Consumer Financing Sample Clauses

Consumer Financing. Washington Gas offers financing for consumers to purchase natural gas appliances and other energy-related equipment. This Management’s Discussion and Analysis of Financial Condition and Results of Operations describes the company’s financial condition, results of operations and cash flows with specific information on liquidity and capital resources. It also includes management’s interpretation of the company’s past financial results, potential factors that may affect future results, potential risks in the years ahead and approaches used to address these potential risks. RESULTS OF OPERATIONS Net income applicable to common stock was $83.3 million, $67.4 million and $67.3 million for the fiscal years ended September 30, 2000, 1999 and 1998, respectively. The company earned 11.9 percent, 10.4 percent and 11.2 percent, respectively, on average common equity during these three fiscal years. Basic and diluted earnings per average common share were $1.79, $1.47 and $1.54 for fiscal years 2000, 1999 and 1998, respectively. A November 1998 public sale of common stock increased the number of shares outstanding, which reduced the earnings per average common share by $0.02 and $0.07 in fiscal years 2000 and 1999, respectively, from the prior years’ results. Other factors that affected the company’s earnings included: Winter Weather. During each of the last three fiscal years, winter weather that was approximately five percent warmer than normal suppressed the company’s earnings. If normal weather conditions had occurred, Washington Gas estimates that its earnings per average common share during fiscal year 2000 would have been approximately $0.20 higher.
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Consumer Financing. The overwhelming majority of Washington Gas' consolidated assets were devoted to, and revenues were derived from, the regulated utility and the retail energy marketing segments. Going forward, WGL Holdings expects this to continue. However, it does plan to increase the significance of the other segments. Each segment is described below:
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Consumer Financing. This business segment offers financing for residential and small commercial customers to purchase gas appliances and other energy-related equipment. The consumer financing segment sells, with recourse, receivables that result from these financing arrangements to financial institutions. Revenues from the consumer financing segment decreased 21.6 percent in fiscal year 2000 and net income from this segment dropped from $1.7 million in fiscal year 1999 to $0.8 million in fiscal year 2000. These decreases were attributable to a lower volume of contracts sold by the company to banks, in addition to an increase in interest rates charged by those banks compared to last year. A strengthening of the company’s credit criteria, fewer programs offering interest deferrals, as well as a warmer-than-normal winter and a cooler-than-normal summer (which reduced demand for HVAC products financed by the company) lowered the volume of contracts sold. Revenues from this segment rose 17.9 percent in fiscal year 1999 and net income increased from $1.3 million in fiscal year 1998 to
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Consumer Financing. Washington Gas has offered financing for customers to purchase natural gas appliances and other energy- related equipment. During the fiscal years ending September 30, 2000, 1999 and 1998, the consumer financing segment produced operating revenues of $3 million, $4 million and $3 million, respectively, or less than 1 percent of the Company's total operating revenues during each of these three years. Additional financial information about these reported industry segments for fiscal years 2000, 1999 and 1998, is reported in Note 15- Operating Segment Reporting in the Notes to the Consolidated Financial Statements of the Company's 2000 Annual Report to Shareholders, which is incorporated by reference into this report.
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Consumer Financing. This business segment offers financing for residential and small commercial customers to purchase gas appliances and other energy-related equipment. The consumer financing segment sells, with recourse, receivables that result from these financing arrangements to financial institutions. Revenues from the consumer financing segment decreased 21.6 percent in fiscal year 2000 and net income from this segment dropped from $1.7 million in fiscal year 1999 to $0.8 million in fiscal year 2000. These decreases were attributable to a lower volume of contracts sold by the company to banks, in addition to an increase in interest rates charged by those banks compared to last year. A strengthening of the company’s credit criteria, fewer programs offering interest deferrals, as well as a warmer-than-normal winter and a cooler-than-normal summer (which reduced demand for HVAC products financed by the company) lowered the volume of contracts sold. Revenues from this segment rose 17.9 percent in fiscal year 1999 and net income increased from $1.3 million in fiscal year 1998 to $1.7 million in fiscal year 1999, primarily because of an increase in the volume of contracts sold during fiscal year 1999. Interest Expense Total interest expense increased by $6.8 million or 18.3 percent in fiscal year 2000 and decreased by $0.7 million or 2.0 percent in fiscal year 1999. The following table shows the components of the changes in interest expense between years. COMPOSITION OF INTEREST EXPENSE CHANGES Increase/(Decrease) from Prior Year (Millions) 2000 1999 Long-Term Debt $ 1.4 $ 0.9 Short-Term Debt 4.8 (0.8) Other 0.6 (0.8) Total $ 6.8 $ (0.7)
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Consumer Financing 
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Related to Consumer Financing

