Document:

EX-4.2

INTERIM TRUST AGREEMENT

between

SLM FUNDING LLC,

as the Depositor

and

THE BANK OF NEW YORK MELLON TRUST COMPANY, NATIONAL ASSOCIATION,

not in its individual capacity but solely

as the Interim Eligible Lender Trustee

Dated as of April 9, 2009

TABLE OF CONTENTS

Page

	 	 	 
	ARTICLE IDefinitions and Usage

	 	

	ARTICLE IIAppointment of Interim Eligible Lender Trustee

	SECTION 2.1

SECTION 2.2

SECTION 2.3

	 	Appointment of Interim Eligible Lender Trustee

Declaration of Trust

Title to Interim Trust Loans
	ARTICLE IIIRepresentations and Warranties of the Depositor

	ARTICLE IVAuthority and Duties of Interim Eligible Lender Trustee

	SECTION 4.1

SECTION 4.2

SECTION 4.3

SECTION 4.4

SECTION 4.5

	 	General Authority

General Duties

No Duties Except as Specified in this Agreement

No Action Except Under Specified Documents

Restrictions
	ARTICLE VConcerning the Interim Eligible Lender Trustee

	SECTION 5.1

SECTION 5.2

SECTION 5.3

SECTION 5.4

	 	Acceptance of Trust and Duties

Representations and Warranties

Not Acting in Individual Capacity

Interim Eligible Lender Trustee Not Liable for the Interim Trust Loans
	ARTICLE VICompensation and Indemnity of Interim Eligible Lender Trustee

	ARTICLE VIITermination of Interim Trust Agreement

	ARTICLE VIIISuccessor Interim Eligible Lender Trustees

	SECTION 8.1

SECTION 8.2

SECTION 8.3

SECTION 8.4

ARTICLE IXMiscellaneous

SECTION 9.1

SECTION 9.2

SECTION 9.3

SECTION 9.4

SECTION 9.5

SECTION 9.6

SECTION 9.7

SECTION 9.8

SECTION 9.9

	 	Eligibility Requirements for Interim Eligible Lender Trustee

Resignation or Removal of Interim Eligible Lender Trustee

Successor Interim Eligible Lender Trustee

Merger or Consolidation of Interim Eligible Lender Trustee

Supplements and Amendments

Notices

Severability

Separate Counterparts

Successors and Assigns

Headings

Governing Law

Force Majeure

Waiver of Jury Trial

INTERIM TRUST AGREEMENT

INTERIM TRUST AGREEMENT (the “Agreement”), dated as of April 9, 2009, between SLM FUNDING LLC,
a Delaware limited liability company (the “Depositor”), and THE BANK OF NEW YORK MELLON TRUST
COMPANY, NATIONAL ASSOCIATION, a national banking association, not in its individual capacity but
solely as Interim Eligible Lender Trustee (the “Interim Eligible Lender Trustee”).

WHEREAS, the Depositor is a limited liability company established for the purpose of
purchasing Loans from SLM Education Credit Finance Corporation (“SLM ECFC”) and, among others,
Bluemont Funding LLC (“Bluemont Funding”), Town Center Funding LLC (“Town Center Funding”) and Town
Hall Funding LLC (“Town Hall Funding,” and together with SLM ECFC, Bluemont Funding and Town Center
Funding, the “Sellers”) for immediate resale to special purpose trusts established for the purpose
of financing the purchase of such Loans;

WHEREAS, on the Closing Date, the Depositor will enter into a separate Purchase Agreement with
each of the Sellers, and a Sale Agreement with SLM Student Loan Trust 2009-1 for the purpose of
effecting the purchase and resale of the Initial Trust Student Loans;

WHEREAS, during the Supplemental Purchase Period, the Depositor may purchase Additional Trust
Student Loans from one or more of the Sellers pursuant to the applicable Purchase Agreement and the
related Additional Purchase Agreements, for immediate resale to the Trust pursuant to the terms of
the Sale Agreement and the related Additional Sale Agreements (collectively, the Initial Trust
Student Loans and the Additional Trust Student Loans are referred to herein as the “Interim Trust
Loans”);

WHEREAS, pursuant to the terms of the Sale Agreement, the Depositor may be required, under
certain circumstances, to repurchase some of the Interim Trust Loans; and

WHEREAS, the Interim Eligible Lender Trustee is an “eligible lender” within the meaning of
Section 435(d) of the Higher Education Act and is willing to hold legal title to the Interim Trust
Loans on behalf and for the benefit of the Depositor.

NOW, THEREFORE, the Depositor and the Interim Eligible Lender Trustee hereby agree as follows:

ARTICLE I

Definitions and Usage

Except as otherwise specified herein or as the context may otherwise require, capitalized
terms used but not otherwise defined herein are defined in Appendix A to the Indenture dated as of
April 9, 2009, among the Issuer, the Eligible Lender Trustee on behalf of the Trust and the
Indenture Trustee, as may be amended or supplemented from time to time, which also contains rules
as to usage that shall be applicable herein.

ARTICLE II

Appointment of Interim Eligible Lender Trustee

SECTION 2.1 Appointment of Interim Eligible Lender Trustee. The Depositor hereby
appoints the Interim Eligible Lender Trustee, effective as of the date hereof, as trustee, to have
all the rights, powers and duties set forth herein, including, without limitation:

	 	a.	 	to hold legal title to the Interim Trust Loans on behalf and for the benefit of
the Depositor;

	 	b.	 	to enter into and perform its obligations as the Interim Eligible Lender
Trustee under this Agreement, the Purchase Agreements and the Sale Agreement (including
any Additional Purchase Agreements and Additional Sale Agreements entered into during
the Supplemental Purchase Period); and

	 	c.	 	to engage in those activities, including entering into agreements, that are
necessary, suitable or convenient to accomplish the foregoing or are incidental thereto
or connected therewith.

SECTION 2.2 Declaration of Trust. The Interim Eligible Lender Trustee hereby declares
that it will hold the Interim Trust Loans in trust upon and subject to the conditions set forth
herein for the use and benefit of the Depositor, subject to the obligations of the Interim Eligible
Lender Trustee under the Purchase Agreements and the Sale Agreement. Effective as of the date
hereof, the Interim Eligible Lender Trustee shall have all rights, powers and duties set forth
herein with respect to accomplishing the purposes of this Agreement.

SECTION 2.3 Title to Interim Trust Loans. Legal title to all of the Interim Trust
Loans shall be vested at all times in the Interim Eligible Lender Trustee on behalf of and for the
benefit of the Depositor.

ARTICLE III

Representations and Warranties of the Depositor

The Depositor hereby represents and warrants to the Interim Eligible Lender Trustee that:

	 	1.	 	It is duly organized and validly existing as a Delaware limited liability
company in good standing under the laws of the State of Delaware, with power and
authority to own its properties and to conduct its business as such properties are
currently owned and such business is presently conducted.

