Materially less favorable definition
Materially less favorable means, generally, that the cost of credit to a consumer would be significantly greater than the cost of credit to another consumer from or through the same creditor. Relevant factors in determining the significance of a difference in cost include the type of credit product, the term of the credit extension, and the extent of the difference.
Materially less favorable means that the earnings per share, on a fully diluted basis, reflected in the 1998 Financial Statements is less than $0.27, the operating income reflected in the 1998 Financial Statements is less than $3,800,000 and net debt reflected in the 1998 Financial Statements is more than $3,000,000.
Materially less favorable means, when applied to material terms, that the terms granted, extended, or otherwise provided to a consumer differ from the terms granted, extended, or otherwise provided to another consumer from or through the same individual, partnership, corporation, trust, estate, cooperative, association, government or governmental subdivision or agency, or other entity, such that the cost of credit to the first consumer would be significantly greater than the cost of credit granted, extended, or otherwise provided to the other consumer. For purposes of this definition, factors relevant to determining the significance of a difference in cost include the type of credit product, the term of the credit extension, if any, and the extent of the difference between the material terms granted, extended, or otherwise provided to the two consumers.
Examples of Materially less favorable in a sentence
The Buyer shall obtain and maintain, or cause the Buyer Bank to obtain and maintain, in effect for six (6) years from the Closing Date, if available, the current directors' and officers' liability insurance policies maintained by the Company or substitute policies with coverage containing terms and conditions that are not, taken as a whole, Materially less favorable to the insured with respect to matters occurring prior to the Effective Time.
More Definitions of Materially less favorable
Materially less favorable means a proposed lease in which the proposed effective rental rate is less than ninety percent (90%) of the effective rental rate set forth in the First Refusal Notice.