Common use of Collections Payment Processing Remittance Clause in Contracts

Collections Payment Processing Remittance. (a) Collection Efforts, Policies, Procedures. (i) The Servicer shall collect Billed Energy Transition Charges for the Series A Bonds (including late charges in respect of Series Charges) from Customers as and when the same become due in accordance with such collection procedures as it follows with respect to comparable assets that it services for itself or others including, in accordance with Commission Regulations and the Servicer Policies and Practices, that: (A) The Servicer shall prepare and deliver overdue notices to Customers. (B) The Servicer shall deliver past-due and shut-off notices. (C) The Servicer may employ the assistance of collection agents. (D) The Servicer shall apply Customer deposits to the payment of delinquent accounts. (ii) The Servicer shall not waive any late payment charge or any other fee or charge relating to delinquent payments, if any, or waive, vary or modify any terms of payment of any amounts payable by a Customer, in each case unless such waiver or action: (A) would be in accordance with the Servicer Policies and Practices and (B) would comply in all material respects with applicable law. (iii) The Servicer shall accept payment from Customers in respect of Billed Energy Transition Charges for the Series A Bonds in such forms and methods and at such times and places in accordance with the Servicer Policies and Practices.