DEFICIENCY COLLECTIONS Sample Clauses
DEFICIENCY COLLECTIONS. (a) Establish the exact amount of the deficiency, using the repossession worksheet. This includes all fees and per diem interest.
(b) Attempt verbal and/or written negotiations with the debtor to settle the deficiency.
(c) Send a certified letter to the debtor and cosigner(s) stating that we need $X by ___________, 19__ (7-10 days), or we will begin legal action. If no reasonable response is received move to (d).
(d) Complete a General Claim Form. Send the form to [applicable local court].
(e) We should receive notification of the court's decision within one week. If we receive notice of judgment, it is possible that the debtor will pay the court and the court will then pay the Servicer. As this usually does not happen, proceed to exercise on the judgment as follows:
(1) File both the Transcript of Judgment and the Affidavit of Identification of Judgment Debtor with [appropriate office].
(2) Order a Writ of Execution from [appropriate office].
DEFICIENCY COLLECTIONS. Under separate agreement, SST may provide deficiency collections services on a contingency fee basis.
DEFICIENCY COLLECTIONS. Under separate agreement, SST may provide deficiency collections services on a contingency fee basis.
(1) These items shall only apply to SST's performance of successor servicing duties and constitute the fees and reimbursable expenses due SST as successor servicer as described in the definition of Servicing Fee as modified by Schedule III, item 1 to the Backup Servicing Agreement.
DEFICIENCY COLLECTIONS. Under separate agreement, the Backup Servicer may provide deficiency balance collections services on a contingency fee basis. EXHIBIT H-1 ▇▇▇▇▇ FARGO BANK, N.A. SCHEDULE OF FEES CPS AUTO RECEIVABLES TRUST 2006-D
I. ACCOUNT ACCEPTANCE FEE: $5,000 This fee covers all initial services including the examination of the governing documents, acceptance of the transaction and establishment of the necessary records and accounts. Fee payable at closing.
DEFICIENCY COLLECTIONS. Under separate agreement, the Backup Servicer may provide deficiency balance collections services on a contingency fee basis. W▇▇▇▇ FARGO BANK, N.A.
I. Account Acceptance Fee: $6,000
II. Monthly Trustee Fee: $1,000
III. Monthly Backup Servicing Fee: $4,000
IV. Collateral Custody Fees: Deposit and Certification of Loan Files: $2.50 Annual Safekeeping Fee: $2.40 Final/Trailing Documents $1.25
DEFICIENCY COLLECTIONS. Under separate agreement, SST may provide deficiency collections services on a contingency fee basis.
(1) Standby services limited to: (i) receipt of an electronic end of month loan data transmission, including all relevant obligor contact information including address and phone numbers, loan balance, payment information, and comment histories; (ii) receipt of monthly servicer statements/reports; and (iii) opening the monthly loan data transmissions to ensure the same are readable. SST shall use its best efforts to identify any discrepancies or confirm the calculations based solely on the information provided on said statements/reports.
(2) Basis points are annualized (i.e., applicable basis points/12), and shall be based on the beginning of month aggregate principal balance of each individual Active Contract (as defined below).
(3) SST shall receive this fee for all Active Contracts for any full or partial month where it functions as the servicer. Active Contract is defined as any contract other than: (i) prepaid, fully satisfied contracts; (ii) contracts in which the asset has been liquidated and SST has posted the liquidation proceeds or any other anticipated proceeds (e.g., credit enhancement insurance); or (iii) contracts in which SST has completed all work in connection with processing and receiving insurance payoffs. There shall be a $0.50 monthly servicing fee for each contract that is not an Active Contract until such time as SST is duly instructed to write the obligor's balance down to $0.00.
(4) These items shall only apply to SST's performance of successor servicing duties.
