Common use of Collection and Allocation of Receivable Payments Clause in Contracts

Collection and Allocation of Receivable Payments. (a) The Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Receivables as and when the same shall become due and shall follow such collection procedures as it follows with respect to all comparable automotive receivables that it services for itself or others. The Servicer shall allocate collections between principal and interest in accordance with the customary servicing procedures it follows with respect to all comparable automotive receivables that it services for itself or others.

Appears in 11 contracts

Samples: Sale and Servicing Agreement (Barnett Auto Receivables Corp), Pooling and Servicing Agreement (Mellon Auto Receivables Corp), Form of Sale and Servicing Agreement (Mellon Auto Receivables Corp)

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Collection and Allocation of Receivable Payments. (a) The Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Receivables as and when the same shall become due and shall follow such collection procedures as it follows with respect to all comparable automotive receivables that it services for itself or others. The Servicer shall allocate collections between principal and interest in accordance with the its customary servicing procedures it follows and, in the case of Discounted Receivables, in accordance with respect to all comparable automotive receivables that it services for itself or othersthe discounting thereof.

Appears in 8 contracts

Samples: Sale and Servicing Agreement (Franklin Auto Trust 2003-2), Sale and Servicing Agreement (Franklin Auto Trust 2007-1), Sale and Servicing Agreement (Franklin Receivables LLC)

Collection and Allocation of Receivable Payments. (a) The Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Receivables as and when the same shall become due and shall follow such collection procedures as it follows with respect to all comparable automotive receivables that it services for itself or others. The Servicer shall allocate collections between principal and interest in accordance with the customary servicing procedures it follows with respect to all comparable automotive receivables that it services for itself and others. The Servicer may in its discretion waive any late payment charge or othersany other fees that may be collected in the ordinary course of servicing a Receivable.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Gs Mortgage Securities Corp), Pooling and Servicing Agreement (Gs Mortgage Securities Corp), Pooling and Servicing Agreement (Goldman Sachs Asset Backed Securities Corp)

Collection and Allocation of Receivable Payments. (a) The Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Receivables as and when the same shall become due and shall follow such collection procedures as it follows with respect to all comparable automotive receivables that it services for itself or others. The Servicer shall allocate collections between principal and interest in accordance with the its customary servicing procedures it follows with respect to all comparable automotive receivables that it services for itself or othersprocedures.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (Franklin Auto Trust 2008-A), Sale and Servicing Agreement (Franklin Receivables LLC), Execution Copy (Franklin Receivables LLC)

Collection and Allocation of Receivable Payments. (a) The Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Receivables as and when the same shall become due and shall follow such collection procedures as it follows is consistent with respect to all comparable automotive receivables that it services for itself or othersthe Servicing Standard. The Servicer shall allocate collections between principal and interest in accordance with the its customary servicing procedures it follows with respect to all comparable automotive receivables that it services for itself or othersprocedures.

Appears in 3 contracts

Samples: Sale and Servicing Agreement (Ml Asset Backed Corp), Sale and Servicing Agreement (Painewebber Asset Acceptance Corp), Sale and Servicing Agreement (Ml Asset Backed Corp)

Collection and Allocation of Receivable Payments. (a) The ------------------------------------------------ Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Receivables as and when the same shall become due and shall follow such collection procedures as it follows is consistent with respect to all comparable automotive receivables that it services for itself or othersthe Servicing Standard. The Servicer shall allocate collections between principal and interest in accordance with the its customary servicing procedures it follows with respect to all comparable automotive receivables that it services for itself or othersprocedures.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Prudential Securities Secured Financing Corp), Sale and Servicing Agreement (Prudential Securities Secured Financing Corp)

Collection and Allocation of Receivable Payments. (a) The Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Receivables as and when the same shall become due and shall follow such collection procedures as it follows with respect to all comparable automotive receivables that it services for itself or othersCustomary Practices and Procedures. The Servicer shall allocate collections between principal and interest in accordance with the customary servicing procedures it follows with respect to all comparable automotive receivables that it services for itself or others.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bank One Texas National Association), Pooling and Servicing Agreement (Bank One Texas National Association)

Collection and Allocation of Receivable Payments. ((a) The Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Receivables as and when the same shall become due and shall follow such collection procedures as it follows with respect to all comparable automotive receivables that it services for itself or others. The Servicer shall allocate collections between principal and interest in accordance with the customary servicing procedures it follows with respect to all comparable automotive receivables that it services for itself or others.

Appears in 2 contracts

Samples: Sale and Servicing (Ace Securities Corp), Sale and Servicing (Ace Securities Corp)

Collection and Allocation of Receivable Payments. (a) The Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Receivables as and when the same shall become due and shall follow such collection procedures as it follows with respect to all comparable automotive receivables that it services for itself or others. The Servicer shall allocate collections between principal and interest in accordance with the customary servicing procedures it follows with respect to all comparable automotive equipment receivables that it services for itself or others.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Case Receivables Ii Inc)

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Collection and Allocation of Receivable Payments. (a) The Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Receivables as and when the same shall become due and shall follow such collection procedures as it follows with respect to all comparable automotive equipment receivables that it services for itself or others. The Servicer shall allocate collections between principal and interest in accordance with the customary servicing procedures it follows with respect to all comparable automotive receivables that it services for itself or others.between

Appears in 1 contract

Samples: Sale and Servicing Agreement (Case Receivables Ii Inc)

Collection and Allocation of Receivable Payments. (a) The Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Receivables as and when the same shall become due and shall follow such collection procedures as it follows with respect to all comparable automotive receivables that it services for itself or others. The Servicer shall allocate collections between principal and interest in accordance with the customary servicing procedures it follows with respect to all comparable automotive receivables that it services for itself or others.services

Appears in 1 contract

Samples: Sale and Servicing Agreement (Premier Auto Trust 1996-4)

Collection and Allocation of Receivable Payments. (a) The Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Receivables as and when the same shall become due and shall follow such collection procedures as it follows with respect to all comparable automotive receivables that it services for itself or others. The Servicer shall allocate collections between principal and interest in accordance with the customary servicing procedures it follows with respect to all comparable automotive receivables that it services for itself or others.comparable

Appears in 1 contract

Samples: Sale and Servicing Agreement (Premier Auto Trust 1997 1)

Collection and Allocation of Receivable Payments. (a) The Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Receivables as and when the same shall become due and shall follow such collection procedures as it follows with respect to all comparable automotive receivables that it services for itself or others, and in any event with no less degree of skill and care than would be exercised by a prudent servicer of non-prime retail motor vehicle installment sales contracts. The Servicer shall allocate collections between principal and interest in accordance with the its customary servicing procedures it follows with respect to all comparable automotive receivables that it services for itself or othersprocedures.

Appears in 1 contract

Samples: Sale and Servicing (Nationsfinancial Funding Corp)

Collection and Allocation of Receivable Payments. (a) The Servicer shall make all reasonable efforts to collect all payments called for under the terms and provisions of the Receivables as and when the same shall become due and shall follow such collection procedures as it follows with respect to all comparable automotive receivables that it services for itself or others, and in any event with no less degree of skill and care than would be exercised by a prudent servicer of non-prime motor vehicle retail installment sales contracts. The Servicer shall allocate collections between principal and interest in accordance with the its customary servicing procedures it follows with respect to all comparable automotive receivables that it services for itself or othersprocedures.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (FCC Receivables Corp)

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