Common use of Direct Debit Mandates - Operation of Direct Debit Scheme Clause in Contracts

Direct Debit Mandates - Operation of Direct Debit Scheme. 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.

Appears in 15 contracts

Samples: Servicing Agreement, Servicing Agreement, Servicing Agreement

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