Common use of Collecting Title Documents Not Delivered at the Closing Date Clause in Contracts

Collecting Title Documents Not Delivered at the Closing Date. (a) If the Title Document for a Financed Vehicle does not reflect the Company as lienholder at the time of the Company's purchase direct from a Dealer of the related Contract, the Servicer shall confirm, prior to the Company's purchase, that an appropriate application has been made to transfer the lien on the Title Document to the Company. If the Title Document for a Financed Vehicle reflects the Servicer as lienholder at the time of the Company's purchase of the related Contract, the Servicer shall, in connection with the Company's purchase, make an appropriate application to transfer the lien on the Title Document to the Company. (b) In the case of any Contract in respect of which the Title Document for the related Financed Vehicle showing the Servicer as first lienholder has been applied for in connection with the purchase of the Contract, the Servicer shall use reasonable efforts to obtain such Title Document and promptly upon receipt thereof to make application for the transfer of the lien noted thereon to the Company. In the case of any Contract in respect of which the Title Document for the related Financed Vehicle showing the Company as first lienholder has been applied for in connection with the purchase of the Contract or thereafter, the Servicer shall use reasonable efforts to obtain such Title Document and to deliver it to the Company (or other Person appointed as custodian for the Contract Documents) as promptly as possible. If such Title Document showing the Company as first lienholder is not received by the Company (or custodian) within 120 days after the Purchase Date, then the representation and warranty in Section 12.16 in respect of such Contract shall be deemed to have been incorrect in a manner that materially and adversely affects the Holders. (c) The Servicer shall deliver to the Trustee on a monthly basis a listing of Contracts which as of the date prior to such delivery do not show the Servicer or the Company as first lienholder on the Title Documents for such Contracts. (d) Any fees charged for the transfer of liens on the Title Documents for the Financed Vehicles into or out of the Company's name shall be paid by the Company as an Allowed Expense.

Collecting Title Documents Not Delivered at the Closing Date. (a) If the Title Document for a Financed Leased Vehicle does not reflect the Company Buyer as owner and first lienholder and the Trustee as second lienholder at the time of the CompanyBuyer's purchase direct from a Dealer of the related ContractLeased Vehicle, the Servicer shall confirm, prior to the CompanyBuyer's purchase, that an appropriate application has been made to transfer the lien on title of the Title Document to the Company. If the Buyer with such Title Document for a Financed Vehicle reflects reflecting the Servicer Buyer as owner and first lienholder at and the time of the Company's purchase of the related Contract, the Servicer shall, in connection with the Company's purchase, make an appropriate application to transfer the lien on the Title Document to the Company. (b) Trustee as second lienholder. In the case of any Contract in respect of which the Title Document for the related Financed Leased Vehicle showing the Servicer Buyer as owner and first lienholder and the Trustee as second lienholder has been applied for in connection with the purchase of the Contract, the Servicer shall use reasonable efforts to obtain such Title Document and promptly upon receipt thereof to make application for the transfer of the lien ownership noted thereon to the CompanyBuyer and the second lien in favor of the Trustee. In the case of any Contract in respect of which the Title Document for the related Financed Leased Vehicle showing the Company Buyer as owner and first lienholder and the Trustee as second lienholder has been applied for in connection with the purchase of the Contract or thereafter, the Servicer shall use reasonable efforts to obtain such Title Document and to deliver it to the Company Trustee (or other Person financial institution appointed as custodian for the Contract Documents) as promptly as possible. If such Title Document showing the Company Buyer as owner and first lienholder and Trustee as second lienholder is not received by the Company Trustee (or other custodian) within 120 30 days after the Purchase Date, then the representation and warranty in Section 12.16 4.4 of the Indenture in respect of such Contract shall be deemed to have been incorrect in a manner that materially and adversely affects the Holders. (c) Security holders. The Servicer shall deliver to the Trustee on a monthly basis a listing of Contracts which that as of the date prior to such delivery do not show the Servicer or Buyer as owner and first lienholder and the Company Trustee as first second lienholder on the Title Documents for such Contracts. (d) Any fees charged for the transfer of liens on the Title Documents for the Financed Vehicles into or out of the Company's name shall be paid by the Company as an Allowed Expense.