	 	2.	 	It has all necessary power and authority to execute and deliver this Agreement
and to carry out its terms; and the execution, delivery and performance of this
Agreement has been duly authorized by all necessary action.

	 	3.	 	This Agreement constitutes a legal, valid and binding obligation of the
Depositor enforceable in accordance with its terms, subject to applicable bankruptcy,
insolvency, reorganization and similar laws relating to creditors’ rights generally and
subject to general principles of equity.

	 	4.	 	The consummation of the transactions contemplated by this Agreement and the
fulfillment of the terms hereof do not conflict with, result in any breach of any of
the terms and provisions of, or constitute (with or without notice or lapse of time or
both) a default under, the certificate of formation or limited liability company
operating agreement, in effect as of the date hereof, of the Depositor, or any
indenture, agreement or other instrument to which the Depositor is a party or by which
it is bound; nor result in the creation or imposition of any Lien upon any of its
properties pursuant to the terms of any such indenture, agreement or other instrument
(other than as contemplated by the Basic Documents); nor violate any law or any order,
rule or regulation applicable to the Depositor of any court or of any Federal or state
regulatory body, administrative agency or other governmental instrumentality having
jurisdiction over the Depositor or its properties.

ARTICLE IV

Authority and Duties of Interim Eligible Lender Trustee

SECTION 4.1 General Authority. The Interim Eligible Lender Trustee is authorized and
directed to execute and deliver the Purchase Agreements, the Sale Agreement and this Agreement and
each certificate or other document attached as an exhibit to or contemplated by such agreements, in
each case, in such form as the Depositor shall approve as evidenced conclusively by the Interim
Eligible Lender Trustee’s execution thereof. The Interim Eligible Lender Trustee is also
authorized and directed on behalf and for the benefit of the Depositor to acquire and hold legal
title to the Interim Trust Loans and to take all actions required of the Interim Eligible Lender
Trustee pursuant to the Purchase Agreements, the Sale Agreement and this Agreement.

SECTION 4.2 General Duties. It shall be the duty of the Interim Eligible Lender
Trustee to discharge (or cause to be discharged) all its responsibilities as the Interim Eligible
Lender Trustee pursuant to the terms of the Purchase Agreements, the Sale Agreement and this
Agreement.

SECTION 4.3 No Duties Except as Specified in this Agreement. The Interim Eligible
Lender Trustee shall not have any duty or obligation to manage, make any payment with respect to,
register, record, sell, service, dispose of or otherwise deal with the Interim Trust Loans, or to
otherwise take or refrain from taking any action under, or in connection with, any document
contemplated hereby to which the Interim Eligible Lender Trustee is a party, except as expressly
provided by the terms of the Purchase Agreements, the Sale Agreement or this Agreement; and no
implied duties or obligations shall be read into this Agreement, the Purchase Agreements or the
Sale Agreement against the Interim Eligible Lender Trustee.

SECTION 4.4 No Action Except Under Specified Documents. The Interim Eligible Lender
Trustee shall not otherwise deal with the Interim Trust Loans except in accordance with the powers
granted to and the authority conferred upon the Interim Eligible Lender Trustee pursuant to this
Agreement, the Purchase Agreements and the Sale Agreement.

SECTION 4.5 Restrictions. The Interim Eligible Lender Trustee shall not take any
action that is inconsistent with the purposes of the Trust set forth in the Basic Documents.

ARTICLE V

Concerning the Interim Eligible Lender Trustee

SECTION 5.1 Acceptance of Trust and Duties. The Interim Eligible Lender Trustee
accepts the trust hereby created and agrees to perform its duties hereunder with respect to such
trust but only upon the terms of this Agreement. The Interim Eligible Lender Trustee shall not be
answerable or accountable hereunder or under the Purchase Agreements or the Sale Agreement under
any circumstances, except (i) for its own willful misconduct or negligence or (ii) in the case of
the inaccuracy of any representation or warranty contained in Section 5.2 below expressly made by
the Interim Eligible Lender Trustee. In particular, but not by way of limitation (and subject to
the exceptions set forth in the preceding sentence):

	 	1.	 	The Interim Eligible Lender Trustee shall not be liable for any error of
judgment made by a responsible officer of the Interim Eligible Lender Trustee.

	 	2.	 	No provision of this Agreement, the Purchase Agreements or the Sale Agreement
shall require the Interim Eligible Lender Trustee to expend or risk funds or otherwise
incur any financial liability in the performance of any of its rights or powers
hereunder or under the Purchase Agreements or the Sale Agreement, if the Interim
Eligible Lender Trustee shall have reasonable grounds for believing that repayment of
such funds or adequate indemnity against such risk or liability is not reasonably
assured or provided to it.

	 	3.	 	The Interim Eligible Lender Trustee shall not be responsible for or in respect
of the validity or sufficiency of this Agreement or for the due execution hereof by the
Depositor or for the form, character, genuineness, sufficiency, value or validity of
any of the Interim Trust Loans or for or in respect of the validity or sufficiency of
the Purchase Agreements or the Sale Agreement.

	 	4.	 	In no event shall the Interim Eligible Lender Trustee be responsible or liable
for special, indirect, or consequential loss or damage of any kind whatsoever
irrespective of whether the Interim Eligible Lender Trustee has been advised of the
likelihood of such loss or damage and regardless of the form of action.

SECTION 5.2 Representations and Warranties. The Interim Eligible Lender Trustee
hereby represents and warrants to the Depositor that:

	 	1.	 	It is duly organized and validly existing in good standing under the laws of
its governing jurisdiction and has an office located within the State of Florida, at
which it will act as trustee for the Trust. It has all requisite power and authority to
execute, deliver and perform its obligations under the Purchase Agreements, the Sale
Agreement and this Agreement.

	 	2.	 	It has taken all action necessary to authorize the execution and delivery by it
of the Purchase Agreements, the Sale Agreement and this Agreement, and the Purchase
Agreements, the Sale Agreement and this Agreement have been executed and delivered by
one of its officers who is duly authorized to execute and deliver the same on its
behalf.

	 	3.	 	Neither the execution nor the delivery by it of the Purchase Agreements, the
Sale Agreement or this Agreement, nor the consummation by it of the transactions
contemplated thereby or hereby nor compliance by it with any of the terms or provisions
thereof or hereof will contravene any Federal or Delaware state law, governmental rule
or regulation governing the banking or trust powers of the Interim Eligible Lender
Trustee or any judgment or order binding on it, or constitute any default under its
charter documents or by-laws or any indenture, mortgage, contract, agreement or
instrument to which it is a party or by which any of its properties may be bound.

