Adverse Credit definition

Adverse Credit or “Adverse Credit history” means that the credit history of an Applicant reflects any condition or event which would at the time of such Loan Application disqualify the Applicant from eligibility for a PLUS Loan under the Higher Education Act or any applicable Guarantor Regulations. As of the effective date hereof, each of the following is understood to be a disqualifying Adverse Credit item which will be identified by ACS on its credit review reports:
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Examples of Adverse Credit in a sentence

  • Provides the name and address of the credit bureau accessed for the Adverse Credit history information.

  • Identify each Applicant for a PLUS Loan who does not have an Adverse Credit history by generating and providing to LENDER a disbursement report related to loan origination.

  • Upon request by LENDER from time to time, return the original or a copy of each Loan Application processed by ACS (other than electronically transmitted Loan Applications, which will not be transmitted to LENDER) for which an Adverse Credit history exists, and other information in ACS's possession regarding its review of such Loan Application.

  • Do or cause to be done all things necessary to preserve, renew and keep in full force and effect its corporate existence and any necessary state or foreign qualifications (other than any qualifications the absence of which, in the aggregate, would not result in a Material Adverse Credit Agreement Final Effect), except that the foregoing shall not prohibit mergers and consolidations permitted under Section 7.10).

  • Generate and mail to the Applicant an "adverse action" letter on behalf of LENDER and in LENDER's name with respect to each Applicant who has been identified as having an Adverse Credit history, within 30 days after ACS receives a completed Loan Application from LENDER and the credit bureau report.

  • Upon request by LENDER from time to time, return the original or a copy of each Loan Application processed by [•] (other than electronically transmitted Loan Applications, which will not be transmitted to LENDER) for which an Adverse Credit history exists, and other information in [•]’s possession regarding its review of such Loan Application.

  • The Loan also becomes immediately due and payable if an Adverse Credit Event happens or if you are in default under this Agreement or the Security Document.

  • No ERISA Event has occurred or is reasonably expected to occur that, when taken together with all other such ERISA Events for which liability is reasonably expected to occur, could reasonably be expected to result in a Material Adverse Credit Agreement Effect.

  • Maintain accurate books and records of all transactions hereunder, including Adverse Credit history reports of Applicants processed for LENDER hereunder.

  • Council reserves the right to refuse to accept further cheques from the drawer or beneficiary, to place the matter on the National Adverse Credit Listing and also institute legal action which may include criminal charges against the offender.