Forced Placed Insurance Sample Clauses

Forced Placed Insurance. The related Contract is not subject to a forced placed insurance policy on the related Financed Vehicle.
Sample 1
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Forced Placed Insurance. To establish a line of credit with AFC the dealer is required to insure all collateral against risks. The dealer shall provide AFC with copies of its current policies of insurance yearly that include; Comprehensive and Collision coverage and physical damage coverage for a limit of not less than 50% of their approved credit line. AFC must also be named as the Loss Payee on all policies (unless a lesser amount is agreed to by the Credit Department or Credit Committee). If a dealer does not provide AFC with the required insurance documentation within a specified timeframe the dealer will automatically be enrolled in AFC’s Vehicle Inventory Protection (VIP) Program. The dealer also has the opportunity to voluntarily sign-up for the VIP insurance program. [*] [*] [*] [*] [*] [*] [*] [*] [*] [*] [*] [*] [*] Third Amended and Restated Receivables Purchase Agreement dated as of , 200 among AFC FUNDING CORPORATION as Seller, AUTOMOTIVE FINANCE CORPORATION, as Servicer, FAIRWAY FINANCE COMPANY, LLC and MONTEREY FUNDING as Purchasers, and BMO Capital Markets and Deutsche Bank as Initial Agents A. Purchase Limit Purchase Limit % B. Aggregate Investment Amount (Excludes Cash Wired from [*]) C. Aggregate Loss Reserve Calculation
Sample 1
Forced Placed Insurance. To establish a line of credit with AFC the dealer is required to insure all collateral against risks. The dealer shall provide AFC with copies of its current policies of insurance yearly that include; unlimited “driveway” coverage and physical damage coverage for a limit of not less than 50% of their approved credit line. [ * ] AFC - CREDIT POLICY If a dealer does not provide AFC with the required insurance documentation within a specified timeframe the dealer will automatically be enrolled in AFC’s Vehicle Inventory Protection (VIP) Program. The dealer also has the opportunity to voluntary enrol in the VIP insurance program. [*] [*] [*] [*] [*] [*] [*] [*] $ Amount Requested: AFC Automotive Finance Corporation AN ALLETE COMPANY Business/Dealer Information CONFIDENTIAL DEALER APPLICATION Company Legal Name: (if DBA, list full company name and DBA name): o Corporation Partnership Sole Proprietorship DBA Federal ID #: Sales Tax # : Years in Business: Dealer License #: Expiration Date: Previously applied with AFC? q Yes q No Officer/Owner Information Officer/Owner Name: Title: Home Address: City: State: Zip Code: Own Rent Home Phone: SSN#: DOB: Driver’s Lic #: State: Expires: Email Address: Mobile #: Are you currently active in the daily operations of the business? Yes No Are you a US Citizen? Yes No Officer/Owner Name: Title: Miscellaneous Information Business Bank: Account #: Trade Creditors 1. Name: Phone: Phone: Auction References 1. Name: Phone: 2. Name: Phone: Other Floorplan Sources 1. Name: Phone: Insurance Information Agent Name: Phone: Dealership information Home Address: o Full Coverage Liability Only Other Valued Products & Services Please check the appropriate boxes to receive more information or visit us online at wxx.XXXXXXXXX.xxx! Street Address: City: State: Zip Code: El Own q Rent Home Phone: SSN#: DOB: Driver’s Lic: State: Expires: Email Address: Mobile #: Are you currently active in the daily operations of the business? Yes No City: Li Autoot - Manage your AFC account online State: Zip Code: Phone #: Mro21 - Dealer software solutions. Special Finance, BHPH, Quick Quote, inventory management and more! Motorcycle Floorplan - Designed for motorcycle dealers to purchase new and used cycles. Rental Floorplan - Extended terms for daily rental operations. Salvage Floorplan - Special terms & rates for salvage units. Sub-Prime - Available in select markets. Immediate credit decisions for your customers. VIP Insurance- Physical damage insurance cove...
Sample 1
Forced Placed Insurance. In the event of any failure by Contractor to comply with the provisions of this Section, Owner may, without in any way compromising or waiving any right or remedy at law or in equity, on notice to Contractor, purchase such insurance, at Contractor's expense, provided that Owner shall have no obligation to do so and if Owner shall do so, Contractor shall not be relieved of or excused from the obligation to obtain and maintain such insurance amounts and coverages.
Sample 1
Forced Placed Insurance. To establish a line of credit with AFC the dealer is required to insure all collateral against risks. The dealer shall provide AFC with copies of its current policies of insurance yearly that include; Comprehensive and Collision coverage and physical damage coverage for a limit of not less than 50% of their approved credit line. [*] If a dealer does not provide AFC with the required insurance documentation within a specified timeframe the dealer will automatically be enrolled in AFC’s Vehicle Inventory Protection (VIP) Program. The dealer also has the opportunity to voluntarily sign-up for the VIP insurance program. [*] [*] [*] [*] [*] [*] [*] [*] Eligible Contracts are available upon request [*] BMO Capital Markets 000 X. XxXxxxx Street 13th Floor West Chicago, Illinois 60603 Attention: Conduit Management Deutsche Bank Securities Inc 00 Xxxx Xxxxxx 00xx Xxxxx Xxx Xxxx, XX 00000 Attn: DB Funding & Admin Ladies and Gentlemen: Reference is hereby made to the Third Amended and Restated Receivables Purchase Agreement, dated as of April 20, 2007 (as heretofore amended or supplemented, the “Receivables Purchase Agreement”), among AFC Funding Corporation (the “Seller”), Automotive Finance Corporation, as servicer (the “Servicer”), Fairway Finance Company, LLC, and Monterey Funding LLC as Purchasers and such other entities from time to time as may become purchasers thereunder, BMO Capital Markets, as Agent and Purchaser Agent for Fairway Finance Company, LLC, Deutsche Bank Securities Inc. as Agent and Purchaser Agent for Monterey Funding LLC. Capitalized terms used in this Purchase Notice and not otherwise defined herein shall have the meanings assigned thereto in the Receivables Purchase Agreement. This letter constitutes a Purchase Notice pursuant to Section 1.2(a) of the Receivables Purchase Agreement. Seller desires to sell a Participation on [insert date] for a purchase price of [insert $ amount]. Seller requests an initial Yield Period of [insert no. of days] days for such Participation. Seller hereby represents and warrants as of the date hereof, and as of the date of Purchase, as follows: (i) the representations and warranties contained in Exhibit III to the Receivables Purchase Agreement are true and correct on and as of such date of such Purchase as though made on and as of such date; (ii) no event has occurred and is continuing, or would result from such Purchase, that constitutes a Termination Event or Unmatured Termination Event; (iii) the sum of the ...
Sample 1
Forced Placed Insurance. Section 1.1
Sample 1
Forced Placed Insurance. To establish a line of credit with AFC the dealer is required to insure all collateral against risks. The dealer shall provide AFC with copies of its current policies of insurance yearly that include; unlimited "driveway" coverage and physical damage coverage for a limit of not less than 50% of their approved credit line. [ * ] 2/02 Loan Supervision 11-3 AFC - CREDIT POLICY
Sample 1
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Forced Placed Insurance. After the Cutoff Date, the Servicer shall track the compliance of each Obligor in ordinance with its customary procedures regarding the Obligor's obligation to maintain insurance coverage on the related Financed Vehicle. The Servicer shall notify each Obligor when they are not in compliance. Servicer shall not expend its own funds to pay any insurance premium or obtain or maintain any such policy and Servicer shall not "force-place" insurance.
Sample 1

