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

Collecting Title Documents Not Delivered at the Closing Date. In the case of any Contract in respect of which, in place of a Title Document, the Custodian received on the Closing Date written evidence from the Dealer selling the related Financed Vehicle that, or otherwise in respect of which, the Title Document for such Financed Vehicle showing Onyx or a subsidiary of Onyx as first lienholder has been applied for from the Registrar of Titles, the Servicer shall use its best efforts to collect (or in the case of California, to obtain evidence in the electronic title records of) such Title Document from the Registrar of Titles as promptly as possible. If such Title Document showing Onyx or a subsidiary of Onyx as first lienholder is not received by the Servicer (or in the case of the State of California, verified by the Servicer in the electronic title records) within 180 days after the Closing Date with respect to the Contracts, then the representation and warranty in Section 2.02(b)(iii) as to such Contracts in respect of such Contract shall be deemed to have been incorrect in a manner that materially and adversely affects the Certificateholders, and the Seller shall be obligated to repurchase such Contract in accordance with Section 2.03.

Collecting Title Documents Not Delivered at the Closing Date. In the case of any Contract in respect of which, in place of a Title Document, the Custodian received on the Closing Date written evidence from the Dealer selling the related Financed Vehicle thatVehicle, or otherwise in respect of whichfrom Onyx, that the Title Document for such Financed Vehicle showing Onyx or a subsidiary of Onyx as first lienholder has been applied for from the Registrar of Titles, the Servicer shall use its best efforts to collect (or in the case of California, to obtain evidence in the electronic title records of) such Title Document from the Registrar of Titles as promptly as possible. If such Title Document showing Onyx or a subsidiary of Onyx as first lienholder is not received by the Servicer (or in the case of the State of California, verified by the Servicer in the electronic title records) within 180 days after the Closing Date with respect to the Contracts, then the representation and warranty in Section 2.02(b)(iii) as to such Contracts in respect of such Contract shall be deemed to have been incorrect in a manner that materially and adversely affects the Certificateholders, and the Seller shall be obligated to repurchase such Contract in accordance with Section 2.03.

Collecting Title Documents Not Delivered at the Closing Date. In the case of any Contract in respect of which, in place of a Title Document, the Custodian Trustee received on the Closing Date written evidence from the Dealer selling the related Financed Vehicle thatVehicle, or otherwise in respect of whichfrom Onyx, that the Title Document for such Financed Vehicle showing Onyx or a subsidiary of Onyx as first lienholder has been applied for from the Registrar of Titles, the Servicer shall use its best efforts to collect (or or, in the case of the State of California, to obtain evidence in the electronic title records of) such Title Document from the Registrar of Titles as promptly as possible. If such Title Document showing Onyx or a subsidiary of Onyx as first lienholder is not received by the Servicer (or or, in the case of the State of California, verified by the Servicer in the electronic title records) within 180 days after the Closing Date with respect to the Contracts, then the representation and warranty in Section 2.02(b)(iii2.2(b)(iii) as to such Contracts in respect of such Contract shall be deemed to have been incorrect in a manner that materially and adversely affects the Certificateholders, Certificateholders and the Seller shall be obligated to repurchase such Contract in accordance with Section 2.032.3.

Collecting Title Documents Not Delivered at the Closing Date. In the case of any Contract in respect of which, in place of a Title Document, the Custodian Owner Trustee received on the Closing Date written evidence from the Dealer selling the related Financed Vehicle thatVehicle, or otherwise in respect of whichfrom Onyx, that the Title Document for such Financed Vehicle showing Onyx or a subsidiary of Onyx as first lienholder has been applied for from the Registrar of Titles, the Servicer shall use its best efforts to collect (or in the case of California, to obtain evidence in the electronic title records of) such Title Document from the Registrar of Titles as promptly as possible. If such Title Document showing Onyx or a subsidiary of Onyx as first lienholder is not received by the Servicer (or in the case of the State of California, verified by the Servicer in the electronic title records) within 180 days after the Closing Date with respect to the Contracts, then the representation and warranty in Section 2.02(b)(iii3.01(b)(iii) as to such Contracts in respect of such Contract shall be deemed to have been incorrect in a manner that materially and adversely affects the Certificateholders, and the Seller shall be obligated to repurchase such Contract in accordance with Section 2.03.3.02. ARTICLE FOUR