Credit Guidelines. The policies and procedures of Credit Acceptance, relating to the extension of credit to automobile and light-duty truck dealers and consumers in respect of retail installment contracts for the sale of automobiles and/or light-duty trucks, including, without limitation, the policies and procedures for determining the creditworthiness of such dealers and consumers and, relating to this extension of credit to such dealers and consumers, the maintenance of installment sale contracts, as in effect on the Cut-Off Date and as amended from time to time in accordance herewith and with the other Transaction Documents, attached hereto as Schedule II. Custodian: Credit Acceptance, or any person appointed as Custodian pursuant to Section 6.2(d).
Credit Guidelines. The Borrower shall not make any changes in its Credit Guidelines (a copy of which has been previously furnished by the Borrower to the Lenders) without the Lenders’ prior written consent which any of the Lenders may withhold in its sole and absolute discretion. Any updates to the Credit Guidelines shall be submitted to the Agent for approval in accordance with this Section. The Borrower shall not purchase or otherwise acquire contracts which do not comply with the Credit Guidelines.
Credit Guidelines. Each Borrower represents and warrants that it shall not make any changes in its credit guidelines (a copy of which has been furnished by Borrowers to Agent and Lenders on the Closing Date) that are materially adverse to the interests of the Lenders hereunder without Agent’s prior written consent which Agent may withhold in its Permitted Discretion. Borrowers’ credit guidelines shall state in reasonable detail the credit criteria used by Borrowers in determining the creditworthiness of Contract Debtors with regard to the Contracts originated by Borrowers and/or originated by third parties, as appropriate.
Credit Guidelines. The Borrower shall not make any changes in its Credit Guidelines without the Agent's prior written consent which the Agent may withhold in its sole and absolute discretion. The Borrower shall not purchase or otherwise acquire Contracts which do not comply with the Credit Guidelines.
Credit Guidelines. Promptly upon the request of the Agent, a complete copy of the Credit Guidelines then in effect.
Credit Guidelines. Make any changes in its Credit Guidelines as in effect on the Closing Date without Collateral Agent’s prior written consent which Collateral Agent may withhold in its sole and absolute discretion. Colonial shall not purchase or otherwise acquire Contracts which do not comply with the Credit Guidelines.
Credit Guidelines. The Debtor shall not amend, modify or supplement its Credit Guidelines in any manner which would materially and adversely affect the Surety Bond Provider.
Credit Guidelines. Borrower shall not amend, modify or otherwise change in any respect the Credit Guidelines without the prior written consent of Lender. Borrower shall deliver to Lender promptly (but in any event not less that two (2) Business Days after such amendment, modification or change) a copy of any revised Credit Guidelines.
Credit Guidelines. Make any changes in the Credit Guidelines which were provided to and reviewed by Agent and Lenders prior to the Closing Date without prior written notice to Agent (it being understood and agreed that Agent may lower advance rates, establish Availability Reserves or adjust the criteria of ineligibility in the definition of “Eligible Contracts” based on (and reasonably related to) such change in the Credit Guidelines).
S. Section 10.2.26 of the Loan Agreement is hereby amended and restated in its entirety as follows:
Credit Guidelines. The policies of Credit Acceptance, relating to the extension of credit to automobile and light-duty truck dealers and consumers in respect of retail installment contracts for the sale of automobiles and/or light-duty trucks, including, without limitation, the policies for determining the creditworthiness of such dealers and consumers and, relating to this extension of credit to such dealers and consumers, the maintenance of installment sale contracts, as in effect on the Cut-Off Date and as amended from time to time in accordance herewith and with the other Transaction Documents or as required by Applicable Law, attached hereto as Schedule I. Custodian: Credit Acceptance, or any person appointed as Custodian pursuant to Section 6.2(d).