  • Consumer Leases No Receivable constitutes a “consumer lease” under either (a) the UCC as in effect in the jurisdiction the law of which governs the Receivable or (b) the Consumer Leasing Act, 15 USC 1667.

  • Transaction Financing The Company shall use its reasonable best efforts to take, or cause to be taken, all actions, and do, or cause to be done, and to assist and cooperate with the other parties in doing, all things necessary, proper or advisable to obtain a commitment letter (the “Transaction Financing Commitment Letter”), from a reputable financial institution to provide financing for the Merger and the transactions contemplated hereby on commercially reasonable terms and conditions.

  • Buyer Financing (a) Subject to Section 1.7 hereto, Buyers shall use their reasonable best efforts to arrange and to consummate the Debt Financing as soon as reasonably practicable after the date of this Agreement on the terms described in the Debt Commitment Letter and Fee Letter, which shall include using their reasonable best efforts (i) to maintain in full force and effect the Debt Commitment Letter and Fee Letter in accordance with the terms and subject to the conditions thereof, (ii) to negotiate and execute all definitive agreements with respect to the Debt Financing contemplated by the Debt Commitment Letter on the terms and conditions set forth in the Debt Commitment Letter and Fee Letter (the “Financing Agreements”), (iii) to satisfy on a timely basis all conditions that are within its control to the Debt Commitment Letter, Fee Letter and the Financing Agreements that are applicable to the Buyers, (iv) to comply with its material obligations under the Debt Commitment Letter, the Fee Letter and any related documents, (v) to enforce their rights under the Debt Commitment Letter, Fee Letter and Financing Agreements; provided, that in no event shall Buyers be required to pursue or threaten any litigation against the Debt Financing Sources and (vi) to consummate the Debt Financing at the Closing if such Debt Financing is available in accordance with the terms of the Debt Commitment Letter and Fee Letter; provided, however, that if funds in the amounts and on the terms set forth in the Debt Commitment Letter and Fee Letter become unavailable to the Buyers on the terms and conditions set forth therein, the Buyers shall use their reasonable best efforts to obtain as promptly as practicable, alternative debt financing on terms no less favorable in the aggregate (taking into account any “flex” provisions in the Fee Letter) to Buyer (the “Alternative Financing”) in an amount sufficient, when added to the portion of the Debt Financing that is still available and funds to be supplied by the Buyers (or their Affiliates), to consummate the transactions contemplated under this Agreement and to pay any other amounts required to be paid by the Buyers and their Affiliates in connection with the consummation of the transactions contemplated under this Agreement, including all related fees and expenses to be paid by the Buyers and their Affiliates and to provide the Sellers with a copy of a new financing commitment that provides for such Alternative Financing (the “Alternative Financing Commitment Letter”). If the Buyers proceed with Alternative Financing, they shall be subject to the same obligations as set forth in this Section 4.7(a) with respect to the Debt Financing and the representations and warranties of the Buyers set forth in Section 3.6 shall be true and correct in all material respects on and as of the date of the obtaining of the Alternative Financing with the same effect as though made on and as of such date. If applicable, except as otherwise expressly stated, any reference in this Agreement to “Debt Financing” shall include “Alternative Financing,” any reference to “Debt Commitment Letter” or “Fee Letter” shall include the “Alternative Financing Commitment Letter,” and any fee letter in connection therewith, respectively, and any reference to “Financing Agreements” shall include any definitive agreements with respect to such Alternative Financing.

