Common use of Disposition of Files on Termination Clause in Contracts

Disposition of Files on Termination. Upon termination of this Agreement, all files (physical and electronic) held by the Master Servicer with respect to Financed Student Loans shall be promptly transferred to the Issuer or its designee in such form as the Issuer reasonably requests. The Issuer shall be responsible for payment of reasonable expenses related to the transfer of the records unless the Issuer is removing the Financed Student Loans because of a breach by the Master Servicer. In such instance, the Master Servicer shall bear the cost of deconverting and transferring the Financed Student Loan documentation.

Disposition of Files on Termination. Upon termination of this Agreement, all files (physical and electronic) held by the Master Servicer with respect to Financed Student Loans shall be promptly transferred to the Issuer or its designee in such form as the Issuer reasonably requests. The Issuer shall be responsible for payment of reasonable expenses related to the transfer of the records unless the Issuer is removing the Financed Student Loans because of a breach by the Master Servicer. In such instance, the Master Servicer shall bear the cost of deconverting and transferring the Financed Student Loan documentation.

Disposition of Files on Termination. Upon termination of this Master Servicing Agreement, all files (physical and electronic) held by the Master Servicer with respect to Financed Student Loans shall be promptly transferred to the Issuer or its designee in such form as the Issuer reasonably requests. The Issuer shall be responsible for payment of reasonable expenses related to the transfer of the records unless the Issuer is removing the Financed Student Loans because of a breach by the Master Servicer. In such instance, the Master Servicer shall bear the cost of deconverting and transferring the Financed Student Loan transfer of loan documentation.