Program Threshold Amount definition
Examples of Program Threshold Amount in a sentence
Company may request an increase in the Program Threshold Amount at any time by providing written notice to Bank, specifying the increased Program Threshold Amount requested and accompanied by information supporting Company’s conclusion that the proposed increased Program Threshold Amount is reasonably necessary to support the expected growth in Program volume.
Notwithstanding the foregoing, Series 1 Loans held by Bank shall not be included in the calculation of the aggregate principal balance of Loans held by Bank under this Section 6(c) relating to the Program Threshold Amount.
If, at any time, Bank reasonably anticipates that the aggregate principal balance of Loans held by Bank but excluding any Loans that are not offered by Bank for participation pursuant to the Loan Participation Agreement will exceed the Program Threshold Amount, and the Bank will not increase the Program Threshold Amount, then Bank shall immediately notify Company of its need to cease or suspend funding Loans.
Company may request an increase in the Program Threshold Amount at any time by providing written notice to Bank, specifying the increased Program Threshold Amount requested and accompanied by Company’s reasonable and good faith projections of Program volume that support the proposed increased Program Threshold Amount.
Notwithstanding the foregoing and irrespective of the PTA Decrease Notice Period, Bank may at any time decrease the Program Threshold Amount to the extent that such change is required by Applicable Laws, or to the extent that Bank determines such change is necessitated by safety and soundness concerns; provided that, in such event, Bank shall provide written notice to Company promptly after such decrease and shall use reasonable best efforts to provide notice prior to such decrease.
Notwithstanding the foregoing, Select Loans held by Bank shall not be included in the calculation of the aggregate principal balance of Loans held by Bank under this Section 6(c) relating to the Program Threshold Amount.
After such request by Company, Bank and Company shall meet and confer in good faith concerning the decrease in the Program Threshold Amount and will use reasonable efforts to meet and confer before the expiration of the PTA Decrease Notice Period.
For the avoidance of doubt, it shall be a breach of this Agreement for Company to exceed the Program Threshold Amount without obtaining Bank’s prior written consent.
After the receipt of such notice, Company may request that the parties meet and confer concerning such decrease, and upon such request, Company shall specify the Program Threshold Amount requested by Company and provide Bank with reasonable and good faith projections of Program volume that support such request.
If Company has requested an increase in the Program Threshold Amount in accordance with Section 6(c) of the Agreement and Bank has rejected such request, then any volume of Loans that exceeds the Program Threshold Amount then in effect shall be excluded from the calculations set forth in Sections (a) through (d) of this Schedule 41 and may be originated and issued by another bank without violation of the Program Agreement.