Required Procedures means procedures, including credit and underwriting standards, loan to value ratio limitations and the use of Approved Forms with respect to the financing and servicing of SBA 7(a) Note Receivables as in effect on the Closing Date, together with such changes and modifications thereto from time to time as shall be required by SBA Rules and Regulations or as have been approved in writing by Lender, in Lender’s reasonable credit judgment.
Required Procedures. Has the meaning set forth in the Loan Agreement.
Required Procedures means the written policies, procedures and guidelines that Horizon utilizes in the origination (and Horizon Management utilizes in the servicing) of Notes Receivable Horizon owns, or sells to its subsidiaries, specifically including underwriting, documentation, portfolio management and financial policies, procedures and guidelines over collateral and financial analysis, business and asset valuation (including appraisal), auditing, collection activities, renewal, extension, modification, recognition, accrual, non-accrual and charge-off policies, and the use of the Approved Forms with respect to the origination, funding and servicing of Notes Receivable, all in the form delivered to Agent and approved by Agent on or prior to the Closing Date and attached to the Closing Certificate, as amended from time to time in accordance with the Sale and Servicing Agreement; provided, however, that no material change to the Approved Forms or the policies and procedures as in effect on the Closing Date shall be effective unless (a) Agent and Borrower have each received at least ten (10) Business Days prior written notice of such change and, (b) if either Agent in the exercise of its Permitted Discretion, or Borrower in its reasonable discretion, believes that such change could reasonably be expected to have a material adverse effect upon the quality or value of the Eligible Notes Receivable or the collectability of any Note Receivable or the Advances thereon, such change has the prior written approval of both Agent and Borrower; provided further, that (i) each of Agent and Borrower shall use reasonable efforts to notify Horizon of any objection it has to any such proposed change within ten (10) Business Days following its receipt of notice thereof from Horizon, but failure by Agent or Borrower to do so shall not be deemed to be a consent to or approval of such change, and (ii) if, after the expiration of such ten (10) Business Day period, Horizon has provided to each of Agent and Borrower a second written notice of such proposed change and received acknowledgment of Agent's and Borrower's receipt thereof, then each of Agent and Borrower shall be deemed to have consented to such proposed change unless either Agent or Borrower has notified Horizon of its objection thereto within twenty (20) days following its receipt of such second notice from Horizon.
Examples of Required Procedures in a sentence
Required Procedures • Students will take possession of their assigned device during the registration days provided by NHS or during the first five (5) days of school.
Required Procedures • Students will take possession of their assigned laptop during the registration days provided by NMS or during the first ten (10) days of school.
A Competent Supervisor Declaration form must be appended to the Work Plan Methodology and a reference to the Competent Supervisor Declaration shall be made in Section 5.2 – Additional Required Procedures / Safety Plans.
More Definitions of Required Procedures
Required Procedures means the written policies, procedures and guidelines that Horizon utilizes in the origination (and Horizon Management utilizes in the servicing) of Notes Receivable Horizon owns, or sells to its subsidiaries, specifically including underwriting, documentation, portfolio management and financial policies, procedures and guidelines over collateral and financial analysis, business and asset valuation (including appraisal), auditing, collection activities, renewal, extension, modification, recognition, accrual, non-accrual and charge-off policies, and the use of the Approved Forms with respect to the origination, funding and servicing of Notes Receivable, all in the form delivered to Agent and approved by Agent on or prior to the Closing Date and attached to the Closing Certificate, as amended from time to time in accordance with the Sale and Servicing Agreement; provided, however, that no material change to the Approved Forms or the policies and procedures as in effect on the Closing Date shall be effective unless (a) Agent and Borrower have each received at least ten (10) Business Days prior written notice of such change and, (b) if either Agent in the exercise of its Permitted Discretion, or Borrower in its reasonable discretion, believes that such change could reasonably be expected to have a material adverse effect upon the quality or value of the Eligible Notes Receivable or the collectability of any Note Receivable or the Loans thereon, such change has the prior written approval of both Agent and Borrower; provided further, that (i) each of Agent and Borrower shall use reasonable efforts to notify Horizon of any objection it has to any such proposed change within ten (10) Business Days following its receipt of notice thereof from Horizon, but failure by Agent or Borrower to do so shall not be deemed to be a consent to or approval of such change, and (ii) if, after the expiration of such ten (10) Business Day period, Horizon has provided to each of Agent and Borrower a second written notice of such proposed change and received acknowledgment of Agent’s and Borrower’s receipt thereof, then each of Agent and Borrower shall be deemed to have consented to such proposed change unless either Agent or Borrower has notified Horizon of its objection thereto within twenty (20) days following its receipt of such second notice from Horizon.
Required Procedures means those procedures, including underwriting standards, as set forth on Exhibit R-1 attached hereto, to be followed by Borrower when financing Customer Loan Collateral from Customers, together with such changes and modifications thereto from time to time as are not prohibited under Section 7.10 of this Agreement.
Required Procedures means operational procedures and procedures regarding the use of Approved Forms with respect to the financing and servicing of Premium Finance Agreements, as attached to the Closing Certificate, as may be changed or modified from time to time as permitted by Section 7.10 of this Agreement.
Required Procedures means the making of determinations in the exercise of reasonable (from the perspective of a secured lender) business judgment in good faith in accordance with customary businesses practices of the Borrower consistent with the Borrowers publicly disclosed underwriting and portfolio management practices and strategies.
Required Procedures means the written policies and procedures of Borrower specifically including, but not limited to, underwriting, valuation and documentation guidelines, portfolio management policies and procedures, audit and appraisal policies, renewal, extension, modification, non-accrual and charge-off policies, and the use of the Approved Forms with respect to the origination, funding and servicing of Notes Receivable, such forms as delivered to, and approved by, Required Lenders prior to the Closing Date and attached to the Closing Certificate, with such Required Procedures as amended from time to time with the prior written approval of Secured Party (acting with the approval of the Required Lenders). The Required Procedures shall include maximum advance rates not in excess of the Maximum Underwritten Advance Rates with respect to each specified category of Note Receivable Collateral.
Required Procedures means that the Debtor shall (i) provide the Committee with three (3) Business Days notice prior to using funds in the Deposit Account (ii) replenish the Deposit Account as soon as possible after a Cash Usage Event, but in no event later than the Consummation Date; (iii) update the Committee as to the status of the Deposit Account upon the earlier of (a) the Committee's reasonable request and (b) the Update Calls.
Required Procedures means the written policies, procedures and guidelines of Originator, specifically including underwriting, servicing policies and procedures, and renewal, extension, modification, non-accrual and charge-off policies and the use of the Approved Forms with respect to the origination, funding and servicing of Leases, as attached to the Closing Certificate, together with such changes and modifications thereto from time to time; provided, that Lender shall have approved, in writing, in its Permitted Discretion, any material changes and modifications that make the underwriting standards less restrictive, reduce the required creditworthiness of prospective Account Debtors, reduce any collateral requirements or otherwise adversely affect the rights of Borrower or Servicer or Borrower’s or Servicer’s ability to realize on Borrower Leases and related Collateral.