Customer Service Commitment Sample Clauses

Customer Service Commitment. ILSI and FMN agree that excellent customer service represents one of the foundations for building a successful business and is a consideration for this Agreement. To that end, the parties agree to the following customer service standards: FMN shall deliver customer service performance at least equal to the service level standards delivered by the average of the two lenders on the Website determined to have the highest customer service levels (defined as lowest ratio of complaints to applications) ("High Service Standard"). The two lenders whose customer service levels are averaged to determine the High Service Standard shall be selected from among the four lenders on the Website with the highest application volume. The High Service Standard will be measured monthly, and will be determined by the ratio of customer complaints received (and found in ILSI's reasonable judgement to result from lender actions) regarding a specific lender to the total applications taken by that lender during the month. If FMN's customer service fails to meet the High Service Standard for two (2) consecutive months, then upon written notice from ILSI, FMN shall take reasonable measures to improve service levels within 15 days and shall cure the cause(s) of its failure to meet the High Service Standard within an additional 45 days; provided however, that if ILSI identifies a pattern of material problems resulting from FMN conduct, which problems have resulted in specific instances of customer complaints, then upon written notice from ILSI, FMN shall take reasonable measures to improve service levels within 15 days and shall cure the underlying problems within 45 days. If the service shortfall is not cured during the cure period, then, notwithstanding any other term of this Agreement to the contrary, ILSI shall have the right to terminate this Agreement in accordance with Article VIII of this agreement. For purposes of this section a problem shall not be deemed to be material if the specific events complained of occur in fewer than 2% of loan applications taken by FMN. The provisions of this Section 3.5(d) shall not apply during any period where actual loan volume exceeds the capacity levels established and agreed to by the parties, as described in Section 3.2.