Maintenance of Physical Damage Insurance Policies. The Master Servicer shall follow its customary practices and procedures to determine whether or not each Obligor shall have maintained physical damage insurance covering the related Financed Vehicle. In the event that the Master Servicer has determined that an Obligor fails to maintain the required insurance, the Master Servicer shall treat the Obligor as being in default under the related Receivable.
Appears in 5 contracts
Samples: Sale and Servicing Agreement (Wachovia Auto Loan Owner Trust 2007-1), Sale and Servicing Agreement (Wachovia Auto Owner Trust 2006-A), Sale and Servicing Agreement (Wachovia Auto Loan Owner Trust 2008-1)
Maintenance of Physical Damage Insurance Policies. The Master Servicer shall follow its customary practices and procedures to determine whether or not each Obligor shall have maintained physical damage insurance covering the related Financed Vehicle. In the event that the Master Servicer has determined that an Obligor fails has failed to maintain the required insurance, the Master Servicer shall treat the Obligor as being in default under the related Receivable.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Wachovia Auto Owner Trust 2008-A)
