RECOURSE BASIS Sample Clauses

RECOURSE BASIS. If the sale is on a recourse basis and the debtor becomes sixty (60) days in default or the Servicer repossesses the collateral under the terms of the note, then the Seller shall be obligated to repurchase the loan for the outstanding principal and accrued interest. The debtor shall be considered in default if any portion of the full principal and interest payment on any loan is sixty (60) days in arrears. Seller or secondary Seller shall not permit a "skip a payment" arrangement with any debtor without consent of the Buyer, which consent shall be considered if such an arrangement is consistent with and does not exceed Buyer's own guidelines for such matters. The Seller or secondary Seller shall not allow the outstanding principal balance of recourse instruments to amount to more than 25% of its capital at any time. In the event that Seller or secondary Seller exceeds this ratio at any time, Buyer may at its discretion require the repurchase of a sufficient number of loans so that the above ratio requirement is satisfied. Seller or secondary Seller shall immediately advise Buyer in the event that the ratio set forth above is exceeded; and shall document the current ratio at any time upon Buyer's request.
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RECOURSE BASIS. The purchase of INVOICES from CLIENTS by METRO wherein CLIENTS retain the risk of non-payment of an INVOICE by a CUSTOMER for any reason whatsoever.
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RECOURSE BASIS. The purchase of BILLS from CLIENT by METRO wherein CLIENT retains the risk of non-payment of a BILL ▇▇ a CUSTOMER for any reason whatsoever.
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RECOURSE BASIS. The purchase of INVOICES from CLIENT by METRO wherein CLIENT retains the risk of non-payment of an INVOICE by a CUSTOMER for any reason whatsoever. 1.5.
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RECOURSE BASIS. The Loan Participation Certificate shall state all relevant recourse terms, if applicable.
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Related to RECOURSE BASIS

  • Interest Rate Basis Interest on this Note will be determined by reference to the applicable Interest Rate Basis or Interest Rate Bases, which may, as described below, include the CD Rate, the CMT Rate, the Commercial Paper Rate, the Constant Maturity Swap Rate, the Federal Funds Open Rate, the Federal Funds Rate, LIBOR, the Prime Rate or the Treasury Rate (each as defined below).

  • Settlement Date Basis For purposes of this Agreement, all determinations of whether an investment is to be included as a Portfolio Investment shall be determined on a settlement-date basis (meaning that any investment that has been purchased will not be treated as a Portfolio Investment until such purchase has settled, and any Portfolio Investment which has been sold will not be excluded as a Portfolio Investment until such sale has settled); provided that no such investment shall be included as a Portfolio Investment to the extent it has not been paid for in full.

  • Adjusted Quick Ratio A ratio of (i) Quick Assets to (i) Current Liabilities minus the current portion of Deferred Revenue of at least 1.15 to 1.00.

  • Determination of Interest Rate Basis The Calculation Agent shall determine the rate derived from each Interest Rate Basis in accordance with the following provisions.

  • After-Tax Basis Indemnification under Section 11.1 and Section 11.2 shall be in an amount necessary to make the Indemnified Party whole after taking into account any tax consequences to the Indemnified Party of the receipt of the indemnity provided hereunder, including the effect of such tax or refund on the amount of tax measured by net income or profits that is or was payable by the Indemnified Party.