, shall be deemed to have certified that all such conditions are satisfied on the date of such sale or substitution):
CONDITIONS PRECEDENT TO PURCHASE OR SUBSTITUTION. SECTION 4.1 Activities Prior to the Related Purchase Date SECTION 4.2 Continued Servicing SECTION 4.3 ▇▇▇▇ of Sale/Loan Transmittal Summary Form 8 SECTION 4.4 Endorsement.
CONDITIONS PRECEDENT TO PURCHASE OR SUBSTITUTION. SECTION 4.1 Activities Prior to the Related Purchase Date
SECTION 4.2 Continued Servicing SECTION 4.3 ▇▇▇▇ of Sale/Loan Transmittal Summary Form 7 SECTION 4.4 Endorsement. SECTION 4.5 Officers’ Certificate 7 SECTION 4.6 Loan Transfer Statement SECTION 4.7 Power of Attorney SECTION 4.8 Contemporaneous Sale SECTION 5.1 General Representations and Warranties of the Seller