  • Telephone Consumer Protection Act Consent Each Member expressly consents to receiving calls and messages, including auto-dialed and pre-recorded message calls, and SMS messages (including text messages) from the Administrator, its affiliates, agents and others calling at their request or on their behalf, at any telephone numbers that the Member has provided to the Company or Masterworks (including any cellular telephone numbers). Member’s cellular or mobile telephone provider will charge Member according to the type of plan Member carries. Any Member may unsubscribe from receiving text messages or promotional calls at any time by (i) replying STOP, STOPALL, UNSUBSCRIBE, CANCEL, END or QUIT to any text message such Member receives from the Company or Masterworks or (ii) email to sxxxxxx@Xxxxxxxxxxx.xx with one of the forgoing words in the subject line. Each Member acknowledges and consents that following such a request to unsubscribe, such Member may receive one final text message from Masterworks confirming such request.

  • Securities Transactions The Subadviser and any affiliated person of the Subadviser will not purchase securities or other instruments from or sell securities or other instruments to the Fund; provided, however, the Subadviser or any affiliated person of the Subadviser may purchase securities or other instruments from or sell securities or other instruments to the Fund if such transaction is permissible under applicable laws and regulations, including, without limitation, the 1940 Act and the Advisers Act and the rules and regulations promulgated thereunder. The Subadviser, on its own behalf and with respect to its Access Persons (as defined in subsection (e) of Rule 17j-1 under the 1940 Act), agrees to observe and comply with Rule 17j-1 and its Code of Ethics (which shall comply in all material respects with Rule 17j-1), as the same may be amended from time to time. On at least an annual basis, the Subadviser will comply with the reporting requirements of Rule 17j-1, which may include either (i) certifying to the Adviser that the Subadviser and its Access Persons have complied with the Subadviser’s Code of Ethics with respect to the Subadviser Assets or (ii) identifying any violations which have occurred with respect to the Subadviser Assets. The Subadviser will have also submitted its Code of Ethics for its initial approval by the Board of Trustees no later than the date of execution of this agreement and subsequently within six months of any material change thereto.

  • Purchaser Financing Purchaser assumes full responsibility to obtain the funds required for settlement, and Purchaser’s acquisition of such funds shall not be a contingency to the Closing.

  • Other Financing Notwithstanding anything in this Agreement to the contrary, the Issuer and the Company may hereafter enter into agreements to provide for the financing or refinancing of costs of the Project or any portion thereof.

  • Agency Cross Transactions From time to time, the Sub-Advisor or brokers or dealers affiliated with it may find themselves in a position to buy for certain of their brokerage clients (each an “Account”) securities which the Sub-Advisor’s investment advisory clients wish to sell, and to sell for certain of their brokerage clients securities which advisory clients wish to buy. Where one of the parties is an advisory client, the Advisor or the affiliated broker or dealer cannot participate in this type of transaction (known as a cross transaction) on behalf of an advisory client and retain commissions from both parties to the transaction without the advisory client’s consent. This is because in a situation where the Sub-Advisor is making the investment decision (as opposed to a brokerage client who makes his own investment decisions), and the Sub-Advisor or an affiliate is receiving commissions from one or both sides of the transaction, there is a potential conflicting division of loyalties and responsibilities on the Sub-Advisor’s part regarding the advisory client. The SEC has adopted a rule under the Advisers Act which permits the Sub-Advisor or its affiliates to participate on behalf of an Account in agency cross transactions if the advisory client has given written consent in advance. By execution of this Agreement, the Trust authorizes the Sub-Advisor or its affiliates to participate in agency cross transactions involving an Account. The Trust may revoke its consent at any time by written notice to the Sub-Advisor.

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