Common use of Dealer Representations and Warranties Clause in Contracts

Dealer Representations and Warranties. In order to induce XxxXx to purchase Paper, Dealer represents and warrants that: (a) Each item of Paper, related information and documents provided to XxxXx are genuine, contain the valid signatures of Buyers and Guarantors, correctly state the terms of the transaction, and are true and accurate in every material respect. (b) All signers had the legal capacity to contract at the time of their signature.‌ (c) The goods and services are truly and accurately described in the Paper and have been delivered to, together with a copy of the Paper, and willingly accepted by Xxxxx. (d) The down payments have been paid in full by Buyer without help from Dealer and were actually paid in cash or in merchandise received in trade as shown. (e) The Paper arose from the bona fide sale of the goods and services described in the Paper and is a valid and enforceable obligation of the Buyer in accordance with its terms, free of any defense, offset, counterclaim, or other fact that could impair the collectability of the Paper.‌ (f) Title to the goods and services is vested in Buyer under the Paper, and XxxXx holds a valid first lien upon the goods. (g) Title to the goods and services is not branded, nor is the title required to be branded as rebuilt, salvage, flood or other designation which may decrease the market value of the goods and services. (h) Dealer is the sole owner of the Paper and has a legal right to assign it.‌ (i) Dealer possesses all of the requisite state and other jurisdictional licenses required to engage in its business and to sell the Paper to XxxXx. (j) The Paper represents the value of the purchase of the goods and services listed on the Paper, and no agreement, unless specifically noted on the Paper, exists to provide a cash payment to Buyer either in the form of a cash rebate or the payment of Buyer’s indebtedness.‌ (k) Any holdbacks or discounts charged by XxxXx have not been passed along, charged or otherwise specifically recouped from the customer. (l) The “cash price” of the goods and services as shown on the Paper (i) represents the fair retail market value of such goods and services; (ii) is the “cash price” as defined by applicable state and federal law; (iii) was not overstated or inflated in any way, including, but not limited to, to “cover” or provide for any holdback or discount charged by XxxXx; or (iv) was not increased because the goods and services are being sold on credit, or to a member of the U.S. armed services. (m) No payments have yet been received on the balance of the purchase price as set forth in the Paper.‌ (n) No representations and warranties have been made to the Buyer other than those contained in the Paper and the Paper represents the entire agreement of Buyer and Dealer. (o) Such steps as are necessary to perfect XxxXx’x security interest in the goods have been taken within twenty (20) days from the date of the Paper. (p) The Buyer is not an employee of Dealer or a member of Dealer’s family unless clearly shown otherwise in the credit application. (q) Dealer has furnished XxxXx with copies of all disclosures required to be given to Buyer under applicable law in connection with the sale of the goods and services that are the subject of each Paper, and such disclosures and the manner in which they were given conform to all applicable laws and regulations. (r) The sales and credit transaction and the Paper arising from such sale comply with all applicable federal, state, and local laws and regulations.

Dealer Representations and Warranties. In order to induce XxxXx FinCo to purchase Paper, Dealer represents and warrants that: (a) Each item of Paper, related information and documents provided to XxxXx FinCo are genuine, contain the valid signatures of Buyers and Guarantors, correctly state the terms of the transaction, and are true and accurate in every material respect. (b) All signers had the legal capacity to contract at the time of their signature.‌signature. (c) The goods and services are truly and accurately described in the Paper and have been delivered to, together with a copy of the Paper, and willingly accepted by Xxxxx. (d) The down payments have been paid in full by Buyer without help from Dealer and were actually paid in cash or in merchandise received in trade as shown. (e) The Paper arose from the bona fide sale of the goods and services described in the Paper and is a valid and enforceable obligation of the Buyer in accordance with its terms, free of any defense, offset, counterclaim, or other fact that could impair the collectability of the Paper.‌Paper. (f) Title to the goods and services is vested in Buyer under the Paper, and XxxXx holds a valid first lien upon the goods. (g) Title to the goods and services is not branded, nor is the title required to be branded as rebuilt, salvage, flood or other designation which may decrease the market value of the goods and services. (h) Dealer is the sole owner of the Paper and has a legal right to assign it.‌it. (i) Dealer possesses all of the requisite state and other jurisdictional licenses required to engage in its business and to sell the Paper to XxxXxFinCo. (j) The Paper represents the value of the purchase of the goods and services listed on the Paper, and no agreement, unless specifically noted on the Paper, exists to provide a cash payment to Buyer either in the form of a cash rebate or the payment of Buyer’s indebtedness.‌indebtedness. (k) Any holdbacks or discounts charged by XxxXx FinCo have not been passed along, charged or otherwise specifically recouped from the customer. (l) The “cash price” of the goods and services as shown on the Paper (i) represents the fair retail market value of such goods and services; (ii) is the “cash price” as defined by applicable state and federal law; (iii) was not overstated or inflated in any way, including, but not limited to, to “cover” or provide for any holdback or discount charged by XxxXxFinCo; or (iv) was not increased because the goods and services are being sold on credit, or to a member of the U.S. armed services. (m) No payments have yet been received on the balance of the purchase price as set forth in the Paper.‌Paper. (n) No representations and warranties have been made to the Buyer other than those contained in the Paper and the Paper represents the entire agreement of Buyer and Dealer. (o) Such steps as are necessary to perfect XxxXx’x security interest in the goods have been taken within twenty (20) days from the date of the Paper. (p) The Buyer is not an employee of Dealer or a member of Dealer’s family unless clearly shown otherwise in the credit application. (q) Dealer has furnished XxxXx FinCo with copies of all disclosures required to be given to Buyer under applicable law in connection with the sale of the goods and services that are the subject of each Paper, and such disclosures and the manner in which they were given conform to all applicable laws and regulations. (r) The sales and credit transaction and the Paper arising from such sale comply with all applicable federal, state, and local laws and regulations.