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 Master 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 indirect motor vehicle receivables that it services for itself and otherwise act with respect to the Receivables in such a manner as will, in the reasonable judgment of the Master Servicer, maximize the amount to be received by the Trust with respect thereto. The Master Servicer is authorized in its discretion to waive any late payment charge or any other similar fees that may be collected in the ordinary course of servicing any Receivable. (b) The Master Servicer may grant payment extensions on the Receivables only to the extent permissible in its extension policy attached hereto as Exhibit D; provided, however, that no such extension shall extend the final Payment Date on any Receivable beyond the last day of the Collection Period ending six months prior to the Class C Final Scheduled Payment Date. (c) Upon any extension not in accordance with this Section, the Master 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 Master 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 indirect motor vehicle receivables that it services for itself and otherwise act with respect to the Receivables in such a manner as will, in the reasonable judgment of the Master Servicer, maximize the amount to be received by the Trust with respect thereto. The Master 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 Master Servicer may grant payment extensions on the Receivables only to the extent permissible in its extension policy attached hereto Collection and Servicing Guidelines as Exhibit Din effect from time to time; provided, however, that no such extension shall extend the final Payment Date payment date on any Receivable beyond the last day of the Collection Period ending six months prior to the Class C Certificate Final Scheduled Payment Date. (c) Upon any extension not in accordance with this Section, the Master 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 Master 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 indirect motor vehicle receivables that it services for itself and otherwise act with respect to the Receivables in such a manner as will, in the reasonable judgment of the Master Servicer, maximize the amount to be received by the Trust with respect thereto. The Master 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 Master Servicer may grant payment extensions on the Receivables only to the extent permissible in its extension policy attached hereto as Exhibit D; provided, however, that no such extension shall extend the final Payment Date payment date on any Receivable beyond the last day of the Collection Period ending six months prior to the Class C [C] Certificate Final Scheduled Payment Date. (c) Upon any extension not in accordance with this Section, the Master 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 Master 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 indirect motor vehicle receivables that it services for itself and otherwise act with respect to the Receivables in such a manner as will, in the reasonable judgment of the Master Servicer, maximize the amount to be received by the Trust with respect thereto. The Master 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 Master Servicer may grant payment extensions on the Receivables only to the extent permissible in its extension policy attached hereto as Exhibit D; provided, however, that no such extension shall extend the final Payment Date payment date on any Receivable beyond the last day of the Collection Period ending six months prior to the Class C Final Scheduled Payment Date. (c) Upon any extension not in accordance with this Section, the Master 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 Master 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 indirect motor vehicle receivables that it services for itself and otherwise act with respect to the Receivables in such a manner as will, in the reasonable judgment of the Master Servicer, maximize the amount to be received by the Trust with respect thereto. The Master 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 Master Servicer may grant payment extensions on the Receivables only to the extent permissible in its extension policy attached hereto as Exhibit DD-1; provided, however, that no such extension shall extend the final Payment Date payment date on any Receivable beyond the last day of the Collection Period ending six months prior to the Class C Final Scheduled Payment Date. (c) Upon any extension not in accordance with this Section, the Master 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 Master 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 indirect motor vehicle receivables that it services for itself and otherwise act with respect to the Receivables in such a manner as will, in the reasonable judgment of the Master Servicer, maximize the amount to be received by the Trust with respect thereto. The Master 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 Master Servicer may grant payment extensions on the Receivables only to the extent permissible in its extension policy attached hereto as Exhibit D; provided, however, that no such extension shall extend the final Payment Date payment date on any Receivable beyond the last day of the Collection Period ending six months prior to the Class C Certificate Final Scheduled Payment Distribution Date. (c) Upon any extension not in accordance with this Section, the Master Servicer shall be required to purchase the related Receivable in accordance with Section 4.07.