Offer Procedure. From time to time, we may, but shall not be obligated to, offer to sell you, without recourse, Participations. We agree that you shall be considered for all purposes as the legal and equitable owner of each Participation (together with the Asset to which it relates) and that this Agreement shall not be construed as an extension of credit by us to you.
Appears in 3 contracts
Sources: Master Participation and Servicing Agreement (Pfgi Capital Corp), Master Participation and Servicing Agreement (Provident Financial Group Inc), Master Participation and Servicing Agreement (Pfgi Capital Corp)