Common use of Collection of Program Receivables Clause in Contracts

Collection of Program Receivables. (a) [The Subservicer is hereby authorized to grant extensions, rebates, deferrals, amendments, modifications, temporary reductions in payments or adjustments with respect to the Program Receivables in accordance with its Customary Servicing Practices][Insert any applicable restrictions on extensions, rebates deferrals, amendments, modifications, temporary reductions or adjustments]. (b) [The Subservicer is authorized in accordance with its Customary Servicing Practices to waive any late payment charge or other fee that may be collected in the ordinary course of servicing a receivable][Insert any applicable restrictions on waivers]. (c) [Insert description of any special servicing restrictions or requirements.]