Regulatory Failure. If Servicer fails to meet an SLA designated as a regulatory-based SLA on Schedule 2.04(a) (each, a “Regulatory SLA”) and such failure results in a breach by Servicer of Applicable Law (such failure, a “Regulatory Failure”).
Appears in 3 contracts
Samples: Servicing Agreement (Neiman Marcus, Inc.), Servicing Agreement (Neiman Marcus, Inc.), Servicing Agreement (Neiman Marcus Group Inc)
Regulatory Failure. If Servicer fails to meet an (i) is more than [***] below the standard for any SLA designated as a regulatory-based SLA on Schedule 2.04(a) (each, a “Regulatory SLA”) and (ii) such failure results in a breach by Servicer of Applicable Law (such failure, a “Regulatory Failure”).
Appears in 2 contracts
Samples: Servicing Agreement, Servicing Agreement (Neiman Marcus, Inc.)
Regulatory Failure. If Primary Servicer fails to meet an SLA designated as a regulatory-based SLA on Schedule 2.04(a7.3(a) (each, a “Regulatory SLA”) and such failure results in a breach by Primary Servicer of Applicable Law (such failure, a “Regulatory Failure”).
Appears in 1 contract
Samples: Credit Card Program Agreement (Neiman Marcus, Inc.)
