Common use of Escalation Process Following the Separation Oversight Period Clause in Contracts

Escalation Process Following the Separation Oversight Period. (i) The Navient Program Manager and the SLM BankCo Program Manager shall attempt in good faith to negotiate a resolution to each Dispute within five business days of a Dispute Notice being delivered by one Program Manager to the other Program Manager. (ii) If any Dispute is not resolved by the Program Managers within five business days following delivery of a Dispute Notice, (A) the Navient Program Manager shall consult with the Navient Board (or a committee thereof appointed for such purpose), which may direct the Navient Program Manager how to proceed with respect to such Dispute and (B) the SLM BankCo Program Manager shall consult with the SLM BankCo Board (or a committee thereof appointed for such purpose), which may direct the SLM BankCo Program Manager how to proceed with respect to such Dispute. (iii) If any Dispute remains unresolved for any reason for a period of 15 business days following delivery of a Dispute Notice or if a Party reasonably concludes that the other Party is not willing to negotiate as contemplated by this Section 7.2, the Dispute may be submitted to the dispute resolution procedures in accordance with Section 7.3 or Section 10.13.

Escalation Process Following the Separation Oversight Period. (i) The Navient Program Manager and the SLM BankCo Program Manager shall attempt in good faith to negotiate a resolution to each Dispute within five business [—] days of a Dispute Notice being delivered by one Program Manager to the other Program Manager. (ii) If any Dispute is not resolved by the Program Managers within five business [—] days following delivery of a Dispute Notice, (A) the Navient Program Manager shall consult with the Navient Board (or a committee thereof appointed for such purpose), which may direct the Navient Program Manager how to proceed with respect to such Dispute and (B) the SLM BankCo Program Manager shall consult with the SLM BankCo Board (or a committee thereof appointed for such purpose), which may direct the SLM BankCo Program Manager how to proceed with respect to such Dispute. (iii) If any Dispute remains unresolved for any reason for a period of 15 business [—] days following delivery of a Dispute Notice or if a Party reasonably concludes that the other Party is not willing to negotiate as contemplated by this Section 7.2, the Dispute may be submitted to the dispute resolution procedures in accordance with Section 7.3 or Section 10.13.

Escalation Process Following the Separation Oversight Period. (i) The Navient NewCo Program Manager and the SLM BankCo Program Manager shall attempt in good faith to negotiate a resolution to each Dispute within five business [—] days of a Dispute Notice being delivered by one Program Manager to the other Program Manager. (ii) If any Dispute is not resolved by the Program Managers within five business [—] days following delivery of a Dispute Notice, (A) the Navient NewCo Program Manager shall consult with the Navient NewCo Board (or a committee thereof appointed for such purpose), which may direct the Navient NewCo Program Manager how to proceed with respect to such Dispute and (B) the SLM BankCo Program Manager shall consult with the SLM BankCo Board (or a committee thereof appointed for such purpose), which may direct the SLM BankCo Program Manager how to proceed with respect to such Dispute. (iii) If any Dispute remains unresolved for any reason for a period of 15 business [—] days following delivery of a Dispute Notice or if a Party reasonably concludes that the other Party is not willing to negotiate as contemplated by this Section 7.2, the Dispute may be submitted to the dispute resolution procedures in accordance with Section 7.3 or Section 10.137.3.