Modifications of Receivables, Contracts or Credit and Collection Policies. The Borrower shall not, without the prior written consent of the Administrative Agent and the Requisite Lenders, (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 so long as, after giving effect to any such action, no Receivables which constituted Eligible Receivables prior to such action would no longer constitute Eligible Receivables as a result of such action, or (ii) amend, modify or waive any term or provision of the Credit and Collection Policies.
Modifications of Receivables, Contracts or Credit and Collection Policies. The Borrower shall not, without the prior written consent of the Administrative Agent, (i) materially extend, amend, forgive, discharge, compromise, waive, cancel or otherwise materially modify the terms of any Transferred Receivable or materially amend, modify or waive any term or condition of any Contract related to the payment terms (including the manner of payment) in respect thereof, provided that the Borrower may authorize the Servicer to (x) reduce the Outstanding Balance of a Transferred Receivable as required to reflect any Dilution Factor or (y) take such actions as are expressly permitted by the terms of any Transaction Document or the Credit and Collection Policies (it being understood that, after giving effect to any such action described in this clause (c), any Receivable which constituted an Eligible Receivable prior to such action and no longer constitutes an Eligible Receivable as a result of such action shall no longer be included in the calculation of the Borrowing Base), or (ii) amend, modify or waive any term or provision of the Credit and Collection Policies in any material respect.
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 (it being understood that, to the extent that any such modification causes any Receivable to fail one or more of the criteria set forth in the definition of “Eligible Receivable” in Annex X hereto, such Receivable shall cease to be an Eligible Receivable for purposes of this Agreement).
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.
Modifications of Receivables, Contracts or Credit and Collection Policies. Without the prior written consent of the Administrative Agent (which consent shall not be unreasonably withheld or delayed), the Borrower shall not, and shall not permit the Servicer to (i) materially extend, amend, forgive, discharge, compromise, waive, cancel or otherwise materially modify the terms of any Receivable or materially amend, modify or waive any term or condition of any Contract related to the payment terms (including the manner of payment) in respect thereof (collectively, the “Applicable Actions”), provided that the Borrower may and may permit the Servicer to take such actions as are expressly permitted by the terms of any Transaction Document and consistent with the Credit and Collection Policies (it being understood that, after giving effect to any such action described in this subsection (c), any Receivable which constituted an Eligible Receivable prior to such action and no longer constitutes an Eligible Receivable as a result of such action shall not be an Eligible Receivable for purposes of calculating the Borrowing Base); provided, that no Applicable Action with respect to any Receivable (or Contract with respect thereto) shall be given effect for purposes of determining whether such Receivable constitutes a “Defaulted Receivable” or for purposes of whether such Receivable meets the criteria set forth in subsection (a) of the definition of “Delinquency Trigger Ratio” or (ii) amend, modify or waive (or permit to be amended, modified or waived) any term or provision of the Credit and Collection Policies that would reasonably be expected to adversely affect the collectibility of any Receivable or the enforceability of any related Contract without the prior consent of the Administrative Agent (which consent shall not be unreasonably withheld or delayed).
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 except in accordance with the Credit and Collection Policies (it being understood that, to the extent that any such modification causes any Receivable to fail one or more of the criteria set forth in the definition of “Eligible Receivable” in Annex X, such Receivable shall cease to be an Eligible Receivable for purposes of this Agreement).
Modifications of Receivables, Contracts or Credit and Collection Policies. The Seller shall not, without the prior written consent of the Administrative Agent and with respect to clause (ii) only, upon provision of written notice to the Rating Agencies, (i) extend, amend, rescind, 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, as long as no Incipient Termination Event or Termination Event has occurred and is continuing, the Seller 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.
Modifications of Receivables, Contracts or Credit and Collection Policies. The Seller shall not, without the prior written consent of the Administrative Agent and with respect to clause (iii) only, upon provision of written notice to the Rating Agencies, (i) extend, amend, rescind, forgive, discharge, compromise, waive, cancel or otherwise modify the terms of any Transferred Receivable, provided, that the Seller may authorize each Servicer to take such actions as are expressly permitted by the terms of the Credit and Collection Policies as such Servicer deems appropriate to maximize Collections thereof so long as such extension or adjustment does not alter any Receivable's classification as a Defaulted Receivable or result in such Receivable being required to be paid more than 364 days from the Billing Date thereof, (ii) amend, modify or waive any term or condition of any Contract related thereto to the extent such amendment, modification, or waiver materially impairs the collectibility of the Receivables, or (iii) amend, modify or waive any term or provision of the Credit and Collection Policies.
Modifications of Receivables, Contracts or Credit and Collection Policies. The Borrower shall not, without the prior written consent of the Administrative Agent, (i) (x) extend, amend, forgive, discharge, compromise, waive, cancel or otherwise modify the material terms of any Transferred Receivable unless the same is expressly permitted by the Credit and Collection Policy, or (y) amend, modify or waive any term or condition of any Contract related thereto if any such action is expressly prohibited by the Credit and Collection Policy; provided that no such amendment, waiver or modification shall be permitted if after giving effect to any such amendment, modification or waiver, Receivables arising under such Contract which were Eligible Receivables prior to such amendment, modification or waiver, would no longer constitute Eligible Receivables as a result of such amendment, modification or waiver, provided, further, 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 to amend or rescind any Transferred Receivable (or part thereof) which does not constitute an Eligible Receivable, or (ii) amend, modify or waive any material term or provision of the Credit and Collection Policies.
Modifications of Receivables, Contracts or Credit and Collection Policies. The Seller shall not, without the prior written consent of the Agent and with respect to clause (ii) only (i) extend, amend, rescind, 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 Seller 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 to the extent such action would be a material change to its Credit and Collection Policies or would negatively affect the timing or amount collected of Receivables in any material respect. WNC Receivables, LLC Receivables Purchase and Servicing Agreement
