Common use of Additional Servicing Covenants Clause in Contracts

Additional Servicing Covenants. The Servicer further agrees: (a) Except as permitted by the Servicing Standard, the Servicer shall not (i) release the Financed Vehicle securing each Receivable from the security interest granted by such Receivable, in whole or in part, except (x) in the event of payment in full (or within $25.00 of payment in full) by or on behalf of the Obligor thereunder or (y) upon repossession and liquidation of such Financed Vehicle, (ii) impair the rights of the Issuer in the Receivables or (iii) extend or otherwise amend the terms of any Contract (including any change to the Contract Rate applicable to any Receivable, the Principal Balance or the total number of originally scheduled due dates of any Receivable), except as provided in Sections 4.01 and 4.02; and (b) The Servicer shall not (1) create or incur, or agree to create or incur or consent to or permit in the future (upon the occurrence of a contingency or otherwise) the creation, incurrence or existence of any Lien on or restriction on transferability of any Receivable except for the Lien of the Indenture and the restrictions on transferability imposed by this Agreement or (2) other than as contemplated herein, sign or file any UCC financing statements in any jurisdiction that names HNB, the Seller, the Depositor as a debtor, and any Person other than the Seller, the Depositor, the Indenture Trustee or the Issuer as a secured party, or sign any security agreement authorizing any secured party thereunder to file any such financing statement, in each case with respect to the Receivables or any other Conveyed Assets.

Additional Servicing Covenants. The Servicer further agrees: (a) Except as permitted by the Servicing Standard, the Servicer shall not (i) release the Financed Vehicle securing each Receivable from the security interest granted by such Receivable, in whole or in part, except (x) in the event of payment in full (or within $25.00 of payment in full) by or on behalf of the Obligor thereunder or (y) upon repossession and liquidation of such Financed Vehicle, (ii) impair the rights of the Issuer in the Receivables or Receivables, (iii) extend or otherwise amend the terms of any Contract (including any change to the Contract Rate applicable to any Receivable, Receivable or (iv) modify the Principal Balance or the total number of originally scheduled due dates of any Receivable), except as provided in Sections 4.01 and 4.02; and (b) The Servicer shall not (1) create or incur, or agree to create or incur or consent to or permit in the future (upon the occurrence of a contingency or otherwise) the creation, incurrence or existence of any Lien on or restriction on transferability of any Receivable except for the Lien of the Indenture and the restrictions on transferability imposed by this Agreement or (2) other than as contemplated herein, sign or file any UCC financing statements in any jurisdiction that names HNB, the Seller, Seller or the Depositor as a debtor, and any Person other than the Seller, the Depositor, the Indenture Trustee or the Issuer as a secured party, or sign any security agreement authorizing any secured party thereunder to file any such financing statement, in each case with respect to the Receivables or any other Conveyed Assets.

Additional Servicing Covenants. The Servicer further agrees: (a) Except as permitted by the Servicing StandardStandard and as provided in Sections 4.01 and 4.02, the Servicer shall not (i) release the Financed Vehicle securing each Receivable from the security interest granted by such Receivable, in whole or in part, except (x) in the event of payment in full (or within $25.00 of payment in full) by or on behalf of the Obligor thereunder or (y) upon repossession and liquidation of such Financed Vehicle, (ii) impair the rights of the Issuer in the Receivables or (iii) extend or otherwise amend the terms of any Contract (including any change to the Contract Rate applicable to any Receivable, the Principal Balance or the total number of originally scheduled due dates of any Receivable), except as provided in Sections 4.01 and 4.02; and (b) The Servicer shall not (1) create or incur, or agree to create or incur or consent to or permit in the future (upon the occurrence of a contingency or otherwise) the creation, incurrence or existence of any Lien on or restriction on transferability of any Receivable except for the Lien of the Indenture and the restrictions on transferability imposed by this Agreement or (2) other than as contemplated herein, sign or file any UCC financing statements in any jurisdiction that names HNB, the Seller, the Depositor as a debtor, and any Person other than the Seller, the Depositor, the Indenture Trustee or the Issuer as a secured party, or sign any security agreement authorizing any secured party thereunder to file any such financing statement, in each case with respect to the Receivables or any other Conveyed Assets.