	 	4.	 	It is and will maintain its status as an “eligible lender” (as such term is
defined in Section 435(d) of the Higher Education Act) for purposes of holding legal
title to the Interim Trust Loans as contemplated by this Agreement, the Purchase
Agreements and the Sale Agreement.

SECTION 5.3 Not Acting in Individual Capacity. Except as provided in this Article V,
in accepting the trust hereby created, The Bank of New York Mellon Trust Company, National
Association acts solely as Interim Eligible Lender Trustee hereunder and not in its individual
capacity.

SECTION 5.4 Interim Eligible Lender Trustee Not Liable for the Interim Trust Loans.
The Interim Eligible Lender Trustee makes no representations as to the validity or sufficiency of
this Agreement, the Purchase Agreements or the Sale Agreement, or of any Interim Trust Loan or
related documents. The Interim Eligible Lender Trustee shall at no time have any responsibility
for or with respect to the sufficiency of the Interim Trust Loans; the validity or completeness of
the assignment to the Interim Eligible Lender Trustee of legal title to any Interim Trust Loan on
behalf and for the benefit of the Depositor; the performance or enforcement (except as expressly
set forth in the Purchase Agreements or the Sale Agreement) of any Interim Trust Loan; the
compliance by the Depositor or the Servicer with any warranty or representation made under any
Basic Document or in any related document or the accuracy of any such warranty or representation or
any action or inaction of the Administrator, the Indenture Trustee or the Servicer or any
subservicer taken in the name of the Interim Eligible Lender Trustee.

ARTICLE VI

Compensation and Indemnity of Interim Eligible Lender Trustee

(a) The Interim Eligible Lender Trustee shall receive as compensation for its services
hereunder such fees as have been separately agreed upon before the date hereof between the
Depositor and the Interim Eligible Lender Trustee, and the Interim Eligible Lender Trustee shall be
entitled to be reimbursed by the Depositor, to the extent provided in such separate agreement, for
its other reasonable expenses hereunder.

(b) The Depositor shall cause the Administrator to indemnify the Interim Eligible Lender
Trustee in its individual capacity and any of its officers, directors, employees and agents as and
to the extent provided for in Section 4.2 of the Administration Agreement.

ARTICLE VII

Termination of Interim Trust Agreement

This Agreement (other than Article VI) and the trust created hereby shall terminate and be of
no further force or effect upon the earlier of (i) the termination of the Trust pursuant to Section
9.1 of the Trust Agreement and (ii) the expiration of 21 years from the death of the last survivor
of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of
St. James’s, living on the date hereof.

ARTICLE VIII

Successor Interim Eligible Lender Trustees

SECTION 8.1 Eligibility Requirements for Interim Eligible Lender Trustee. The Interim
Eligible Lender Trustee shall at all times be a corporation or banking association (i) qualifying
as an “eligible lender” as such term is defined in Section 435(d) of the Higher Education Act for
purposes of holding legal title to the Interim Trust Loans on behalf and for the benefit of the
Depositor, with a valid lender identification number with respect to the Interim Trust Loans from
the Department; and (ii) being authorized to exercise corporate trust powers and hold legal title
to the Interim Trust Loans. In case at any time the Interim Eligible Lender Trustee shall cease to
be eligible in accordance with the provisions of this Section, the Interim Eligible Lender Trustee
shall resign immediately in the manner and with the effect specified in Section 8.2.

SECTION 8.2 Resignation or Removal of Interim Eligible Lender Trustee. The Interim
Eligible Lender Trustee may at any time resign and be discharged from the trust hereby created by
giving written notice thereof to the Depositor. Upon receiving such notice of resignation, the
Depositor shall promptly appoint a successor Interim Eligible Lender Trustee meeting the
eligibility requirements of Section 8.1 by written instrument, in duplicate, one copy of which
instrument shall be delivered to the resigning Interim Eligible Lender Trustee and one copy to the
successor Interim Eligible Lender Trustee. If no successor Interim Eligible Lender Trustee shall
have been so appointed and have accepted appointment within 30 days after the giving of such notice
of resignation, the resigning Interim Eligible Lender Trustee may petition any court of competent
jurisdiction for the appointment of a successor Interim Eligible Lender Trustee; provided,
however, that such right to appoint or to petition for the appointment of any such
successor shall in no event relieve the resigning Interim Eligible Lender Trustee from any
obligations otherwise imposed on it under this Agreement, the Purchase Agreements or the Sale
Agreement until such successor has in fact assumed such appointment.

If at any time the Interim Eligible Lender Trustee shall cease to be or shall be likely to
cease to be eligible in accordance with the provisions of Section 8.1 and shall fail to resign
after written request therefor by the Depositor, then the Depositor may remove the Interim Eligible
Lender Trustee. If the Depositor shall remove the Interim Eligible Lender Trustee under the
authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor
Interim Eligible Lender Trustee by written instrument, in duplicate, one copy of which instrument
shall be delivered to the outgoing Interim Eligible Lender Trustee so removed and one copy to the
successor Interim Eligible Lender Trustee together with payment of all fees owed to the outgoing
Interim Eligible Lender Trustee.

Any resignation or removal of the Interim Eligible Lender Trustee and appointment of a
successor Interim Eligible Lender Trustee pursuant to any of the provisions of this Section shall
not become effective until acceptance of appointment by the successor Interim Eligible Lender
Trustee pursuant to Section 8.3 and payment of all fees and expenses owed to the outgoing Interim
Eligible Lender Trustee.

SECTION 8.3 Successor Interim Eligible Lender Trustee. Any successor Interim Eligible
Lender Trustee appointed pursuant to Section 8.2 shall execute, acknowledge and deliver to the
Depositor and to its predecessor Interim Eligible Lender Trustee an instrument accepting such
appointment under this Agreement, and thereupon the resignation or removal of the predecessor
Interim Eligible Lender Trustee shall become effective and such successor Interim Eligible Lender
Trustee, without any further act, deed or conveyance, shall become fully vested with all the
rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as
if originally named as Interim Eligible Lender Trustee. The predecessor Interim Eligible Lender
Trustee shall upon payment of its fees and expenses deliver to the successor Interim Eligible
Lender Trustee all documents, statements, moneys and properties held by it under this Agreement and
shall assign, if permissible, to the successor Interim Eligible Lender Trustee any lender
identification number obtained from the Department with respect to the Interim Trust Loans; and the
Depositor and the predecessor Interim Eligible Lender Trustee, at the sole cost and expense of the
Depositor, shall execute and deliver such instruments and do such other things as may reasonably be
required for fully and certainly vesting and confirming in the successor Interim Eligible Lender
Trustee all such rights, powers, duties and obligations.

