(Line I.F ( I.G.4):
to 1
Maximum permitted: 1.5:1.0
II.
Section 7.11(b) - Consolidated Leverage Ratio.
A.
Consolidated Funded Indebtedness at Statement Date:
$
B.
Consolidated EBITDA for Subject Period (Line
I.A.9):
$
C.
Consolidated Leverage Ratio (Line II.A (
II.B):
to 1
Maximum permitted: 2.0:1.0
III.
Section 7.11(c) - Composite DOE Financial Responsibility Ratio.
A.
DOE Ratio as of most recent fiscal year end:
Minimum permitted: 2.0:1.0
IV.
Section 7.11(d) - Cohort Default Rate.
A.
Cohort Default Rate of each School
For the most recent "cohort
fiscal year"
[See Attached Schedule]:
[in][not in] compliance
V.
Section 7.11(e) - Institutional Student Loans.
A.
10% of Consolidated Net Worth as of Statement Date:
$
B.
Net Institutional Student Loans as of Statement
Date:
$
Maximum permitted: Line V.A
2
Including Attributable Indebtedness but excluding required prepayments of the
Loans pursuant to Section 2.05 of the Agreement.
For the Quarter/Year ended
("Statement Date")
SCHEDULE 1
to the Compliance Certificate
Cohort Default Rate
EXHIBIT E-1
ASSIGNMENT AND ASSUMPTION
This Assignment and Assumption (this "Assignment and Assumption") is dated as of
the Effective Date set forth below and is entered into by and between
[the][each]1 Assignor identified in item 1 below ([the][each, an] "Assignor")
and [the][each]2 Assignee identified in item 2 below ([the][each, an]
"Assignee"). [It is understood and agreed that the rights and obligations of
[the Assignors][the Assignees]3 hereunder are several and not joint.]4
Capitalized terms used but not defined herein shall have the meanings given to
them in the Credit Agreement identified below (the "Credit Agreement"), receipt
of a copy of which is hereby acknowledged by the Assignee. The Standard Terms
and Conditions set forth in Annex 1 attached hereto are hereby agreed to and
incorporated herein by reference and made a part of this Assignment and
Assumption as if set forth herein in full.
For an agreed consideration, [the][each] Assignor hereby irrevocably sells and
assigns to [the Assignee][the respective Assignees], and [the][each] Assignee
hereby irrevocably purchases and assumes from [the Assignor][the respective
Assignors], subject to and in accordance with the Standard Terms and Conditions
and the Credit Agreement, as of the Effective Date inserted by the
Administrative Agent as contemplated below (i) all of [the Assignor's][the
respective Assignors'] rights and obligations in [its capacity as a
Lender][their respective capacities as Lenders] under the Credit Agreement and
any other documents or instruments delivered pursuant thereto to the extent
related to the amount and percentage interest identified below of all of such
outstanding rights and obligations of [the Assignor][the respective Assignors]
under the respective facilities identified below (including, without limitation,
the Letters of Credit and the Loans included in such facilities) and (ii) to the
extent permitted to be assigned under applicable law, all claims, suits, causes
of action and any other right of [the Assignor (in its capacity as a
Lender)][the respective Assignors (in their respective capacities as Lenders)]
against any Person, whether known or unknown, arising under or in connection
with the Credit Agreement, any other documents or instruments