Common use of Collection of Receivable Payments; Modifications of Receivables Clause in Contracts

Collection of Receivable Payments; Modifications of Receivables. (a) Consistent with the standards, policies and procedures required by this Agreement, 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 motor vehicle receivables that it services for itself or others and otherwise act with respect to the Receivables in such a manner as will, in the reasonable judgment of the Servicer, maximize the amount to be received by the Trust with respect thereto. The Servicer is authorized in its discretion to waive any prepayment charge, late payment charge or any other similar fees that may be collected in the ordinary course of servicing any Receivable. (b) The Servicer may grant payment deferments only to the extent permissible in its “Collection and Servicing Guidelines” as in effect from time to time; provided, that no such deferment shall extend the final payment date on any Receivable beyond the last day of the Collection Period immediately preceding the Class A-4 Final Scheduled Payment Date. (c) Upon any deferment not in accordance with this Section, the Servicer shall be required to purchase the related Receivable in accordance with Section 4.07.

Collection of Receivable Payments; Modifications of Receivables. (a) Consistent with the standards, policies and procedures required by this Agreement, 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 motor vehicle receivables that it services for itself or others and otherwise act with respect to the Receivables in such a manner as will, in the reasonable judgment of the Servicer, maximize the amount to be received by the Trust with respect thereto. The Servicer is authorized in its discretion to waive any prepayment charge, late payment charge or any other similar fees that may be collected in the ordinary course of servicing any Receivable. (b) The Servicer may grant payment deferments extensions only to the extent permissible in its “"Collection and Servicing Guidelines” " as in effect from time to time; provided, that no such deferment extension shall extend the final payment date on any Receivable beyond the last day of the Collection Period immediately preceding ending six months prior to the Class A-4 B Final Scheduled Payment Date. (c) Upon any deferment extension not in accordance with this Section, the Servicer shall be required to purchase the related Receivable in accordance with Section 4.07.

Collection of Receivable Payments; Modifications of Receivables. (a) Consistent with the standards, policies and procedures required by this Agreement, 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 motor vehicle receivables that it services for itself or others and otherwise act with respect to the Receivables in such a manner as will, in the reasonable judgment of the Servicer, maximize the amount to be received by the Trust with respect thereto. The Servicer is authorized in its discretion to waive any prepayment charge, late payment charge or any other similar fees that may be collected in the ordinary course of servicing any Receivable. (b) The Servicer may grant payment deferments only to the extent permissible in its “Collection and Servicing Guidelines” as in effect from time to time; provided, that no such deferment shall extend the final payment date on any Receivable beyond the last day of the Collection Period immediately preceding the Class A-4 B Final Scheduled Payment Date. (c) Upon any deferment not in accordance with this Section, the Servicer shall be required to purchase the related Receivable in accordance with Section 4.07.

Collection of Receivable Payments; Modifications of Receivables. (a) Consistent with the standards, policies and procedures required by this Agreement, 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 motor vehicle receivables that it services for itself or others and otherwise act with respect to the Receivables in such a manner as will, in the reasonable judgment of the Servicer, maximize the amount to be received by the Trust with respect theretoothers. The Servicer is authorized in its discretion to waive any prepayment charge, late payment charge or any other similar fees that may be collected in the ordinary course of servicing any Receivable. (b) The Subject to Section 4.06, the Servicer may grant payment deferments only to the extent permissible extensions, rebates, deferrals, amendments, modifications or adjustments on a Receivable in accordance with its “Collection and Servicing Guidelines” as in effect from time to timecustomary servicing practices; provided, however, that no such deferment shall extend if the Servicer (i) extends the date for final payment date on by the Obligor of any Receivable beyond the last day of the Collection Period immediately preceding prior to the Class A-4 Final Scheduled Payment Date. D Maturity Date or (cii) Upon reduces the APR or unpaid principal balance with respect to any deferment not in accordance with this SectionReceivable other than as required by applicable law, the Servicer shall be required to it will promptly purchase the related such Receivable in accordance with the manner provided in Section 4.07.

Collection of Receivable Payments; Modifications of Receivables. (a) Consistent with the standards, policies and procedures required by this Agreement, 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 motor vehicle receivables that it services for itself or others and otherwise act with respect to the Receivables in such a manner as will, in the reasonable judgment of the Servicer, maximize the amount to be received by the Trust with respect theretoothers. The Servicer is authorized in its discretion to waive any prepayment charge, late payment charge or any other similar fees that may be collected in the ordinary course of servicing any Receivable. (b) The Subject to Section 4.06, the Servicer may grant payment deferments only to the extent permissible extensions, rebates, deferrals, amendments, modifications or adjustments on a Receivable in accordance with its “Collection and Servicing Guidelines” as in effect from time to timecustomary servicing practices; provided, however, that no such deferment shall extend if the Servicer (i) extends the date for final payment date on by the Obligor of any Receivable beyond the last day of the Collection Period immediately preceding prior to the Class A-4 Final Scheduled Payment Date. Maturity Date or (cii) Upon reduces the APR or unpaid principal balance with respect to any deferment not in accordance with this SectionReceivable other than as required by applicable law, the Servicer shall be required to it will promptly purchase the related such Receivable in accordance with the manner provided in Section 4.07.