No successor Interim Eligible Lender Trustee shall accept such appointment as provided in this
Section unless at the time of such acceptance such successor Interim Eligible Lender Trustee shall
be eligible pursuant to Section 8.1.

SECTION 8.4 Merger or Consolidation of Interim Eligible Lender Trustee. Any
corporation into which the Interim Eligible Lender Trustee may be merged or converted or with which
it may be consolidated, or any corporation or banking association resulting from any merger,
conversion or consolidation to which the Interim Eligible Lender Trustee shall be a party, or any
corporation succeeding to all or substantially all the corporate trust business of the Interim
Eligible Lender Trustee, shall, without the execution or filing of any instrument or any further
act on the part of any of the parties hereto, anything herein to the contrary notwithstanding, be
the successor of the Interim Eligible Lender Trustee hereunder; provided that such
corporation or banking association shall be eligible pursuant to Section 8.1.

ARTICLE IX

Miscellaneous

SECTION 9.1 Supplements and Amendments. This Agreement may be amended by the
Depositor and the Interim Eligible Lender Trustee, with prior written notice to the Rating
Agencies, without the consent of any of the Noteholders or any Excess Distribution
Certificateholder, to cure any ambiguity, to correct or supplement any provisions in this Agreement
or for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions in this Agreement; provided, however, that such action shall not, as
evidenced by an Opinion of Counsel, adversely affect in any material respect the interests of any
Noteholder or any Excess Distribution Certificateholder.

This Agreement may also be amended from time to time by the Depositor and the Interim Eligible
Lender Trustee, with prior written notice to the Rating Agencies and with the consent of the
Noteholders evidencing not less than a majority of the Outstanding Amount of the Notes, for the
purpose of adding any provisions to or changing in any manner or eliminating any of the provisions
of this Agreement; provided, however, that no such amendment shall reduce the
aforesaid percentage of the Outstanding Amount of the Notes required to consent to any such
amendment, without the consent of all the outstanding Noteholders.

Promptly after the execution of any such amendment or consent, the Interim Eligible Lender
Trustee shall furnish written notification of the substance of such amendment or consent to the
Indenture Trustee and each of the Rating Agencies.

It shall not be necessary for the consent of the Noteholders or the Excess Distribution
Certificateholder pursuant to this Section to approve the particular form of any proposed amendment
or consent, but it shall be sufficient if such consent shall approve the substance thereof. The
manner of obtaining such consents and of evidencing the authorization of the execution thereof
shall be subject to such reasonable requirements as the Interim Eligible Lender Trustee may
prescribe.

Prior to the execution of any amendment to this Agreement, the Interim Eligible Lender Trustee
shall be entitled to receive and rely upon an Opinion of Counsel stating that the execution of such
amendment is authorized or permitted by this Agreement. The Interim Eligible Lender Trustee may,
but shall not be obligated to, enter into any such amendment which affects the Interim Eligible
Lender Trustee’s own rights, duties or immunities under this Agreement or otherwise.

SECTION 9.2 Notices. Unless otherwise expressly specified or permitted by the terms
hereof, all notices shall be in writing and shall be deemed given upon receipt by the intended
recipient or three Business Days after mailing if mailed by certified mail, postage prepaid (except
that notice to the Interim Eligible Lender Trustee shall be deemed given only upon actual receipt
by the Interim Eligible Lender Trustee), if to the Interim Eligible Lender Trustee, addressed to
its Corporate Trust Office; if to the Depositor, addressed to SLM Funding LLC, 12061 Bluemont Way,
V3419, Reston, Virginia 20190, or, as to each party, at such other address as shall be designated
by such party in a written notice to each other party.

SECTION 9.3 Severability. Any provision of this Agreement that is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining provisions hereof, and any
such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

SECTION 9.4 Separate Counterparts. This Agreement may be executed by the parties
hereto in separate counterparts, each of which when so executed and delivered shall be an original,
but all such counterparts shall together constitute but one and the same instrument.

SECTION 9.5 Successors and Assigns. All covenants and agreements contained herein
shall be binding upon and to the benefit of, the Depositor and its successors and the Interim
Eligible Lender Trustee and its successors, all as herein provided.

SECTION 9.6 Headings. The headings of the various Articles and Sections herein are
for convenience of reference only and shall not define or limit any of the terms or provisions
hereof.

SECTION 9.7 Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of Delaware, without reference to its conflict of law
provisions, and the obligations, rights and remedies of the parties hereunder shall be determined
in accordance with such laws.

SECTION 9.8 Force Majeure. In no event shall the Interim Eligible Lender Trustee be
responsible or liable for any failure or delay in the performance of its obligations hereunder
arising out of or caused by, directly or indirectly, forces beyond its control, including, without
limitation, acts of war or terrorism, civil or military disturbances, nuclear or natural
catastrophes or acts of God; it being understood that the Interim Eligible Lender Trustee shall use
reasonable efforts which are consistent with accepted practices in the banking industry to resume
performance as soon as practicable under the circumstances.

SECTION 9.9 WAIVER OF JURY TRIAL. EACH OF THE PARTIES TO THIS AGREEMENT HEREBY
IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL
BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE NOTES OR THE
TRANSACTIONS CONTEMPLATED HEREBY.

IN WITNESS WHEREOF, the parties hereto have caused this Interim Trust Agreement to be duly
executed by their respective officers hereunto duly authorized, as of the day and year first above
written.

THE BANK OF NEW YORK MELLON TRUST COMPANY, NATIONAL
ASSOCIATION, not in its individual capacity but
solely

as the Interim Eligible Lender Trustee

By: /S/ MICHAEL G. RUPPEL

Name: Michael G. Ruppel

Title: Vice President

SLM FUNDING LLC,

as the Depositor

By: /S/ MARK D. REIN

Name: Mark D. Rein

Title: Vice PresidentEX-4.3

INTERIM TRUST AGREEMENT

between

BLUEMONT FUNDING LLC,

as the Seller

and

THE BANK OF NEW YORK MELLON TRUST COMPANY, NATIONAL ASSOCIATION,

not in its individual capacity but solely

as Eligible Lender Trustee for the benefit of Bluemont Funding LLC

Dated as of April 9, 2009

TABLE OF CONTENTS

Page

	 	 	 
	ARTICLE IDefinitions and Usage

	 	

	ARTICLE IIAppointment of Bluemont Funding Eligible Lender Trustee

	SECTION 2.1.

SECTION 2.2.

SECTION 2.3.

	 	Appointment of Bluemont Funding Eligible Lender Trustee

Declaration of Trust

Title to Interim Trust Loans
	ARTICLE IIIRepresentations and Warranties of Bluemont Funding

	ARTICLE IVAuthority and Duties of Bluemont Funding Eligible Lender Trustee

	SECTION 4.1.

