Examples of VSI Policy in a sentence
The Obligor with respect to each Receivable is required pursuant to the terms of the related Receivable to obtain insurance covering the Financed Vehicle insuring against loss and damage due to fire, theft, collision and other risks generally covered by comprehensive and collision insurance coverage and each Financed Vehicle is covered by the VSI Policy.
Borrower has obtained each VSI Policy and as of the Cutoff Date, one or more of such policies is in full force and effect with respect to each Receivable.
The Originator shall cause notice to be given to the insurers under the Risk Default Policy and the VSI Policy to identify the Trustee as an additional named insured, as its interest may appear, under each such policy.
In performing its duties and obligations hereunder, the Servicer shall comply with the VSI Policy (solely with respect to insurance tracking as specified in the Servicer's duties as set forth in Section 2.04(a)) and all applicable federal and state laws and regulations, shall maintain all state and federal licenses and franchises necessary for it to perform its servicing responsibilities hereunder, and shall not impair the rights of AutoBond in the Receivables.
Seller shall notify, or cause to be notified, the VSI Policy carrier and request the Buyer to be named as an additional insured under such policy with respect to the Receivables and Seller will instruct said carriers to pay to Buyer any and all funds, unearned premiums, and returned premium claims due or hereafter to become due to Seller to the extent such amounts are received after the Cutoff Date and relate to the Receivables.