Collecting Title Documents Not Delivered at the Closing Date. (a) If the Title Document for a Financed Leased Vehicle does not reflect the Company Buyer as owner and first lienholder and the Trustee as second lienholder at the time of the CompanyBuyer's purchase direct from a Dealer of the related ContractLeased Vehicle, the Servicer shall confirm, prior to the CompanyBuyer's purchase, that an appropriate application has been made to transfer the lien on title of the Title Document to the Company. If the Buyer with such Title Document for a Financed Vehicle reflects reflecting the Servicer Buyer as owner and first lienholder at and the time of the Company's purchase of the related Contract, the Servicer shall, in connection with the Company's purchase, make an appropriate application to transfer the lien on the Title Document to the Company. (b) Trustee as second lienholder. In the case of any Contract in respect of which the Title Document for the related Financed Leased Vehicle showing the Servicer Buyer as owner and first lienholder and the Trustee as second lienholder has been applied for in connection with the purchase of the Contract, the Servicer shall use reasonable efforts to obtain such Title Document and promptly upon receipt thereof to make application for the transfer of the lien ownership noted thereon to the CompanyBuyer and the second lien in favor of the Trustee. In the case of any Contract in respect of which the Title Document for the related Financed Leased Vehicle showing the Company Buyer as owner and first lienholder and the Trustee as second lienholder has been applied for in connection with the purchase of the Contract or thereafter, the Servicer shall use reasonable efforts to obtain such Title Document and to deliver it to the Company Trustee (or other Person financial institution appointed as custodian for the Contract Documents) as promptly as possible. If such Title Document showing the Company Buyer as owner and first lienholder and Trustee as second lienholder is not received by the Company Trustee (or other custodian) within 120 30 days after the Purchase Date, then the representation and warranty in Section 12.16 4.4 of the Indenture in respect of such Contract shall be deemed to have been incorrect in a manner that materially and adversely affects the Holders. (c) Securityholders. The Servicer shall deliver to the Trustee on a monthly basis a listing of Contracts which that as of the date prior to such delivery do not show the Servicer or Buyer as owner and first lienholder and the Company Trustee as first second lienholder on the Title Documents for such Contracts. (d) . Any fees charged for the transfer of ownership or liens on the Title Documents for the Financed Leased Vehicles into or out of the CompanyBuyer's name or Trustee's name, as appropriate, shall be paid by the Company Buyer as an Allowed Expense.

Collecting Title Documents Not Delivered at the Closing Date. (a) If the Title Document for a Financed Vehicle does not reflect the Company as lienholder at the time of the Company's purchase direct from a Dealer of the related Contract, the Servicer shall confirm, prior to the Company's purchase, that an appropriate application has been made to transfer the lien on the Title Document to the Company. If the Title Document for a Financed Vehicle reflects the Servicer as lienholder at the time of the Company's purchase of the related Contract, the Servicer shall, in connection with the Company's purchase, make an appropriate application to transfer the lien on the Title Document to the Company. (b) In the case of any Contract in respect of which the Title Document for the related Financed Vehicle showing the Servicer as first lienholder has been applied for in connection with the purchase of the Contract, the Servicer shall use reasonable efforts to obtain such Title Document and promptly upon receipt thereof to make application for the transfer of the lien noted thereon to the Company. In the case of any Contract in respect of which the Title Document for the related Financed Vehicle showing the Company as first lienholder has been applied for in connection with the purchase of the Contract or thereafter, the Servicer shall use reasonable efforts to obtain such Title Document and to deliver it to the Company (or other Person appointed as custodian for the Contract Documents) as promptly as possible. If such Title Document showing the Company as first lienholder is not received by the Company (or custodian) within 120 days after the Purchase Date, then the representation and warranty in Section 12.16 in respect of such Contract shall be deemed to have been incorrect in a manner that materially and adversely affects the Holders. (c) The Servicer shall deliver to the Trustee on a monthly basis a listing of Contracts which as of the date prior to such delivery do not show the Servicer or the Company as first lienholder on the Title Documents for such Contracts. (d) Any fees charged for the transfer of liens on the Title Documents for the Financed Vehicles into or out of the Company's name shall be paid by the Company as an Allowed Expense.

Collecting Title Documents Not Delivered at the Closing Date. (a) If the Title Document for a Financed Leased Vehicle does not reflect the Company Buyer as owner and first lienholder and the Trustee as second lienholder at the time of the CompanyBuyer's purchase direct from a Dealer of the related ContractLeased Vehicle, the Servicer shall confirm, prior to the CompanyBuyer's purchase, that an appropriate application has been made to transfer the lien on title of the Title Document to the Company. If the Buyer with such Title Document for a Financed Vehicle reflects reflecting the Servicer Buyer as owner and first lienholder at and the time of the Company's purchase of the related Contract, the Servicer shall, in connection with the Company's purchase, make an appropriate application to transfer the lien on the Title Document to the Company. (b) Trustee as second lienholder. In the case of any Contract in respect of which the Title Document for the related Financed Leased Vehicle showing the Servicer Buyer as owner and first lienholder and the Trustee as second lienholder has been applied for in connection with the purchase of the Contract, the Servicer shall use reasonable efforts to obtain such Title Document and promptly upon receipt thereof to make application for the transfer of the lien ownership noted thereon to the CompanyBuyer and the second lien in favor of the Trustee. In the case of any Contract in respect of which the Title Document for the related Financed Leased Vehicle showing the Company Buyer as owner and first lienholder and the Trustee as second lienholder has been applied for in connection with the purchase of the Contract or thereafter, the Servicer shall use reasonable efforts to obtain such Title Document and to deliver it to the Company Trustee (or other Person financial institution appointed as custodian for the Contract Documents) as promptly as possible. If such Title Document showing the Company Buyer as owner and first lienholder and Trustee as second lienholder is not received by the Company Trustee (or other custodian) within 120 30 days after the Purchase Date, then the representation and warranty in Section 12.16 4.4 of the Indenture in respect of such Contract shall be deemed to have been incorrect in a manner that materially and adversely affects the Holders. (c) Security holders. The Servicer shall deliver to the Trustee on a monthly basis a listing of Contracts which that as of the date prior to such delivery do not show the Servicer or Buyer as owner and first lienholder and the Company Trustee as first second lienholder on the Title Documents for such Contracts. (d) . Any fees charged for the transfer of ownership or liens on the Title Documents for the Financed Leased Vehicles into or out of the CompanyBuyer's name or Trustee's name, as appropriate, shall be paid by the Company Buyer as an Allowed Expense.