SECTION 4.2.

SECTION 4.3.

SECTION 4.4.

SECTION 4.5.

	 	General Authority

General Duties

No Duties Except as Specified in this Agreement

No Action Except Under Specified Documents

Restrictions
	ARTICLE VConcerning the Bluemont Funding Eligible Lender Trustee

	SECTION 5.1.

SECTION 5.2.

SECTION 5.3.

	 	Acceptance of Trust and Duties

Representations and Warranties

Not Acting in Individual Capacity

	 	 	 	SECTION 5.4. Bluemont Funding Eligible Lender Trustee Not Liable for the Interim Trust
Loans	 

	 	 	 
	ARTICLE VICompensation and Indemnity of Bluemont Funding Eligible Lender Trustee

	ARTICLE VIITermination of Interim Trust Agreement

	ARTICLE VIIISuccessor Bluemont Funding Eligible Lender Trustees

	SECTION 8.1.

SECTION 8.2.

SECTION 8.3.

SECTION 8.4.

ARTICLE IXMiscellaneous

SECTION 9.1.

SECTION 9.2.

SECTION 9.3.

SECTION 9.4.

SECTION 9.5.

SECTION 9.6.

SECTION 9.7.

SECTION 9.8.

SECTION 9.9.

	 	Eligibility Requirements for Bluemont Funding Eligible Lender Trustee

Resignation or Removal of Bluemont Funding Eligible Lender Trustee

Successor Bluemont Funding Eligible Lender Trustee

Merger or Consolidation of Bluemont Funding Eligible Lender Trustee

Supplements and Amendments

Notices

Severability

Separate Counterparts

Successors and Assigns

Headings

Governing Law

Force Majeure

Waiver of Jury Trial

INTERIM TRUST AGREEMENT

INTERIM TRUST AGREEMENT (the “Agreement”), dated as of April 9, 2009, between Bluemont Funding
LLC (“Bluemont Funding”) as the Purchaser and subsequent Seller of certain Loans, and THE BANK OF
NEW YORK MELLON TRUST COMPANY, NATIONAL ASSOCIATION, a national banking association, not in its
individual capacity but solely as Eligible Lender Trustee (the “Bluemont Funding Eligible Lender
Trustee”).

WHEREAS, Bluemont Funding is a limited liability company established for the purpose of
purchasing Loans from subsidiaries or affiliates of SLM Corporation and selling Loans to, among
others, SLM Funding LLC (the “Depositor”) for resale to special purpose trusts established for the
purpose of financing the purchase of such Loans;

WHEREAS, on the Closing Date, Bluemont Funding has acquired certain Loans from subsidiaries or
affiliates of SLM Corporation, and will subsequently enter into a Purchase Agreement with the
Depositor, for the purpose of effecting the sale of such Loans to the Depositor;

WHEREAS, during the Supplemental Purchase Period, Bluemont Funding may acquire Additional
Trust Student Loans from subsidiaries or affiliates of SLM Corporation and subsequently enter into
one or more Additional Purchase Agreements with the Depositor, for the purpose of effecting the
sale of such Additional Trust Student Loans (collectively, the applicable Initial Trust Student
Loans and the applicable Additional Trust Student Loans are referred to herein as the “Interim
Trust Loans”);

WHEREAS, pursuant to the terms of the Purchase Agreement with the Depositor, Bluemont Funding
may be required, under certain circumstances, to repurchase some of the Interim Trust Loans; and

WHEREAS, the Eligible Lender Trustee is an “eligible lender” within the meaning of Section
435(d) of the Higher Education Act and is willing to hold legal title to the Interim Trust Loans on
behalf and for the benefit of Bluemont Funding.

NOW, THEREFORE, Bluemont Funding and the Bluemont Funding Eligible Lender Trustee hereby agree
as follows:

ARTICLE I

Definitions and Usage

Except as otherwise specified herein or as the context may otherwise require, capitalized
terms used but not otherwise defined herein are defined in Appendix A to the Indenture dated as of
April 9, 2009, among the Issuer, the Eligible Lender Trustee on behalf of the Trust and the
Indenture Trustee, as may be amended or supplemented from time to time, which also contains rules
as to usage that shall be applicable herein.

ARTICLE II

Appointment of Bluemont Funding Eligible Lender Trustee

SECTION 2.1. Appointment of Bluemont Funding Eligible Lender Trustee. Bluemont
Funding hereby appoints the Bluemont Funding Eligible Lender Trustee, effective as of the date
hereof, as trustee, to have all the rights, powers and duties set forth herein, including, without
limitation:

	 	a.	 	to hold legal title to the Interim Trust Loans on behalf and
for the benefit of Bluemont Funding;

	 	b.	 	to enter into and perform its obligations as the Bluemont
Funding Eligible Lender Trustee under this Agreement and the Bluemont Funding
Purchase Agreement (including any Additional Purchase Agreements entered into
during the Supplemental Purchase Period); and

	 	c.	 	to engage in those activities, including entering into
agreements, that are necessary, suitable or convenient to accomplish the
foregoing or are incidental thereto or connected therewith.

SECTION 2.2. Declaration of Trust. The Bluemont Funding Eligible Lender Trustee
hereby declares that it will hold the Interim Trust Loans in trust upon and subject to the
conditions set forth herein for the use and benefit of Bluemont Funding, subject to the obligations
of the Bluemont Funding Eligible Lender Trustee under the Bluemont Funding Purchase Agreement.
Effective as of the date hereof, the Bluemont Funding Eligible Lender Trustee shall have all
rights, powers and duties set forth herein with respect to accomplishing the purposes of this
Agreement.

SECTION 2.3. Title to Interim Trust Loans. Legal title to all of the Interim Trust
Loans shall be vested at all times in the Bluemont Funding Eligible Lender Trustee on behalf of and
for the benefit of Bluemont Funding.

ARTICLE III

Representations and Warranties of Bluemont Funding

Bluemont Funding hereby represents and warrants to the Bluemont Funding Eligible Lender
Trustee that:

	 	1.	 	It is duly organized and validly existing as a Delaware limited
liability company in good standing under the laws of the State of Delaware,
with power and authority to own its properties and to conduct its business as
such properties are currently owned and such business is presently conducted.

	 	2.	 	It has all necessary power and authority to execute and deliver
this Agreement and to carry out its terms; and the execution, delivery and
performance of this Agreement has been duly authorized by Bluemont Funding by
all necessary action.

	 	3.	 	This Agreement constitutes a legal, valid and binding
obligation of Bluemont Funding enforceable in accordance with its terms,
subject to applicable bankruptcy, insolvency, reorganization and similar laws
relating to creditors’ rights generally and subject to general principles of
equity.

