Examples of Credit and Collection Policy in a sentence
As of the 2024-B Cutoff Date, the 2024-B Lease is not subject to a current deferral and has not been extended, but may have otherwise been deferred in accordance with the Credit and Collection Policy or otherwise modified in accordance with the Credit and Collection Policy so long as such modification did not cause such 2024-B Lease to not qualify with the other criteria set forth herein.
Except as provided in Section 6.2(d), the Borrower will not, and will not permit Seller or any Originator to, extend, amend or otherwise modify the terms of any Receivable or any terms of any Contract related to such Receivable in any material respect other than in accordance with the applicable Credit and Collection Policy.
The Borrower will (and will cause Seller to) timely and fully (i) perform and comply in all material respects with all provisions, covenants and other promises required to be observed by it under the Contracts related to the Receivables, and (ii) comply in all material respects with the applicable Credit and Collection Policy in regard to each Receivable and the related Contract.
The Servicer will not, and will not permit any Originator to, make any change to any Credit and Collection Policy that could reasonably be expected to decrease the credit quality of any newly created Receivables or materially adversely affect the collectability of the Receivables.
The 2024-B Lease is a Stand-Alone Lease that was originated (a) by a Dealer, (b) on or after January 2019, (c) pursuant to an agreement which allows for recourse to the Dealer in the event of certain defects in the 2024-B Lease (but not for a default by the related Lessee) and (d) in substantial compliance with the Credit and Collection Policy.