Sentences with phrase «take ownership of the collateral»

If they should fail to make payments, the lender has the right to take ownership of the collateral.

If the borrower fails to repay the loan as per the agreement, the lender may take ownership of the collateral and sell it to repay the loan.

If the borrower fails to repay the loan, the lender may take ownership of the collateral.

Not exact matches

Collateral is an asset of value the lender will take ownership of should a borrower default on a debt.