Modifications of Receivables. Except in connection with a reduction or increase in the interest rate not in excess of 1.0% in respect of an Obligor's election to begin or cease making payments via pre-authorized checking, in connection with Upgrades or in connection with modifications to comply with the Servicemembers Civil Relief Act, the Servicer shall not reschedule, revise downward or defer payments on a Receivable or modify the terms or conditions of the related Contract or Mortgage in a manner adverse to the Trust unless the Note Majority shall have consented in writing to the same; provided that the Servicer shall, without the consent of the Note Majority, be permitted to modify, waive or amend the terms or conditions of the related Contract with respect to Receivables representing not more than 1.00% of the aggregate advances made under the Notes in connection only with Workout Receivables.
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Modifications of Receivables. Except in connection with a reduction or increase in the interest rate not in excess of 1.0% in respect of an Obligor's election to begin or cease making payments via pre-authorized checking, in connection with Upgrades or in connection with modifications to comply with the Servicemembers Civil Relief Act, the Servicer shall not reschedule, revise downward or defer payments on a Receivable or modify the terms or conditions of the related Contract or Mortgage in a manner adverse to the Trust unless the Note Majority shall have consented in writing to the same; provided that the Servicer shall, without the consent of the Note Majority, be permitted to modify, waive or amend the terms or conditions of the related Contract with respect to Receivables representing not more than 1.00% of the aggregate advances made under the Notes in connection only with Workout ReceivablesNotes.
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