Losses Recourse Trigger Event

Losses Recourse Trigger Event. Any of the following events: the Seller, the Guarantor or any of Seller's or Guarantor's officers, directors, employees, Subsidiaries or Affiliates have engaged in fraudulent acts, made intentional misrepresentations, engaged in the intentional misapplication, misappropriation or conversion of funds or otherwise acted with willful misconduct, in each of the aforementioned events, in connection with the Program Documents or any Purchased Assets subject to a Transaction