Common use of Collection of Receivables by the Servicer; Extensions and Amendments of Receivables Clause in Contracts

Collection of Receivables by the Servicer; Extensions and Amendments of Receivables. The Servicer shall take or cause to be taken all such actions as may be necessary or advisable to collect each Receivable from time to time, all in accordance with applicable laws, rules and regulations, with reasonable care and diligence, and in accordance with the Credit and Collection Policy; provided, however, that, (a) the Buyer shall have the absolute and unlimited right to direct the Servicer (whether the Servicer is OutSource International, an Originator or otherwise) to commence or settle any legal action, to enforce collection of any Transferred Asset or to foreclose upon or repossess any Related Security, and (b) the Servicer shall not make the Buyer a party to any litigation without the express written consent of the Buyer. If the Termination Date shall not have occurred, OutSource International, while it is Servicer, may, in accordance with the Credit and Collection Policy, (1) extend the maturity or adjust the Outstanding Balance of any Defaulted Receivable as OutSource International may determine to be appropriate to maximize Collections thereof and (2) adjust the Outstanding Balance of any Receivable to reflect Actual Dilution and any reductions or cancellations as a result of setoff in respect of any claim by the Obligor thereof, in accordance with the requirements of the Credit and Collection Policy and provided that such extension or adjustment shall not alter the status of such Receivable as a Defaulted Receivable or limit the rights of the Buyer under this Agreement. Except as otherwise permitted pursuant to the next preceding sentence, neither the Servicer nor the Originators will extend, amend, cancel or otherwise modify the terms of any Transferred Asset, or amend, modify, cancel or waive any term or condition of any Contract related thereto without the prior written approval of the Buyer.

Collection of Receivables by the Servicer; Extensions and Amendments of Receivables. The Servicer shall take or cause to be taken all such actions as may be necessary or advisable to collect each Receivable from time to time, all in accordance with applicable laws, rules and regulations, with reasonable care and diligence, and in accordance with the Credit and Collection Policy; providedPROVIDED, howeverHOWEVER, that, (a) the Buyer Deal Agent shall have the absolute and unlimited right to direct the Servicer (whether the Servicer is OutSource Internationalthe Seller, an Originator or otherwise) to commence or settle any legal action, to enforce collection of any Transferred Asset Purchased Receivable or to foreclose upon or repossess any Related Security, and (b) the Servicer shall not make the Buyer Deal Agent or the Purchaser a party to any litigation without the express written consent of the BuyerDeal Agent or the Purchaser, as the case may be. If the Termination Date shall not have occurred, OutSource InternationalSuperior, while it is Servicer, may, in accordance with the Credit and Collection Policy, (1a) extend the maturity or adjust the Outstanding Balance of any Defaulted Receivable as OutSource International Superior may determine to be appropriate to maximize Collections thereof and (2b) adjust the Outstanding Balance of any Receivable to reflect Actual Dilution and any the reductions or cancellations as a result of setoff resulting from any Dilution Factor, in respect of any claim by the Obligor thereof, each such case in accordance with the requirements of the Credit and Collection Policy and provided that such extension or adjustment shall not alter the status of such Receivable as a Defaulted Receivable or limit the rights of the Buyer Purchaser or Deal Agent under this Agreement. Except as otherwise permitted pursuant to the next preceding sentence, neither the Servicer nor the Originators Seller will extend, amend, cancel or otherwise modify the terms of any Transferred AssetPurchased Receivable, or amend, modify, cancel or waive any term or condition of any Contract related thereto without the prior written approval of the BuyerDeal Agent.

Collection of Receivables by the Servicer; Extensions and Amendments of Receivables. The Servicer shall take or cause to be taken all such actions as may be necessary or advisable to collect each Receivable from time to time, all in accordance with applicable laws, rules and regulations, with reasonable care and diligence, and in accordance with the Credit and Collection Policy; provided, however, that, (a) the Buyer Deal Agent shall have the absolute and unlimited right to direct the Servicer (whether the Servicer is OutSource Internationalthe Seller, an Originator or otherwise) to commence or settle any legal action, to enforce collection of any Transferred Asset Purchased Receivable or to foreclose upon or repossess any Related Security, and (b) the Servicer shall not make the Buyer Deal Agent or the Purchaser a party to any litigation without the express written consent of the BuyerDeal Agent or the Purchaser, as the case may be. If the Termination Date shall not have occurred, OutSource International, while it is Servicer, may, in accordance with the Credit and Collection Policy, (1a) extend the maturity or adjust the Outstanding Balance of any Defaulted Receivable as OutSource International may determine to be appropriate to maximize Collections thereof and (2b) adjust the Outstanding Balance of any Receivable to reflect Actual Dilution and any the reductions or cancellations as a result described in the first sentence of setoff Section 2.07, in respect of any claim by the Obligor thereof, each such case in accordance with the requirements of the Credit and Collection Policy and provided that such extension or adjustment shall not alter the status of such Receivable as a Defaulted Receivable or limit the rights of the Buyer Purchaser or Deal Agent under this Agreement. Except as otherwise permitted pursuant to the next preceding sentence, neither the Servicer nor the Originators Seller will extend, amend, cancel or otherwise modify the terms of any Transferred AssetPurchased Receivable, or amend, modify, cancel or waive any term or condition of any Contract related thereto without the prior written approval of the BuyerDeal Agent.