Common use of No Default; Repossession Clause in Contracts

No Default; Repossession. No default, breach, violation or event permitting acceleration under the terms of any Contract has occurred (other than payments that are not more than 30 days past due), 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 Contract has arisen and no Financed Vehicle has been repossessed as of the applicable Cutoff Date.

Appears in 6 contracts

Samples: Sale and Allocation Agreement (First Investors Financial Services Group Inc), Sale and Allocation Agreement (First Investors Financial Services Group Inc), Sale and Allocation Agreement (First Investors Financial Services Group Inc)

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No Default; Repossession. No default, breach, violation or event permitting acceleration under the terms of any Contract has occurred (other than payments that are not more than 30 days past due)occurred, 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 Contract has arisen and no Financed Vehicle has been repossessed as of the applicable Cutoff Date.

Appears in 1 contract

Samples: Purchase Agreement (Carmax Auto Receivables LLC)

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No Default; Repossession. No default, breach, violation or event permitting acceleration under the terms of any Contract has occurred (other than payments that are not more than 30 days past due), 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 Contract has arisen and no Financed Vehicle has been repossessed as of the applicable Cutoff Date.

Appears in 1 contract

Samples: Sale and Allocation Agreement (First Investors Financial Services Group Inc)

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