Modifications of Receivables Sample Clauses

Modifications of Receivables. The Seller and, in the case of the SUBI Seller, the Titling Trust, shall not extend, amend, forgive, discharge, compromise, cancel, waive or otherwise modify the terms or conditions of any Receivable except (i) as permitted under the Servicing Agreement and, (ii) to the extent that such extension, amendment, forgiveness, discharge, compromise, cancellation, waiver or modification, does not affect the Purchaser’s ownership or beneficial ownership interest in such Receivable and does not negatively impact the ultimate collectability of such Receivable.
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Modifications of Receivables. The Servicer shall not reschedule, revise downward or defer payments on a Receivable or modify the terms or conditions of the related contract in a manner adverse to the Trust unless the Agent shall have consented in writing to the same, provided that terminating or initiating electronic deductions from bank accounts of Obligors and adjustment in the related Receivable Rate, each in accordance with the terms of the related Receivables Documents, will not constitute a modification of the related Receivable.
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Modifications of Receivables. Except in connection with a reduction or increase in the interest rate not in excess of 1.0% in respect of an Obligor's election to begin or cease making payments via pre-authorized checking, in connection with Upgrades or in connection with modifications to comply with the Servicemembers Civil Relief Act, the Servicer shall not reschedule, revise downward or defer payments on a Receivable or modify the terms or conditions of the related Contract or Mortgage in a manner adverse to the Trust unless the Note Majority shall have consented in writing to the same; provided that the Servicer shall, without the consent of the Note Majority, be permitted to modify, waive or amend the terms or conditions of the related Contract with respect to Receivables representing not more than 1.00% of the aggregate advances made under the Notes in connection only with Workout Receivables.
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Modifications of Receivables. Contracts or Credit and Collection ---------------------------------------------------------------- Policies. The Borrower shall not, without the prior written consent of the -------- Administrative Agent, (i) extend, amend, forgive, discharge, compromise, waive, cancel or otherwise modify the terms of any Transferred Receivable or amend, modify or waive any term or condition of any Contract related thereto, provided, -------- that the Borrower may authorize the Servicer to take such actions as are expressly permitted by the terms of any Related Document or the Credit and Collection Policies, or (ii) amend, modify or waive any term or provision of the Credit and Collection Policies.
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Modifications of Receivables. 34 Section 3.3. Realization Upon Receivables.............................. 36 Section 3.4. Insurance................................................. 37 Section 3.5. Maintenance of Security Interests in Vehicles............. 37 Section 3.6. Covenants, Representations and Warranties of Servicer................................... 38 Section 3.7. Purchase of Receivables Upon Breach of Covenant.............................................. 43 Section 3.8. Servicing Fee; Payment of Certain Expenses by Servicer.............................................. 43 Section 3.9. Servicer's Certificate.................................... 43
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Related to Modifications of Receivables

  • Collection of Receivable Payments; Modifications of Receivables (a) Consistent with the standards, policies and procedures required by this Agreement, the Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Receivables as and when the same shall become due, and shall follow such collection procedures as it follows with respect to all comparable automobile receivables that it services for itself or others and otherwise act with respect to the Receivables, the Dealer Agreements, the Dealer Assignments, the Insurance Policies and the Other Conveyed Property in such manner as will, in the reasonable judgment of the Servicer, maximize the amount to be received by the Trust with respect thereto, including directing the Issuer to sell the Receivables pursuant to Section 4.3(c). The Servicer is authorized in its discretion to waive any prepayment charge, late payment charge or any other similar fees that may be collected in the ordinary course of servicing any Receivable.

  • Collection of Receivables Except as otherwise provided in this Security Agreement, such Grantor will collect and enforce, at such Grantor’s sole expense, all amounts due or hereafter due to such Grantor under the Receivables owned by it.

  • Characteristics of Receivables As of the Cut-Off Date (or such other date as may be specifically set forth below), each Receivable:

  • Servicing of Receivables The Master Servicer shall service the Receivables as required by the terms of this Agreement and in material compliance with its standard and customary procedures for servicing all its other comparable motor vehicle receivables and in compliance with applicable law; and

  • Extension or Amendment of Receivables Except as provided in the Agreement, the Seller shall not, and shall not permit the Servicer to, extend the maturity or adjust the Outstanding Balance or otherwise modify the terms of any Pool Receivable, or amend, modify or waive any term or condition of any related Contract.

  • Administration and Servicing of Receivables SECTION 4.1

  • No Extension or Amendment of Receivables Except as otherwise permitted in Section 7.2, neither the SPV nor the Servicer shall extend, amend or otherwise modify the terms of any Receivable, or amend, modify or waive any term or condition of any Contract related thereto.

  • Performance of Obligations; Servicing of Receivables (a) The Issuer will not take any action and will use its best efforts not to permit any action to be taken by others that would release any Person from any of such Person’s material covenants or obligations under any instrument or agreement included in the Trust Estate or that would result in the amendment, hypothecation, subordination, termination or discharge of, or impair the validity or effectiveness of, any such instrument or agreement, except in each case as expressly provided in the Basic Documents.

  • Maturity of Receivables Each Receivable shall have an original maturity of not less than 24 months nor greater than 72 months and, as of the Cutoff Date, a remaining maturity of not less than 6 months nor greater than 69 months.

  • Nature of Receivables Each of the Receivables shall be a bona fide and valid account representing a bona fide indebtedness incurred by the Customer therein named, for a fixed sum as set forth in the invoice relating thereto (provided immaterial or unintentional invoice errors shall not be deemed to be a breach hereof) with respect to an absolute sale or lease and delivery of goods upon stated terms of a Borrower, or work, labor or services theretofore rendered by a Borrower as of the date each Receivable is created. Same shall be due and owing in accordance with the applicable Borrower’s standard terms of sale without dispute, setoff or counterclaim except as may be stated on the accounts receivable schedules delivered by Borrowers to Agent.

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