Collection of Receivable Payments; Modifications of Receivables. (a) Consistent with the standards, policies and procedures required by this Agreement, 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 motor vehicle receivables that it services for itself or others and otherwise act with respect to the Receivables in such a manner as will, in the reasonable judgment of the Servicer, maximize the amount to be received by the Trust with respect thereto. The Servicer is authorized in its discretion to waive any prepayment charge, late payment charge or any other similar fees that may be collected in the ordinary course of servicing any Receivable. (b) The Servicer may grant payment deferments only to the extent permissible in its “"Collection and Servicing Guidelines” " as in effect from time to time; provided, that no such deferment shall extend the final payment date on any Receivable beyond the last day of the Collection Period immediately preceding the Class A-4 B Final Scheduled Payment Date. (c) Upon any deferment not in accordance with this Section, the Servicer shall be required to purchase the related Receivable in accordance with Section 4.07.

Collection of Receivable Payments; Modifications of Receivables. (a) Consistent with the standards, policies and procedures required by this Agreement, 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 motor vehicle receivables that it services for itself or others and otherwise act with respect to the Receivables in such a manner as will, in the reasonable judgment of the Servicer, maximize the amount to be received by the Trust with respect theretoothers. The Servicer is authorized in its discretion to waive any prepayment charge, late payment charge or any other similar fees that may be collected in the ordinary course of servicing any Receivable. (b) The Subject to Section 4.06, the Servicer may grant payment deferments only to the extent permissible extensions, rebates, deferrals, amendments, modifications or adjustments on a Receivable in accordance with its “Collection 21 (2006-A Sale and Servicing Guidelines” as in effect from time to timeAgreement) customary servicing practices; provided, however, that no such deferment shall extend if the Servicer (i) extends the date for final payment date on by the Obligor of any Receivable beyond the last day of the Collection Period immediately preceding prior to the Class A-4 Final Scheduled Payment Date. D Maturity Date or (cii) Upon reduces the APR or unpaid principal balance with respect to any deferment not in accordance with this SectionReceivable other than as required by applicable law, the Servicer shall be required to it will promptly purchase the related such Receivable in accordance with the manner provided in Section 4.07.

Collection of Receivable Payments; Modifications of Receivables. (a) Consistent with the standards, policies and procedures required by this Agreement, 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 motor vehicle receivables that it services for itself or others and otherwise act with respect to the Receivables in such a manner as will, in the reasonable judgment of the Servicer, maximize the amount to be received by the Trust with respect thereto. The Servicer is authorized in its discretion to waive any prepayment charge, late payment charge or any other similar fees that may be collected in the ordinary course of servicing any Receivable. (b) The Servicer may grant payment deferments only to the extent permissible in its “Collection and Servicing Guidelines” as in effect from time to time; provided, that no such deferment shall extend the final payment date on any Receivable beyond the last day of the Collection Period immediately preceding the Class A-4 [A-4][B] Final Scheduled Payment Date. (c) Upon any deferment not in accordance with this Section, the Servicer shall be required to purchase the related Receivable in accordance with Section 4.07.

Collection of Receivable Payments; Modifications of Receivables. (a) Consistent with the standards, policies and procedures required by this Agreement, 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 motor vehicle receivables that it services for itself or others and otherwise act with respect to the Receivables in such a manner as will, in the reasonable judgment of the Servicer, maximize the amount to be received by the Trust with respect thereto. The Servicer is authorized in its discretion to waive any prepayment charge, late payment charge or any other similar fees that may be collected in the ordinary course of servicing any Receivable. (b) The Servicer may grant payment deferments extensions on the Receivables only to the extent permissible in its “Collection and Servicing Guidelines” extension policy attached hereto as in effect from time to timeExhibit D; provided, however, that no such deferment extension shall extend the final payment date on any Receivable beyond the last day of the Collection Period immediately preceding ending six months prior to the Class A-4 [C] Certificate Final Scheduled Payment Distribution Date. (c) Upon any deferment extension not in accordance with this Section, the Servicer shall be required to purchase the related Receivable in accordance with Section 4.07.

Collection of Receivable Payments; Modifications of Receivables. (a) Consistent with the standards, policies and procedures required by this Agreement, 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 motor vehicle receivables that it services for itself or others and otherwise act with respect to the Receivables in such a manner as will, in the reasonable judgment of the Servicer, maximize the amount to be received by the Trust with respect thereto. The Servicer is authorized in its discretion to waive any prepayment charge, late payment charge or any other similar fees that may be collected in the ordinary course of servicing any Receivable. (b) The Servicer may grant payment deferments only to the extent permissible in its “"Collection and Servicing Guidelines” " as in effect from time to time; provided, that no such deferment shall extend the final payment date on any Receivable beyond the last day of the Collection Period immediately preceding the Class A-4 Final Scheduled Payment Date. (c) Upon any deferment not in accordance with this Section, the Servicer shall be required to purchase the related Receivable in accordance with Section 4.07.