Termination as to Specific Loans. This Servicing Agreement shall terminate as to a specific Loan upon (i) write-off of such Loan pursuant to the policies described in Section 7.5 below, (ii) the payment in full of all principal and interest by or on behalf of the Borrower, the Secretary, or the Guarantee Agency, or (iii) the purchase or other acquisition of such Loan by the Servicer or its Affiliates in accordance with the terms hereof, or (iv) the sale of such Loan by the Bank to a third party, provided that the Servicer and such third party have entered into a loan servicing agreement with respect to such Loan in accordance with Section 11.3 below, or (v) with respect solely to the Private Loans, and at the Bank’s discretion, upon deconversion of such Private Loans following no less than 60 days’ prior written notice to the Servicer setting forth the Bank’s intention to deconvert such Private Loans from the Servicer’s servicing system. Notwithstanding the foregoing, the Servicer’s responsibilities with respect to the Bank’s documentation, as set forth herein, shall remain active. Whether or not this Servicing Agreement is terminated with respect to specific Loans pursuant to any of clauses (i) – (v) above, it shall remain in full force and effect with respect to all other Loans.
Termination as to Specific Loans. This Servicing Agreement shall terminate as to a specific Loan upon (i) write-off of such Loan pursuant to the policies described in Section 7.5 below, (ii) the payment in full of all principal and interest by or on behalf of the Borrower, (iii) the purchase or other acquisition of such Loan by the Servicer or its Affiliates in accordance with the terms hereof, or (iv) the sale of such Loan by the Holder in accordance with Section 11.3 below. Whether or not this Servicing Agreement is terminated with respect to specific Loans pursuant to any of clauses (i) – (iv) above, it shall remain in full force and effect with respect to all other Loans.
Termination as to Specific Loans. Each Servicing Agreement shall terminate as to a specific Loan upon (a) write-off of such Loan pursuant to Navient’s policies and procedures, (b) the payment in full of all principal and interest by or on behalf of the applicable borrower, or, in the case of a FFELP Loan, the Secretary or the applicable Guarantor, or (c) the sale, transfer or assignment of such Loan by Navient or the Affiliate of Navient or a special purpose securitization or financing vehicle sponsored by Navient that owns such Loan (an “Affiliated Owner”) on a servicing-released basis, in which such Loan is not sold or transferred to Navient or an Affiliated Owner and not serviced under such Servicing Agreement, or (d) the sale, transfer or assignment of such Loan by Navient or an Affiliated Owner on a servicing-retained basis to a Person that is not Navient or an Affiliated Owner, in which case such Loan will be serviced by Servicer under another Servicing Agreement having substantially the same terms. Each sale pursuant to clause (c) or (d) of this Section 32.2 shall be subject to Section 32.7 and Section 6.3. Whether or not any Servicing Agreement is terminated with respect to specific Loans pursuant to any of clause (a), (b), (c) or (d) of this Section 32.2, it shall remain in full force and effect with respect to all other Loans.
