Firm Offers of Credit Sample Clauses

Firm Offers of Credit. Ford Credit will offer a minimum of 200,000 pre-approved firm offers of credit during the Term of this Agreement. Ford Credit shall make good faith efforts to issue the offers during the Term of this Settlement Agreement. However, if Ford Credit is unable, during the Term of the Settlement Agreement, to issue the total number of such pre-approved firm offers of credit required by this Agreement, Ford Credit will continue to make good faith efforts to issue such pre-approved firm offers of credit thereafter until the total number of pre-approved firm offers of credit required by this Agreement is issued. Screening of IPCs for issuance of the DMI preapprovals is subject to Ford Credit’s normal credit screening parameters, which may change from time to time. Preapproved customers must meet Ford Credit’s credit risk criteria for the acquisition of Contracts in place at the time of the particular offering. Ford Credit may exclude IPCs from this DMI based on characteristics such as, but not limited to, prior bankruptcy, prior vehicle repossession, too few rated tradelines, prior chargeoff, existing past due trade line, consumer statement that appears in credit bureau records, and past due vehicle credit. Ford Credit may also implement procedures designed to limit the issuance of multiple offers to the same individual in any given time period. IPCs receiving the DMI preapprovals will be advised that they are preapproved for credit up to a specified dollar amount for the purchase of a new or, if applicable, used vehicle at any dealership with which Ford Credit does business. The DMI preapproval will specify that the recipient is preapproved with respect to vehicle financing at a participating dealership for a period of not less than 30 days. Accompanying the DMI preapprovals will be information communicating the current availability of one or more Special Rate Programs. There is no obligation to reference all or any Special Rate Program in such communications. The IPCs do not need to receive the DMI preapprovals simultaneously nor must their DMI preapproval offers include the same dollar amount or reference the same Special Rate Program or all vehicles available. The DMI preapprovals will be nontransferable. The DMI preapproval offers may be contingent on conditions, including but not limited to: the IPC’s presentation of a preapproval certificate to a participating dealership; the IPC’s signature on the certificate together with valid proof of identity; and compl...
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Related to Firm Offers of Credit

  • Letters of Credit (a) The Letter of Credit Commitment.

  • Loans The Sponsor has agreed to make loans to the Company in the aggregate amount of up to $300,000 (the “Insider Loans”) pursuant to a promissory note substantially in the form annexed as an exhibit to the Registration Statement. The Insider Loans do not bear any interest and are repayable by the Company on the earlier of December 31, 2021 or the consummation of the Offering.

  • Credit Line If your application is approved by us, this agreement will constitute a revolving line of credit for an amount which will be the credit line under your Account. We will advise you of the amount of your credit line. That amount will be the maximum amount you may have outstanding at any time. You agree not to attempt to obtain more credit than the amount of your credit line. However, if you temporarily exceed your credit line, you agree to repay the excess immediately, even if we have not yet billed you. Obtaining such credit does not increase your credit line and if you exceed your Credit Limit repeatedly, we may suspend your credit privilege under this Agreement. We retain the right to increase or decrease your credit line at any time for any reason. Any increase of reduction on the limit of your credit line will be shown on your monthly statement or by separate notice together with any changes in the applicable minimum monthly payments. Your eligibility for this credit line is determined by our loan policy and may be terminated at our sole discretion, without demand or notice. You may close your credit line at any time by notifying us in writing and returning all Cards cut in half. If you terminate this Agreement or if we terminate or suspend your credit privileges, the provisions of this Agreement and your liability hereunder shall otherwise remain in full force and effect until you have paid us all sums due under this Agreement and returned all Cards.

  • Revolving Loans The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of all Revolving Loans outstanding on such date.

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