Common use of Compromise of Collateral Clause in Contracts

Compromise of Collateral. Borrower will not (or will not permit any Person to) adjust, settle, compromise, amend or modify any Collateral, except an adjustment, settlement, compromise, amendment or modification in good faith and in the ordinary course of business; provided, however, this exception shall terminate following written notice from Credit Union upon the occurrence and during the continuation of an Event of Default. Borrower shall provide to Credit Union such information concerning (i) any adjustment, settlement, compromise, amendment or modification of any Collateral, and (ii) any claim asserted by any account debtor for credit, allowance, adjustment, dispute, setoff or counterclaim, as Credit Union may reasonably request from time to time.    

Compromise of Collateral. Borrower Debtor will not (or and will not permit any Person to) Servicing Agent to adjust, settle, compromise, amend or modify any Collateral, except an adjustment, settlement, compromise, amendment or modification in good faith and in the ordinary course of businessbusiness and in accordance with the Servicing Agreement; provided, however, this exception shall terminate following written notice from Credit Union Lender upon the occurrence and during the continuation of an Event of a Default. Borrower Debtor shall provide to Credit Union Lender such information concerning (i) any adjustment, settlement, compromise, amendment or modification of any CollateralCollateral Loan, and (ii) any claim asserted by any account debtor Collateral Loan Obligor for credit, allowance, adjustment, dispute, setoff or counterclaim, as Credit Union Lender may reasonably request from time to time.    .

Compromise of Collateral. Borrower will not (or will not permit any Person to) adjust, settle, compromise, amend or modify any Collateral, except an adjustment, settlement, compromise, amendment or modification in good faith and in the ordinary course of business; provided, however, this exception shall terminate following written notice from Credit Union upon the occurrence and during the continuation of an Event of Default. Borrower shall provide to Credit Union such information concerning (i) any adjustment, settlement, compromise, amendment or modification of any Collateral, and (ii) any claim asserted by any account debtor for credit, allowance, adjustment, dispute, setoff or counterclaim, as Credit Union may reasonably request from time to time.    .

Compromise of Collateral. Borrower Debtor will not (or and will not permit any Person to) Seller to adjust, settle, compromise, amend or modify any Collateral, except an adjustment, settlement, compromise, amendment or modification in good faith and in the ordinary course of businessbusiness and in accordance with the Servicing Standards; provided, however, this exception shall terminate following written notice from Credit Union Lender upon the occurrence and during the continuation of an Event of Default. Borrower Debtor shall provide to Credit Union Lender such information concerning concerning: (i) any adjustment, settlement, compromise, amendment or modification of any Collateral, ; and (ii) any claim asserted by any account debtor for credit, allowance, adjustment, dispute, setoff or counterclaim, as Credit Union Lender may reasonably request from time to time.    .