Common use of Collection of Payments Clause in Contracts

Collection of Payments. The Servicer may grant extensions, waivers, rebates, modifications or adjustments with respect to any Collateral Lease, except that if (a) after the Cutoff Date, the Servicer modifies the amount of the Base Payment due with respect to any Lease or (b) after the Cutoff Date, the Servicer grants a Payment Extension or Term Extension that extends any Lease past the Final Scheduled Payment Date for the most junior Class of Notes, the Servicer will reallocate such Lease and the related Leased Vehicle to the Revolving Facility Pool in accordance with Section 3.5, except, in either case, to the extent that any such modification is required by law or court order.

Collection of Payments. The Servicer may grant extensions, waivers, rebates, modifications or adjustments with respect on to any Collateral Lease, except that if (a) if, after the Cutoff Date, the Servicer (a) modifies the amount of the Base Payment due with respect to on any Lease or (b) after the Cutoff Date, the Servicer grants a Payment Extension or Term Extension that extends any Lease past the Final Scheduled Payment Date for the most junior Class of Notes, the Servicer will reallocate such the Lease and the related Leased Vehicle to the Revolving Facility Pool in accordance with Section 3.5, except, in either case, to the extent that any such modification is required by law or court order.