Common use of Servicing Standards Clause in Contracts

Servicing Standards. Each Loan Party covenants and agrees that it will allocate Receivables across collection channels in a manner materially consistent with the Collection and Underwriting Policy and the Receivables Management Association International Certification program, and otherwise in good faith and in a manner that is reasonable, prudent, and, in the aggregate, in or not opposed to the best interests of the Loan Parties, taken as a whole. Notwithstanding the foregoing, (i) a Loan Party may, in its reasonable discretion, hold, settle, close, return, or mark out of inventory any Receivable, or release, vacate, or satisfy any judgment, when reasonably necessary given such Receivable’s collectability, applicable facts or law, opposing claims or counterclaims, or demands from Receivable issuers or other upstream sellers and (ii) this Section 5.15 shall not limit or prohibit any transfer or sale of Receivables that is otherwise permitted by this Agreement.