Repossession means the recovery of a motor vehicle
Repossession means the recovery of an aircraft
Repossession means the recovery of a motor vehicle as defined under s. 320.01(1), a mobile home as defined in s. 320.01(2), a motorboat as defined under s. 327.02, an aircraft as defined in s. 330.27(1), a personal watercraft as defined in s. 327.02, an all-terrain vehicle as defined in s. 316.2074, farm equipment as defined under s. 686.402, or industrial equipment, by an individual who is authorized by the legal owner, lienholder, or lessor to recover, or to collect money payment in lieu of recovery of, that which has been sold or leased under a security agreement that contains a repossession clause. As used in this subsection, the term “industrial equipment” includes, but is not limited to, tractors, road rollers, cranes, forklifts, backhoes, and bulldozers. The term “industrial equipment” also in- cludes other vehicles that are propelled by power other than muscular power and that are used in the manu- facture of goods or used in the provision of services. A repossession is complete when a licensed recovery agent is in control, custody, and possession of such repossessed property. Property that is being repos- sessed shall be considered to be in the control, custody, and possession of a recovery agent if the property being repossessed is secured in preparation for transport from the site of the recovery by means of being attached to or placed on the towing or other transport vehicle or if the property being repossessed is being operated or about to be operated by an employee of the recovery agency.
Examples of Repossession in a sentence
Test 12-1: Repossession Inventory Observe TMCC’s receivables systems and confirm the Receivable was not held in repossession inventory as of the Cutoff Date.
If the Backup Servicer has become the Servicer, it shall be entitled to receive Repossession Expenses in accordance with Section 5.02 hereof.
Such Repossession Policy shall comply in all respects with 6 Del.C. Article 9, Secured Transactions, Part 6, Default.
As compensation for the performance of its obligations under this Agreement and with respect to the Sale and Servicing Agreement, the Backup Servicer is entitled to: (i) prior to the Assumption Date, the Backup Servicing Fee and (ii) after the Assumption Date, the sum of: (A) the Servicing Fee, (B) the Servicer Expenses, (C) any Repossession Expenses and (D) any Transition Expenses.
If the Backup Servicer has become the Servicer, it shall be entitled to be reimbursed for all Servicer Expenses and Transition Expenses in accordance with Section 5.08(a) hereof and for all Repossession Expenses in accordance with Section 5.02 hereof.
More Definitions of Repossession
Repossession means the recovery of collateral as defined in this chapter by a licensed recovery agent who is authorized by the legal owner, lienholder, or lessor to recover that which has been sold or leased pursuant to a security agreement that contains a repossession clause. A repossession is complete when a licensed recovery agent is in control, custody, and possession of the defined collateral.
Repossession means any action taken or to be taken pursuant to the UCC or other applicable laws in connection with recovery on a Defaulted Receivable (including any Liquidated Receivable), including repossession of the related Financed Vehicle with or without judicial proceedings, sale of such Financed Vehicle at public or private sale, retention of such Financed Vehicle in satisfaction of the Obligor's obligations under such Defaulted Receivable, or a levy on and sheriff's sale of the related Financed Vehicle in enforcement of a judgment on such Defaulted Receivable or by voluntary surrender or otherwise.
Repossession means the locating or recovering of collateral by means of an assignment.
Repossession means the recovery of a motor vehicle, manufactured home, motorboat, or other personal property by an individual who is authorized by the legal owner, lien holder, or lessor to recover property, or to collect money payment in lieu of recovery of property, that has been sold or leased pursuant to a security agreement that contains a repossession clause. A repossession pursuant to this chapter does not include the towing of a vehicle at the request of the legal owner or pursuant to another provision of law. A repossession is complete when a licensed recovery agent is in control, custody, and possession of the motor vehicle, manufactured home, motorboat, or other personal property and, when repossessing at the debtor’s premises, has removed the personal property from the premises of the debtor.
Repossession means the recovery of a motor vehicle as defined under s. 320.01(1), a mobile home as defined in s. 320.01(2), a motorboat as defined under s. 327.02, an aircraft as defined in s. 330.27(1), a personal watercraft as defined in s. 327.02, an all-terrain vehicle as defined in s. 316.2074, farm equipment as defined under s. 686.402, or industrial equipment, by an individual who is authorized by the legal owner, lienholder, or lessor to recover, or to collect money payment in lieu of recovery of, that which has been sold or leased under a security agreement that contains a repossession clause. As used in this subsection, the term "industrial equipment" includes, but is not limited to, tractors, road rollers, cranes, forklifts, backhoes, and bulldozers. The term "industrial equipment" also includes other vehicles that are propelled by power other than muscular power and that are used in the manufacture of goods or used in the provision of services. A repossession is complete when a licensed recovery agent is in control, custody, and possession of such repossessed property.
Repossession means towing, storage, or recovery of a vehicle by the vehicle lienholder or an agent or
Repossession means towing, storage, or recovery of a vehicle by the vehicle lienholder or an agent or other person working on behalf of the lienholder;