Related to Forced Placed Insurance

  • Renter’s Insurance (check one)

  • FDIC Insurance For any deposit accounts you open, the FDIC requires Bank to disclose, and you hereby acknowledge, that deposits held by Evolve Bank & Trust are insured up to $250,000 federal deposit insurance limit, per depositor for each ownership category.

  • Deductibles and Self-Insurance Retentions Any deductibles or self-insured retentions must be declared to and approved by the City. The City may require the Consultant to provide proof of ability to pay losses and related investigation, claims administration and defense expenses within the deductible or self-insured retention. The deductible or self-insured retention may be satisfied by either the named insured or the City.

  • Florida Authorized Insurers All insurance shall be with insurers authorized and eligible to transact the applicable line of insurance business in the State of Florida. The Contractor shall provide Certification(s) of Insurance evidencing that all appropriate coverage is in place and showing the Department to be an additional insured.

  • Standard Hazard and Flood Insurance Policies For each Mortgage Loan (other than a Cooperative Loan), the Master Servicer shall maintain, or cause to be maintained by each Servicer, standard fire and casualty insurance and, where applicable, flood insurance, all in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. It is understood and agreed that such insurance shall be with insurers meeting the eligibility requirements set forth in the applicable Servicing Agreement and that no earthquake or other additional insurance is to be required of any Mortgagor or to be maintained on property acquired in respect of a defaulted loan, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. Pursuant to Section 4.01, any amounts collected by the Master Servicer, or by any Servicer, under any insurance policies maintained pursuant to this Section 9.16 or any Servicing Agreement (other than amounts to be applied to the restoration or repair of the property subject to the related Mortgage or released to the Mortgagor in accordance with the applicable Servicing Agreement) shall be deposited into the Collection Account, subject to withdrawal pursuant to Section 4.02. Any cost incurred by the Master Servicer or any Servicer in maintaining any such insurance if the Mortgagor defaults in its obligation to do so shall be added to the amount owing under the Mortgage Loan where the terms of the Mortgage Loan so permit; provided, however, that the addition of any such cost shall not be taken into account for purposes of calculating the distributions to be made to Certificateholders and shall be recoverable by the Master Servicer or such Servicer pursuant to Section 4.02.

