Principal Loss Scenarios Sample Clauses

Principal Loss Scenarios. MicroTraders will generally deem a Loan to be in default if MicroTraders determines that collection of funds for such Loan is doubtful or the cumulative amount repaid as of a quarterly reconciliation is less than the amount expected as of six (6) months prior, although case by case differences may exist based on pending prospects for repayment of the Loan and depending on country context and related system and regulatory constraints. You understand and hereby consent (without any prior notice thereof) to any restructuring of the repayment plan for your Loan(s) and/ or, in MicroTraders's sole discretion, any extension of the length of the term of your Loan(s) in order to increase the chances that your Loan(s) will be repaid in whole or in part. In cases where a Loan is in default, and subject to the distribution timing provisions noted in Section 1.3 (Loan Collection and Repayment) above, each applicable Lender / Donor will have the option to recover a portion of whatever principal has been repaid up to that point. Basically, MICROTRADERS HAS GUIDELINES FOR WHEN TO DECLARE A LOAN IN DEFAULT (MEANING WE BELIEVE THE LOAN IS NOT GOING TO BE REPAID). WE MAY DECIDE IT’S BETTER NOT TO FOLLOW THESE GUIDELINES IN SOME CASES. FOR INSTANCE, WHILE WE WON’T CHANGE A LOAN’S REPAYMENT TERMS ON THE MICROTRADERS WEBSITE, WE MAY NEVERTHELESS ALLOW A BORROWER OR FIELD PARTNER MORE TIME TO REPAY IF WE THINK IT WILL HELP YOU GET YOUR MONEY BACK. For Partner Loans made in local currencies other than the U.S. dollar, MicroTraders gives Field Partners the option to have Lender / Donors bear the risk of principal losses resulting from currency exchange rate fluctuations. Field Partners may require Lender / Donors to bear any losses due to the appreciation of the U.S. dollar relative to the local currency in which the Loan was made. The Loan profile for each Partner Loan on the Website specifies whether the applicable Field Partner will cover some or all losses from currency fluctuations, or whether Lender / Donors will be required to bear the risk of currency exchange rate losses. If there are currency exchange rate gains during the course of a Loan, such gains will first be used to offset any exchange rate losses on that same Loan, and any gains above the original Loan amount will be used by MicroTraders to further its charitable purposes (for example, funding future Loans or covering MicroTraders's operating expenses). Basically, IN ADDITION TO LOAN DEFAULTS, YOU MAY LOSE MONEY ...
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Related to Principal Loss Scenarios

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  • Loss of Shared-Loss Coverage on Shared-Loss Loans The Receiver shall be relieved of its obligations with respect to a Shared-Loss Loan upon payment of a Foreclosure Loss amount, or a Short Sale Loss amount with respect to such Single Family Shared-Loss Loan, or upon the sale without FDIC consent of a Single Family Shared-Loss Loan by Assuming Institution to a person or entity that is not an Affiliate. The Assuming Institution shall provide the Receiver with timely notice of any such sale. Failure to administer any Shared-Loss Loan or Loans in accordance with Article III shall at the discretion of the Receiver constitute grounds for the loss of shared loss coverage with respect to such Shared-Loss Loan or Loans. Notwithstanding the foregoing, a sale of the Single Family Shared-Loss Loan, for purposes of this Section 2.7, shall not be deemed to have occurred as the result of (i) any change in the ownership or control of Assuming Institution or the transfer of any or all of the Single Family Shared-Loss Loan(s) to any Affiliate of Assuming Institution, (ii) a merger by Assuming Institution with or into any other entity, or (iii) a sale by Assuming Institution of all or substantially all of its assets.

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  • Cyber incident damage assessment activities If DoD elects to conduct a damage assessment, the Contracting Officer will request that the Contractor provide all of the damage assessment information gathered in accordance with paragraph (e) of this clause.

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