Common use of Financial and Administrative Responsibility Clause in Contracts

Financial and Administrative Responsibility. A. Each party hereto represents that it is currently in compliance with, and agrees to maintain its compliance with, all financial and administrative responsibility standards or requirements which may be established from time to time by the Department or any Guarantor for participation in the Title IV, Higher Education Act programs for which ACS provides services hereunder. Each party shall have the right to terminate this Agreement upon ninety (90) days’ written notice to the other in the event that the Department’s financial or administrative responsibility standards or requirements are hereafter changed and as a result such party does not thereafter satisfy such standards or requirements. Confidential and Proprietary 10

Financial and Administrative Responsibility. A. Each party hereto represents that it is currently in compliance with, and agrees to maintain its compliance with, all financial and administrative responsibility standards or requirements which may be established from time to time by the Department or any Guarantor for participation in the Title IV, Higher Education Act programs for which ACS provides services hereunder. Each party shall have the right to terminate this Agreement upon ninety (90) days’ written notice to the other in the event that the Department’s financial or administrative responsibility standards or requirements are hereafter changed and as a result such party does not thereafter satisfy such standards or requirements. Confidential and Proprietary 10.

Financial and Administrative Responsibility. A. Each party hereto represents that it is currently in compliance with, and agrees to maintain its compliance with, all financial and administrative responsibility standards or requirements which that may be established from time to time by the Department or any Guarantor for participation in the Title IV, Higher Education Act programs for which ACS provides services hereunder. Each party shall have the right to terminate this Agreement upon ninety one hundred twenty (90120) days’ ' written notice to the other in the event that the Department’s 's financial or administrative responsibility standards or requirements are hereafter changed and as a result such party does not thereafter satisfy such standards or requirements. Confidential and Proprietary 10.