Service Performance Measures. Except as may be otherwise agreed upon by the Bank, the Servicer shall perform its duties as outlined in the attached Service Performance Measures (Attachment 2) using reasonable care, applying that degree of skill, attention, and technological innovation that the Servicer exercises generally with respect to comparable student loans that the Servicer services on behalf of its Affiliates, all in accordance with the Act, Regulations, and the applicable Program Rules (as applicable), and other applicable federal or state law. The Bank will monitor compliance with the Act, Regulations, and applicable Program Rules. If issues related to Servicer non-compliance arise, as reported in Bank monitoring reports or reviews or in regulatory examination reports, the Bank will notify the Servicer of the specifics. The Servicer will have thirty (30) days, following receipt of notice to respond to the issues and establish action plans to correct the issues, as more particularly set forth in Attachment 2.
Appears in 2 contracts
Sources: Loan Servicing and Administration Agreement, Loan Servicing and Administration Agreement (SLM Corp)