Examples of Purchased Auto Loan in a sentence
The fee shall be paid at the time of notification.(b) Notice under this subsection is sufficient if it is deposited in the mail, first class, to the owner or entity filing the foreclosure action.
Defaulted Auto Loans Any Purchased Auto Loan (which is not a Disputed Auto Loan)which has (a) an amount equivalent to at least six Loan Instalments overdue as indicated in the Monthly Report for the preceding Collection Period (provided, however, that any Loan Instalment which has been deferred during a Payment Holiday shall to that extent not be treated as overdue) or (b) been written-off by the Servicer in accordance with the Credit and Collection Policy (a "Defaulted Auto Loan").
Purchased Auto Loan means, with respect to a distribution date, an auto loan purchased by the seller or the servicer on or prior to the determination date immediately preceding such distribution date.
All collections for each Collection Period with respect to each Auto Loan (other than a Purchased Auto Loan) shall be applied as follows.
Enforcement against a Debtor can only take place if, among other things, the relevant Purchased Auto Loan is in default.