Change in Credit and Collection Policy and Debt Ratings Clause Samples

The 'Change in Credit and Collection Policy and Debt Ratings' clause governs how modifications to a company's credit and collection policies, as well as changes in its debt ratings, are handled within an agreement. Typically, this clause requires the company to notify the other party of any significant changes to its credit or collection practices, or if its credit rating is downgraded by a major rating agency. For example, if a company decides to tighten its credit terms or experiences a drop in its credit rating, it must inform its contractual counterpart. The core function of this clause is to ensure transparency and allow the other party to assess and manage the risk associated with changes in the company's financial practices or creditworthiness.
Change in Credit and Collection Policy and Debt Ratings. Within ten (10) Business Days after the date any material change in or amendment to the Credit and Collection Policy is made, a copy of such change in or amendment to the Credit and Collection Policy then in effect indicating such change or amendment. Within five (5) days after the date of any change in Arrow’s public or private debt ratings, if any, a written certification of Arrow’s public and private debt ratings after giving effect to any such change.
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Change in Credit and Collection Policy and Debt Ratings. Within ten (10) days after the date any material change in or amendment to the Credit and Collection Policy is made, a copy of the Credit and Collection Policy then in effect indicating such change or amendment. Within five (5) days after the date of any change in AmeriCredit's or AmeriCredit Corp.'s public or private debt ratings, if any, a written certification of AmeriCredit's or AmeriCredit Corp.'s public and private debt ratings after giving effect to any such change.
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Change in Credit and Collection Policy and Debt Ratings. Within ten (10) days after the date any material change in or amendment to the Credit and Collection Policy is made, a copy of the Credit and Collection Policy then in effect indicating such change or amendment. Within five (5) days after the date of any change in the Transferor's or the Parent's public or private debt ratings, if any, a written certification of the Transferor's or the Parent's public and private debt ratings after giving effect to any such change.
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Related to Change in Credit and Collection Policy and Debt Ratings

  • Change in Credit and Collection Policy At least thirty (30) days prior to the effectiveness of any material change in or material amendment to the Credit and Collection Policy, a copy of the Credit and Collection Policy then in effect and a notice (A) indicating such change or amendment, and (B) if such proposed change or amendment would be reasonably likely to adversely affect the collectibility of the Receivables or decrease the credit quality of any newly created Receivables, requesting the Agent's consent thereto.

  • Credit and Collection Policy The Servicer has complied in all material respects with the Credit and Collection Policy with regard to each Pool Receivable and the related Contracts.

  • Credit and Collection Policies Comply in all material respects with the Credit and Collection Policy in regard to each Pool Receivable and the related Contract.

  • Change in Business or Credit and Collection Policy The Seller shall not make (or permit any Originator to make) any change in the character of its business or in any Credit and Collection Policy, or any change in any Credit and Collection Policy that would have a Material Adverse Effect with respect to the Receivables. The Seller shall not make (or permit any Originator to make) any other change in any Credit and Collection Policy without giving prior written notice thereof to the Administrator and each Purchaser Agent.

  • Compliance with Credit and Collection Policy Such Seller Party has complied in all material respects with the Credit and Collection Policy with regard to each Receivable and the related Contract, and has not made any material change to such Credit and Collection Policy, except such material change as to which Agent and each Purchaser Agent have been notified in accordance with Section 7.1(a)(vii) and receipt Agent’s and each Purchaser Agent’s consent to the extent referenced therein.