Recourse Pool Sample Clauses
Recourse Pool. (a) To provide recourse to Financing Party for losses that Financing Party may incur in connection with the Transactions Company shall allocate for each Transaction approved and funded pursuant to this Agreement 10% of the overall cost of the associated Delivery Vehicle into a recourse pool ("Recourse Pool") pursuant to the terms of the Reserve Account Agreement executed between the parties on even date herewith (the "Reserve Account Agreement"). Company shall maintain the recourse pool pursuant to the terms of the Reserve Account Agreement until such time as it shall be terminated or end by its own terms.
(b) Company shall keep an accounting with respect to the Recourse Pool. The Company shall furnish to the Financing Party written monthly reports setting forth information concerning amounts accrued to and paid out of the Recourse Pool and the balance of the Recourse Pool, together with such additional information as may be requested by Company in its reasonable discretion.
(c) The obligations of the parties with respect to the Recourse Pool and the recovery and remarketing of Delivery Vehicles pursuant to this Agreement, the Reserve Account Agreement, and/or the Servicing Agreement, shall survive the termination of this Agreement until such time as any Transactions entered into and financed by Financing Party pursuant to this Agreement have fully matured and been paid in full and satisfied.
Recourse Pool. (a) To provide recourse to Financing Party for losses that Financing Party may incur in connection with the Transactions, Company shall allocate for each Transaction approved and funded pursuant to this Amended Agreement 10% of the overall cost of the associated Delivery Vehicle into a recourse pool (“Recourse Pool”) pursuant to the terms of the Amended and Restated Reserve Account Agreement executed between the parties on even date herewith (the “Amended Reserve Account Agreement”). Company shall maintain the recourse pool pursuant to the terms of the Amended Reserve Account Agreement until such time as it shall be terminated or end by its own terms.
(b) Company shall keep an accounting with respect to the Recourse Pool. The Company shall furnish to the Financing Party written monthly reports setting forth information concerning amounts accrued to and paid out of the Recourse Pool and the balance of the Recourse Pool, together with such additional information as may be requested by Company in its reasonable discretion.
(c) The obligations of the parties with respect to the Recourse Pool and the recovery and remarketing of Delivery Vehicles pursuant to this Amended Agreement, the Amended Reserve Account Agreement, and/or the Amended Service Agreement, shall survive the termination of this Amended Agreement until such time as any Transactions entered into and financed by Financing Party pursuant to this Amended Agreement have fully matured and been paid in full and satisfied.
