Vehicle Loans definition
Examples of Vehicle Loans in a sentence
Without limiting the standard set forth in the preceding sentence, Servicer shall use a degree of skill, attention and care that is not less than Servicer exercises with respect to comparable Motor Vehicle Loans that it services for itself or others and that is consistent with prudent industry standards.
By the Closing Date, Seller shall have caused the portions of Seller's and each Seller Affiliate's electronic master record of Motor Vehicle Loans relating to the Receivables to be clearly and unambiguously marked to show that the Receivable is owned by Issuer in accordance with the terms of this Agreement.
By the Closing Date, Seller shall have caused the portions of Seller's electronic master record of Motor Vehicle Loans relating to the Receivables to be clearly and unambiguously marked to show that the Receivable is owned by Purchaser in accordance with the terms of this Agreement.
By the Closing Date, Seller shall have caused the portions of Seller's and the Transferor's electronic master record of Motor Vehicle Loans relating to the Receivables to be clearly and unambiguously marked to show that the Receivable is owned by Trustee in accordance with the terms of this Agreement.
By the Closing Date, Seller shall have caused the portions of Seller’s and the Transferor’s electronic master record of Motor Vehicle Loans relating to the Receivables to be clearly and unambiguously marked to show that the Receivable is owned by Trustee in accordance with the terms of this Agreement.
By the Closing Date, Seller shall have caused the portions of Seller's and the Transferor's electronic master record of Motor Vehicle Loans relating to the Receivables to be clearly and unambiguously marked to show that the Receivable is owned by Issuer in accordance with the terms of this Agreement.
The aggregate outstanding principal balance of the New Vehicle Loans made to finance Eligible New Vehicles (including Fleet Vehicles and Demos) owned by any New Vehicle Floorplan Dealership shall not at any time exceed the limit (“Dealership Loan Limit”) for such New Vehicle Floorplan Dealership which is agreed to between Agent and the Company from time to time or, if applicable, any manufacturer, distributor, dealership location or other sublimit set forth within such limit (“Dealership Sublimit”).
Except with the prior approval of the majority of the Board of Directors of the Company, the Company shall not materially modify or amend its Current Policies Regarding Purchase of Retail Installment Vehicle Loans.
The Company shall not, and shall not permit any of its Subsidiaries to, engage in the conduct of any business other than the business of the Company and its Subsidiaries in connection with the purchase and securitization of Vehicle Loans as such businesses exist on the Closing Date or in other commercial or consumer finance and/or related service businesses.
Notwithstanding the foregoing, the Related Principal Portion for unsold New Vehicles representing up to 5% of the outstanding principal balance of the New Vehicle Loans may remain unpaid following the Required Repayment Date; provided that the Related Principal Portion for each unsold New Vehicle must be repaid no later than the third New Vehicle Monthly Payment Date following the Required Repayment Date for such New Vehicle.