Customer Collection Policy definition

Customer Collection Policy means the initial Solar Asset Manager’s internal collection policy as described in each Solar Asset Servicing Agreement; provided that from and after the appointment of a Successor Solar Asset Manager pursuant to such Solar Asset Servicing Agreement, the “Customer Collection Policy” shall mean the collection policy of such Successor Solar Asset Manager for servicing assets comparable to the solar assets of the Owner (as defined in such Solar Asset Servicing Agreement).

Customer Collection Policy means the initial Manager’s internal collection policy as described in each Management Agreement; provided that from and after the appointment of a Successor Manager pursuant to such Management Agreement, the “Customer Collection Policy” shall mean the collection policy of such Successor Manager for servicing assets comparable to the Borrower Solar Assets (as defined in such Management Agreement).

Customer Collection Policy means the customer collection policy furnished by the Sponsor to the Administrative Agent on or prior to the Closing Date as amended from time to time subject to Section 5.2(O).

Examples of Customer Collection Policy in a sentence

• The terms of the related Solar Service Agreement have not been amended, waived, extended, or modified in any manner inconsistent with the Customer Collection Policy after the date such Solar Service Agreement is entered into.

• Except as required by Applicable Law, revise or modify or permit the Sponsor or any affiliate thereof to revise or modify its Customer Collection Policy, Credit Underwriting Policy or Service Transfer Policy in such a manner as would be reasonably expected to have a material adverse effect on the Lenders without the prior written consent of the Super-Majority Lenders.

• To the extent the Customer Collection Policy, Credit Underwriting Policy or Service Transfer Policy is required to be revised or modified by any Applicable Law, the Borrower shall provide the Administrative Agent and the Lenders with the correspondence, if any, from the applicable Governmental Authority requiring such revisions or modifications promptly upon receipt thereof and copies of such revised policies within five (5) Business Days of when such policies are revised or modified.

• The Administrative Agent shall have received true and complete copies of the Sponsor’s Customer Collection Policy and Service Transfer Policy in effect on the Closing Date.

• The Administrative Agent shall have received true and complete copies of the Sponsor and its affiliates’ Customer Collection Policy, Transfer Policy in effect on the Closing Date.

• Revise or modify or permit the Sponsor or any affiliate thereof to revise or modify its Customer Collection Policy, Credit Underwriting Policy, Transfer Policy or Approved Installer Policy which would be reasonably expected to have a material adverse effect on the Lenders without the prior written consent of the Required Lenders.

More Definitions of Customer Collection Policy

Customer Collection Policy means the customer collection policy furnished by the Sponsor to the Administrative Agent on or prior to the Closing Date as amended from time to time subject to Section 5.2(O). “Customer Deposits” means all amounts paid by a Host Customer on or about execution of the related Customer Agreement. “Customer Prepayments” means all amounts prepaid by Host Customers pursuant to the related Customer Agreement or on or about commencement of construction of the applicable PV System or the achievement of PTO with respect thereto, exclusive of Customer Deposits. “Customer Lease Agreement” means an agreement between the owner of the PV System and a Host Customer whereby the Host Customer leases a PV System from such owner for fixed or escalating monthly payments. “Data Tape File” means a data tape file containing the information with respect to the Borrowing Base Pool as contained in the data tape file provided by the Loan Parties to the Administrative Agent during due diligence and on the Closing Date. Each data tape file shall identify PV Systems that are Defaulted Solar Assets. “Debtor Relief Laws” means the Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to time in effect. “Default Right” has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable. “Defaulted Solar Asset” means, with respect to a Solar Asset, if the related Host Customer is more than [***] past due on any portion of a contractual payment due under the related Customer Agreement. “Defaulting Lender” means, subject to Section 2.19(C), any Lender that (a) has failed to (i) fund all or any portion of its Advances within two (2) Business Days of the date such Advances were required to be funded hereunder unless such Lender notifies the Administrative Agent and the Borrower in writing that such failure is the result of such Xxxxxx’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied or (ii) pay to the Administrative Agent or any other Lender any other amount required to be paid by it hereunder within two (2) Business Days o...

Customer Collection Policy means the Delinquent Customers Collections Policy contained in the file numbered “1.11.9 entitled “Delinquent Customers Collections Policy – v1.0 – 6.15.2018” in the data room entitled “Vivint Solar Funds” established by the Sponsor and uploaded on July 22, 2019, as such policy may be updated from time to time subject to Section 5.2(P) hereof.

Customer Collection Policy means the Delinquent Customers Collections Policy contained in the file numbered “1.11.9 entitled “Delinquent Customers Collections Policy – v1.0 – 6.15.2018” in the data room entitled “Vivint Solar Funds” established by the Sponsor and uploaded on July 22, 2019, as such policy may be updated from time to time subject to Section 5.2(P) hereof.