Common use of Exception for Aggregated Debts Clause in Contracts

Exception for Aggregated Debts. Notwithstanding anything else in this Certification Agreement, with regard to direct referrals of Debt to TOP, the Creditor Agency may aggregate multiple debts into a single referral only if: (a) the Creditor Agency is actively making improvements so that it becomes operationally possible (i) to refer new debts to TOP in separate referrals, and (ii) to separate all aggregated debts previously referred to TOP; (b) these improvements are being made pursuant to a timeline that Fiscal Service has approved; and (c) the Creditor Agency ensures that the delinquency date listed for all its referrals, whether for Debts previously referred or to be referred in the future, reflects the most recent delinquency date of the multiple debts included in the referral.

Appears in 6 contracts

Samples: Certification Agreement, Certification Agreement, Certification Agreement

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