Common use of Collection of Contract Payments Clause in Contracts

Collection of Contract Payments. Consistent with the standards, policies and procedures required by this Agreement, the Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Contracts as and when the same shall become due and shall use its reasonable efforts to cause each Obligor to make all payments in respect of his or her Contract to the Servicer. Consistent with the foregoing and the Collection Policy, the Servicer may, on a case-by-case basis, in its discretion (i) waive any late payment charges in connection with delinquent payments on a Contract, (ii) waive any prepayment charges or (iii) grant an extension in order to work out a default or an impending default; provided that following the extension there will have been no more than two extensions of the related Contract in the last 12 months and the sum of the terms of all extensions of the Contract does not exceed six months. The Servicer shall not extend the Maturity Date of a Contract except as provided in clause (iii) of the preceding sentence. Except as explicitly permitted by this paragraph, the Servicer shall not change any material term of a Contract, including but not limited to the APR, the payment amounts or due dates, or the property securing such Contract unless the Insurer has provided prior written consent.

Collection of Contract Payments. Consistent with the standards, policies and procedures required by this Agreement, the Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Contracts as and when the same shall become due and shall use its reasonable efforts to cause each Obligor to make all payments in respect of his or her Contract to the Servicer. Consistent with the foregoing and the Collection Policy, the Servicer may, on a case-by-case basis, in its discretion (i) waive any late payment charges in connection with delinquent payments on a Contract, (ii) waive any prepayment charges or (iii) grant an extension in order to work out a default or an impending default; provided that following the extension there will have been no -------- more than two extensions of the related Contract in the last 12 months and the sum of the terms of all extensions of the Contract does not exceed six months. The Servicer shall not extend the Maturity Date of a Contract except as provided in clause (iii) of the preceding sentence. Except as explicitly permitted by this paragraph, the Servicer shall not change any material term of a Contract, including but not limited to the APR, the payment amounts or due dates, or the property securing such Contract unless the Insurer has provided prior written consent.

Collection of Contract Payments. Consistent with the standards, policies and procedures required by this Agreement, the Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Contracts as and when the same shall become due and shall use its reasonable efforts to cause each Obligor to make all payments in respect of his or her Contract to the Servicer. Consistent with the foregoing and the Collection Policyforegoing, the Servicer may, on a case-by-case basis, in its discretion (i) waive any late payment charges in connection with delinquent payments on a Contract, (ii) ii waive any prepayment charges or (iii) grant an extension in order to work out a default or an impending default; provided that following the extension there will have been no more than two extensions of the related Contract in the last 12 months and the sum of the terms of all extensions of the Contract does not exceed six months. The Servicer shall not extend the Maturity Date of a Contract except as provided in clause (iiiii) of the preceding sentence. Except as explicitly permitted by this paragraph, the Servicer shall not change any material term of a Contract, including but not limited to the APRinterest rate, the payment amounts or due dates, or the property securing such Contract unless the Insurer has provided prior written consent.

Collection of Contract Payments. Consistent with the standards, policies and procedures required by this Agreement, the Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Contracts as and when the same shall become due and shall use its reasonable efforts to cause each Obligor to make all payments in respect of his or her Contract to the Servicer. Consistent with the foregoing and the Collection Policyforegoing, the Servicer may, on a case-by-case basis, in its discretion (i) waive any late payment charges in connection with delinquent payments on a Contract, (ii) waive any prepayment charges or (iii) grant an extension in order to work out a default or an impending default; provided that following the extension there will have been no more than two extensions of the related Contract in the last 12 months and the sum of the terms of all extensions of the Contract does not exceed six months. The Servicer shall not extend the Maturity Date of a Contract except as provided in clause (iii) of the preceding sentence. Except as explicitly permitted by this paragraph, the Servicer shall not change any material term of a Contract, including but not limited to the APRinterest rate, the payment amounts or due dates, or the property securing such Contract unless the Insurer has provided prior written consent.