Liens in Force. Except as contemplated by this Agreement or to the extent required by law or court order, the Servicer shall not release in whole or in part any Financed Vehicle from the security interest securing the related Receivable except (a) in the event of payment in full by or on behalf of the Obligor thereunder or payment in full less a deficiency which the Servicer would not attempt to collect in accordance with its Customary Servicing Practices, (b) in connection with repossession or (c) except as may be required by an insurer in order to receive proceeds from any Insurance Policy covering such Financed Vehicle.
Appears in 98 contracts
Samples: Sale and Servicing Agreement (Toyota Auto Receivables 2025-a Owner Trust), Sale and Servicing Agreement (Toyota Auto Receivables 2025-a Owner Trust), Sale and Servicing Agreement (Toyota Auto Receivables 2024-D Owner Trust)
Liens in Force. Except as contemplated by this Agreement or to the extent required by law or court order, the The Servicer shall will not release the Financed Vehicle securing any Receivable from the security interest granted by such Receivable in whole or in part any Financed Vehicle from the security interest securing the related Receivable except (ai) in the event of payment in full by or on behalf of the Obligor thereunder or payment in full less a deficiency which the Servicer would not attempt to collect in accordance with its Customary Servicing Practicescustomary servicing practices, (bii) in connection with repossession and sale of the Financed Vehicle or (ciii) except as may be required by an insurer in order to receive proceeds from any Insurance Policy covering such Financed Vehicle.;
Appears in 77 contracts
Samples: Sale and Servicing Agreement (Hyundai Auto Receivables Trust 2025-A), Sale and Servicing Agreement (Hyundai Auto Receivables Trust 2024-C), Sale and Servicing Agreement (Hyundai Auto Receivables Trust 2024-C)
Liens in Force. Except as contemplated by this Agreement or to the extent required by law or court order, the Servicer shall not release in whole or in part any Financed Vehicle from the security interest securing the related Receivable except (a) in the event of payment in full by or on behalf of the Obligor thereunder or payment in full less a deficiency which the Servicer would not attempt to collect in accordance with its Customary Servicing Practicescustomary servicing procedures, (b) in connection with repossession or (c) except as may be required by an insurer in order to receive proceeds from any Insurance Policy covering such Financed Vehicle.
Appears in 12 contracts
Samples: Sale and Servicing Agreement (Toyota Auto Receivables 2011-a Owner Trust), Sale and Servicing Agreement (Toyota Auto Receivables 2011-a Owner Trust), Sale and Servicing Agreement (Toyota Auto Receivables 2010-C Owner Trust)
Liens in Force. Except as contemplated by this Agreement or to the extent required by law or court order, the The Servicer shall not release in whole or in part any Financed Vehicle from the security interest securing the related Receivable except (a) in the event of payment in full by or on behalf of the Obligor thereunder or payment in full less a deficiency amount which the Servicer would not attempt to collect in accordance with its Customary Servicing Practices, (b) the standard of care set forth in Section 3.1 or in connection with repossession repossession, or (c) except as may be required by an insurer in order to receive proceeds from any Insurance Policy covering such Financed Vehicle.
Appears in 1 contract
Samples: Servicing Agreement (Banc of America Securities Auto Trust 2005-Wf1)