from 8-K
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Exhibit 1.1 <page> Gate(sm) Receivable Asset-Backed Debt Securities (Grads(sm)) Collateralized Student Loan Bonds Series 1997-S2 $8,250,000 Terms Agreement Dated: November 25, 1997 To: The National Collegiate Trust (The "Company") and the National Collegiate Trust 1997-S2 (The "Issuer") Re: Underwriting Agreement Dated as of April 3, 1996 (The "Agreement") Series Designation: 7.45% Collateralized Student Loan Bonds, Series 1997-S2 Terms of the Bonds and Underwriting Compensation: Original Interest Price to Principal Amount Rate Public $8,250,000 7.24% 100% Certificate Ratings: Moody's Aaa; Fitch Aaa Underwriting Fee: 1.15% of the Original Principal Amount of the Series 1997-S2 Bonds Issued. . Purchase Price: $8,155,125 <page> -10- Final Maturity: September 20, 2014 Closing Date and Location: December 3, 1997 at the Office of Thacher Proffitt & Wood, New York, New York. 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 Bancamerica Securities, Inc. the National Collegiate Trust 1997-S2 By: Delaware Trust Capital Management, Inc., Not in Its Individual Capacity, but Solely as Owner Trustee By: /S/ Name: Title: Bancamerica Securities, Inc. By: /S/ Name: Title: Accepted: The National Collegiate Trust By: Delaware Trust Capital Management, Inc., Not in Its Individual Capacity, but Solely as Owner Trustee By: /S/ Name: Title: <page>
