PURCHASER/CRITERIA Sample Clauses

PURCHASER/CRITERIA. Section 3.11 is hereby deleted in its entirety and in its place instead is substituted the following:
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PURCHASER/CRITERIA. All Eligible Notes Receivable pledged as Collateral to Agent subsequent to the Effective Date will be underwritten in a manner consistent with the Borrower's general underwriting criteria, as approved in writing by Agent, including, without limitation: (i) the requirement that a majority of sales shall be made to Purchasers with minimum annual income as follows: $35,000 for purchasers residing in the state of Texas, $40,000 for purchasers residing in the state of Illinois, and $45,000 for purchasers residing in the state of Massachusetts, (ii) the requirement that each Purchaser shall have a major credit card issued in his or her name, with a copy of such credit card maintained in Borrower's file for such Purchaser, and (iii) the requirement that the weighted average FICO Credit Bureau Scores of all Purchasers with respect to which a FICO score can be obtained be not less than 640, provided that the aggregate outstanding principal balance of Eligible Notes Receivable pledged to Agent with respect to which a FICO score can not be obtained, does not exceed ten percent (10%) of the aggregate outstanding principal amount of all Eligible Notes Receivable pledged to Agent. Borrower shall not materially alter its general underwriting criteria without the prior written approval of Agent, which approval, Agent may withhold in its sole discretion. ON A SEMI-ANNUAL BASIS, BORROWER SHALL PROVIDE AGENT WITH WRITTEN CERTIFICATION THAT THE UNDERWRITING CRITERIA AS APPROVED BY AGENT REMAIN IN FULL FORCE AND EFFECT AND HAVE NOT BEEN REVISED OR ALTERED WITHOUT AGENT'S CONSENT." 24. CROSS COLLATERALIZATION.
Sample 1
PURCHASER/CRITERIA. All Eligible Notes Receivable pledged as Collateral to Agent subsequent to the Closing Date will be underwritten in a manner consistent with the Borrower's general underwriting guidelines and criteria, as approved in writing by Agent and as set forth on Schedule 1.1(d), including, without limitation: (i) the requirement that a majority of sales shall be made to Purchasers with minimum annual income as follows: $35,000 for Purchasers residing in the state of Texas, $40,000 for Purchasers residing in the state of Illinois, and $45,000 for Purchasers residing in the state of Massachusetts, (ii) the requirement for a cash down payment of at least 15% of the sales price of the Interval for any Purchaser with a FICO score less than 600, and (iii) the requirement that the weighted average FICO Credit Bureau Scores of all Purchasers with respect to which a FICO score can be obtained be not less than 640, provided that the aggregate outstanding principal balance of Eligible Notes Receivable pledged to Agent with respect to which a FICO score can not be obtained, does not exceed ten percent (10%) of the aggregate outstanding principal amount of all Eligible Notes Receivable pledged to Agent. Borrower shall not materially alter its general underwriting criteria without the prior written approval of Agent, which approval, Agent may withhold in its sole discretion. On a semi-annual basis, Borrower shall provide Agent with written certification that the underwriting criteria as approved by Agent remain in full force and effect and have not been revised or altered without Agent's consent.
Sample 1
PURCHASER/CRITERIA. All Eligible Notes Receivable pledged as Collateral to Lender subsequent to the Effective Date will be underwritten in a manner consistent with the Borrower's general underwriting criteria, as approved in writing by Lender, including, without limitation: (i) the requirement that a majority of sales shall be made to Purchasers with minimum annual income as follows: $35,000 for purchasers residing in the state of Texas, $40,000 for purchasers residing in the state of Illinois, and $45,000 for purchasers residing in the state of Massachusetts, (ii) the requirement that each Purchaser shall have a major credit card issued in his or her name, with a copy of such credit card maintained in Borrower's file for such Purchaser, and (iii) the requirement that the weighted average FICO Credit Bureau Scores of all Purchasers with respect to which a FICO score can be obtained be not less than 640, provided that the aggregate outstanding principal balance of Eligible Notes Receivable pledged to Lender with respect to which a FICO score can not be obtained, does not exceed ten percent (10%) of the aggregate outstanding principal amount of all Eligible Notes Receivable pledged to Lender. Borrower shall not materially alter its general underwriting criteria without the prior written approval of Lender, which approval Lender may withhold in its sole discretion."
Sample 1
PURCHASER/CRITERIA. The Purchaser acknowledges and represents that: (i) its execution of this Agreement does not violate the terms of any other dealer/distributor agreement it is a party to; (ii) at no time during discussions concerning this Agreement did the Company induce the Purchaser to terminate or impair any existing contract it may have; and (iii) the Purchaser represents that it possesses any authorization required by the Vendors for the sale of the Products. The Purchaser shall maintain said Vendor authorization(s) in good standing during the terms of this Agreement.
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PURCHASER/CRITERIA. All Eligible Notes Receivable pledged as Collateral to Agent subsequent to the Closing Date will be underwritten in a manner consistent with the Borrower's general underwriting criteria, as approved in writing by TFC, in its sole discretion. Borrower shall not materially alter its general underwriting criteria without the prior written approval of TFC, which approval, TFC may withhold in its sole discretion.
Sample 1
PURCHASER/CRITERIA. All Eligible Notes Receivable pledged as Collateral to Agent subsequent to the Closing Date will be underwritten in a manner consistent with the Borrower’s general underwriting guidelines and criteria as set forth on Schedule 1.1(b) hereof. Borrower shall not materially alter its general underwriting criteria without the prior written approval of Agent, which approval Agent may withhold in its sole discretion. On a semi-annual basis, Borrower shall provide Agent with written certification that the underwriting criteria as approved by Agent remain in full force and effect and have not been revised or altered without Agent’s consent.
Sample 1
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PURCHASER/CRITERIA. All Eligible Notes Receivable pledged as Collateral will be underwritten in a manner consistent with the Borrower’s general underwriting criteria, as approved in writing by Lender, including, without limitation, the requirement for a cash down payment of at least 15% of the sales price of the Interval for any Purchaser with a FICO indicator less than 600. Borrower shall not materially alter its general underwriting criteria without the prior written approval of Lender, which approval, Lender may withhold in its sole discretion. On a semi-annual basis, Borrower shall provide Lender with written certification that the underwriting criteria as approved by Lender remain in full force and effect and have not been revised or altered without Lender’s consent.
Sample 1

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