BUILDER CONTRACT definition

BUILDER CONTRACT a Contract which is underwritten by Borrower in accordance with the credit approval guidelines attached hereto as Exhibit 3.1(B), or as such Exhibit may be amended from time to time. DEALER: the seller of the Financed Vehicle to the Contract Debtor. DEBT RATIO: the debt-to-equity ratio, calculated for each Accounting Period by comparing total liabilities, other than Subordinated Debt, to Net Worth. DELINQUENCY MEASUREMENT: as of the end of an Accounting Period, the sum of the Gross Outstanding Balances of all Delinquency Measurement Contracts for which more than 50% of those Scheduled Payments due during the prior 30 days, or in the case of non-monthly accounts, their equivalent as set forth in Exhibit 5.1 (A), are due and unpaid, divided by the sum of the Gross Outstanding Balances of all Delinquency Measurement Contracts, expressed as a percentage. DELINQUENCY MEASUREMENT CONTRACTS: all Pledged Contracts which do not constitute Charged-Off Contracts. DEPOSITORY ACCOUNTS: bank accounts owned by Lender at banks designated by Lender for the purpose of receiving Remittances made payable to it or Borrower. Borrower shall pay all expenses associated with the Depository Accounts. ELIGIBLE CONTRACT: each Contract delivered by Borrower to Lender which is listed on a List of Contracts delivered to Lender at the same time, and which in Lender's sole determination satisfies each of the requirements set forth on Exhibit 3.1 at the time of delivery and thereafter except to the extent expressly stated in Exhibit 3.1 to apply only at delivery or only thereafter. EVENT OF DEFAULT: this term has the meaning provided in Section 15.0 of this Agreement. FINANCED VEHICLE: the new or used Motor Vehicle purchased by a Contract Debtor pursuant to a Contract, or any substituted vehicle which is properly documented. GAAP: Generally Accepted Accounting Principles. GROSS CREDIT LOSSES: for any Accounting Period, the Outstanding Principal Balance of all Charged-Off Contracts reflected on Borrower's general ledger. GROSS OUTSTANDING BALANCE: the total of all remaining payments due under a Contract plus any other amount due thereunder. GUARANTORS: TFCEI, The Insurance Agency, Inc., Recoveries, Inc. and any Person who guarantees Borrower's obligations to Lender. INDEBTEDNESS: the Loan and all other amounts, including but not limited to interest, that Borrower owes Lender in connection with this Agreement. INTEREST COVERAGE: the sum of Borrower's year-to-date pre-tax income plus Borrower...
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Related to BUILDER CONTRACT

  • Bidder/Contractor means the interested Firm/ Company/ Supplier/ Distributors that may provide or provides related Equipment/Services to any of the public/private sector organization under the contract and have registered for the relevant business thereof.

  • Tender Contract means the contract between the City and each Tenderer governing the ITT process;

  • Charter contract means a fixed term, renewable contract between a charter school and an authorizer that outlines the roles, powers, responsibilities, and performance expectations for each party to the contract.

  • Job-order-contracting means a project delivery method in which:

  • Seller Contract any Contract (a) under which Seller has or may acquire any rights or benefits; (b) under which Seller has or may become subject to any obligation or liability; or (c) by which Seller or any of the assets owned or used by Seller is or may become bound.

  • Provider contract means any contract between a provider and a carrier (or a carrier's network,

  • EPC Contract means the Seller’s engineering, procurement and construction contract with the EPC Contractor.

  • CFD Contract or "CFD" shall mean a contract which is a contract for difference by reference to fluctuations in the price of the relevant security or index;

  • Master Contract means the CATS Master Contract between the Maryland Department of Budget and Management andTO Contractor dated December 19, 2005.

  • sub-contract means the primary contractor’s assigning, leasing, making out work to, or employing, another person to support such primary contractor in the execution of part of a project in terms of the contract;

  • Customer Contract means any written contract or agreement (other than trade contracts) between Seller and any of its customers (or under which Seller has rights) which has been entered into and signed by the parties thereto in connection with the publication of the Directories and corresponding provision of Directory Services.

  • Construction Contract means the agreement(s) entered into between the Company and the Construction Contractor(s) for the design, engineering, procurement, construction, completion, start-up, testing, and Commissioning of the Facility, and also includes any amendment to such agreement(s) made from time to time;

  • Major Contract means (i) any management agreement relating to the Properties or the Loan Parties, (ii) any agreement between any Loan Party and any Affiliate of any Relevant Party and (iii) any brokerage, leasing, cleaning, maintenance, service or other contract or agreement of any kind (other than Leases) relating to the Properties, in each case involving payment or expense of more than One Million and No/100 Dollars ($1,000,000) during any twelve (12) month period, unless cancelable on thirty (30) days or less notice without requiring payment of termination fees or payments of any kind.

  • Project Contract means any agreement or agreements for the design, development, acquisition, installation, implementation and construction of all or a substantial part of the Project by and between a Contractor and the Recipient.

  • O&M Contract means the operation and maintenance contract that may be entered into between the Concessionaire and the O&M Contractor for performance of all or any of the O&M obligations;

  • Training Contract means a contract or an agreement for a Traineeship made between the Employer and an Employee to whom this Agreement applies, and that is registered with the relevant State or Territory Training Authority.

  • Multiyear contract means a contract that extends beyond a one-year period, including a contract that permits renewal of the contract, without competition, beyond the first year of the contract.

  • Open Contract means a Contract which has not been closed out and which has not yet matured;

  • Supplier/Contractor means the individual, firm or company with whom the contract has been concluded for supplying the Goods and Services under the Contract. The Supplier/Contractor shall be deemed to include its successors (approved by the purchaser), representatives, heirs, executors, administrators and permitted;

  • Similar contract means Motor Vehicle.

  • Design-build contract means a single contract with a Design-Build Firm for the design and construction of a public construction project.

  • Construction Contracts means the contracts between Lessee and Contractors for the furnishing of labor, services or materials to the Leased Premises in connection with the construction of the Improvements.

  • Service Contract means, with respect to a Financed Vehicle, the agreement, if any, financed under the related Receivable that provides for the repair of such Financed Vehicle.

  • Contract Work means everything required to be furnished and done by the Contractor by any one or more of the parts of the Contract referred to in Article 1, except Extra Work as hereinafter defined.

  • Executory Contract means a contract to which one or more of the Debtors is a party that is subject to assumption or rejection under sections 365 or 1123 of the Bankruptcy Code.

  • Concession Contract means a contract for pecuniary interest concluded in writing between one or more economic operators and one or more contracting authorities within the meaning of Articles 168 and 172, in order to entrust the execution of works or the provision and management of services to an economic operator (the ‘concession’). The remuneration shall consist either solely in the right to exploit the works or services or in that right together with payment. The award of a concession contract shall involve the transfer to the concessionaire of an operating risk in exploiting those works or services encompassing demand risk or supply risk, or both. The concessionaire shall be deemed to assume an operating risk where, under normal operating conditions, there is no guarantee of recouping the investments made or the costs incurred in operating the works or the services at stake;