Proceeds Discount

Proceeds Discount. Shall mean with respect to any GATE Universal Conforming Loan, the percentage shown in the Proceeds Discount row in Exhibit B to this Agreement or in any School-Specific GATE Universal Product Offering approved by Program Lender. The Proceeds Discounts shown on Exhibit B represent the percentage to be withheld from the face amount of each GATE Universal Note when loan proceeds are disbursed to Participating Institution for a Borrower in that tier.