Common use of Eligible Loan Clause in Contracts

Eligible Loan. Each Receivable constitutes an "Instrument" and each Financed Vehicle constitutes "Eligible Collateral" as defined in and for purposes of the Risk Default Insurance Policy. Neither the insured under the Risk Default Insurance Policy nor any Person acting on behalf of such insured has concealed or misrepresented any material facts or circumstances regarding any matter that would serve as a basis for the Risk Default Insurer to void the Risk Default Insurance Policy.

Eligible Loan. Each Receivable covered by a Risk Default Insurance Policy constitutes an "Instrument" or "Insured Security Agreement" and each Financed Vehicle constitutes "Eligible Collateral" as defined in and for purposes of the Risk Default Insurance Policy. Neither the insured under the Risk Default Insurance Policy nor any Person acting on behalf of such insured has concealed or misrepresented any material facts or circumstances regarding any matter that would serve as a basis for the Risk Default Insurer to void the Risk Default Insurance Policy.

Eligible Loan. Each Receivable constitutes an "Instrument" or "Insured Security Agreement" and each Financed Vehicle constitutes "Eligible Collateral" as defined in and for purposes of the Risk Default Insurance Policy. Neither the insured under the Risk Default Insurance Policy nor any Person acting on behalf of such insured has concealed or misrepresented any material facts or circumstances regarding any matter that would serve as a basis for the Risk Default Insurer to void the Risk Default Insurance Policy.