Common use of Modifications of Receivables, Contracts or Credit and Collection Policies Clause in Contracts

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) 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.. Second Amended and Restated Credit and Security Agreement