Amendment of Receivable Terms Clause Samples
The Amendment of Receivable Terms clause allows the parties to modify the terms and conditions associated with receivables, such as payment schedules, interest rates, or other obligations owed by debtors. In practice, this clause typically outlines the process for making changes, which may require mutual consent or written notice, and specifies which party has the authority to initiate amendments. Its core function is to provide flexibility in managing receivables, ensuring that the agreement can adapt to changing circumstances or business needs without breaching the original contract.
Amendment of Receivable Terms. The Servicer shall not impair in any material respect the rights of the Depositor, the Trust, the Owner Trustee, the Indenture Trustee, the Certificateholders or the Noteholders in the Receivables or, except as permitted under Section 3.2, otherwise amend or alter the terms of the Receivables if, as a result of such amendment or alteration, the interests of the Depositor, the Trust, the Owner Trustee, the Indenture Trustee, the Certificateholders or the Noteholders hereunder would be materially adversely affected.
Amendment of Receivable Terms. 25 SECTION 3.7 Purchase by Servicer upon Breach ....................................... 25 SECTION 3.8
Amendment of Receivable Terms. The Servicer shall not impair in any material respect the rights of the Depositor, the Trust, the Grantor Trust, the Owner Trustee, the Grantor Trust Trustee, the Indenture Trustee, the Certificateholders or the Noteholders in the Receivables or, except as permitted under Section 3.2, otherwise amend or alter the terms of the Receivables if, as a result of such amendment or alteration, the interests of the Depositor, the Trust, the Grantor Trust, the Owner Trustee, the Grantor Trust Trustee, the Indenture Trustee, the Certificateholders or the Noteholders hereunder would be materially adversely affected.
Amendment of Receivable Terms. The Servicer shall not impair in any material respect the rights of the Depositor, the Trust, [the Grantor Trust,] the Owner Trustee, [the Grantor Trust Trustee,] the Indenture Trustee, [the Swap Counterparty,] the Certificateholders or the Noteholders in the Receivables or, except as permitted under Section 3.2, otherwise amend or alter the terms of the Receivables if, as a result of such amendment or alteration, the interests of the Depositor, the Trust, [the Grantor Trust,] the Owner Trustee, [the Grantor Trust Trustee,] the Indenture Trustee, [the Swap Counterparty,] the Certificateholders or the Noteholders hereunder would be materially adversely affected.