Common use of No Default; Repossession Clause in Contracts

No Default; Repossession. Except for payment delinquencies continuing for a period of less than 31 days as of the Initial Cutoff Date with respect to the Initial Receivables or as of the applicable Subsequent Cutoff Date with respect to Subsequent Receivables, no default, breach, violation or event permitting acceleration under the terms of any Receivable has occurred; 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 Receivable has arisen; the Seller shall not waive and has not waived any of the foregoing; and no related Financed Vehicle has been repossessed as of the Initial Cutoff Date with respect to the Initial Receivables or as of the applicable Subsequent Cutoff Date with respect to Subsequent Receivables.

No Default; Repossession. Except for payment delinquencies continuing for a period of less not more than 31 thirty days as of the Initial Cutoff Date (with respect to the Initial Receivables Receivables) or as of the applicable Subsequent Cutoff Date (with respect to the Subsequent Receivables), 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 would constitute a default, breach, violation, violation or event permitting acceleration under the terms of any Receivable has arisen; and the Seller shall not waive and has not waived any of the foregoingforegoing (except in a manner consistent with Section 4.2); and no related Financed Vehicle has shall have been repossessed as of the Initial Cutoff Date (with respect to the Initial Receivables Receivables) or as of the applicable Subsequent Cutoff Date (with respect to the Subsequent Receivables).

No Default; Repossession. Except for payment delinquencies continuing for a period of less not more than 31 thirty days as of the Initial Cutoff Date (with respect to the Initial Receivables Receivables) or as of the applicable Subsequent Cutoff Date with (wth respect to the related Subsequent Receivables), no default, breach, violation or event permitting acceleration under the terms of any Linc Receivable has 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 Linc Receivable has arisen; and the Seller shall not waive and has not waived any of the foregoing; and no related Financed Vehicle has securing a Linc Receivable shall have been repossessed as of the Initial Cutoff Date (with respect to the Initial Receivables Receivables) or as of the applicable Subsequent Cutoff Date (with respect to the related Subsequent Receivables).

No Default; Repossession. Except for payment delinquencies continuing for a period of less not more than 31 thirty days as of the Initial Cutoff Date (with respect to the Initial Receivables Receivables) or as of the applicable Subsequent Cutoff Date (with respect to the related Subsequent Receivables), 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 would constitute a default, breach, violation, or event permitting acceleration under the terms of any Receivable has arisen; and none of the Seller Seller, Samco or Linc shall not waive and none of the three has not waived any of the foregoing; and no related Financed Vehicle has shall have been repossessed as of the Initial Cutoff Date (with respect to the Initial Receivables Receivables) or as of the applicable Subsequent Cutoff Date (with respect to the related Subsequent Receivables).

No Default; Repossession. Except for payment delinquencies continuing for a period of less not more than 31 thirty days as of the Initial Cutoff Date (with respect to the Initial Receivables Receivables) or as of the applicable Subsequent Cutoff Date (with respect to the related Subsequent Receivables), 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 would constitute a default, breach, violation, violation or event permitting acceleration under the terms of any Receivable has arisen; and the Seller shall not waive and has not waived any of the foregoingforegoing (except in a manner consistent with Section 4.2); and no related Financed Vehicle has shall have been repossessed as of the Initial Cutoff Date (with respect to the Initial Receivables Receivables) or as of the applicable Subsequent Cutoff Date (with respect to the related Subsequent Receivables).