Dealer Participation. Dealer agrees to abide by ABT's Customer -------------------- Service Standards as more fully described in Paragraph 10 below, which may be revised from time to time. Dealer shall designate one key employee to be provided instructions by ABT or its authorized agent. Should the assignment of any designated key employee change, Dealer shall notify ABT. Dealer shall be responsible for costs, if any, associated with the training of its key employees to use ABT's services. Dealer shall sign any necessary confidentiality agreements to protect ABT's rights.
Dealer Participation. At least eighty-five percent (85%) of the Dealers shall have elected to participate in the Merger transaction contemplated under the terms and provisions of the Merger Agreement.
Dealer Participation a. The Finance Company shall establish from time to time, the minimum annual percentage rate (the “buy rate”)and the maximum annual percentage rate at which the Finance Company will purchase a Contract, which rate shall be shown on the Finance Company’s rate sheet. Dealer participation, the portion of the finance charge which is paid to the Dealer, will be determined by the Finance Company from time to time, at its sole discretion. In the event that Finance Company pays Dealer an amount in Dealer Participation for a contract which exceeds the maximum amount of dealer participation which can lawfully be paid for that contract, Dealer agrees to refund the difference to Finance Company upon demand.
i. 30% of the Dealer participation will be retained by the Finance Company as a non- refundable reserve.
b. The amount or method of calculating the Dealer Participation may be changed from time to time by the Finance Company, which change shall be effective immediately upon notice to Dealer. For all Contracts which have been approved for purchase by the Finance Company prior to such notice, previous commitments will apply.
Dealer Participation. From time to time ACS may offer its general guidelines for Dealer’s compensation and reserve requirements with respect to loan and lease contracts. If within the first six (6) months from the date of the lease or loan contract a customer defaults or the contract is paid off in full, the compensation paid to the dealer must be refunded in full. ACS may amend this Agreement at any time by providing Dealer with notice, either written or electronically, specifying the amendment.
Dealer Participation. CNB agrees to pay Contract Participation to Dealer, as provided below:
Dealer Participation. During the term of this Agreement, and provided that Dealer is not in default under this Agreement, AutoForce shall allow Dealer to participate in the selected Program(s).
Dealer Participation. LCU will credit to an accounting record in respect of the dealer, the amount of the agreed upon dealer financing income participation for a contract pursuant to the participation plan as agreed to by the Dealer and an authorized signer of LCU. All amounts credited will be held no longer than 30 days from the date of the reception of the contract less any accrued charge backs. The Participation plan is paid accordance to the Participation plan which is designated on the LCU Rate sheet. Dealership will receive the entire agreed participation amount and is forgiven from any obligation to reimburse such participation amount upon payoff or termination (including repossession) of the Contract occurring more than 180 days after the date of the Contract. Payoff or termination (including repossession) of the Contract prior to expiration of such 180 day period will entitle LCU to reimbursement of the Contracts Participation plan amount. Flat reserves are not subject reimbursement. Credit Union shall from time to time specify the annualized interest rate at which LCU will purchase Contracts (such interest rate being herein called the “Buy Rate”). The Buy Rate shall be specified in the Rate Schedule, which shall be issued by the Credit Union from time to time. The Rate Schedule may show varying Buy Rates based on the creditworthiness of the purchaser. Dealer may sell Contracts to the Credit Union which have an annualized interest rate (herein called the “Contract Rate”) that is equal to, greater than or less than the then applicable Buy Rate. In the event that the Contract Rate is the different than the Buy Rate, the difference between (a) the total of payments under the Contract at the Contract Rate and (b) what the total of payments would have been under the Contract assuming the Buy Rate had been used as the annualized interest rate shall rate shall be called the “differential”. LCU may limit the amount of the differential and if it elects to do so, it will provide notice to Dealer of any such limitation, including any limitation, which shall be applicable to a purchaser who is an existing member of the Credit Union. The Dealer shall be responsible for Dealer’s proportionate share of any unearned finance charges, insurance premiums and on a pro rata basis charges for extended warranty, mechanical breakdown or comparable program whether or not this Agreement has been terminated. If at any time the dealer has not in a timely manner paid its share of the items listed,...
Dealer Participation. If the respective Dealer Buy Rate Sheet incorporates a Dealer Participation (“Participation”), Company shall, at Company’s option, pay any such Participation to Dealer either at the time of funding or by the 15th day of the following calendar month. In no event shall the amount of Participation paid on any Contract exceed the maximum (if any) permitted by applicable state law. Unless provided otherwise in the respective Dealer Buy Rate Sheet, Dealer shall reimburse Company for the Participation paid on any Contract (a) if the Contract is paid in full within 90 days following the date on which the respective Contract was funded or (b) if any vehicle securing the Contract is repossessed or subject to any legal action, the purchaser files a proceeding in bankruptcy, or debt evidenced by the Contract is charged off by the Company prior to the time the purchaser has made three full scheduled monthly payments under the Contract. Dealer shall reimburse Company within ten days from the date of demand by Company. If Dealer does not refund the Participation within ten days following demand, Company may offset the amount due from future payments due to Dealer hereunder.
Dealer Participation. Dealer may participate in iNet’s Dealer Participation Program subject to the terms and conditions set forth in the Dealer Reserve Addendum entered into between iNet and Dealer.
Dealer Participation. Dealer agrees to abide by ABT's Customer -------------------- Service Standards as more fully described in Paragraph 10 below, which may be revised from time to time by ABT. Dealer shall designate one key employee to be provided instructions by ABT or its authorized agent. Dealer shall notify ABT within ten (10) days of any change in the assignment of any designated key employee. Dealer shall be responsible for costs, if any, associated with the training of its key employees to use ABT's services. Dealer shall promptly sign any confidentiality agreements submitted by ABT to protect ABT's proprietary rights. ABT shall notify Dealer in writing of any revisions or additions to the Customer Service Standards, and such revisions shall take effect immediately upon Dealer's receipt thereof. Without limiting the generality of the foregoing, Dealer acknowledges that Auto-By-Tel will institute a financing program whereby customers may receive low-cost financing from sources provided by Auto-By-Tel through its web site (the "Financing Arrangements"). Dealer agrees with ABT that low-cost Financing Arrangements pursuant to which customers would (i) receive a financing proposal in conjunction with their receipt of a vehicle price quote, and (ii) close both the vehicle acquisition and financing quickly through Dealer, would be viewed by customers as an improvement in the Auto-By-Tel program, consequently increasing the attractiveness of the ABT program and its value to Dealer. Dealer agrees to cooperate fully with the Financing Arrangements instituted by ABT through its web site, including without limitation entering into customary closing administration arrangements with finance companies as requested by ABT, and to take such actions as reasonably requested by such finance companies or ABT to ensure that customers receive a high level of service and satisfaction in connection with the Financing Arrangements. After ABT commences the Financing Arrangements, Dealer acknowledges that changes in the Customer Services Guidelines may from time to time pertain to such Financing Arrangements.
