Credit Department Sample Clauses

Credit Department. AFC shall have the following objectives in its Credit Department: • To set the level of funds and monitor performance to make sure AFC is achieving rates of return adequate to meet budgeted profit objectives • To consider all risks involved with a loan and to evaluate and analyze risk factors during the period that the loan is available • To maintain a moderately aggressive lending posture that achieves reasonable growth objectives • To avoid undue concentrations of exposure to any one credit loan The primary functions of the Credit Department shall be to: • Process loan applications and prepare recommendations for approval by the Credit Department and Credit Committee • Obtain all required loan documentation • Manage force-placed insurance • Establish and update the credit file for each loan • In addition to these primary duties, other functions may be assigned to the department by the President The President shall be responsible for the general administration and supervision of the loan portfolio. He shall monitor compliance with this policy and shall see that reports of loans approved and other lending activities are made to the Credit Committee. The President or his designee has authority to approve loans up to and including [*]. The Chief Operating Officer shall have primary responsibility for compliance with the policies stated herein and shall see that proper and complete reports are made to the Credit Committee. The Director of Credit Services (DCS) shall be responsible for the day-to-day operation of the Credit Department. The DCS shall see that loan forms and procedures are updated from time to time, that all Credit personnel are properly trained and that all lending operations are carried out in a prudent and proper manner. The DCS will ensure proper review of procedures and controls over the credit approval process. The DCS will establish and maintain approved credit limits. It is the DCS and/or the Credit Committee’s prerogative to restrict temporary increases in conjunction with line increases or new lines for [*]. The Credit Analyst has authority to approve new loans and existing loan increases up to and including [*] in accordance with the AFC Credit Scorecard. The Credit Analyst will use reasonable business judgment in addition to the scorecard when approving or declining loan applications. Loan approvals, which exceed the scorecard limit, require approval by the Credit Manager. Receivables Purchase Agreement AFC - Credit Policy
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Credit Department. If any deductions shall be subject to 1% penalty per day on the deducted amount. PAYMENT TERMS AND BANK DETAILS ALL PAYMENTS HAVE TO BE SETTLED IN THE CURRENCY INDICATED ON THE INVOICE BY WIRE TRANSFER, NETT OF ANY BANK CHARGES, TO THE RESORT’S FOLLOWING ACCOUNT: BENEFICIARY CUSTOMER Emerald Resort Pvt. Ltd., A/C No. 1260 1570540 000 Xxx Xxxxx Xxxxxxxx, Xxxxxxxx, Xxxxxxxxxxxxxxxx Xxxx, Xxxx, 00000. Rep. of Maldives.
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Credit Department. The Seller reserves the right of declining to make shipment whenever, for any reason, there is doubt as to Buyer's financial responsibility, and Seller shall not in such event be liable for breach or nonperformance of contract in whole or in part.
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Related to Credit Department

  • Loan Administration Borrowings under the Loan shall be as follows:

  • Trust Administration The Adviser shall give the Trust the benefit of its best judgment, efforts and facilities in rendering its services. The Adviser shall at all times conform to: (i) all applicable provisions of the Act and any rules and regulations adopted thereunder; (ii) the provisions of the Registration Statement of the Trust under the Securities Act of 1933 and the Act as amended from time to time; (iii) the provisions of the Agreement and Declaration of Trust and the By-Laws of the Trust; and (iv) any other applicable provisions of state and federal law. Subject to the direction and control of the Trust, the Adviser shall supervise the Fund’s business affairs. In addition, to the extent not otherwise provided by other parties under agreements with the Trust, the Adviser shall supply: (i) non-investment related statistical and research data; (ii) the services of a Chief Compliance Officer for the Trust with respect to the Fund and (iii) executive and administrative services. The Adviser shall also assist with and/or supervise the preparation by the Trust’s administrator, transfer agent, and/or auditors of: (i) tax returns; (ii) reports to shareholders of the Fund; (iii) reports to, and filings with, the Securities and Exchange Commission, state securities commissions and Blue Sky authorities including preliminary and definitive proxy materials and post-effective amendments to the Trust’s registration statement; and (iv) necessary materials for meetings of the Trust’s Board of Trustees. The Adviser shall provide personnel to serve as officers of the Trust if so elected by the Board of Trustees. Executive and administrative services include, but are not limited to, the coordination of all third parties furnishing services to the Fund, review of the books and records of the Fund maintained by such third parties, and the review and submission to the officers of the Fund for their approval, of invoices or other requests for payment of Fund expenses; and such other action with respect to the Fund as may be necessary in the opinion of the Adviser to perform its duties hereunder.

  • Contract Administration The Delegate shall cause that the foreign custody arrangements with an Eligible Foreign Custodian shall be governed by a written contract that the Delegate has determined will provide reasonable care for Fund assets based on the standards applicable to custodians in the relevant market. Each such contract shall, except as set forth in the last paragraph of this subsection (b), include provisions that provide:

  • Call Protection If the Commitments are voluntarily terminated or reduced by the Borrower pursuant to Section 2.06(b) at any time on or prior to the first anniversary of the Effective Date, the Borrower shall on the date of any such termination or reduction pay to the Administrative Agent, for the ratable benefit of the Lenders, an amount equal to two percent (2%) of the aggregate principal amount of such termination or reduction.

  • Environmental Protection Except as set forth in Schedule 5.13 annexed hereto:

  • Gentlemen In accordance with the above-referenced Lease, we wish to advise and/or confirm as follows:

  • Home Office Payment So long as any Purchaser or its nominee shall be the holder of any Note, and notwithstanding anything contained in Section 14.1 or in such Note to the contrary, the Company will pay all sums becoming due on such Note for principal, Make-Whole Amount, if any, interest and all other amounts becoming due hereunder by the method and at the address specified for such purpose below such Purchaser’s name in Schedule A, or by such other method or at such other address as such Purchaser shall have from time to time specified to the Company in writing for such purpose, without the presentation or surrender of such Note or the making of any notation thereon, except that upon written request of the Company made concurrently with or reasonably promptly after payment or prepayment in full of any Note, such Purchaser shall surrender such Note for cancellation, reasonably promptly after any such request, to the Company at its principal executive office or at the place of payment most recently designated by the Company pursuant to Section 14.1. Prior to any sale or other disposition of any Note held by a Purchaser or its nominee, such Purchaser will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon or surrender such Note to the Company in exchange for a new Note or Notes pursuant to Section 13.2. The Company will afford the benefits of this Section 14.2 to any Institutional Investor that is the direct or indirect transferee of any Note purchased by a Purchaser under this Agreement and that has made the same agreement relating to such Note as the Purchasers have made in this Section 14.2.

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