Common use of Credit Policy Clause in Contracts

Credit Policy. The Servicer will (i) comply in all material respects with the Credit Policy and the Servicing Standard in regard to the Collateral Portfolio, and (ii) furnish to the Agent, prior to its effective date, prompt written notice of any changes in the Credit Policy. The Servicer will not agree to or otherwise permit to occur any change in the Credit Policy that could have a Material Adverse Effect without the prior written consent of the Agent; provided that, no consent shall be required from the Agent in connection with any change mandated by Applicable Law or a Governmental Authority as evidenced by an Opinion of Counsel to that effect delivered to the Agent.