Common use of SALE/PURCHASE OF ADDITIONAL LOANS Clause in Contracts

SALE/PURCHASE OF ADDITIONAL LOANS. (A) Requirements Relating to Additional Loans From time to time during the Funding Period, SLMA may sell Eligible Loans to Funding, and Funding has the obligation (but only to the extent that the Eligible Loans are contemporaneously sold to the Eligible Lender Trustee on behalf of the Trust in accordance with the Sale Agreement and the related Additional Sale Agreement) to purchase such Additional Loans from SLMA at the related Additional Loans Purchase Price set forth in the related Additional Purchase Agreement. The sale and purchase of Additional Loans pursuant to an Additional Purchase Agreement shall be consummated as set forth in this Section 3.2.