Common use of No Default; Repossession Clause in Contracts

No Default; Repossession. To the best of the Seller's knowledge, no default, breach, violation or event permitting acceleration under the terms of any Receivable has 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 Receivable has arisen, and the Seller has not waived any such event or condition.

Appears in 3 contracts

Samples: Sale and Servicing Agreement (Pooled Auto Securities Shelf LLC), Sale and Servicing Agreement (Pooled Auto Securities Shelf LLC), Sale and Servicing Agreement (Pooled Auto Securities Shelf LLC)

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No Default; Repossession. To the best of the Seller's knowledge, ------------------------ no default, breach, violation or event permitting acceleration under the terms of any Receivable has 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 Receivable has arisen, and the Seller has not waived any such event or condition.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Pooled Auto Securities Shelf LLC), Sale and Servicing Agreement (Pooled Auto Securities Shelf LLC)

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No Default; Repossession. To the best of the Seller's knowledge, no ------------------------ default, breach, violation or event permitting acceleration under the terms of any Receivable has 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 Receivable has arisen, and the Seller has not waived any such event or condition.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Pooled Auto Securities Shelf LLC)

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