Collection Procedures Sample Clauses

Collection Procedures. (a) On or before the Closing Date, the Seller and the Purchaser shall have established and shall maintain thereafter the system of collecting and processing Collections of Receivables in accordance with Section 2.02 of the Servicing Agreement.
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Collection Procedures. From and after the Closing, Purchaser shall have the right and authority, at its expense, to collect for its account all items to which it is entitled as provided in this Agreement and to endorse with the name of the Sellers any checks or drafts received on account of any such items.
Collection Procedures. The Employer agrees that collection procedures will be performed in accordance with applicable law and regulation.
Collection Procedures. It has not acted in contravention of any Policies with respect to the Receivables.
Collection Procedures. The Master Servicer shall, to the extent such procedures shall be consistent with this Agreement, follow such collection procedures as it follows from time to time with respect to mortgage loans in its servicing portfolio that are comparable to the Mortgage Loans. A summary of the Master Servicer's collection procedures is attached hereto as Exhibit D. A written copy of any such amendment or modification shall be furnished to the Trustee. Consistent with the foregoing, the Master Servicer may in its discretion (1) waive any assumption fees, late payment charges, charges for checks returned for insufficient funds, prepayment fees, if any, or other fees that may be collected in the ordinary course of servicing the Mortgage Loans, (2) if a Mortgagor is in default or appears about to be in default because of a Mortgagor's financial condition, arrange with the Mortgagor a schedule for the payment of delinquent payments due on the related Mortgage Loan or (3) modify payments of monthly principal and interest on any Mortgage Loan becoming subject to the terms of the Soldiers' and Sailors' Civil Relief Act of 1940, as amended (the "Relief Act"), in accordance with the Master Servicer's general policies for comparable mortgage loans subject to the Relief Act; provided, however, that the Master Servicer shall not, [without the prior written consent of the Bond Insurer,] permit any waiver, modification or variance of a Mortgage Loan that would (1) change the Note Rate, (2) forgive the payment of any principal or interest, (3) impair the priority of the lien represented by the related Mortgage or (4) extend the final maturity date of the Mortgage Loan beyond _______ 20___, in any case except to the extent required under the Relief Act. The Master Servicer will not consent to the placement of a deed of trust or mortgage, as applicable, on any Mortgaged Property that has a priority equal to or higher than the lien securing the related Mortgage Loan unless such Mortgage Loan is prepaid in full. No partial release of a Mortgage Loan shall be made if it would cause the Loan-to-Value Ratio of the Mortgage Loan (taking into account the partial release) to be higher than the Loan-to-Value Ratio of the Mortgage Loan at origination.
Collection Procedures. The Company and the Seller have in place procedures pursuant to the Transaction Documents which are either necessary or advisable to ensure the timely collection of Receivables.
Collection Procedures. Each Originator agrees to direct its respective Obligors to make payments of Purchased Receivables directly to a post office box related to the relevant Lockbox Account at a Permitted Lockbox Bank. Each Originator further agrees to transfer any Collections that it receives directly to the Servicer (for the Company's account) within one (1) Business Day of receipt thereof, and agrees that all such Collections shall be deemed to be received in trust for the Company and shall be maintained and segregated separate and apart from all other funds and monies of Originator until transfer of such Collections to the Servicer.
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Collection Procedures. The collection practices utilized by any person servicing the Receivable in seeking payment under the documentation evidencing such Receivable have been in accordance with the Collection Policy and in all respects legal, proper, prudent and customary in the automobile loan servicing business.
Collection Procedures. (a) The Seller shall cause any payments received by the Seller to be (i) processed as soon as possible after such payments are received by the Seller but in no event later than the Business Day after such receipt, and (ii) delivered to the Servicer or deposited in the Collection Account no later than the second Business Day following the date of such receipt.
Collection Procedures. Each Seller agrees to direct all Obligors to make payments of such Seller's Receivables directly to a Collection Account that is the subject of a Lock Box Agreement at a Collection Bank. Each Seller further agrees to transfer any Collections (including any security deposits applied to the Unpaid Net Balance of any Receivable) that it receives on such Receivables directly to the Servicer (if other than such Seller) within one (1) Business Day after receipt thereof, and agrees that all such Collections shall be deemed to be received in trust for the Buyer; provided that, to the extent permitted pursuant to Section 1.3, each Seller may retain such Collections as a portion of the Purchase Price then payable to it or apply such Collections to the reduction of the outstanding balance of its Subordinated Note.
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