Acceptance and Assumption of SLM BankCo Liabilities. Navient shall, and shall cause its Subsidiaries to, assign to SLM BankCo or a Subsidiary of SLM BankCo designated by SLM BankCo, and SLM BankCo and such Subsidiary shall accept, assume and agree faithfully to timely perform, discharge and fulfill in accordance with their respective terms, SLM BankCo Liabilities, if any, held by any member of the Navient Group immediately prior to the Effective Time.
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Samples: Separation and Distribution Agreement (SLM Corp), Separation and Distribution Agreement (Navient Corp), Separation and Distribution Agreement (Navient Corp)
Acceptance and Assumption of SLM BankCo Liabilities. Navient NewCo shall, and shall cause its Subsidiaries to, assign to SLM BankCo or a Subsidiary of SLM BankCo designated by SLM BankCo, and SLM BankCo and such Subsidiary shall accept, assume and agree faithfully to timely perform, discharge and fulfill in accordance with their respective terms, SLM BankCo Liabilities, if any, held by any member of the Navient NewCo Group immediately prior to the Effective Time.
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