Risk Acceptance Criteria Clause Samples
POPULAR SAMPLE Copied 6 times
Risk Acceptance Criteria. Must be 22 years of age or older at the time the application is submitted · Must have one year of verifiable over-the-road tractor trailer experience within the past 36 months · Cannot have more than 12 months of unverifiable work history or unemployment (while not receiving unemployment benefits) within the past 36 months · Must be a U.S. citizen · Must hold a valid CDL A issued by the applicant’s current state of residence · Must be able to physically inspect equipment for safety/mechanical defects · Must be able to load and unload cargo · Must be able to hook and unhook tractors and trailers · Must be able to complete required paperwork · Must be able to communicate via telephone · Must be able to complete physical and cognitive functions such as: sit for an extended period of time, steer, shift gears, operate the clutch, brake and climb in and out of the tractor · Must be able to pass a DOT regulated physical · Applicant must be within Quality’s outlined hiring area Disqualifying Conditions: · DUI, DWI, any felony, careless or reckless driving, leaving the scene of an accident, fleeing or eluding the police or assault with a vehicle within the past 10 years · Sale of a controlled substance, possession of a controlled substance with the intent to distribute, the possession of a controlled substance or the transportation of a controlled substance in a commercial vehicle or failure or refusal to take a drug or alcohol test ever · Two or more DUIs or DWIs in a lifetime · One or more preventable incident within the past six months · One or more preventable accident (not including incidents on private property unless damage is more than $5000 and/or includes police involvement) in the past 12 months of driving · Any combination of three tickets/preventable accidents or incidents in the last three years, including no more than one major violation (DOT recordable accident, major accident or major moving violation) · Any combination of “serious” infractions as outlined by FMCSR Subpart 383.51 during the prescribed period of disqualification or DOT mandated suspensions for excessive violations within the past five years · Applicants currently on parole, probation or with a pending charge 9▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ | I▇▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ | Q▇▇▇▇▇▇▇▇.▇▇▇ | P: (▇▇▇) ▇▇▇-▇▇▇▇ See attached. This Program Agreement (this “Agreement”) is entered into as of September 28, 2015, by and between 19th Capital Group, LLC, a Delaware limited liability company with a principal plac...
Risk Acceptance Criteria. All prospective Lessees/Borrowers shall be required to meet 19th Capital’s risk acceptance criteria (“RAC”) as established by 19th Capital from time to time and provided to Quality in writing. 19th Capital may from time to time modify the requirements for credit approval of prospective Lessees/Borrowers on such terms as may be determined by 19th Capital in its sole discretion and provide such modifications to Quality in writing.
Risk Acceptance Criteria. The company has developed Risk Acceptance Criteria, (“RAC’s) to be used as a guide in structuring and evaluating loan transactions. These criteria must be considered when underwriting a transaction. The underwriting officer is responsible for summarizing compliance with the RACs and noting exceptions. Any and all exceptions must be considered in determining whether a transaction should be recommended for approval. While there are common considerations when considering loans of all types such as credit, collateral, etc, the separate business units contain their own unique sets of risks and credit considerations. Therefore, RAC’s have been developed for each business unit for various types of transactions within those units. The following pages show the current risk acceptance criteria developed for each group. Healthcare transactions are evaluated using three sets of RACs. One for term loans, one for revolvers and one for equipment leases. For Corporate Finance, three sets of RACs have been developed. The RAC’s are for ABL, Senior Term Loans and Mezzanine/Subdebt transactions. Finally, Structured Finance has three sets of RACs, Vacation Ownership, Real Estate and Rediscount. Market Segment Healthcare service companies including Skilled Nursing Facilities, Assisted Living Facilities, Congregate Care Retirement Communities, Acute Care and Long-Term Acute Care Hospitals, Ambulatory Surgery Centers, Home Health Providers, and Mental Health Providers Borrower Size $5MM annual revenues Loan Size (hold) Minimum SIMM, maximum $55MM Geographic Region No Restrictions Borrower Recourse Normal and customary non-recourse carve-outs Interest Rate Prime or Libor Based Term Loan Maturity Up to seven years Term Loan Amortization Negotiable; Typically 25 year with balloon Use of Proceeds Business Acquisition, Real Estate Financing Collateral First Mortgage on Real Property and all available assets Loan to Value Loan to value should not exceed 80% of M.A.I, appraised value and also a multiple of underwritten cash flows. Debt Service Coverage Stabilized should support Debt Service in excess of CapitalSource Facility Appraisals Required Personal Guarantees Negotiable Evaluation of Management Must be performed by an Investment Officer and Underwriting Officer Market Segment Healthcare service companies including Skilled Nursing Facilities, Assisted Living Facilities, Congregate Care Retirement Communities, Site Maintenance Organizations, Contract Research Organizations, Acute Ca...
