Exhibit 1.4
EXECUTION COPY
TRANS-WORLD INSURANCE COMPANY
CLASSNOTES, INC.
Auction Rate Asset Backed Notes
TERMS AGREEMENT
Dated: December 19, 1997
To: TRANS-WORLD INSURANCE COMPANY
CLASSNOTES, INC.
Re: Underwriting Agreement dated December 19, 1997
Issuer: ClassNotes Trust 1997-I
Series Designation: Series 1997-2
TERMS OF THE NOTES:
ORIGINAL
FINAL MATURITY PRINCIPAL INTEREST PRICE TO
CLASS DATE AMOUNT RATE UNDERWRITERS
----- -------------- --------- -------- ------------
A-5 April 1, 2019 $57,500,000 5.96% 99.75%
A-6 April 1, 2020 $57,500,000 5.96% 99.75%
COLLATERAL: The Student Loans to be included in the Collateral
are as described in Schedule A to the Sale and Servicing
Agreement.
CREDIT SUPPORT: Note Surety Bond issued by Ambac Assurance Corporation.
INITIAL NOTE
DISTRIBUTION
DATES: January 14, 1998 for the Class A-5 Notes
January 21, 1998 for the Class A-6 Notes
NOTE RATING: "AAA" by Standard and Poor's Ratings Services, a
Division of The ▇▇▇▇▇▇-▇▇▇▇ Companies, Inc. and "Aaa" by
▇▇▇▇▇'▇ Investors Service, Inc.
FORM OF NOTES: Book entry
CLOSING DATE: December 24, 1997
Information Provided by the Underwriter in the Prospectus Supplement: The
statements set forth under the heading "Plan of Distribution."
Additional Terms, if any, Not in Master Indenture:
▇▇▇▇▇ ▇▇▇▇▇▇ INC.
By:/s/ ▇▇▇▇ ▇▇▇▇▇▇
Name: ▇▇▇▇ ▇▇▇▇▇▇
Title: Director
TRANS-WORLD INSURANCE COMPANY
By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: Senior Vice President
CLASSNOTES, INC.
By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: Senior Vice President
CLASSNOTES TRUST 1997-I
By: The York Bank and Trust
Company, as Eligible Lender Trustee
By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇
Name: ▇▇▇▇▇▇▇ ▇▇▇▇
Title: Vice President
THE MONEY STORE INC.
By:/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: Executive Vice President