Credit and Collection Policies definition

Credit and Collection Policies or “Credit and Collection Policy” means the policies, practices and procedures adopted by the Issuer on the Closing Date, including the policies and procedures for determining the creditworthiness of Obligors and the extension of credit to Obligors, or relating to the maintenance of those types of receivables and the related equipment and collections on those types of receivables and the related equipment.

Credit and Collection Policies means the Seller’s and the Servicer’s credit and collection policy or policies relating to Contracts and Receivables and referred to in Exhibit C to the Servicing Agreement, as the same is amended, supplemented or otherwise modified and in effect from time to time in accordance with Section 2.12(c) of the Servicing Agreement; provided, however, if the Servicer is any Person other than the initial Servicer, “Credit and Collection Policies” shall refer to the collection policies of such Servicer as they relate to receivables of a similar nature to the Receivables.

Credit and Collection Policies means the written credit, collection, customer relations and service policies of the Originators in effect on the Closing Date and attached as Exhibit A to the Funding Agreement, as the same may from time to time be amended, restated, supplemented or otherwise modified with the prior written consent of the Administrative Agent.

Examples of Credit and Collection Policies in a sentence

• The Mortgage Loan Seller may offer to repurchase a Mortgage Loan (and the Issuer may agree to accept such offer) where: (a) the relevant Mortgage Loan has been accelerated in accordance with the Enforcement Procedures and the Portfolio Credit and Collection Policies; and (b) the Collateral securing the relevant Mortgage Loan has been the subject of a Failed Enforcement Auction.

• Each Servicer shall (subject to certain limitations) have the authority to do or cause to be done acts which it reasonably considers necessary or convenient in connection with the servicing of the Purchased Loan Receivables in accordance with the Credit and Collection Policies and the supplements and limitations thereto set out in the Servicing Agreements.

• In addition, as a consequence of mergers in which a Servicer participates, such Servicer may apply different Credit and Collection Policies to different assets.

• The relevant Servicer will manage and collect payments on the Purchased Loan Receivables in compliance with the Servicing Agreements, the Credit and Collection Policies and the relevant loan agreement underlying a Purchased Loan Receivable (each, an "Underlying Loan Agreement") and may negotiate and agree on certain amendments, modifications of, or waiver in relation to, the Underlying Loan Agreements in accordance with the Credit and Collection Policies.

• It has complied with the Credit and Collection Policies in all material respects and such policies have not changed in any material respect since the Second Restatement Effective Date except as permitted under Sections 7.3(c) and 7.5(g) of the Receivables Purchase Agreement.

More Definitions of Credit and Collection Policies

Credit and Collection Policies means the customary policies and practices of the Servicer that have been delivered to the Trust relating to the creditworthiness of Obligors, the making of collections and the enforcement of Receivables and the Related Security as such policies and practices may be amended from time to time in accordance with the Purchase Agreement;

Credit and Collection Policies means, with respect to an Asset, the credit and collection policies, including loan modification policies, of the related Obligor applicable to origination and servicing of assets of that type, as the same may be amended from time to time in accordance with its usual and customary practices.

Credit and Collection Policies means the PennantPark Floating Rate Ltd Policies and Procedures dated as of May 9, 2011, as amended subject to the terms hereof.

Credit and Collection Policies means, with respect to each credit card program from which Accounts are drawn, Originator’s policies and procedures relating to the operation of such credit card program, including the policies and procedures for determining the creditworthiness of Obligors and the extension of credit to Obligors, and relating to the maintenance of credit card accounts and collection of credit card receivables, as such policies and procedures may be amended from time to time.

Credit and Collection Policies means, with respect to any Receivable, those credit and collection policies and practices of the Originator that originated such Receivable in effect on the Amendment and Restatement Effective Date and described in Schedule 3 (Credit and Collection Policies), as modified in compliance with this Agreement, the Originator Sale Agreements and the Servicing Agreement.

Credit and Collection Policies means, with respect to an Account of a Seller, such Seller’s policies and procedures relating to the Receivables, including the policies and procedures for determining the creditworthiness of Dealers and the extension of credit to Dealers, and relating to the maintenance of Accounts and collection of Receivables, as such policies and procedures may be amended from time to time.

Credit and Collection Policies means with respect to any Pool Receivable, Master Servicer’s credit and collection policies and practices, as applicable, relating to Contracts and Receivables, each as described in Schedule 6.2(n), as amended, restated, supplemented, waived or otherwise modified without violating Section 7.6(b).