NOTIFICATION TO BORROWERS. The servicing agent on behalf of the Seller shall notify Borrowers under the FFELP Loans as required by the Higher Education Act of the assignment and transfer to the Trustee of the Seller's interest in such FFELP Loans and the Seller shall direct each Borrower to make all payments thereon directly to the Purchaser or as it may otherwise designate.
Appears in 20 contracts
Sources: Loan Purchase Agreement (Nelnet Student Loan Funding LLC), Loan Purchase Agreement (Nelnet Student Loan Trust 2008-1), Loan Purchase Agreement (Nelnet Student Loan Trust 2005-3)
NOTIFICATION TO BORROWERS. The servicing agent on behalf of the Seller shall notify Borrowers under the FFELP Loans as required by the Higher Education Act of the assignment and transfer to the Purchaser Trustee of the Seller's interest in such FFELP Loans and the Seller shall direct each Borrower to make all payments thereon directly to the Purchaser or as it may otherwise designate.
Appears in 5 contracts
Sources: Ffelp Loan Purchase Agreement (College Loan LLC), Loan Sale and Contribution Agreement (SLC Student Loan Receivables I Inc), Loan Sale and Contribution Agreement (SLC Student Loan Asset Backed Notes Series 2002-1)
NOTIFICATION TO BORROWERS. The servicing agent on behalf of the Seller shall notify Borrowers under the FFELP Loans as required by the Higher Education Act of the assignment and transfer to the Trustee of the Seller's interest in such FFELP Loans and the Seller shall direct each Borrower to make all payments thereon directly to the Purchaser Corporation or as it may otherwise designate.
Appears in 3 contracts
Sources: Warehouse Note Purchase and Security Agreement (Nelnet Inc), Warehouse Loan and Security Agreement (Nelnet Inc), Warehouse Loan and Security Agreement (Nelnet Inc)
NOTIFICATION TO BORROWERS. The servicing agent on behalf of the Seller shall notify Borrowers under the FFELP Loans as required by the Higher Education Act of the assignment and transfer to the Eligible Lender Trustee of the Seller's interest in such FFELP Loans and the Seller shall direct each Borrower to make all payments thereon directly to the Purchaser Corporation or as it may otherwise designate.
Appears in 2 contracts
Sources: Indenture of Trust (Nelnet Inc), Indenture of Trust (Nelnet Education Loan Funding Inc)
NOTIFICATION TO BORROWERS. The servicing agent on behalf of the Seller shall notify Borrowers under the FFELP Loans as required by the Higher Education Act of the assignment and transfer to the Eligible Lender Trustee of the Seller's interest in such FFELP Loans Loans, and the Seller shall direct each Borrower to make all payments thereon directly to the Purchaser or as it may otherwise designate.
Appears in 2 contracts
Sources: Master Loan Sale Agreement (Pheaa Student Loan Foundation Inc), Master Loan Sale and Contribution Agreement (Pheaa Student Loan Foundation Inc)
NOTIFICATION TO BORROWERS. The servicing agent on behalf of the Seller shall notify Borrowers under the FFELP Loans as required by the Higher Education Act of the assignment and transfer to the Trustee of the Seller's ’s interest in such FFELP Loans and the Seller shall direct each Borrower to make all payments thereon directly to the Purchaser or as it may otherwise designate.
Appears in 2 contracts
Sources: Loan Purchase Agreement (Nelnet Student Loan Trust 2009-2), Loan Purchase Agreement (Goal Capital Funding, LLC)
NOTIFICATION TO BORROWERS. The servicing agent on behalf of the Seller shall notify Borrowers under the FFELP Loans as required by the Higher Education Act of the assignment and transfer to the Purchaser Trustee of the Seller's interest and the Seller Trustee's interests in such FFELP Loans and the Seller or its agent shall direct each Borrower to make all payments thereon directly to the Purchaser or as it may otherwise designate.
Appears in 1 contract
Sources: Loan Sale Agreement (Gmac Elf LLC)
NOTIFICATION TO BORROWERS. The servicing agent on behalf of the Seller shall notify Borrowers under the FFELP Loans as required by the Higher Education Act of the assignment and transfer to the Trustee Purchaser of the Seller's ’s and Trustee’s interest in such FFELP Loans and the Seller shall direct direct, and if appropriate shall cause the Trustee to direct, each Borrower to make all payments thereon directly to the Purchaser or as it may otherwise designate.
Appears in 1 contract
Sources: Loan Purchase Agreement (Nelnet Inc)