GM Financial definition
Examples of GM Financial in a sentence
At the time of an origination of a Receivable by GM Financial or a Dealer, each Financed Vehicle is required to be covered by a comprehensive and collision insurance policy.
The Lien Certificate for each Financed Vehicle shows, or GM Financial has commenced procedures that will result in such Lien Certificate which will show, GM Financial named (which may be accomplished by the use of a properly registered DBA name in the applicable jurisdiction) as the original secured party under each Receivable as the holder of a first priority security interest in such Financed Vehicle.
Further, GM Financial has indicated in its computer files that the Receivables are owned by the Trust.
Each Receivable created or shall create a valid, binding and enforceable first priority security interest in favor of GM Financial in the Financed Vehicle.
Each of GM Financial and the Seller agree that the Receivables have been sold to the Trust pursuant to the Sale and Servicing Agreement and Granted to the Trust Collateral Agent pursuant to the Indenture.
Verify that the Receivable was originated by a Dealer and purchased by GM Financial.
If the Contract was originated by GM Financial, review the Receivable File and confirm GM Financial had all necessary licenses and permits as required by the State in which it was originated.
Verify the lien certificate shows or that GM Financial has commenced procedures (which may include an application of title, a dealer guaranty or other standard documentation or practices in effect at the time of origination) that will result in such Lien Certificate which will show GM Financial or a registered DBA as the original secured party under the Receivable.
If the Contract was originated by a Dealer, verify the Receivable File contains a valid Dealer Agreement between the Dealer and GM Financial.
Verify that the Receivable has an existing first priority security interest in favor of GM Financial or properly registered DBA.