  • Primary Insurance Contractor's insurance coverage shall be primary insurance with respect to the Department, its officers, officials, employees, and volunteers and shall apply separately to each project or location. Any insurance or self-insurance maintained by the Department, its officers, officials, employees, or volunteers shall be excess of Contractor's insurance and shall not contribute with it.

  • ADDITIONAL INSURED ENDORSEMENT AND PRIMARY AND NON-CONTRIBUTORY INSURANCE CLAUSE Supplier agrees to list Sourcewell and its Participating Entities, including their officers, agents, and employees, as an additional insured under the Supplier’s commercial general liability insurance policy with respect to liability arising out of activities, “operations,” or “work” performed by or on behalf of Supplier, and products and completed operations of Supplier. The policy provision(s) or endorsement(s) must further provide that coverage is primary and not excess over or contributory with any other valid, applicable, and collectible insurance or self-insurance in force for the additional insureds.

  • Maintenance of PMI Policy and/or LPMI Policy; Claims The Servicer shall comply with all provisions of applicable state and federal law relating to the cancellation of, or collection of premiums with respect to, PMI Policies, including, but not limited to, the provisions of the Homeowners Protection Act of 1998, and all regulations promulgated thereunder, as amended from time to time. With respect to each Mortgage Loan (other than LPMI Loans) with a loan to value ratio at origination in excess of 80%, the Servicer shall maintain or cause the Mortgagor to maintain (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance) in full force and effect a PMI Policy, and shall pay or shall cause the Mortgagor to pay the premium thereon on a timely basis, until the LTV of such Mortgage Loan is reduced to 80%. In the event that such PMI Policy shall be terminated, the Servicer shall obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy, at substantially the same fee level. The Servicer shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Servicer would have been covered thereunder. In connection with any assumption or substitution agreements entered into or to be entered into with respect to a Mortgage Loan, the Servicer shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Servicer shall obtain a replacement PMI Policy as provided above. The Servicer shall take all such actions as are necessary to service, maintain and administer the LPMI Loans in accordance with the LPMI Policy and to perform and enforce the rights of the insured under such LPMI Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Trust Fund to do anything it reasonably deems appropriate or desirable in connection with the servicing, maintenance and administration of the LPMI Policy. The Servicer shall not modify or assume a Mortgage Loan covered by the LPMI Policy or take any other action with respect to such Mortgage Loan which would result in non-coverage under the LPMI Policy of any loss which, but for the actions of the Servicer, would have been covered thereunder. If the LPMI Insurer fails to pay a claim under the LPMI Policy as a result of breach by the Servicer of its obligations hereunder or under the LPMI Policy, the Servicer shall be required to deposit in the Custodial Account on or prior to the next succeeding Remittance Date an amount equal to such unpaid claim from its own funds without any right to reimbursement from the Trust Fund. The Servicer shall cooperate with the LPMI Insurer and the Master Servicer and shall use its best efforts to furnish all reasonable aid, evidence and information in the possession of the Servicer to which the Servicer has access with respect to any LPMI Loan; provided, however, notwithstanding anything to the contrary contained in any LPMI Policy, the Servicer shall not be required to submit any reports to the LPMI Insurer until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller, the Master Servicer or the LPMI Insurer to appropriately code its servicing system in accordance with the LPMI Insurer’s requirements. In connection with its activities as servicer, the Servicer agrees to prepare and present, on behalf of itself and the Trustee, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Any amounts collected by the Servicer under any PMI Policy or LPMI Policy shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.04.

  • Tenant Insurance Landlord is not liable to Tenant or any of Tenant's invitees, licensees, and/or guests for any damages not proximately caused by Landlord and Landlord will not compensate Tenant or any other person for damages proximately caused by any other source, including acts of God and nature. Tenant is therefore strongly encouraged to purchase insurance to protect Tenant, Tenant's personal property and any person on the Property for Tenant.

  • BONDS AND INSURANCE 10.1 The Contractor shall provide performance and payment bonds on forms prescribed by Owner and in accordance with the requirements set forth in the UTUGCs. The penal sum of the payment and performance bonds shall be equal to the Contract Sum. 10.2 The Contractor shall not commence work under the Agreement until it has obtained all insurance coverage as required by the UTUGCs and until evidence of the required insurance has been reviewed and approved by the Owner. Owner’s review of the insurance shall not relieve nor decrease the liability of the Contractor. 10.3 In the event that the Owner does implement an Owner Controlled Insurance Program (OCIP) for this Project, the Contractor shall refer to the OCIP specification for a complete listing of coverages provided by the OCIP. Any coverages required by the UTUGCs that is not provided through the OCIP shall be provided by the Contractor.

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