Common use of Collection Policies and Procedures Clause in Contracts

Collection Policies and Procedures. The Servicer shall not, without the prior written consent of the Control Party, amend, modify or otherwise change its Credit and Collection Policies in any manner unless such amendment, modification or change (i) applies generally to all contracts, loans or receivables serviced by the Servicer (and not just to Loans or Receivables in the Trust Estate) and (ii) would not materially and adversely affect the Trust Estate or the ability of the Servicer to collect the Loans or Receivables or the minimum required credit quality of the Loans or Receivables consistent with the underwriting criteria of ALS in the ordinary course of business. The Servicer shall provide at least five (5) Business Days’ prior written notice to the Control Party (with a copy to the initial Noteholders) of any proposed material change to the Credit and Collection Policy.

Collection Policies and Procedures. The So long as the Insurer is the Controlling Party, the Servicer shall not, not without the prior written consent of the Control Party, Insurer amend, modify or otherwise change its Credit and Collection Policies Policy in any manner unless such amendment, modification or change (i) applies generally to all contracts, contracts or loans or receivables serviced by the Servicer (and not just to Loans or Receivables in the Trust EstatePools) and (ii) would not be likely to materially and adversely affect the Trust Estate Loans or the ability of the Servicer to collect the Loans or Receivables or the minimum required credit quality of the Loans or Receivables consistent with the underwriting criteria of ALS in the ordinary course of business. The So long as the Insurer is the Controlling Party, the Servicer shall provide at least five (5) Business Days’ ' prior written notice to the Control Party (with a copy to the initial Noteholders) Insurer of any proposed material change to the Credit and Collection Policy.

Collection Policies and Procedures. The Servicer shall not, without the prior written consent of the Control Party, amend, modify or otherwise change its Credit and Collection Policies in any manner unless such amendment, modification or change (i) applies generally to all contracts, loans or receivables serviced by the Servicer (and not just to Loans or Receivables in the Trust Estate) and (ii) would not materially and adversely affect the Trust Estate or the ability of the Servicer to collect the Loans or Receivables or the minimum required credit quality of the Loans or Receivables consistent with the underwriting criteria of ALS in the ordinary course of business. The Servicer shall provide at least five (5) Business Days’ ' prior written notice to the Control Party (with a copy to the initial Noteholders) of any proposed material change to the Credit and Collection Policy.