Common use of No Defects Clause in Contracts

No Defects. Each Financed Vehicle was properly delivered to the Obligor in good repair, without defects and in satisfactory order. Each Financed Vehicle was accepted by the Obligor after reasonable opportunity to inspect and test such Financed Vehicle and no Obligor has informed the Seller of any defect therein.

Appears in 6 contracts

Samples: Sale and Servicing Agreement (Santander Drive Auto Receivables Trust 2007-2), Sale and Servicing Agreement (Santander Drive Auto Receivables Trust 2007-1), Sale and Servicing Agreement (Drive Auto Receivables LLC)

AutoNDA by SimpleDocs

No Defects. Each Financed Vehicle was properly delivered to the Obligor in good repair, without defects and in satisfactory order. Each Financed Vehicle was accepted by the Obligor after reasonable opportunity to inspect and test such Financed Vehicle and no Obligor has informed the Seller Originator of any defect therein.

Appears in 5 contracts

Samples: Contribution Agreement (Santander Drive Auto Receivables Trust 2007-3), Contribution Agreement (Drive Auto Receivables LLC), Contribution Agreement (Santander Drive Auto Receivables Trust 2007-1)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!