Fraud Provision definition
Fraud Provision means, the right (but not the obligation) of the Seller to repurchase any Fraud Delinquent Receivable pursuant to the Receivable Purchase Agreement; provided that in no event shall the number of Fraud Delinquent Receivables so repurchased exceed $10,000,000 during the term of this Agreement.
Examples of Fraud Provision in a sentence
The Fraud Provision is replaced by the following: We do not provide coverage for an "insured" who has made fraudulent statements or engaged in fraudulent conduct in connection with any accident or loss for which coverage is sought under this policy.