	 	4.	 	The consummation of the transactions contemplated by this
Agreement and the fulfillment of the terms hereof do not conflict with, result
in any breach of any of the terms and provisions of, or constitute (with or
without notice or lapse of time or both) a default under, the certificate of
formation or limited liability company operating agreement, in effect as of the
date hereof, of Bluemont Funding, or any indenture, agreement or other
instrument to which Bluemont Funding is a party or by which it is bound; nor
result in the creation or imposition of any Lien upon any of its properties
pursuant to the terms of any such indenture, agreement or other instrument
(other than as contemplated by the Basic Documents); nor violate any law or any
order, rule or regulation applicable to Bluemont Funding of any court or of any
Federal or state regulatory body, administrative agency or other governmental
instrumentality having jurisdiction over Bluemont Funding or its properties.

ARTICLE IV

Authority and Duties of Bluemont Funding Eligible Lender Trustee

SECTION 4.1. General Authority. The Bluemont Funding Eligible Lender Trustee is
authorized and directed to execute and deliver the Bluemont Funding Purchase Agreement and this
Agreement and each certificate or other document attached as an exhibit to or contemplated by such
agreements, in each case, in such form as Bluemont Funding shall approve as evidenced conclusively
by the Bluemont Funding Eligible Lender Trustee’s execution thereof. The Bluemont Funding Eligible
Lender Trustee is also authorized and directed on behalf and for the benefit of Bluemont Funding to
acquire and hold legal title to the Interim Trust Loans and to take all actions required of the
Bluemont Funding Eligible Lender Trustee pursuant to the Bluemont Funding Purchase Agreement and
this Agreement.

SECTION 4.2. General Duties. It shall be the duty of the Bluemont Funding Eligible
Lender Trustee to discharge (or cause to be discharged) all its responsibilities as the Bluemont
Funding Eligible Lender Trustee pursuant to the terms of the Bluemont Funding Purchase Agreement
and this Agreement.

SECTION 4.3. No Duties Except as Specified in this Agreement. The Bluemont Funding
Eligible Lender Trustee shall not have any duty or obligation to manage, make any payment with
respect to, register, record, sell, service, dispose of or otherwise deal with the Interim Trust
Loans, or to otherwise take or refrain from taking any action under, or in connection with, any
document contemplated hereby to which the Bluemont Funding Eligible Lender Trustee is a party,
except as expressly provided by the terms of the Bluemont Funding Purchase Agreement or this
Agreement; and no implied duties or obligations shall be read into this Agreement or the Bluemont
Funding Purchase Agreement against the Bluemont Funding Eligible Lender Trustee.

SECTION 4.4. No Action Except Under Specified Documents. The Bluemont Funding
Eligible Lender Trustee shall not otherwise deal with the Interim Trust Loans except in accordance
with the powers granted to and the authority conferred upon the Bluemont Funding Eligible Lender
Trustee pursuant to this Agreement and the Bluemont Funding Purchase Agreement.

SECTION 4.5. Restrictions. The Bluemont Funding Eligible Lender Trustee shall not
take any action that is inconsistent with the purposes of the Trust set forth in the Basic
Documents.

ARTICLE V

Concerning the Bluemont Funding Eligible Lender Trustee

SECTION 5.1. Acceptance of Trust and Duties. The Bluemont Funding Eligible Lender
Trustee accepts the trust hereby created and agrees to perform its duties hereunder with respect to
such trust but only upon the terms of this Agreement. The Bluemont Funding Eligible Lender Trustee
shall not be answerable or accountable hereunder or under the Bluemont Funding Purchase Agreement
under any circumstances, except (i) for its own willful misconduct or negligence or (ii) in the
case of the inaccuracy of any representation or warranty contained in Section 5.2 below expressly
made by the Bluemont Funding Eligible Lender Trustee. In particular, but not by way of limitation
(and subject to the exceptions set forth in the preceding sentence):

	 	1.	 	The Bluemont Funding Eligible Lender Trustee shall not be
liable for any error of judgment made by a responsible officer of the Bluemont
Funding Eligible Lender Trustee.

	 	2.	 	No provision of this Agreement or the Bluemont Funding Purchase
Agreement shall require the Bluemont Funding Eligible Lender Trustee to expend
or risk funds or otherwise incur any financial liability in the performance of
any of its rights or powers hereunder or under the Bluemont Funding Purchase
Agreement, if the Bluemont Funding Eligible Lender Trustee shall have
reasonable grounds for believing that repayment of such funds or adequate
indemnity against such risk or liability is not reasonably assured or provided
to it.

	 	3.	 	The Bluemont Funding Eligible Lender Trustee shall not be
responsible for or in respect of the validity or sufficiency of this Agreement
or for the due execution hereof by Bluemont Funding or for the form, character,
genuineness, sufficiency, value or validity of any of the Interim Trust Loans
or for or in respect of the validity or sufficiency of the Bluemont Funding
Purchase Agreement.

	 	4.	 	In no event shall the Bluemont Funding Interim Eligible Lender
Trustee be responsible or liable for special, indirect, or consequential loss
or damage of any kind whatsoever irrespective of whether the Bluemont Funding
Interim Eligible Lender Trustee has been advised of the likelihood of such loss
or damage and regardless of the form of action.

SECTION 5.2. Representations and Warranties. The Bluemont Funding Eligible Lender
Trustee hereby represents and warrants to Bluemont Funding that:

	 	1.	 	It is duly organized and validly existing in good standing
under the laws of its governing jurisdiction and has an office located within
the State of Florida, at which it will act as trustee for the Trust. It has all
requisite power and authority to execute, deliver and perform its obligations
under the Bluemont Funding Purchase Agreement and this Agreement.

	 	2.	 	It has taken all action necessary to authorize the execution
and delivery by it of the Bluemont Funding Purchase Agreement and this
Agreement, and the Bluemont Funding Purchase Agreement and this Agreement have
been executed and delivered by one of its officers who is duly authorized to
execute and deliver the same on its behalf.

	 	3.	 	Neither the execution nor the delivery by it of the Bluemont
Funding Purchase Agreement or this Agreement, nor the consummation by it of the
transactions contemplated thereby or hereby nor compliance by it with any of
the terms or provisions thereof or hereof will contravene any Federal or
Delaware state law, governmental rule or regulation governing the banking or
trust powers of the Bluemont Funding Eligible Lender Trustee or any judgment or
order binding on it, or constitute any default under its charter documents or
by-laws or any indenture, mortgage, contract, agreement or instrument to which
it is a party or by which any of its properties may be bound.

	 	4.	 	It is and will maintain its status as an “eligible lender” (as
such term is defined in Section 435(d) of the Higher Education Act) for
purposes of holding legal title to the Interim Trust Loans as contemplated by
this Agreement and the Bluemont Funding Purchase Agreement.

