Program Concentration Limits Sample Clauses
Program Concentration Limits. For purposes of the Concentration Limits and Concentration Criterion set forth below, each of the references to Programs A through F therein, shall mean and shall be deemed to be a reference to the operating and origination program of the Seller described in the Credit and Collection Policy and as further described in a certification delivered to the Program Agent on the Closing Date, and other programs as may be identified for inclusion in a specified lettered program below by Borrower from time to time with the prior written consent of the Required Lenders. Criteria Concentration limit Original term greater than or equal to 49 months and less than or equal to 60 months 35.0 % Location of Obligor California 10.0 % Texas 10.0 % Pennsylvania (at any time that no Unfiled Pennsylvania Contracts are included in the Borrowing Base) 7.0 % Pennsylvania (at any time that one or more Unfiled Pennsylvania Contracts are included in the Borrowing Base) 6.0 % New Hampshire (at any time that one or more Unfiled New Hampshire Contracts are included in the Borrowing Base) 2.0 % New York 7.0 % Each other individual state 5.0 % Credit and Collection Policy Program Concentration: Program A: Standard E/C (that is, SO E/C, LRP, SRP, BSO, Platinum and Core E/C) 100 % Program B: CO’s 2.0 % Program C: HRP 2.0 % Program D: CS 2.0 % Program E: ST 2.0 % Program F: Any program of Snap-on Credit other than the programs described in Programs A through E above. 0 % Contracts which have been subject to a Deferral Period for a period of time greater than or equal to 1 day and less than or equal to 90 days 30.0 % Contracts which have been subject to a Deferral Period for a period of time greater than or equal to 61 days and less than or equal to 90 days 10.0 % Except to the extent described in the Snap-on Originator and Snap-on Industrial concentration limits below, Franchisee Concentration Limits 1.0 % Aggregate amount of Contracts originated and sold by all Snap-on Originators (on a combined basis with all other Snap-on Originators, or any Affiliates thereof) to Snap-on Credit (it being understood that any Contracts which are acquired by a Snap-on Originator from a Franchise prior to sale to Snap-on Credit remain subject to the 1.0% of Franchisee concentration limit set forth above). Notwithstanding the foregoing, the concentration limit for Snap-on Originators (on a combined basis), other than Snap-on Tools and Snap-on Industrial, shall be limited to 1.0% (which 1.0% shall constitute a ...
Program Concentration Limits. For purposes of the Concentration Limits and Concentration Criterion set forth below, each of the references to Programs A through F therein, shall mean and shall be deemed to be a reference to the operating and origination program of the Seller described in the Credit and Collection Policy and as further described in a certification delivered to the Program Agent on the Closing Date, and other programs as may be identified for inclusion in a specified lettered program below by Borrower from time to time with the prior written consent of the Required Lenders.