Retained Interests. In connection with any Unconverted Accounts Sale, Whole Loan Sale or Securitization, Lender and Borrower agree that the "RETAINED INTEREST" shall be the difference, if any, between the present fair market value of the Assets being sold (or otherwise transferred) and the advance rate, or the sale price, as the case may be, received by Borrower in connection therewith. The Retained Interest shall be used to determine the Lender's Residual and the Borrower's Residual with respect to the Assets being sold (or otherwise transferred).
Appears in 2 contracts
Sources: Master Loan and Servicing Agreement (Credit Store Inc), Master Loan and Servicing Agreement (Credit Store Inc)