SECTION 5.3. Not Acting in Individual Capacity. Except as provided in this Article V,
in accepting the trust hereby created, The Bank of New York Mellon Trust Company, National
Association acts solely as Bluemont Funding Eligible Lender Trustee hereunder and not in its
individual capacity.

SECTION 5.4. Bluemont Funding Eligible Lender Trustee Not Liable for the Interim Trust
Loans. The Bluemont Funding Eligible Lender Trustee makes no representations as to the
validity or sufficiency of this Agreement or the Bluemont Funding Purchase Agreement, or of any
Interim Trust Loan or related documents. The Bluemont Funding Eligible Lender Trustee shall at no
time have any responsibility for or with respect to the sufficiency of the Interim Trust Loans; the
validity or completeness of the assignment to the Bluemont Funding Eligible Lender Trustee of legal
title to any Interim Trust Loan on behalf and for the benefit of Bluemont Funding; the performance
or enforcement (except as expressly set forth in the Bluemont Funding Purchase Agreement) of any
Interim Trust Loan; the compliance by Bluemont Funding or the Servicer with any warranty or
representation made under any Basic Document or in any related document or the accuracy of any such
warranty or representation or any action or inaction of the Administrator, the Indenture Trustee or
the Servicer or any subservicer taken in the name of the Bluemont Funding Eligible Lender Trustee.

ARTICLE VI

Compensation and Indemnity of Bluemont Funding Eligible Lender Trustee

(a) The Bluemont Funding Eligible Lender Trustee shall receive as compensation for its
services hereunder such fees as have been separately agreed upon before the date hereof between
Bluemont Funding and the Bluemont Funding Eligible Lender Trustee, and the Bluemont Funding
Eligible Lender Trustee shall be entitled to be reimbursed by Bluemont Funding, to the extent
provided in such separate agreement, for its other reasonable expenses hereunder.

(b) The Depositor shall cause the Administrator to indemnify the Interim Eligible Lender
Trustee in its individual capacity and any of its officers, directors, employees and agents as and
to the extent provided for in Section 4.2 of the Administration Agreement.

ARTICLE VII

Termination of Interim Trust Agreement

This Agreement (other than Article VI) and the trust created hereby shall terminate and be of
no further force or effect upon the earlier of (i) the termination of the Trust pursuant to Section
9.1 of the Trust Agreement and (ii) the expiration of 21 years from the death of the last survivor
of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of
St. James’s, living on the date hereof.

ARTICLE VIII

Successor Bluemont Funding Eligible Lender Trustees

SECTION 8.1. Eligibility Requirements for Bluemont Funding Eligible Lender Trustee.
The Bluemont Funding Eligible Lender Trustee shall at all times be a corporation or banking
association (i) qualifying as an “eligible lender” as such term is defined in Section 435(d) of the
Higher Education Act for purposes of holding legal title to the Interim Trust Loans on behalf and
for the benefit of Bluemont Funding, with a valid lender identification number with respect to the
Interim Trust Loans from the Department; and (ii) being authorized to exercise corporate trust
powers and hold legal title to the Interim Trust Loans. In case at any time the Bluemont Funding
Eligible Lender Trustee shall cease to be eligible in accordance with the provisions of this
Section, the Bluemont Funding Eligible Lender Trustee shall resign immediately in the manner and
with the effect specified in Section 8.2.

SECTION 8.2. Resignation or Removal of Bluemont Funding Eligible Lender Trustee. The
Bluemont Funding Eligible Lender Trustee may at any time resign and be discharged from the trust
hereby created by giving written notice thereof to Bluemont Funding. Upon receiving such notice of
resignation, Bluemont Funding shall promptly appoint a successor Bluemont Funding Eligible Lender
Trustee meeting the eligibility requirements of Section 8.1 by written instrument, in duplicate,
one copy of which instrument shall be delivered to the resigning Bluemont Funding Eligible Lender
Trustee and one copy to the successor Bluemont Funding Eligible Lender Trustee. If no successor
Bluemont Funding Eligible Lender Trustee shall have been so appointed and have accepted appointment
within 30 days after the giving of such notice of resignation, the resigning Bluemont Funding
Eligible Lender Trustee may petition any court of competent jurisdiction for the appointment of a
successor Bluemont Funding Eligible Lender Trustee; provided, however, that such
right to appoint or to petition for the appointment of any such successor shall in no event relieve
the resigning Bluemont Funding Eligible Lender Trustee from any obligations otherwise imposed on it
under this Agreement or the Bluemont Funding Purchase Agreement until such successor has in fact
assumed such appointment.

If at any time the Bluemont Funding Eligible Lender Trustee shall cease to be or shall be
likely to cease to be eligible in accordance with the provisions of Section 8.1 and shall fail to
resign after written request therefor by Bluemont Funding, then Bluemont Funding may remove the
Bluemont Funding Eligible Lender Trustee. If Bluemont Funding shall remove the Bluemont Funding
Eligible Lender Trustee under the authority of the immediately preceding sentence, Bluemont Funding
shall promptly appoint a successor Bluemont Funding Eligible Lender Trustee by written instrument,
in duplicate, one copy of which instrument shall be delivered to the outgoing Bluemont Funding
Eligible Lender Trustee so removed and one copy to the successor Bluemont Funding Eligible Lender
Trustee together with payment of all fees owed to the outgoing Bluemont Funding Eligible Lender
Trustee.

Any resignation or removal of the Bluemont Funding Eligible Lender Trustee and appointment of
a successor Bluemont Funding Eligible Lender Trustee pursuant to any of the provisions of this
Section shall not become effective until acceptance of appointment by the successor Bluemont
Funding Eligible Lender Trustee pursuant to Section 8.3 and payment of all fees and expenses owed
to the outgoing Bluemont Funding Eligible Lender Trustee.

SECTION 8.3. Successor Bluemont Funding Eligible Lender Trustee. Any successor
Bluemont Funding Eligible Lender Trustee appointed pursuant to Section 8.2 shall execute,
acknowledge and deliver to Bluemont Funding and to its predecessor Bluemont Funding Eligible Lender
Trustee an instrument accepting such appointment under this Agreement, and thereupon the
resignation or removal of the predecessor Bluemont Funding Eligible Lender Trustee shall become
effective and such successor Bluemont Funding Eligible Lender Trustee, without any further act,
deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations
of its predecessor under this Agreement, with like effect as if originally named as Bluemont
Funding Eligible Lender Trustee. The predecessor Bluemont Funding Eligible Lender Trustee shall
upon payment of its fees and expenses deliver to the successor Bluemont Funding Eligible Lender
Trustee all documents, statements, moneys and properties held by it under this Agreement and shall
assign, if permissible, to the successor Bluemont Funding Eligible Lender Trustee any lender
identification number obtained from the Department with respect to the Interim Trust Loans; and
Bluemont Funding and the predecessor Bluemont Funding Eligible Lender Trustee, at the sole cost and
expense of the Depositor, shall execute and deliver such instruments and do such other things as
may reasonably be required for fully and certainly vesting and confirming in the successor Bluemont
Funding Eligible Lender Trustee all such rights, powers, duties and obligations.

