Dealer Recourse definition

Dealer Recourse means, with respect to a Receivable, all recourse rights against the Dealer that originated the Receivable, and any successor Dealer, in respect of breaches of representations and warranties relating to the origination of the related Receivables and the perfection of the security interests in the related Financed Vehicles.

Dealer Recourse means, with respect to a Receivable (i) any amount paid by a Dealer or credited against a reserve established for, or held on behalf of, a Dealer in excess of that portion of finance charges rebated to the Obligor which is attributable to the Dealer's participation, if any, in the Receivable, and (ii) all recourse rights against the Dealer which originated the Receivable and any successor Dealer.

Dealer Recourse means, with respect to any Lease Agreement or the related Leased Vehicle(s), all rights arising under the related Dealer Agreement or otherwise against the Dealer that originated such Lease Agreement.

Examples of Dealer Recourse in a sentence

• The Servicer shall follow such Customary Servicing Practices and procedures as it shall deem necessary or advisable, which may include reasonable efforts to realize upon any Dealer Recourse and selling the related Financed Vehicle at public or private sale.

• The Servicer shall follow such practices and procedures as it shall deem necessary or advisable and as shall be customary and usual in its servicing of automobile receivables (including light-duty trucks), which practices and procedures may include reasonable efforts to realize upon any Dealer Recourse, selling the related Financed Vehicle at public or private sale and other actions by the Servicer in order to realize upon such a Receivable.

• The Servicer shall follow such practices and procedures as it shall deem necessary or advisable and as shall be customary and usual in its servicing of passenger car, minivan, light-duty truck and sport utility vehicle receivables, which practices and procedures may include reasonable efforts to realize upon any Dealer Recourse, selling the related Financed Vehicle at public or private sale and other actions to realize upon such a Receivable.

• The Servicer shall follow such customary and usual practices and procedures as it shall deem necessary or advisable in its servicing of comparable receivables, which may include reasonable efforts to realize upon any Dealer Recourse and selling the related Financed Vehicle at public or private sale.

• The Seller further agrees that it shall promptly deposit or cause to be deposited into the Collection Account, the Dealer Recourse Amount related to any Receivable in satisfaction of any Purchase Amount in respect of such Receivable that is due and which remains unpaid by the Seller.

More Definitions of Dealer Recourse

Dealer Recourse has the meaning specified in the Sale and Servicing Agreement.

Dealer Recourse means, with respect to any Lease, all rights arising under the related Dealer Agreement or otherwise against the Dealer which originated such Lease.

Dealer Recourse means, with respect to a Contract, all of HomePride's rights arising under the related Dealer Agreement or otherwise against the Dealer which originated such Contract.

Dealer Recourse means, with respect to a Receivable, all monies received in respect of recourse rights against the Dealer which originated the Receivable under the related Dealer Agreement and any successor to such Dealer.

Dealer Recourse means all obligations of a Dealer under any Dealer Purchase Agreement to pay monies due to a Receivable transferred thereunder becoming a defaulted Receivable, in lieu of the Seller charging the balance of such Receivable to the reserve fund thereunder.

Dealer Recourse means, with respect to a Manufactured Home --------------- Loan Contract, all of Seller's rights arising under the related Dealer Agreement or otherwise against the Dealer which originated such Manufactured Home Loan Contract.

Dealer Recourse means, with respect to a Receivable (i) any amount paid by a Dealer or credited