Financed Asset definition

Financed Asset means any property or asset newly-purchased from a third party other than an Affiliate of Diamond Resorts Corporation.

Financed Asset means a new and used automobile, light-duty truck, motorcycle, recreational vehicle, van, minivan or sport utility vehicle, together with all accessions thereto, securing an Obligor's indebtedness under the related Contract.

Financed Asset means, as the context requires, all or any portion of the Project financed with proceeds of the Lease Agreement, as described on Exhibit C hereto.

Examples of Financed Asset in a sentence

• The Servicer shall, in accordance with its customary servicing procedures, take such steps as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Asset.

• The foregoing shall be subject to the provision that, in any case in which the Financed Asset shall have suffered damage, the Servicer shall not expend funds in connection with the repair or the repossession of such Financed Asset unless it shall determine in its discretion that such repair and/or repossession will increase the Liquidation Proceeds by an amount greater than the amount of such expenses.

• The Trustee hereby authorizes the Servicer to take such steps as are necessary to re-perfect such security interest on behalf of the Trust in the event of the relocation of a Financed Asset or for any other reason.

• Borrower hereby acknowledges and agrees that the amount of any requested Advance under the Revolving Loan shall be used exclusively for acquisition of a Financed Asset, with the terms of such transaction approved by Bank in its discretion.

• On behalf of the Trust, the Servicer shall use its best efforts, consistent with its customary servicing procedures, to repossess or otherwise convert the ownership of the Financed Asset securing any Receivable as to which the Servicer shall have determined eventual payment in full is unlikely.

More Definitions of Financed Asset

Financed Asset means any property or asset newly-purchased from a third party other than an Affiliate of DRC.

Financed Asset means an (automobile, light-duty truck), (recreational -------------- vehicle), (boat, boat motor, and accompanying travellers) together with all accessions thereto, securing an Obligor's indebtedness under the respective Receivable.

Financed Asset means a new or used [automobile, light-duty truck], [recreational vehicle], together with all accessions thereto, securing an Obligor's indebtedness under the respective Receivable.

Financed Asset means an automobile, light-duty truck together with all accessions thereto, securing an Obligor's indebtedness under the respective Receivable.

Financed Asset means either the Financed Vehicle or the Financed Spare Parts, as applicable.

Financed Asset means, with respect to each Seller and/or Borrower, individually and as applicable, all of such Seller's and/or Borrower's right, title and interest in and to the following:

Financed Asset means the Personal Property financed with proceeds of the Lease Agreement, as described on Exhibit C hereto.