Common use of Collecting Title Documents Not Delivered at the Closing Date Clause in Contracts

Collecting Title Documents Not Delivered at the Closing Date. (a) If the Title Document for a Financed Vehicle does not reflect the Company as lienholder at the time of the Company's purchase direct from a Dealer of the related Contract, the Servicer shall confirm, prior to the Company's purchase, that an appropriate application has been made to transfer the lien on the Title Document to the Company. If the Title Document for a Financed Vehicle reflects the Servicer as lienholder at the time of the Company's purchase of the related Contract, the Servicer shall, in connection with the Company's purchase, make an appropriate application to transfer the lien on the Title Document to the Company.