Purchased Vehicle definition

Purchased Vehicle means a vehicle to which an Auto Loan Receivable relates.
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Purchased Vehicle means a vehicle to which an Auto Loan Receivable relates. “Preliminary Initial Cut-off Date” means [November 10, 2022].
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Purchased Vehicle means a Leased Vehicle purchased by the Issuer from the Seller pursuant to a Purchase Contract, to the extent not retransferred, transferred or otherwise disposed of by or on behalf of the Issuer, including following a termination of the relevant Purchase Contract as contemplated by the Master Purchase Agreement.
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Examples of Purchased Vehicle in a sentence

  • Registered ownership of the Purchased Vehicle is initially held by the Dealer; however, beneficial title in the Purchased Vehicle is transferred to VWFSJ upon payment by VWFSJ of the purchase price of the Purchased Vehicle to the Dealer until the Obligor makes all payments due to VWFSJ under the Auto Loan Agreement.

  • Risk concerning the register of the Purchased VehiclesPursuant to the Auto Loan Agreement, the Consignment Agreement and the Dealer Agreement, when an Obligor purchases a Purchased Vehicle from a Dealer, the purchase price of the Purchased Vehicle is paid up front in full to the Dealer by VWFSJ for the benefit of the Obligor.

  • In addition, in this transaction, the ownership of the Purchase Vehicles will be transferred to the Trustee of the First Trust, for the purpose of obtaining the ratings from the Rating Agencies, and the collection of the Defaulted Receivables from the related Purchased Vehicle is not taken into account and the credit enhancement level in consideration of the above risk is set.

  • Pursuant to the Consignment Agreement, JACCS, Cedyna or the Dealer will be the registered owner of the Purchased Vehicle in general and in some limited circumstances, Obligors or VWFSJ.At the time when the Auto Loan Receivables are entrusted to the Trustee of the First Trust pursuant to the First Trust Agreement, the beneficial title to each Purchased Vehicle held by VWFSJ will also be transferred to the Trustee as security for payment of the Auto Loan Receivables.

  • Applying to the 2010 Case, if Insolvency Proceedings were commenced in relation to the Obligor of a Purchased Vehicle, there is a risk that a demand by the Trustee of the First Trust for the transfer of registered ownership of the relevant Purchased Vehicle may not be upheld.

  • If the 2017 Case applies in this transaction, even when Insolvency Proceedings were commenced in relation to any Obligor of a Purchased Vehicle, the Trustee of the First Trust may request the transfer of registered ownership of the relevant Purchased Vehicle.

  • On the Closing Date, the Issuer has made available to the Seller an Initial Issuer Advance in respect of each Purchased Vehicle together with the associated Lease Receivables forming part of the Initial Portfolio, each for an amount equal to the Present Value of the aggregate Purchase Price payable in respect of the Purchased Vehicle as calculated as at the Initial Cut-Off Date.

  • In the event the Obligor defaults on its payments under the applicable Auto Loan Agreement and JACCS or Cedyna, as guarantor, makes payments to VWFSJ, upon the performance in full of its obligations under the guarantee, beneficial title to the Purchased Vehicle will then be transferred from VWFSJ to JACCS or Cedyna, and will be held by JACCS or Cedyna until such time as JACCS’s or Cedyna's claim against the Obligor is settled or otherwise extinguished.

  • The Issuer Facility Agreement furthermore provides that upon (i) the occurrence of a Lease Early Termination Date in relation to any Lease Agreement associated with a Purchased Vehicle or (ii) the Issuer expressing a desire to prepay any Purchase Price, the associated Issuer Advance shall be immediately due and payable together with accrued interest thereon.

  • Pursuant to the Consignment Agreement, JACCS, SMBC Finance Service or the Dealer will be the registered owner of the Purchased Vehicle in general and in some limited circumstances, Obligors or VWFSJ.At the time when the Auto Loan Receivables are entrusted to the Trustee of the First Trust pursuant to the First Trust Agreement, the beneficial title to each Purchased Vehicle held by VWFSJ will also be transferred to the Trustee as security for payment of the Auto Loan Receivables.


More Definitions of Purchased Vehicle

Purchased Vehicle means a vehicle which is acquired by GAC for resale, other than a Repossessed Vehicle or a Trade-In Vehicle.
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Related to Purchased Vehicle

  • Leased Vehicle means a new or used Nissan or Infiniti automobile, sport utility vehicle, minivan or light-duty truck, together with all accessories, parts and additions constituting a part thereof, and all accessions thereto, leased to a Lessee pursuant to a Lease.

  • Used vehicle means a Vehicle other than a New Vehicle.

  • Covered Vehicle means a private passenger vehicle (including mini-vans, pickup trucks and sport utility vehicles) which is registered or rented to You during Your Trip, which is rated ¾ ton in weight or less, not used for racing, dealer services, dealer loaners, taxi, limousine, shuttle, delivery, hauling, towing, road repair service, construction service, snow removal, or as a public livery vehicle, or any other commercial use.

