Contracts and Credit and Collection Policies Sample Clauses

Contracts and Credit and Collection Policies. The Seller shall take all actions reasonably within its control to cause each Originator to comply with and perform its obligations under the Contracts relating to the Receivables and the Credit and Collection Policy except insofar as any failure to comply or perform would not materially and adversely affect the rights of the Buyer. The Seller may change, and permit an Originator to change, the terms and provisions of the Contracts or the Credit and Collection Policy in any respect (i) if it would not, in the reasonable belief of the Seller, materially impair the collectibility of any Receivable or cause, immediately or with the passage of time, a Pay Out Event to occur and (ii) if such change (A) (if it owns a comparable segment of receivables) is made applicable to the comparable segment of the receivables owned by the Seller or such Originator, if any, which have characteristics the same as, or substantially similar to, the Receivables that are the subject of such change and (B) (if it does not own such a comparable segment of receivables) will not be made with the intent to materially benefit the Seller over the Buyer or to materially adversely affect the Buyer, except as otherwise restricted by an endorsement, sponsorship, or other agreement between the Seller and an unrelated third party or by the terms of the Contracts.
Sample 1Sample 2
AutoNDA by SimpleDocs
Contracts and Credit and Collection Policies. NBCU Funding shall comply with and perform its obligations under the Contracts with respect to any Transferred Receivables and the Credit and Collection Policies except it shall not constitute a breach under this clause (h) insofar as any such failure to comply or perform would not adversely affect the rights of WCS NBCU Funding in any material respect.
Sample 1Sample 2
Contracts and Credit and Collection Policies. The Seller shall take all actions reasonably within its control to comply with and perform its obligations under the Contracts relating to the Receivables and the Credit and Collection Policy except insofar as any failure to comply or perform would not materially and adversely affect the rights of the Buyer. The Seller may change the terms and provisions of the Contracts or the Credit and Collection Policy in any respect (i) if it would not, in the reasonable belief of the Seller, materially impair the collectibility of any Receivable or cause, immediately or with the passage of time, a Pay Out Event to occur and (ii) if such change (A) (if it owns a comparable segment of receivables) is made applicable to the comparable segment of the receivables owned by the Buyer or Seller, if any, which have characteristics the same as, or substantially similar to, the Receivables that are the subject of such change and (B) (if it does not own such a comparable segment of receivables) will not be made with the intent to materially benefit the Seller over the Buyer or to materially adversely affect the Buyer, except as otherwise restricted by an endorsement, sponsorship, or other agreement between the Seller and an unrelated third party or by the terms of the Contracts.
Sample 1Sample 2
Contracts and Credit and Collection Policies. Seller shall comply with and perform its obligations under the Contracts with respect to any Transferred Receivables and the Credit and Collection Policies except it shall not constitute a breach under this clause (i) insofar as any such failure to comply or perform would not adversely affect the rights of Buyer in any material respect. For the avoidance of doubt, in the event that Seller is no longer acting in its capacity as the Sub-Servicer it shall continue to perform the invoicing and billing procedures it would otherwise perform in the ordinary course of its business.
Sample 1Sample 2
Contracts and Credit and Collection Policies. The Transferor shall take all actions reasonably within its control to cause BTFC to comply with and perform its obligations under the Contracts relating to the Receivables and the Credit and Collection Policy except insofar as any failure to comply or perform would not materially and adversely affect the rights of the Trust or the Certificateholders hereunder or under the Certificates. The Transferor may change, and permit BTFC to change, the terms and provisions of the Contracts or the Credit and Collection Policy in any respect (i) if it would not, in the reasonable belief of the Transferor and BTFC, (A) provide for cancellation rights under the Contracts which would represent a material addition to, or otherwise reasonably would be viewed as being materially more favorable to the Obligor than, those in effect on the Closing Date with respect to Series 1996-1, (B) materially impair the collectibility of the Receivables, or (C) cause, immediately or with the passage of time, a Pay-Out-Event to occur, unless in each case such change is required in order to comply with Requirements of Law, (ii) if the Transferor or BTFC owns a comparable segment of contracts, such change is made applicable to the comparable segment of the contracts owned by the Transferor or BTFC, if any, which have characteristics the same as, or substantially similar to, the Contracts that are the subject of such change, and (iii) if such change is not made with the intent to materially benefit the Transferor or BTFC over the Investor Certificateholders or to materially adversely affect the Investor Certificateholders, except as otherwise restricted by an endorsement, sponsorship, or other agreement between BTFC and an unrelated third party or by the terms of the Contracts. Notwithstanding the foregoing, the Transferor shall not change, and shall not permit BTFC to change, the payment terms of any Receivable, provided, that BTFC may reduce the balance of individual Receivables from time to time through allowances (including those offered in connection with, or otherwise resulting from, cash out programs) and cancellations, consistent with the Credit and Collection Policies, which reductions shall constitute Dilutions in accordance with subsection 3.8(a).
Sample 1
Contracts and Credit and Collection Policies. The Transferor shall take all actions reasonably within its control to cause each Originator to comply with and perform its obligations under the Contracts relating to the Receivables and the Credit and Collection Policy except insofar as any failure to comply or perform would not materially and adversely affect the rights of the Trust or the Certificateholders hereunder or under the Certificates. The Transferor may change, and permit an Originator to change, the terms and provisions of the Contracts or the Credit and Collection Policy in any respect (i) if it would not, in the reasonable belief of the Transferor, materially impair the collectibility of any Receivable or cause, immediately or with the passage of time, a Pay Out Event to occur and (ii) if such change (A) (if it owns a comparable segment of receivables) is made applicable to the comparable segment of the receivables owned by the Transferor or such Originator, if any, which have characteristics the same as, or substantially similar to, the Receivables that are the subject of such change and (B) (if it does not own such a comparable segment of receivables) will not be made with the intent to materially benefit the Transferor over the Investor Certificateholders or to materially adversely affect the Investor Certificateholders, except as otherwise restricted by an endorsement, sponsorship, or other agreement between the Transferor and an unrelated third party or by the terms of the Contracts.
Sample 1
Contracts and Credit and Collection Policies. The Seller shall take all actions reasonably within its control to cause each Originator to comply with and perform its obligations under the Contracts and the Accounts and the Credit and Collection Policy except insofar as any failure so to comply or perform would not materially and adversely affect the rights of the Buyer hereunder. Except as such Originator deems necessary to maintain its credit card business on a competitive basis or as required by law, it will not reduce the annual percentage rates of the Periodic Finance Charges assessed in the Receivables or other fees charged on the Accounts if, as a result of any such reduction, a pay out event
Sample 1
AutoNDA by SimpleDocs

