No Extensions; Modifications Sample Clauses
The "No Extensions; Modifications" clause establishes that the terms of the agreement cannot be extended or altered unless both parties formally agree to do so, typically in writing. In practice, this means that any changes to deadlines, deliverables, or other contractual obligations must be mutually approved and documented, preventing informal or unilateral adjustments. This clause ensures contractual certainty and protects both parties from unexpected changes, thereby reducing the risk of disputes over the scope or duration of the agreement.
No Extensions; Modifications. No Contract has been extended, rewritten or is subject to any forbearance, or any other such modified payment plan other than in accordance with the Originator’s Credit and Collection Policy (of which Indenture Trustee retains a copy and which is available from such Indenture Trustee upon request) as in effect on the Closing Date or the Funding Date, as applicable. Notwithstanding anything in this Section to the contrary, the Seller makes no representation or warranty whether any Contract is or could become subject to the Servicemembers Civil Relief Act.