  • Nonroad Vehicle means a vehicle that is powered by a Nonroad Engine, fifty horsepower and greater, and that is not a Motor Vehicle or a vehicle used solely for competition, which shall include, but not be limited to, excavators, backhoes, cranes, compressors, generators, bulldozers and similar equipment, except that this terms shall not apply to horticultural maintenance vehicles used for landscaping purposes that are powered by a Nonroad Engine of sixty-five horsepower or less and that are not used in any construction program or project.

  • Off-Road Vehicle means any vehicle while it is being operated on a road not maintained by a federal, provincial, state, or local agency, not including entrance or departure ways to private property, or any vehicle which cannot be licensed to drive on a public road and is designed and manufactured primarily for off-road usage.

  • Shared vehicle means a vehicle that is available for

  • completed vehicle means a vehicle, resulting from the process of multi-stage type-approval, which meets the relevant technical requirements of this Directive;

  • Motorized Vehicle means a passenger car, station wagon, van, jeep-type automobile, truck, ambulance or any type of motorized vehicle used by municipal, provincial or federal police forces.

  • Receivables means the Accounts, Chattel Paper, Documents, Investment Property, Instruments and any other rights or claims to receive money which are General Intangibles or which are otherwise included as Collateral.

  • Shared vehicle owner means the registered owner, or a person or entity designated by the registered owner, of a vehicle made available for sharing to shared vehicle drivers through a peer-to-peer car sharing program.

  • Low-speed vehicle means any four-wheeled electrically-powered vehicle, except a motor vehicle or

  • Purchased Receivables means all those accounts, receivables, chattel paper, instruments, contract rights, documents, general intangibles, letters of credit, drafts, bankers acceptances, and rights to payment, and all proceeds thereof (all of the foregoing being referred to as "receivables"), arising out of the invoices and other agreements identified on or delivered with any Invoice Transmittal delivered by Seller to Buyer which Buyer elects to purchase and for which Buyer makes an Advance.

  • Articulated vehicle means a vehicle with three or more axles, comprising a power unit (called tractor, prime-mover etc.) and semi-trailer which is superimposed on the power unit and coupled together by means of a kingpin revolving on a turn-table and is an articulated vehicle whether automatically detachable or permanently coupled, but this definition does not apply to 2 axle log loaders.

  • Abandoned vehicle means any of the following:

  • Purchased Receivable means a Receivable purchased as of the close of business on the last day of a Collection Period by the Servicer pursuant to Sections 4.2, 4.4(c) or 4.7 or repurchased by the Seller or the Servicer pursuant to Section 3.2 or Section 10.1(a).

  • Shared vehicle driver means an individual who has been authorized to drive the

  • Purchased Property As defined in Section 2.01(a) of the Pooling Agreement.

  • Receivables Purchase Facility means any securitization facility made available to the Borrower or any of its Subsidiaries, pursuant to which receivables of the Borrower or any of its Subsidiaries are transferred to one or more SPCs, and thereafter to certain investors, pursuant to the terms and conditions of the Receivables Purchase Documents.

  • Purchased Asset means (i) with respect to any Transaction, the Eligible Asset sold by Seller to Buyer in such Transaction and (ii) with respect to the Transactions in general, all Eligible Assets sold by Seller to Buyer (other than Purchased Assets that have been repurchased by Seller).

  • Matured Vehicle as of any date means any Leased Vehicle the related Lease of which has reached its Maturity Date or has been terminated in connection with a Lessee Initiated Early Termination (and the Lessee is not in default under such Lease) or in connection with a Casualty Termination, which Leased Vehicle has been returned to the Servicer on behalf of the Titling Trust, if applicable.

  • Financed Vehicle means an automobile, light-duty truck or van, together with all accessions thereto, securing an Obligor’s indebtedness under the applicable Receivable.

  • Sold Receivable means a Receivable that was more than 60 days delinquent and was sold to an unaffiliated third party by the Issuer, at the Servicer’s direction, as of the close of business on the last day of a Collection Period and in accordance with the provisions of Section 4.3(c) hereof.

  • Additional Purchased Assets shall have the meaning set forth in Subsection 3(a).

  • Junk vehicle means a vehicle of any age that is damaged or defective in any one or combination of any of the following ways that either makes the vehicle immediately inoperable, or would prohibit the vehicle from being operated in a reasonably safe manner upon the public streets and highways under its own power if self-propelled, or while being towed or pushed, if not self-propelled:

  • Transferred Receivable means a Purchased Receivable or a Contributed Receivable.

  • Warranty Receivable means a Receivable which the Seller is required to repurchase pursuant to Section 3.02.