Common use of Collection Policies and Procedures Clause in Contracts

Collection Policies and Procedures. The Servicer shall not amend, modify or otherwise change its Collection Policies and Procedures in any manner without providing prior written notice to the Indenture Trustee and the Noteholders, and without the prior written consent of the Indenture Trustee and the Majority Holders if such amendment, modification or change could materially and adversely affect the collectability or the credit quality of the Contracts. The Servicer shall notify the Indenture Trustee and the Rating Agencies of any such proposed change and the Indenture Trustee shall notify the Noteholders and seek the consent of the Majority Holders.