Terms Agreement for Underwriting of National Collegiate Trust 1996-S2 Collateralized Student Loan Bonds

Summary

This agreement is between The National Collegiate Trust, The National Collegiate Trust 1996-S2, and BA Securities, Inc. It sets the terms for the underwriting and sale of $6,825,000 in Collateralized Student Loan Bonds, Series 1996-S2. The agreement specifies the classes, interest rates, purchase prices, underwriting fees, and maturity date for the bonds. The closing is scheduled for November 26, 1996. The agreement also references an earlier Underwriting Agreement and includes computational materials for prospective purchasers.

EX-1.1 2 p06-0759ex1_1.txt TERMS AGREEMENT EXHIBIT 1.1 GATE(sm) RECEIVABLE ASSET-BACKED DEBT SECURITIES (GRADS(sm)) COLLATERALIZED STUDENT LOAN BONDS SERIES 1996-S2 $6,825,000 TERMS AGREEMENT Dated: November 20, 1996 To: The National Collegiate Trust (the "Company") and The National Collegiate Trust 1996-S2 (the "Issuer") Re: Underwriting Agreement dated as of April 3, 1996 (the "Agreement"). Series Designation: Class A Collateralized Student Loan Bonds, Series 1996-S2 Class B Collateralized Student Loan Bonds, Series 1996-S2 Terms of the Bonds and Underwriting Compensation: ============================================================= Original Interest Price to Principal Amount Rate Public - ------------------------------------------------------------- Class A $4,500,000 7.30% 99.18750% - - ----------------------------------------------------------- Class B $2,325,000 8.15% 99.03125% ============================================================= Certificate Ratings: Class A - Moody's Aa2; Class B - Moody's Baa2 Underwriting Fee: 1.30% of the original principal amount of the Series 1996-S2 Class A Bonds issued. 2.30% of the original principal amount of the Series 1996-S2 Class B Bonds issued. Purchase Price: Class A 97.8875% Class B 96.73125% Final Maturity: September 20, 2013 Closing Date and Location: November 26, 1996 at the office of Thacher Proffitt & Wood, New York, New York. Attached as EXHIBIT A are the Computational Materials furnished by the Underwriter to prospective purchasers pursuant to SECTIONS 3(G) and 6(A)(II) of the Agreement. The Issuer, the Company and the Underwriter hereby agree to the terms of this Terms Agreement and to the terms of the Underwriting Agreement, dated as of April 3, 1996, between the Company and BA Securities, Inc. THE NATIONAL COLLEGIATE TRUST 1996-S2 By: DELAWARE TRUST CAPITAL MANAGEMENT, INC., not in its individual capacity, but solely as Owner Trustee By: /s/ Richard N. Smith --------------------------------------- Name: Richard N. Smith Title: Vice President BA SECURITIES, INC. By: /s/ Dana R. Levenson --------------------------------------- Name: Dana R. Levenson Title: Managing Director ACCEPTED: THE NATIONAL COLLEGIATE TRUST By: DELAWARE TRUST CAPITAL MANAGEMENT, INC., not in its individual capacity, but solely as Owner Trustee By: /s/ Richard N. Smith --------------------- Name: Richard N. Smith --------------------- Title: Vice President ---------------------