Common use of Service Level Standards Clause in Contracts

Service Level Standards. (a) The Bank shall report to the Company monthly, in a mutually agreed upon format, the Bank’s performance under each of the SLAs set forth on Schedule 7.3. Concurrent with such reporting, if the Bank fails to meet any SLA, without limiting the consequences for SLA failures set forth on Schedule 7.3, the Bank shall (i) report to the Company the reasons for the SLA failure(s), (ii) identify the actions required to address the SLA failure(s) and share such actions with the Company. The Bank shall promptly take any action reasonably necessary to correct and prevent recurrence of such failure(s).

Service Level Standards. (a) The Bank Servicer shall report to the Company monthly, in a mutually agreed upon format, the BankServicer’s performance under each of the SLAs set forth on Schedule 7.32.06. Concurrent with such reporting, if the Bank Servicer fails to meet any SLA, without limiting the consequences for SLA failures set forth on Schedule 7.32.06, the Bank Servicer shall (i) report to the Company the reasons for the SLA failure(s), (ii) identify the actions required to address the SLA failure(s) and share such actions with the Company. The Bank Servicer shall promptly take any action reasonably necessary to correct and prevent recurrence of such failure(s).

Service Level Standards. (a) The Bank shall report to the Company monthly, in a mutually agreed upon format, the Bank’s performance under each of the SLAs set forth on Schedule 7.37.2. Concurrent with such reporting, if If the Bank fails to meet any SLA, without limiting the consequences for SLA failures set forth on Schedule 7.37.2, the Bank shall (i) promptly report to the Company the reasons for the SLA failure(s), (ii) identify the actions required to address the SLA failure(s) and share such actions with the Company. The Bank shall , and (iii) promptly take any action actions reasonably necessary to correct and prevent recurrence of such failure(s).