Related to Contracts and Credit and Collection Policies

  • Compliance with Contracts and Credit and Collection Policy Such Seller Party will timely and fully (i) perform and comply with all provisions, covenants and other promises required to be observed by it under the Contracts related to the Receivables, and (ii) comply in all respects with the Credit and Collection Policy in regard to each Receivable and the related Contract.

  • Credit and Collection Policies Comply in all material respects with the Credit and Collection Policy in regard to each Pool Receivable and the related Contract.

  • Modifications to Contracts and Credit and Collection Policy Such Seller Party will not make any change to the Credit and Collection Policy that could adversely affect the collectibility of the Receivables or decrease the credit quality of any newly created Receivables. Except as provided in Section 7.2(d), the Servicer will not, and will not extend, amend or otherwise modify the terms of any Receivable or any Contract related thereto other than in accordance with the Credit and Collection Policy.

  • Credit and Collection Policy The Servicer has complied in all material respects with the Credit and Collection Policy with regard to each Pool Receivable and the related Contracts.

  • Performance and Compliance with Contracts and Credit and Collection Policy The Seller shall (and shall cause the Servicer to), at its expense, timely and fully perform and comply with all material provisions, covenants and other promises required to be observed by it under the Contracts related to the Receivables, and timely and fully comply in all material respects with the applicable Credit and Collection Policies with regard to each Receivable and the related Contract.

  • Compliance with Credit and Collection Policy Such Seller Party has complied in all material respects with the Credit and Collection Policy with regard to each Receivable and the related Contract, and has not made any change to such Credit and Collection Policy, except such material change as to which the Agent has been notified in accordance with Section 7.1(a)(vii).

  • Change in Business or Credit and Collection Policy The Seller will not make any change in the character of its business or in the Credit and Collection Policy that would, in either case, materially adversely affect the collectibility of the Receivables Pool or the ability of the Seller to perform its obligations under this Agreement.

  • Change in Credit and Collection Policy At least thirty (30) days prior to the effectiveness of any material change in or material amendment to the Credit and Collection Policy, a copy of the Credit and Collection Policy then in effect and a notice (A) indicating such change or amendment, and (B) if such proposed change or amendment would be reasonably likely to adversely affect the collectibility of the Receivables or decrease the credit quality of any newly created Receivables, requesting the Agent's consent thereto.

  • Contracts Loans Checks and Deposits 7.3 The Board of Directors may authorize any officer, agent or agents, to enter into any contract or execute and deliver any instrument in the name of and on behalf of the Corporation, and such authority may be general or confined to a specific instance.

  • Customer Contracts Promptly after any Loan Party becoming aware of the same, the Borrower shall give the Administrative Agent written notice of any cancellation, termination or loss of any material Contractual Obligation or other customer arrangement.

Time is Money Join Law Insider Premium to draft better contracts faster.