Common use of No Default; Repossession Clause in Contracts

No Default; Repossession. Except for payment delinquencies continuing for a period of not more than twenty-nine days (calculated on the basis of a 360-day year of twelve 30-day months), as of the Subsequent Cutoff Date, no default, breach, violation or event permitting acceleration under the terms of any Subsequent Receivable has occurred and not been cured; and no continuing condition that with notice or the lapse of time would constitute a default, breach, violation, or event permitting acceleration under the terms of any Subsequent Receivable has arisen; and LBAC shall not waive and has not waived any of the foregoing; and no Financed Vehicle shall have been repossessed as of the Subsequent Cutoff Date.

No Default; Repossession. Except for payment delinquencies defaults continuing for a period of not more than twenty-nine thirty (30) days (calculated on the basis of a 360-day year of twelve 30-day months), as of the Subsequent Cutoff DateDate or the failure of the Obligor to maintain satisfactory physical damage insurance covering the Financed Vehicle, no default, breach, violation violation, or event permitting acceleration under the terms of any Subsequent Receivable has occurred and not been curedshall have occurred; and no continuing condition that with notice or the lapse of time or both would constitute a default, breach, violation, or event permitting acceleration under the terms of any Subsequent Receivable has shall have arisen; and LBAC the Seller shall not waive and has not have waived any of the foregoing; and no Financed Vehicle shall have been repossessed as of the Subsequent Cutoff Date.

No Default; Repossession. Except for payment delinquencies defaults continuing for a period of not more than twenty-nine thirty (30) days (calculated on the basis of a 360-day year of twelve 30-day months), as of the Subsequent Cutoff DateDate or the failure of the Obligor to maintain satisfactory physical damage insurance covering the Financed Vehicle, no default, breach, violation violation, or event permitting acceleration under the terms of any Subsequent Receivable has occurred and not been curedshall have occurred; and no continuing condition that with notice or the lapse of time would constitute a default, breach, violation, or event permitting acceleration under the terms of any Subsequent Receivable has shall have arisen; and LBAC the Seller shall not waive and has not have waived any of the foregoing; and no Financed Vehicle shall have been repossessed as of the Subsequent Cutoff Date.

No Default; Repossession. Except for payment delinquencies continuing for a period of not more than twenty-nine days (calculated on the basis of a 360-day year of twelve 30-day months), as of the Subsequent Cutoff Date, no default, breach, violation or event permitting acceleration under the terms of any Subsequent Receivable has occurred and not been cured; and no continuing condition that with notice or the lapse of time would constitute a default, breach, violation, or event permitting acceleration under the terms of any Subsequent Receivable has arisen; and LBAC Triad shall not waive and has not waived any of the foregoing; and no Financed Vehicle shall have been repossessed as of the Subsequent Cutoff Date.

No Default; Repossession. Except for payment delinquencies defaults continuing for a period of not more than twenty-nine ninety (30) days (calculated on the basis of a 360-day year of twelve 30-day months), as of the Subsequent Cutoff DateDate or the failure of the Obligor to maintain satisfactory physical damage insurance covering the Financed Vehicle, no default, breach, violation violation, or event permitting acceleration under the terms of any Subsequent Receivable has occurred and not been curedshall have occurred; and no continuing condition that with notice or the lapse of time would constitute a default, breach, violation, or event permitting acceleration under the terms of any Subsequent Receivable has shall have arisen; and LBAC the Seller shall not waive and has not have waived any of the foregoing; and no Financed Vehicle shall have been repossessed as of the Subsequent Cutoff Date.

No Default; Repossession. Except for payment delinquencies continuing for a period of not more than twenty-nine days (calculated on the basis of a 360-day year of twelve 30-day months), as of the Subsequent Cutoff Date, no default, breach, violation or event permitting acceleration under the terms of any Subsequent Receivable has occurred and not been cured; and no continuing condition that with notice or the lapse of time would constitute a default, breach, N-8 violation, or event permitting acceleration under the terms of any Subsequent Receivable has arisen; and LBAC shall not waive and has not waived any of the foregoing; and no Financed Vehicle shall have been repossessed as of the Subsequent Cutoff Date.