DEFICIENCY COLLECTIONS. LXXI Contact is made with the customer in an attempt to establish acceptable payment arrangements or settlements on the account. LXXII If the customer is unwilling to do so, AmeriCredit may invoke any legal collection remedy that the state allows, i.e., judgements, garnishments, etc. EXHIBIT A FORM OF CLASS A CERTIFICATE SEE ATTACHED PAGES FOR CERTAIN DEFINITIONS THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE IN RELIANCE UPON EXEMPTIONS PROVIDED BY THE SECURITIES ACT AND SUCH STATE SECURITIES LAWS. NO RESALE OR OTHER TRANSFER OF THIS CERTIFICATE MAY BE MADE UNLESS SUCH RESALE OR TRANSFER (A) IS MADE IN ACCORDANCE WITH SECTION 7.3 OF THE POOLING AND SERVICING AGREEMENT AND (B) IS MADE (i) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, (ii) IN A TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS, (iii) TO THE SELLER OR (iv) TO A PERSON WHO THE TRANSFEROR REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT THAT IS AWARE THAT THE RESALE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A AND (C) UPON THE SATISFACTION OF CERTAIN OTHER REQUIREMENTS SPECIFIED IN THE AGREEMENT. NEITHER THE SELLER, THE SERVICER NOR THE TRUSTEE IS OBLIGATED TO REGISTER THE CERTIFICATES UNDER THE SECURITIES ACT OR ANY APPLICABLE STATE SECURITIES LAWS. NO RESALE OR OTHER TRANSFER OF THIS CERTIFICATE MAY BE MADE UNLESS THE CERTIFICATE REGISTRAR SHALL HAVE RECEIVED A REPRESENTATION LETTER IN SUBSTANTIALLY THE FORM REQUIRED BY THE AGREEMENT REFERRED TO BELOW FROM THE TRANSFEREE OF THIS CERTIFICATE OR SUCH OTHER REPRESENTATIONS (OR AN OPINION OF COUNSEL) AS MAY BE APPROVED BY THE SELLER OR CS FIRST BOSTON CORPORATION, TO THE EFFECT THAT SUCH A TRANSFER MAY BE MADE PURSUANT TO AN EXEMPTION FROM THE SECURITIES ACT, INCLUDING RULE 144A THEREUNDER, AND APPLICABLE STATE SECURITIES LAWS AND (A) SUCH TRANSFEREE WILL NOT ACQUIRE THIS CERTIFICATE WITH THE ASSETS OF ANY "EMPLOYEE BENEFIT PLAN" AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA") OR SECTION 4975(e)(1) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"), (B) SPECIFIED CONDITIONS OF AN "UNDERWRITER EXEMPTION" DESCRIBED IN SECTION V(H) OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60 ARE SATISFIED WITH RESPECT TO SUCH TRANSFEREE...
DEFICIENCY COLLECTIONS. Under separate agreement, the Substitute Servicer may provide deficiency balance collections services on a contingency fee basis. SUPPLEMENTARY SERVICING AGREEMENT This Supplementary Servicing Agreement (this "Agreement"), dated as of April 1, 1999, by and among MF Receivables Corp. IV, a Delaware corporation (the "Borrower"), Systems & Services Technologies, Inc., a Delaware corporation, as Substitute Servicer (the "Substitute Servicer"), and The Chase Manhattan Bank, in its capacity as verification agent (the "Verification Agent") and as collateral agent (the "Collateral Agent").
DEFICIENCY COLLECTIONS. Under separate agreement, SST may provide deficiency collections services on a contingency fee basis.
(1) These items shall only apply to SST’s performance of successor servicing duties.
(2) Basis points are annualized (i.e., applicable basis points/12) and shall be based on beginning of month outstanding principal balance of each individual Active Contract, as defined below.
(3) SST shall receive this fee for all “Active Contracts” for any full or partial month where it functions as the Servicer. Active Contract is defined as any contract other than: (i) prepaid, fully satisfied contracts; (ii) contracts in which the asset has been liquidated and SST has posted the liquidation proceeds or any other anticipated proceeds (e.g., credit enhancement insurance); or (iii) contracts in which SST has completed all work in connection with processing and receiving insurance payoffs. There shall be a $0.50 monthly servicing fee for each contract that is not an Active Contract until such time as SST is duly instructed to write the obligor’s balance down to $0.00.
(4) To the extent that the successor servicing fee payable to SST pursuant to Section I.B.2.b of this Schedule 1 is less than 2.25% per annum times the principal balance of Active Contracts with remaining terms less than 36 months as of the date of transfer of servicing to SST, certain amounts shall be deposited into the Excess Servicing Fee Account pursuant to Section 5.10.
DEFICIENCY COLLECTIONS. Under separate agreement, the Backup Servicer may provide deficiency collections services on a contingency fee basis.
(1) These items shall only apply to the Backup Servicer's performance of successor servicing duties and constitute the fees and reimbursable expenses due the Backup Servicer as successor servicer as described in the definition of Servicing Fee as modified by Schedule III, item 1 to the Backup Servicing Agreement.