Neiman Marcus 2008 Annual Report Download - page 595

ARTICLE VII
OPERATING STANDARDS
7.1 Reports.
(a) Within fifteen (15) days after the end of each Fiscal Month or such other time as may be agreed by the Parties with respect to
particular reports, Bank shall provide to the Management Committee and NMG the reports specified in Schedule 7.1(a)(i) (which
reports shall be reported on a Fiscal Month, calendar month or cycles-basis, as agreed upon by the parties), and such other reports as
are mutually agreed to by the Parties from time to time. Within fifteen (15) days after the end of each Fiscal Month or such other time
as may be agreed by the Parties with respect to particular reports, NMG shall provide to the Management Committee and Bank the
reports specified in Schedule 7.1(a)(ii) (which reports shall be reported on a Fiscal Month, calendar month or cycles-basis, as agreed
upon by the parties), and such other reports as are mutually agreed to by the Parties from time to time.
(b) Within fifteen (15) days after the end of each Fiscal Month other than the last Fiscal Month of each Fiscal Year, NMG
Servicer shall deliver to Bank a statement, in the form set forth on Schedule 7.1(b), setting forth all information required to determine
the payments to be made by the Parties pursuant to this Agreement in respect of such Fiscal Month. Each such statement shall be
known as a "Monthly Settlement Sheet."
(c) Within thirty (30) days after the end of each Fiscal Year, NMG Servicer shall deliver to Bank a statement, in the form set
forth on Schedule 7.1(c), setting forth all information required to determine the payments to be made by the parties pursuant to this
Agreement in respect of the last Fiscal Month of such Fiscal Year and any annual payments to be made in respect of such Fiscal Year.
Each such statement shall be known as a "Year-End Settlement Sheet".
7.2 Servicing.
(a) As Services are transferred by NMG to Primary Servicer pursuant to the Servicing Agreement, Primary Servicer shall
perform such transferred Services in accordance with the terms and conditions of this Agreement, the Risk Management Policies and
the Operating Procedures. Without limiting the foregoing, Primary Servicer shall service the Accounts in compliance with Applicable
Law, in such a way as to not disparage or embarrass the NMG Companies or their names, with a level of service to Cardholders and
with no less care and diligence than the degree of care and diligence employed by NMG prior to the Effective Date. In addition,
without limiting the foregoing, with respect to the Services to be performed by Primary Servicer, Primary Servicer agrees that it shall
perform such functions with no less care and diligence than that degree of care and diligence employed by it in servicing the
Comparable Partner Programs.
(b) Upon transfer by NMG of any services pursuant to the Servicing Agreement, the Primary Servicer shall accept appointment
as servicer with respect to such Services and shall be required to meet the SLAs applicable to Primary Servicer for such Services set
forth in Schedule
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