Consumer Relief Clause Samples

Consumer Relief. In addition, Bank of America shall provide $7,000,000,000.00 worth of consumer relief as set forth in Annex 2, attached hereto and hereby incorporated as a term of this Agreement, to remediate ▇▇▇▇▇ resulting from the alleged unlawful conduct of Bank of America. The value of consumer relief provided shall be calculated and enforced pursuant to the terms of Annex 2. An independent monitor will determine whether Bank of America has satisfied the obligations contained in Annex 2 (such monitor to be ▇▇▇▇ ▇▇▇▇▇), and Bank of America will provide the Monitor with all documentation the Monitor needs to do so, excluding all privileged information. All costs associated with said Monitor shall be borne solely by Bank of America; notwithstanding the fact that Bank of America bears the costs associated with the Monitor, the Monitor shall be fully independent of Bank of America. Bank of America will refrain from retaining the Monitor to represent Bank of America in any capacity prior to two years after the date upon which Bank of America satisfies the Consumer Relief obligations set forth in Annex 2. Bank of America will also refrain from engaging the Monitor as a mediator in any matter to which Bank of America is a party until Bank of America satisfies the Consumer Relief obligations set forth in Annex 2. Bank of America shall also pay $490,160,000.00 (such amount to be referred to as the “Total Tax Relief Payment Amount”) of the Settlement Amount, in addition to the $7,000,000,000.00 worth of consumer relief, for the payment of consumer tax liability as a result of consumer relief as set forth in Annex 3, attached hereto and incorporated as a term of this Agreement. Such $490,160,000.00 will be deposited into an escrow account (such account to be referred to as the “Tax Relief Payment Account”) that is a Qualified Settlement Fund in accordance with Treasury Regulation 1.468B-1(a), and all aspects of the payments therefrom shall be handled by the Monitor provided for herein and shall not be the responsibility of Bank of America.

Consumer Relief. RBS or its affiliates shall also provide $400,000,000 of consumer relief credits in New York, as set forth in Appendix B to this Agreement, to remediate ▇▇▇▇▇ allegedly resulting from the conduct of RBS. The value of consumer relief credits provided shall be calculated and enforced pursuant to the terms of Appendix B. A monitor will determine whether RBS has satisfied the obligations contained in Appendix B (such monitor to be ▇▇▇▇ ▇▇▇▇▇) (the “Monitor”), and RBS will provide the Monitor with all documentation the Monitor needs to do so, excluding privileged information. Any costs associated with said Monitor shall be borne solely by RBS or its affiliates. Notwithstanding the fact that RBS bears the costs associated with the Monitor, the Monitor shall be fully independent of RBS. RBS will refrain from retaining the Monitor to represent RBS in any capacity prior to two years after the date upon which RBS satisfies the consumer relief obligations set forth in Appendix B. RBS will also refrain from engaging the Monitor as a mediator in any matter to which RBS is a party until RBS satisfies the consumer relief obligations set forth in Appendix B.

Consumer Relief. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ shall also provide $400,000,000 worth of consumer relief as set forth in Appendix B, attached and hereby incorporated in this Agreement, to remediate ▇▇▇▇▇ allegedly resulting from the conduct of ▇▇▇▇▇▇ ▇▇▇▇▇▇▇. The value of consumer relief provided shall be calculated and enforced pursuant to the terms of Appendix B. An independent monitor will be appointed to determine whether ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ has satisfied the obligations contained in this Paragraph (such monitor to be ▇▇▇▇ ▇▇▇▇▇, hereinafter the “Monitor”) and any costs associated with said Monitor shall be borne by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ will refrain from retaining the Monitor to represent ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ in any capacity from the present until two years after the date on which ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ satisfies the Consumer Relief obligations set forth in Appendix ▇. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ will also refrain from engaging the Monitor as a mediator in any further matter to which ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ is a party until ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ satisfies the Consumer Relief obligations set forth in Appendix B.

Consumer Relief. (a) Seller shall deliver to the System of Record Provider any and all information requested by Buyer to be provided to the System of Record Provider, including, without limitation the information described in Exhibit P, as modified from time to time with Seller’s consent (not to be unreasonably withheld), and any other information that Buyer is entitled to receive pursuant any term or provision of this Agreement upon the same time frame that such Seller is obligated to provide such information to Buyer pursuant to the applicable term or provision of this Agreement. (b) Seller agrees to (a) cooperate with Buyer to (i) enable Buyer to satisfy any information, data and due diligence requests of the Monitor, including, but not limited to, providing Buyer and the Monitor with access to any and all documents, records, agreements, instruments or information relating to Seller and the Mortgage Loans in the possession, or under the control, of Seller (including, but not limited to, any and all documents, records, agreements, instruments or information relating to any report delivered pursuant to Section 7.08), (ii) enable Buyer to comply with any of the obligations, terms and conditions contained in the Settlement Agreement or contemplated therein and (iii) enable Buyer to comply with any request of the Monitor not set forth in clause (i) above, including agreeing to amendments reasonably necessary to the terms of the Repurchase Documents to accommodate any of the foregoing and (b) meet with the Monitor, at such time and location as Buyer may reasonably request, and make available to the Monitor, at such time and location as Buyer may reasonably request, a knowledgeable financial or accounting officer, and instruct such officer to answer candidly and fully any and all reasonable questions that the Monitor may address to them in reference to the Mortgage Loan Files, Mortgage Loans and the financial condition or affairs of Seller and its Affiliates and Subsidiaries. Seller and Buyer further agree that all reasonable and documented out-of-pocket costs and expenses incurred by Buyer and the Monitor in connection with their respective activities pursuant to this Section 7.40 shall be paid by Buyer. (c) Seller (a) shall not, and shall cause Servicer to not, be subject to an ongoing FIRREA settlement involving a consumer relief schedule with the United States Department of Justice, (b) shall not provide the required reporting to any party under a mortgage-related FIRREA s...

Consumer Relief. In addition, in order to remediate the harm resulting from its allegedly unlawful conduct, Deutsche Bank shall provide $4.1 billion dollars of consumer relief as set forth in Annex 2, attached hereto and hereby incorporated as a term of this Agreement. The value of consumer relief provided shall be calculated and enforced pursuant to the terms of Annex 2. An independent monitor will determine whether Deutsche Bank has satisfied the obligations contained in Annex 2 (such monitor to be ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ (the "Monitor")), and Deutsche Bank will provide the Monitor with all documentation the Monitor needs to do so, excluding privileged information. Any costs associated with said Monitor shall be borne solely by Deutsche Bank. Notwithstanding the fact that Deutsche Bank bears the costs associated with the Monitor, the Monitor shall be fully independent of Deutsche Bank. Deutsche Bank will refrain from retaining the Monitor to represent Deutsche Bank in any capacity prior to two years after the date upon which Deutsche Bank satisfies the consumer relief obligations set forth in Annex 2. Deutsche Bank will also refrain from engaging the Monitor as a mediator in any matter to which Deutsche Bank is a party until Deutsche Bank satisfies the consumer relief obligations set forth in Annex 2.

Consumer Relief. In addition, Bank of America shall provide $7,000,000,000.00 worth of consumer relief as set forth in Annex 2, attached hereto and hereby incorporated as a term of this Agreement, to remediate ▇▇▇▇▇ resulting from the alleged unlawful conduct of Bank of America. The value of consumer relief provided shall be calculated and enforced pursuant to the terms of Annex 2. An independent monitor will determine whether Bank of America has satisfied the obligations contained in Annex 2 (such monitor to be ▇▇▇▇ ▇▇▇▇▇), and Bank of 8