Common use of Re-Xxxxxxx Clause in Contracts

Re-Xxxxxxx. Upon the occurrence of a Re-Xxxxxxx Trigger, the Note Insurer may instruct the Indenture Trustee and the Servicer to take or cause to be taken such actions as may, in the judgment of the Note Insurer or its counsel, be necessary to perfect or re-perfect the security interests in the Financed Vehicles in the name of the Indenture Trustee by amending the title documents relating to such Financed Vehicles or by such other reasonable means as may, in the judgment of the Note Insurer or its counsel, be necessary or prudent. The Indenture Trustee and the Servicer shall take or cause to be taken such actions. COAF hereby agrees to reimburse the Indenture Trustee for all Re-Xxxxxxx Expenses related to such perfection or re-perfection and to take all action necessary therefor, including the preparation, execution and delivery of all such documents as may be requested by the Indenture Trustee or the Servicer in connection therewith. In addition, as provided in Section 5.05(c) of the Indenture, the Indenture Trustee shall be entitled to be reimbursed for Re-Xxxxxxx Expenses incurred in connection with taking or causing to be taken such actions, to the extent not paid by the Servicer. On the Closing Date, the Servicer shall grant to the Indenture Trustee an irrevocable power of attorney, pursuant to which the Servicer shall appoint the Indenture Trustee as its attorney-in-fact, such appointment being coupled with an interest, to take any and all steps required to be performed by it pursuant to this Section 2.27 including execution of certificates of title or any other documents in the name and stead of the Servicer. If at any time a Person other than COAF becomes the Servicer, COAF shall grant to such Successor Servicer, promptly after its appointment as such, a power of attorney as described in the preceding sentence.

Re-Xxxxxxx. Upon the occurrence of a Re-Xxxxxxx Trigger, the Note Insurer may instruct the Indenture Trustee and the Servicer to take or cause to be taken such actions as may, in the judgment of the Note Insurer or its counsel, be necessary to perfect or re-perfect the security interests in the Financed Vehicles in the name of the Indenture Trustee by amending the title documents relating to such Financed Vehicles or by such other reasonable means as may, in the judgment of the Note Insurer or its counsel, be necessary or prudent. The Indenture Trustee and the Servicer shall take or cause to be taken such actions. COAF hereby agrees to reimburse actions and the Indenture Trustee for all fees and expenses arising as a result of the occurrence of a Re-Xxxxxxx Expenses Trigger related to such perfection or re-perfection shall be reimbursed as provided in Section 3.5(d)(viii) of the Sale and Allocation Agreement. The Servicer agrees to take all action necessary therefor, including the preparation, execution and delivery of all such documents as may be requested by the Indenture Trustee or the Servicer Insurer in connection therewith. In addition, as provided in Section 5.05(c) of the Indenture, the Indenture Trustee shall be entitled to be reimbursed for Re-Xxxxxxx Expenses incurred in connection with taking or causing to be taken such actions, to the extent not paid by the Servicer. On the Closing Date, the The Servicer shall grant to the Indenture Trustee Successor Servicer an irrevocable power of attorney, pursuant to which the Servicer shall appoint the Indenture Trustee Successor Servicer as its attorney-in-fact, such appointment being coupled with an interest, to take any and all steps required to be performed by it pursuant to this Section 2.27 including execution of certificates of title or any other documents in the name and stead of the Servicer. If at any time a Person other than COAF First Investors Servicing Corporation becomes the Servicer, COAF First Investors Servicing Corporation shall grant to such Successor Servicer, promptly after its appointment as such, a power of attorney as described in the preceding sentence.