Common use of LENDING POLICY Clause in Contracts

LENDING POLICY. The Lending Policies attached hereto as Attachment 5 are hereby incorporated herein as the applicable Lending Policies as of the date hereof, and the Lending Policies, as amended from time to time, is also hereby incorporated as part of this Servicing Agreement. The Lending Policies must be able to be reasonably administered by the Servicer, be consistent with the provisions of this Servicing Agreement, the Act, Regulations, and the Program Rules (as applicable) and cannot be amended without sufficient prior notice to the Servicer to allow implementation of any servicing modifications. The Lending Policies will be reviewed and updated by the Bank if deemed necessary on at least an annual basis or as required by the Act or the Regulations or as any Program Rule changes may occur. To the extent that a change in the Bank’s Lending Policies require the Servicer to implement material operational changes or systems modifications, the cost of such changes and modifications may be borne by the Bank.

LENDING POLICY. The Lending Policies attached hereto as Attachment 5 are hereby incorporated herein as the applicable Lending Policies as of the date hereofEffective Date, and the Lending Policies, as amended from time to time, is are also hereby incorporated as part of this Servicing Agreement. The Lending Policies must be able to be reasonably administered by the Servicer, be consistent with the provisions of this Servicing Agreement, the Act, Regulations, and the applicable Program Rules (as applicable) and applicable law, and cannot be amended without sufficient prior notice to the Servicer to allow implementation of any servicing modifications. The Lending Policies will be reviewed and updated by the Bank Holder if deemed necessary on at least an annual basis or as required by the Act Regulations or the Regulations applicable law or as any Program Rule changes may occur. To the extent that a change in the BankHolder’s Lending Policies require the Servicer to implement material operational changes or systems modifications, the cost of such changes and modifications may be borne by the BankHolder.