Customary Operating Practices definition

Customary Operating Practices means the normal operating policies and practices in respect of the origination, management, administration and collection of receivables adopted by (as the case may be) VWFS or the Servicer from time to time with respect to HP Agreements, LP Agreements and PCP Agreements entered into by VWFS.
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Customary Operating Practices means the normal operating policies and practices in respect of the origination, management, administration and Collection of receivables adopted by (as the case may be) VWFS or the Servicer from time to time with respect to HP Agreements and PCP Agreements entered into by VWFS.
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Examples of Customary Operating Practices in a sentence

  • The Servicer shall operate its Direct Debiting Scheme in accordance with its Customary Operating Practices.

  • If an Obligor will not permit a Direct Debit to be made to his bank account under the Direct Debiting Scheme in relation to a Financing Contract or if an existing Direct Debit is cancelled, the Servicer shall use all reasonable endeavours in accordance with its Customary Operating Practices to ensure that alternative payment arrangements are promptly made which ensure the timely payment of amounts payable by the Obligor under such Financing Contract.

  • The Servicer shall ensure that all duplicate computer tapes or discs shall be held by the person holding the same to the order of the Issuer and the Security Trustee in a manner in accordance with the Servicer's Customary Operating Practices.

  • As Servicer for the abovementioned Securitisation Transaction, VWFS has amended its Customary Operating Practices to permit VWFS Payment Deferrals (including, for the avoidance of doubt, Further VWFS Payment Deferrals) together with the COVID-19 Extensions (as defined in the announcement of 30 March 2020) and Additional Forbearance notified on 30 March 2020, and on 2 May 2020.

  • As notified in the announcement on 30 March 2020 and as implemented in the Transaction Documents VWFS has taken the decision to treat each Financing Contract subject to a COVID-19 Extension as being subject to an Early Settlement given that the Financing Contract may be extended for up to 6 months and such extension would constitute a material change to VWFS's Customary Operating Practices.

  • As notified in the announcement on 30 March 2020 and as implemented in the Transaction Documents VWFS has taken the decision to treat each Financing Contract subject to a COVID-19 Extension as being subject to a COVID-19 Settlement Amount given that the Financing Contract may be extended for up to 6 months and such extension would constitute a material change to VWFS's Customary Operating Practices.

  • Santander Consumer Bank GmbH, in its capacity as Servicer (and, following a Servicer Termination Event, the Back-up Servicer) (and any successor thereto), will carry out the administration, collection and enforcement of the Portfolio in accordance with the Servicing Agreement including the Customary Operating Practices (see "OUTLINE OF THE PRINCIPAL TRANSACTION DOCUMENTS — Servicing Agreement").

  • The Servicer may, acting in accordance with its Customary Operating Practices, agree to a COVID-19 Extension in respect of a maturing Purchased Receivable under which the related Financing Contract is a PCP Agreement.

  • As Servicer for the abovementioned Securitisation Transaction, VWFS will amend its Customary Operating Practices to permit VWFS Payment Deferrals together with the COVID-19 Extensions and Additional Forbearance notified on 30 March 2020.

  • Following the Voluntary Termination of a Financing Contract, VWFS will take possession of the relevant vehicle and will sell such Vehicle in accordance with its Customary Operating Practices.

Related to Customary Operating Practices

  • Prudent Operating Practice means (a) the applicable practices, methods and acts required by or consistent with applicable Laws and reliability criteria, and otherwise engaged in or approved by a significant portion of the electric utility industry during the relevant time period with respect to grid-interconnected, utility-scale generating facilities with integrated storage in the Western United States, or (b) any of the practices, methods and acts which, in light of the facts known at the time the decision was made, could have been expected to accomplish the desired result at a reasonable cost consistent with good business practices, reliability, safety and expedition. Prudent Operating Practice is not intended to be limited to the optimum practice, method or act to the exclusion of all others, but rather to acceptable practices, methods or acts generally accepted in the industry with respect to grid-interconnected, utility-scale generating facilities with integrated storage in the Western United States. Prudent Operating Practice includes compliance with applicable Laws, applicable reliability criteria, and the criteria, rules and standards promulgated in the National Electric Safety Code and the National Electrical Code, as they may be amended or superseded from time to time, including the criteria, rules and standards of any successor organizations.

  • Practices means that the practice(s) seems like a logical approach to addressing a specific behavior which is becoming distinct, recognizable among Clients and clinicians in practice, or innovators in academia or policy makers; and at least one recognized expert, group of researchers or other credible individuals have endorsed the practice as worthy of attention based on outcomes; and finally, it produces specific outcomes.

  • Customary Servicing Practices means the customary servicing practices of the Servicer or any Sub-Servicer with respect to all comparable motor vehicle receivables that the Servicer or such Sub-Servicer, as applicable, services for itself and others, as such customary servicing practices may be changed from time to time, it being understood that the Servicer and the Sub-Servicers may not have the same “Customary Servicing Practices.”

