Common use of Charge-Off Policy Clause in Contracts

Charge-Off Policy. Borrowers shall establish and implement, in a manner reasonably satisfactory to Agent, a policy for charging off the unpaid balance of its delinquent Contracts (it being acknowledged and agreed that Borrowers’ policy as in effect on December 17, 2021 is satisfactory to Agent).

Charge-Off Policy. Borrowers shall establish and implement, in a manner reasonably satisfactory to Agent, a policy for charging off the unpaid balance of its delinquent Contracts (it being acknowledged as set forth in the Credit and agreed that Borrowers’ Collections Guidelines. Borrowers shall not in any way modify such policy as in effect on December 17the Closing Date without providing 10 Business Days prior written notice to Agent of such modification and, 2021 if such modification is satisfactory a material modification, obtaining Agent’s consent to Agent)such material modification, which consent will not be unreasonably withheld.