Common use of Performance of Obligations; Servicing of Receivables Clause in Contracts

Performance of Obligations; Servicing of Receivables. The Borrower 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 Collateral 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 as ordered by any bankruptcy or other court or as expressly provided in this Agreement, the other Transaction Documents or such other instrument or agreement.

Appears in 2 contracts

Samples: Receivables Funding Agreement (Americredit Corp), Receivables Funding Agreement (Americredit Corp)

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