  • Prudent Servicing Practices The standard of care set forth in each Servicing Agreement.

  • Standard Operating Procedures or “SOP” means the procedures as specified in the Annexes or Attachments to the relevant Schedules;

  • standards of generally recognised accounting practice means an accounting practice complying with standards applicable to municipalities or municipal entities as determined by the Accounting Standards Board

  • Good Industry Practices means the practices that would be adopted by, and the exercise of that degree of care, skill, diligence, prudence and foresight that reasonably would be expected from, a competent contractor in the international oil and gas industry experienced in performing work similar in nature, size, scope and complexity to the Work and under conditions comparable to those applicable to the Work, where such work is subject to, and such contractor is seeking to comply with, the standards and codes specified in the Contract or (to the extent that they are not so specified) such national or international standards and codes as are most applicable in the circumstances, and the applicable Law.

  • Reasonable and Prudent Operator means a person seeking in good faith to perform its contractual obligations and, in the process of doing so and in the overall conduct of its whole undertaking exercising that degree of diligence, skill, prudence and foresight which can reasonably and ordinarily be expected from a skilled and experienced operator engaged in the same type of undertaking under the same or similar circumstances complying with all applicable Laws, and any reference to the standard of a Reasonable and Prudent Operator means such degree of diligence, skill, prudence and foresight as aforesaid.

  • Proper practices means those set out in The Practitioners’ Guide

  • Current Good Manufacturing Practices or “cGMP” means applicable Good Manufacturing Practices as specified in the United States Code of Federal Regulations and/or the EU Good Manufacturing Guidelines, and any successor legislation from time to time, prevailing at the time of the manufacture of the Product.

  • Accepted Servicing Practices With respect to any Mortgage Loan, those mortgage servicing practices of prudent mortgage lending institutions which service mortgage loans of the same type as such Mortgage Loan in the jurisdiction where the related Mortgaged Property is located.

  • Good Manufacturing Practices means current good manufacturing practices, as set forth in 21 C.F.R. Parts 210 and 211.

  • Good Engineering Practice means, Works carried out in accordance with the following standards/ specifications,

  • UK generally accepted accounting principles and practices means the principles and practices prevailing from time to time in the United Kingdom which are generally regarded as permissible or legitimate by the accountancy profession irrespective of the degree of use.

  • Prudent Industry Practices means, at a particular time, any of the practices, methods, standards of care, skill, safety and diligence, as the same may change from time to time, but applied in light of the facts known at the time, that are consistent with the general standards applied or utilized under comparable circumstances by a reasonably prudent operator, in a good and workmanlike manner, with due diligence and dispatch, in accordance with good midstream industry practice.

  • Reasonable and prudent parent standard means the

  • Good Industry Practice means standards, practices, methods and procedures conforming to the Law and the degree of skill and care, diligence, prudence and foresight which would reasonably and ordinarily be expected from a skilled and experienced person or body engaged in a similar type of undertaking under the same or similar circumstances.

  • Discriminatory housing practice means an act that is unlawful under this chapter.

  • Servicer Policies and Practices means, with respect to the Servicer’s duties under Exhibit A to the Servicing Agreement, the policies and practices of the Servicer applicable to such duties that the Servicer follows with respect to comparable assets that it services for itself and, if applicable, others.

  • Group practice means a group of two or more health care providers legally organized as a partnership, professional corporation, or similar association:

  • Standards means the British or international standards, Authority's internal policies and procedures, Government codes of practice and guidance referred to in Framework Schedule 13 (Standards) together with any other specified policies or procedures identified in Framework Schedule 13 (Standards);

  • Standard operating procedure means a formal written procedure offi- cially adopted by the plant owner or operator and available on a routine basis to those persons responsible for carrying out the procedure.

  • Best Practices means a term that is often used inter-changeably with “evidence-based 24 practice” and is best defined as an “umbrella” term for three levels of practice, measured in relation to 25 recovery-consistent mental health practices where the recovery process is supported with scientific 26 intervention that best meets the needs of the Client at this time. 27 a. EBP means Evidence-Based Practices and refers to the interventions utilized for which 28 there is consistent scientific evidence showing they improved Client outcomes and meets the following 29 criteria: it has been replicated in more than one geographic or practice setting with consistent results; it

  • Accepted Master Servicing Practices With respect to any Mortgage Loan, those mortgage master servicing practices of prudent mortgage master servicing institutions which master service mortgage loans of the same type as such Mortgage Loan in the jurisdiction where the related Mortgaged Property is located.

  • Uniform Standards of Professional Appraisal Practice means the current standards of the appraisal profession, developed for appraisers and users of appraisal services by the Appraisal Standards Board of the Appraisal Foundation.

  • railway operational procedures means procedures specified under any access agreement (as defined in the Railways Act 1993) or station lease;