Recourse Accounts. The Bank and the Company hereby agree to establish a program (the “Recourse Program”) that may, in accordance with the terms and subject to the conditions set forth in Schedule 13.01, apply to certain Accounts which the Bank would not otherwise approve under the Underwriting and Credit Policy.
Recourse Accounts. See Section 2.1.2.
Recourse Accounts. (a) It is the intention of the parties that the Program be available to provide financing to those LESCO commercial customers qualifying for the Program for the purchase of goods and services from LESCO. The foregoing notwithstanding, LESCO acknowledges and agrees that Bank shall have sole discretion over the establishment and application of the credit criteria used to approve or decline prospective Accountholders and that such credit criteria will be the primary basis upon which Bank will determine whether the credit applications of prospective Accountholders will be approved or declined. In any case in which Bank has declined an application for an Account, but the applicant meets the following criteria:
Recourse Accounts. Accounts and accounts receivable of the Borrower and ------------------ its subsidiaries for which the credit risk for non-payment has not been wholly assumed by a factor or other Person; to the extent that the Borrower or its Subsidiaries retains any credit risk with respect to such account or account receivable, whether fixed or contingent, such account or account receivable shall be deemed a Recourse Account.
