112 STAT. 2681-855 PUBLIC LAW 105-277—OCT. 21, 1998 appropriate to achieve an orderiy reorganization of the Association or to prevent market disruptions in connection with such reorganization, but no such extensions shall in the aggregate exceed 2 years; "(iii) the Association will not purchase or extend credit to, or guarantee or provide credit enhancement to, any obligation of the depository institution; "(iv) the operations of the Association will be separate from the operations of the depository institution; and "(v) until the 'dissolution date' (as that term is defined in section 440 of the Higher Education Act of 1965, as amended) has occurred, such depository institution will not use the trade name or service mark 'Sallie Mae' in connection with any product or service it offers if the appropriate Federal banking agency for such depository institution determines that— "(I) the depository institution is the only institution offering such product or service using the 'Sallie Mae' name; and "(II) such use would result in the depository institution having an unfair competitive advantage over other depository institutions. "(B) TERMS AND CONDITIONS.— In approving any arrangement referred to in subparagraph (A) the Secretary may impose any terms and conditions on such an arrangement that the Secretary considers appropriate, including— "(i) imposing additional restrictions on the issuance of debt obligations by the Association; or "(ii) restricting the use of proceeds from the issuance of such debt. "(C) ADDITIONAL LIMITATIONS.— In the event that the Holding Company (or any subsidiary of the Holding Company) enters into such an arrangement, the value of the Association's 'investment portfolio' shall not at any time exceed the lesser of— "(i) the value of such portfolio on the date of the enactment of this subsection; or "(ii) the value of such portfolio on the date such an arrangement is consummated. The term 'investment portfolio' shall mean all investments shown on the consolidated balance sheet of the Association other than— "(I) any instrument or assets described in section 439(d) of the Higher Education Act of 1965, as amended; "(II) any direct noncallable obligations of the United States or any agency thereof for which the full faith and credit of the United States is pledged; or "(III) cash or cash equivalents. "(D) ENFORCEMENT.— The terms and conditions imposed under subparagraph (B) may be enforced by the Secretary in accordance with section 440 of the Higher Education Act of 1965. "(E) DEFINITIONS.— For purposes of this paragraph, the following definition shall apply—
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