Common use of Contracts in Force Clause in Contracts

Contracts in Force. The Contract has not been pledged, encumbered, satisfied, subordinated, waived, restricted, rescinded, or held to be invalid or unenforceable, and the Financed Vehicle has not been released from the lien granted by the Contract in whole or in part nor has the Financed Vehicle been damaged to such degree that materially affects the value of the Financed Vehicle since the date of sale of the Financed Vehicle to Obligor.

Contracts in Force. The Contract has not been pledged, encumbered, satisfied, subordinated, waived, restricted, rescinded, rescinded or held to be invalid or unenforceable, and the Financed Vehicle has not been released from the lien granted by the Contract in whole or in part nor has the Financed Vehicle been damaged to such degree that materially affects the value of the Financed Vehicle since the date of sale of the Financed Vehicle to Obligor.