MINIMUM LOAN DELINQUENCY. The Borrower will not permit as of the last day of each fiscal quarter its over 30-day delinquency rate on its entire consumer loan portfolio (including, without limitation, all consumer loans pledged pursuant to the Security Agreement, the Xxxxxx Facility and the Textron Facility) for any Reference Period to be greater than twenty-five percent (25%). In the event that, as of the last day of any fiscal quarter, such delinquency rate is greater than twenty percent (20%), the Borrower hereby agrees that, at the Agent's request and at the Borrower's expense, the Banks may conduct an audit of the Borrower in accordance with Section 7.9.1 hereof (and such audit shall not count against the annual audit limit set forth in Section 7.9.1).
MINIMUM LOAN DELINQUENCY. Borrower will not permit as of the last day of each calendar quarter its over 30-day delinquency rate on its entire Notes Receivable portfolio (including, without limitation, all Pledged Notes Receivable pledged to Lender hereunder, under the Additional Credit Facility and the Existing Credit Facilities and all Notes Receivable pledged pursuant to the Xxxxxx Facility and the Sovereign Facility) to be greater than twenty-five percent (25%). If, as of the last day of each calendar quarter, Borrower's over 30-day delinquency on its entire Pledged Notes portfolio (including, without limitation, all Notes Receivable pledged to Lender under the Additional Credit Facility and the Existing Credit Facilities and all Notes Receivable pledged pursuant to the Xxxxxx Facility and the Sovereign Facility) is greater than twenty percent (20%), then Lender shall have the right to conduct an audit, at Borrower's sole cost and expense, of all Borrower's Notes Receivable pledged to Lender hereunder.