No successor Bluemont Funding Eligible Lender Trustee shall accept such appointment as
provided in this Section unless at the time of such acceptance such successor Bluemont Funding
Eligible Lender Trustee shall be eligible pursuant to Section 8.1.

SECTION 8.4. Merger or Consolidation of Bluemont Funding Eligible Lender Trustee. Any
corporation into which the Bluemont Funding Eligible Lender Trustee may be merged or converted or
with which it may be consolidated, or any corporation or banking association resulting from any
merger, conversion or consolidation to which the Bluemont Funding Eligible Lender Trustee shall be
a party, or any corporation succeeding to all or substantially all the corporate trust business of
the Bluemont Funding Eligible Lender Trustee, shall, without the execution or filing of any
instrument or any further act on the part of any of the parties hereto, anything herein to the
contrary notwithstanding, be the successor of the Bluemont Funding Eligible Lender Trustee
hereunder; provided that such corporation or banking association shall be eligible pursuant
to Section 8.1.

ARTICLE IX

Miscellaneous

SECTION 9.1. Supplements and Amendments. This Agreement may be amended by Bluemont
Funding and the Bluemont Funding Eligible Lender Trustee, with prior written notice to the Rating
Agencies, without the consent of any of the Noteholders or any Excess Distribution
Certificateholder, to cure any ambiguity, to correct or supplement any provisions in this Agreement
or for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions in this Agreement; provided, however, that such action shall not, as
evidenced by an Opinion of Counsel, adversely affect in any material respect the interests of any
Noteholder or the Excess Distribution Certificateholder.

This Agreement may also be amended from time to time by Bluemont Funding and the Bluemont
Funding Eligible Lender Trustee, with prior written notice to the Rating Agencies and with the
consent of the Noteholders evidencing not less than a majority of the Outstanding Amount of the
Notes, for the purpose of adding any provisions to or changing in any manner or eliminating any of
the provisions of this Agreement; provided, however, that no such amendment shall
reduce the aforesaid percentage of the Outstanding Amount of the Notes required to consent to any
such amendment, without the consent of all the outstanding Noteholders.

Promptly after the execution of any such amendment or consent, the Bluemont Funding Eligible
Lender Trustee shall furnish written notification of the substance of such amendment or consent to
the Indenture Trustee and each of the Rating Agencies.

It shall not be necessary for the consent of the Noteholders or the Excess Distribution
Certificateholder pursuant to this Section to approve the particular form of any proposed amendment
or consent, but it shall be sufficient if such consent shall approve the substance thereof. The
manner of obtaining such consents and of evidencing the authorization of the execution thereof
shall be subject to such reasonable requirements as the Bluemont Funding Eligible Lender Trustee
may prescribe.

Prior to the execution of any amendment to this Agreement, the Bluemont Funding Eligible
Lender Trustee shall be entitled to receive and rely upon an Opinion of Counsel stating that the
execution of such amendment is authorized or permitted by this Agreement. The Bluemont Funding
Eligible Lender Trustee may, but shall not be obligated to, enter into any such amendment which
affects the Bluemont Funding Eligible Lender Trustee’s own rights, duties or immunities under this
Agreement or otherwise.

SECTION 9.2. Notices. Unless otherwise expressly specified or permitted by the terms
hereof, all notices shall be in writing and shall be deemed given upon receipt by the intended
recipient or three Business Days after mailing if mailed by certified mail, postage prepaid (except
that notice to the Bluemont Funding Eligible Lender Trustee shall be deemed given only upon actual
receipt by the Bluemont Funding Eligible Lender Trustee), if to the Bluemont Funding Eligible
Lender Trustee, addressed to its Corporate Trust Office; if to Bluemont Funding, addressed to
Bluemont Funding LLC, 12061 Bluemont Way, V3419, Reston, Virginia 20190, or, as to each party, at
such other address as shall be designated by such party in a written notice to each other party.

SECTION 9.3. Severability. Any provision of this Agreement that is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining provisions hereof, and any
such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

SECTION 9.4. Separate Counterparts. This Agreement may be executed by the parties
hereto in separate counterparts, each of which when so executed and delivered shall be an original,
but all such counterparts shall together constitute but one and the same instrument.

SECTION 9.5. Successors and Assigns. All covenants and agreements contained herein
shall be binding upon and to the benefit of, Bluemont Funding and its successors and the Bluemont
Funding Eligible Lender Trustee and its successors, all as herein provided.

SECTION 9.6. Headings. The headings of the various Articles and Sections herein are
for convenience of reference only and shall not define or limit any of the terms or provisions
hereof.

SECTION 9.7. Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of Delaware, without reference to its conflict of law
provisions, and the obligations, rights and remedies of the parties hereunder shall be determined
in accordance with such laws.

SECTION 9.8. Force Majeure. In no event shall the Bluemont Funding Eligible Lender
Trustee be responsible or liable for any failure or delay in the performance of its obligations
hereunder arising out of or caused by, directly or indirectly, forces beyond its control,
including, without limitation, acts of war or terrorism, civil or military disturbances, nuclear or
natural catastrophes or acts of God; it being understood that the Bluemont Funding Eligible Lender
Trustee shall use reasonable efforts which are consistent with accepted practices in the banking
industry to resume performance as soon as practicable under the circumstances.

SECTION 9.9. WAIVER OF JURY TRIAL. EACH OF THE PARTIES TO THIS AGREEMENT HEREBY
IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL
BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE NOTES OR THE
TRANSACTIONS CONTEMPLATED HEREBY.

1

IN WITNESS WHEREOF, the parties hereto have caused this Interim Trust Agreement to be duly
executed by their respective officers hereunto duly authorized, as of the day and year first above
written.

THE BANK OF NEW YORK MELLON TRUST COMPANY, NATIONAL
ASSOCIATION, not in its individual capacity but
solely

as Eligible Lender Trustee for the benefit of
Bluemont Funding LLC

By: /S/ MICHAEL G. RUPPEL

Name: Michael G. Ruppel

Title: Vice President

BLUEMONT FUNDING LLC,

in its capacity as Purchaser and Seller

By: /S/ MARK D. REIN

Name: Mark D. Rein

Title: Vice President

2

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