Significant Failure. If Servicer (i) is more than [***] below the target for any Starred SLA in any Fiscal Month, (ii) fails to meet any individual Starred SLA in [***] consecutive Fiscal Months or (iii) fails to meet any Starred SLA [***] Fiscal Month period (including multiple breaches of the same and individual breaches of different Starred SLAs) (each, a “Significant Failure”).
Appears in 3 contracts
Samples: Servicing Agreement, Servicing Agreement (Neiman Marcus, Inc.), Servicing Agreement (Neiman Marcus, Inc.)
Significant Failure. If Servicer (i) is more than [***] 20% below the target for any Starred SLA in any Fiscal Month, (ii) fails to meet any individual Starred SLA in [***] two (2) consecutive Fiscal Months or (iii) fails to meet any Starred SLA [***] four (4) times in any twelve (12) Fiscal Month period (including multiple breaches of the same and individual breaches of different Starred SLAs) (each, a “Significant Failure”).
Appears in 2 contracts
Samples: Servicing Agreement (Neiman Marcus, Inc.), Servicing Agreement (Neiman Marcus Group Inc)
Significant Failure. If Primary Servicer (i) is more than [***] below the target for any Starred SLA in any Fiscal Month, (ii) fails to meet any individual Starred SLA in [***] two (2) consecutive Fiscal Months or (iii) fails to meet any Starred SLA [***] four (4) times in any twelve (12) Fiscal Month period (including multiple breaches of the same and individual breaches of different Starred SLAs) (each, a “Significant Failure”).
Appears in 1 contract
Samples: Credit Card Program Agreement (Neiman Marcus, Inc.)
