Common use of General Duties and Authority Clause in Contracts

General Duties and Authority. METROPOLITAN shall provide receivable acquisition services to ARIZONA LIFE which shall be performed substantially in compliance with the following: a. METROPOLITAN shall secure opportunities for ARIZONA LIFE to purchase receivables through the use of METROPOLITAN's branch office system, industry contacts and the other methods developed by METROPOLITAN for its own receivable purchases. b. In reviewing the receivables offered to ARIZONA LIFE, METROPOLITAN shall review, among other things, the receivable loan to value ratio, security value, security condition, payment record, payor's credit, collateral title reports and legal documents, taking into account the investment guidelines provided by ARIZONA LIFE. c. METROPOLITAN or its agent, shall close the receivable purchase in a manner and using practices which are consistent with industry standards for the location where the receivable is closed. d. Loans resulting from financing that may be provided by METROPOLITAN as a means to induce the purchase of property (e.g. for the financing of repossession resales or other seller financing) may be placed in ARIZONA LIFE's receivable portfolio if such receivables are consistent with ARIZONA LIFE's investment guidelines, as set forth in Exhibit A. e. METROPOLITAN shall prepare and maintain such books, records, computer systems and procedures as shall be required and necessary to maintain control over the day to day activities regarding offers to purchase and closing of receivable purchases. f. METROPOLITAN shall furnish to ARIZONA LIFE such periodic, special or other reports or information as requested by ARIZONA LIFE including reports of total receivables purchased, closing periods and closing costs. All such reports, documents or information shall be provided by and in accordance with all reasonable instructions and directions which ARIZONA LIFE may give. g. METROPOLITAN may carry out any other activity or procedure, which in METROPOLITAN's discretion, is necessary or appropriate in connection with the acquisition and closing of the receivables for the benefit of ARIZONA LIFE. 2. RECEIVABLE ACQUISITION YIELD REQUIREMENT: ARIZONA LIFE shall purchase receivables from METROPOLITAN at the yield requirement established by ARIZONA LIFE. Such yield requirement may be changed by ARIZONA LIFE at any time and from time to time in its sole discretion. Such changes will apply prospectively for all acquisitions made subsequent to the change. 3.

General Duties and Authority. METROPOLITAN shall provide receivable acquisition services to ARIZONA LIFE SUMMIT which shall be performed substantially in compliance with the following: a. METROPOLITAN shall secure opportunities for ARIZONA LIFE SUMMIT to purchase receivables through the use of METROPOLITAN's branch office system, industry contacts and the other methods developed by METROPOLITAN for its own receivable purchases. b. In reviewing the receivables offered to ARIZONA LIFESUMMIT, METROPOLITAN shall review, among other things, the receivable loan to value ratio, security value, security condition, payment record, payor's credit, collateral security title reports and legal documents, taking into account the investment guidelines provided by ARIZONA LIFESUMMIT. c. METROPOLITAN or its agent, shall close the receivable purchase in a manner and using practices which are consistent with industry standards for the location where the receivable is closed. d. Loans resulting from financing that may be provided by METROPOLITAN as a means to induce the purchase of property (e.g. for the financing of repossession resales or other seller financing) may be placed in ARIZONA LIFESUMMIT's receivable portfolio if such receivables are consistent with ARIZONA LIFESUMMIT's investment guidelines, as set forth in Exhibit A. . e. METROPOLITAN shall prepare and maintain such books, records, computer systems and procedures as shall be required and necessary to maintain control over the day to day activities regarding offers to purchase and closing of receivable purchases. f. METROPOLITAN shall furnish to ARIZONA LIFE SUMMIT such periodic, special or other reports or information as requested by ARIZONA LIFE SUMMIT including reports of total receivables purchased, closing periods and closing costs. All such reports, documents or information shall be provided by and in accordance with all reasonable instructions and directions which ARIZONA LIFE SUMMIT may give. g. METROPOLITAN may carry out any other activity or procedure, which in METROPOLITAN's discretion, is necessary or appropriate in connection with the acquisition and closing of the receivables for the benefit of ARIZONA LIFESUMMIT. 2. RECEIVABLE ACQUISITION YIELD REQUIREMENTSERVICES FEE: ARIZONA LIFE SUMMIT shall purchase receivables from pay METROPOLITAN at fees for Receivable Acquisition and Support Services provided by METROPOLITAN to SUMMIT. Fees shall be determined by mutual agreement of the yield requirement established by ARIZONA LIFE. Such yield requirement may be changed by ARIZONA LIFE at any time and from time to time in its sole discretion. Such changes will apply prospectively for all acquisitions made subsequent to the changeparties. 3.

General Duties and Authority. METROPOLITAN shall provide receivable acquisition services to ARIZONA LIFE OLD STANDARD which shall be performed substantially in compliance with the following: a. METROPOLITAN shall secure opportunities for ARIZONA LIFE OLD STANDARD to purchase receivables through the use of METROPOLITAN's branch office system, industry contacts and the other methods developed by METROPOLITAN for its own receivable purchases. b. In reviewing the receivables offered to ARIZONA LIFEOLD STANDARD, METROPOLITAN shall review, among other things, the receivable loan to value ratio, security value, security condition, payment record, payor's credit, collateral security title reports and legal documents, taking into account the investment guidelines provided by ARIZONA LIFEOLD STANDARD. c. METROPOLITAN or its agent, shall close the receivable purchase in a manner and using practices which are consistent with industry standards for the location where the receivable is closed. d. Loans resulting from financing that may be provided by METROPOLITAN as a means to induce the purchase of property (e.g. for the financing of repossession resales or other seller financing) may be placed in ARIZONA LIFEOLD STANDARD's receivable portfolio if such receivables are consistent with ARIZONA LIFEOLD STANDARD's investment guidelines, as set forth in Exhibit A. . e. METROPOLITAN shall prepare and maintain such books, records, computer systems and procedures as shall be required and necessary to maintain control over the day to day activities regarding offers to purchase and closing of receivable purchases. f. METROPOLITAN shall furnish to ARIZONA LIFE OLD STANDARD such periodic, special or other reports or information as requested by ARIZONA LIFE OLD STANDARD including reports of total receivables purchased, closing periods and closing costs. All such reports, documents or information shall be provided by and in accordance with all reasonable instructions and directions which ARIZONA LIFE OLD STANDARD may give. g. METROPOLITAN may carry out any other activity or procedure, which in METROPOLITAN's discretion, is necessary or appropriate in connection with the acquisition and closing of the receivables for the benefit of ARIZONA LIFEOLD STANDARD. 2. RECEIVABLE ACQUISITION YIELD REQUIREMENTSERVICES FEE: ARIZONA LIFE OLD STANDARD shall purchase receivables from pay METROPOLITAN at fees for Receivable Acquisition and Support Services provided by METROPOLITAN to OLD STANDARD. Fees shall be determined by mutual agreement of the yield requirement established by ARIZONA LIFE. Such yield requirement may be changed by ARIZONA LIFE at any time and from time to time in its sole discretion. Such changes will apply prospectively for all acquisitions made subsequent to the changeparties. 3.