Common use of Additional Covenants of Servicer Clause in Contracts

Additional Covenants of Servicer. The Servicer shall not release the Financed Vehicle securing each Receivable from the security interest granted by such Receivable in whole or in part except in the event of payment in full by the Obligor thereunder or repossession, nor shall the Servicer impair the rights of the Securityholders in such Receivables, nor shall the Servicer amend a Receivable, except that extensions may be granted in accordance with Section 4.2.

Appears in 5 contracts

Samples: Sale and Servicing Agreement (Consumer Portfolio Services Inc), Sale and Servicing Agreement (Consumer Portfolio Services Inc), Sale and Servicing Agreement (Consumer Portfolio Services Inc)

AutoNDA by SimpleDocs

Additional Covenants of Servicer. The Servicer shall not release the Financed Vehicle securing each Receivable from the security interest granted by such Receivable in whole or in part except in the event of payment in full by the Obligor thereunder or repossession, nor shall the Servicer impair the rights of the Securityholders in such Receivables, nor shall the Servicer amend a Receivable, except that extensions and waivers may be granted in accordance with Section 4.24.

Appears in 5 contracts

Samples: Sale and Servicing Agreement (Consumer Portfolio Services Inc), Sale and Servicing Agreement (Consumer Portfolio Services Inc), Sale and Servicing Agreement (Consumer Portfolio Services Inc)

Additional Covenants of Servicer. The Servicer shall not release the Financed Vehicle securing each Receivable from the security interest granted by such Receivable in whole or in part except in the event of payment in full by the Obligor thereunder or repossession, nor shall the Servicer impair the rights of the Securityholders Certificateholders in such Receivables, nor shall the Servicer amend a Receivable, except that extensions may be granted in accordance with Section 4.23.2.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Consumer Portfolio Services Inc), Pooling and Servicing Agreement (Financial Asset Securities Corp), Pooling and Servicing Agreement (Consumer Portfolio Services Inc)

Additional Covenants of Servicer. The Servicer shall not release the Financed Vehicle securing each Receivable from the security interest granted by such Receivable in whole or in part except in the event of payment in full by the Obligor thereunder or repossessionrepossession or other liquidation of the Financed Vehicle, nor shall the Servicer impair the rights of the Securityholders Noteholder in such Receivables, nor shall the Servicer amend or otherwise modify a Receivable, except that extensions may be granted as permitted in accordance with Section 4.2SECTION 4.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Consumer Portfolio Services Inc), Sale and Servicing Agreement (Consumer Portfolio Services Inc)

Additional Covenants of Servicer. The Servicer shall not release the Financed Vehicle securing each Receivable from the security interest granted by such Receivable in whole or in part except in the event of payment in full by the Obligor thereunder or repossession, nor shall the Servicer impair the rights of the Securityholders in such Receivables, nor shall the Servicer amend a Receivable, except that extensions and waivers may be granted in accordance with Section 4.2.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Consumer Portfolio Services Inc)

AutoNDA by SimpleDocs

Additional Covenants of Servicer. The Servicer shall not release the Financed Vehicle securing each Receivable from the security interest granted by such Receivable in whole or in part except in the event of payment in full by the Obligor thereunder or repossession, nor shall the Servicer impair the rights of the Securityholders Purchaser in such Receivables, nor shall the Servicer amend a Receivable, except that extensions may be granted in accordance with Section 4.23.2.

Appears in 1 contract

Samples: Loan Purchase Agreement (Oxford Resources Corp)

Additional Covenants of Servicer. The Servicer shall not release the Financed Vehicle securing each any Receivable from the security interest granted by such Receivable in whole or in part except in the event of payment in full by the Obligor thereunder or repossessionrepossession or other liquidation of the Financed Vehicle, nor shall the Servicer impair the rights of the Securityholders Noteholders in such Receivables, nor shall the Servicer amend or otherwise modify a Receivable, except that extensions may be granted as permitted in accordance with Section 4.24.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Consumer Portfolio Services Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!