Small Balance Waiver definition

Small Balance Waiver means a waiver of any unpaid amounts not to exceed $100 owed with respect to a Receivable in connection with its final payout, which is granted by the Servicer in accordance with the Servicing Standard.
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Examples of Small Balance Waiver in a sentence

  • No Financed Vehicle securing a Receivable shall be released in whole or in part from the security interest granted by the related Obligor, except upon payment in full of such Receivable (subject to any Small Balance Waiver), or as otherwise contemplated by this Agreement or by Applicable Law.

  • No Financed Vehicle securing a Receivable shall be released in whole or in part from the security interest granted by the Obligor, except upon payment in full of such Receivable (subject to any Small Balance Waiver) or as otherwise contemplated herein or in accordance with the Servicing Standard.

  • Notwithstanding the foregoing, the Servicer may grant a Small Balance Waiver with respect to any Loan.

  • No Financed Vehicle securing a Loan shall be released in whole or in part from the security interest granted by the Loan Obligor, except upon payment in full of such Loan (subject to any Small Balance Waiver) or as otherwise contemplated herein or in accordance with the Servicing Standard.

  • Notwithstanding the foregoing, the Servicer is authorized in its discretion to grant a Small Balance Waiver with respect to any Loan, and to waive any prepayment charge, late payment charge or any other similar fees that may be collected in the ordinary course of servicing any Conveyed Asset.

  • Notwithstanding the foregoing, the Servicer may in its discretion grant a Small Balance Waiver with respect to any Receivable, and may waive any prepayment fee, late payment fee or any other similar fees that may be collected in the ordinary course of servicing any Receivable.