Consumer Loan Value Clause Samples
The Consumer Loan Value clause defines how the value of a consumer loan is determined for the purposes of the agreement. Typically, this involves specifying the principal amount outstanding, possibly adjusted for accrued interest, fees, or other charges as outlined in the contract. By clearly establishing the method for calculating the loan's value, this clause ensures transparency and consistency in financial reporting and helps prevent disputes over the amount owed or the basis for repayments.
Consumer Loan Value. Debtor represents to Lender that the following information regarding the Consumer Loan Value is true and correct:
Consumer Loan Value. Debtor represents to Lender that the following information regarding the Consumer Loan Value is true and correct in all material respects (without duplication of any materiality qualifier): A Applicable Advance Rate ____% B Eligible Receivables $ C Consumer Loan Value (Eligible Receivables times the applicable Advance Rate) $ D Minus the total principal amount of Indebtedness $ E Plus the balance of the Collateral Deposit Account (and amounts in transit) $ F Consumer Loan Value Deficiency (if any) $