The Servicer shall be responsible for collection of payments called for under the terms and provisions of the Contracts, as and when the same shall become due. The Servicer, in making collection of Receivable payments pursuant to this Agreement, shall be acting as agent for the Secured Parties, and shall be deemed to be holding such funds in trust on behalf of and as agent for Borrower and the Secured Parties. The Servicer, consistent with the Collection Policy, shall service, manage, administer and make collections on the Receivables on behalf of the Borrower and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection therewith which are not inconsistent with this Agreement. The Servicer may in its discretion # grant extensions, rebates or adjustments on a Contract in accordance with the Collection Policy and amend or modify any Contract or Receivable in accordance with the Credit Policy and the Collection Policy and # waive any late payment charge or any other fees (not including interest on the Principal Balance of a Receivable) that
Collection Practices; Escrow Deposits; Interest Rate Adjustments. The origination, servicing and collection practices used by [[Organization C:Organization]] with respect to the Mortgage Loan have been in all respects in compliance with Accepted Servicing Practices, applicable laws and regulations, and have been in all respects legal and proper and prudent in the mortgage origination and servicing business. With respect to escrow deposits and Escrow Payments for each Mortgage Loan that is not a HECM Loan, all such payments are in the possession of, or under the control of, [[Organization C:Organization]] and there exist no deficiencies in connection therewith for which customary arrangements for repayment thereof have not been made. With respect to each Mortgage Loan that is not a HECM Loan, all Escrow Payments have been collected in full compliance with state and federal law and the provisions of the related Mortgage Note and Mortgage. With respect to each Mortgage Loan that is not a HECM Loan an escrow of funds is not prohibited by applicable law and has been established in an amount sufficient to pay for every item that remains unpaid and has been assessed but is not yet due and payable. With respect to each Mortgage Loan that is not a HECM Loan, no escrow deposits or Escrow Payments or other charges or payments due [[Organization C:Organization]] have been capitalized under the Mortgage or the Mortgage Note. All mortgage interest rate adjustments have been made in strict compliance with state and federal law and the terms of the related Mortgage and Mortgage Note on the related interest rate adjustment date. If, pursuant to the terms of the Mortgage Note, another index was selected for determining the mortgage interest rate, the same index was used with respect to each Mortgage Note which required a new index to be selected, and such selection did not conflict with the terms of the related Mortgage Note. [[Organization C:Organization]] executed and delivered any and all notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the mortgage interest rate and the Monthly Payment adjustments. Any interest required to be paid pursuant to state, federal and local law has been properly paid and credited.
# has conducted a thorough inspection of the generator by performing the following:
Payroll Practices. All payments, benefits or other compensation under this paragraph 4 shall be paid in accordance with normal payroll practices as in effect on the Termination Date, except as provided in subparagraph # hereof, and subject to required payroll withholdings over the course of the period provided for within the applicable subsection above.
Payable Practices. Except as required by Applicable Laws or GAAP, no Borrower or its Domestic Subsidiaries has made any material change in its historical accounts payable practices from those in effect on the Closing Date.
Sustainability Practices. Subject to Tenants rights under this Lease, the Building may be operated pursuant to Landlords sustainable building practices, as same may be in effect or modified from time to time, but provided the same are commercially reasonable and consistent with general office use and do not unreasonably interfere with Tenants use or enjoyment of the Premises for the uses permitted hereby. Landlords sustainability practices may address, without limitation, whole-building operations and maintenance issues including chemical use; indoor air quality; energy efficiency; water efficiency; recycling programs; exterior maintenance programs; and systems upgrades to meet green building energy, water, and lighting performance standards. A copy thereof shall be provided to Tenant from time to time following Tenants written request therefor.
Exhibit # Credit and Collection Policies and Practices
Collection Costs. hereby agrees to pay for all collection costs incurs to collect from any amount past due.
Collection Policy. Subject to [Sections 6.01(h) and 6.04(j)])], the Borrower will not materially amend, modify, restate or replace, in whole or in part, the Collection Policy, which change would impair the collectability of the Receivables or otherwise adversely affect the interests or the remedies of the Secured Parties under the Basic Documents, without the prior written consent of the Administrative Agent (acting at the direction of the Required Lenders) (and the Required Lenders shall use commercially reasonable efforts to respond to such consent request within five (5) Business Days of their receipt thereof).
Collection Expenses. If this obligation is placed in the hands of an attorney for collection after default, and provided the Payee prevails on the merits in respect to its claim of default, the Maker shall pay (and shall indemnify and hold harmless the Payee from and against), all reasonable attorneys’ fees and expenses incurred by the Payee in pursuing collection of this Note.
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.