Common use of Dealer Termination; Manufacturer Default Clause in Contracts

Dealer Termination; Manufacturer Default. CNHi Canada shall provide CNHi Capital with as much advance notice as possible of the occurrence of a Dealer Termination. CNHi Canada shall also provide CNHi Capital with oral and written notice of the occurrence of a Manufacturer Default. Upon the occurrence of a Repurchase Event, CNHi Canada shall assist CNHi Capital in the liquidation of the affected Dealer’s assets securing financing provided by CNHi Capital, and shall repurchase certain wholegoods and parts of the affected Dealer, all as herein provided. If a successor servicer is appointed for CNHi Capital under the Securitization Agreements, the successor servicer will succeed to CNHi Capital’s rights below with respect to Securitized Receivables and the related CNHi Parts and Wholegoods. In such case, CNHi Capital shall be relieved of its obligations below insofar as they relate to Securitized Receivables.

Dealer Termination; Manufacturer Default. CNHi CNH Canada shall provide CNHi CNH Capital with as much advance notice as possible of the occurrence of a Dealer Termination. CNHi CNH Canada shall also provide CNHi CNH Capital with oral and written notice of the occurrence of a Manufacturer Default. Upon the occurrence of a Repurchase Event, CNHi CNH Canada shall assist CNHi CNH Capital in the liquidation of the affected Dealer’s assets securing financing provided by CNHi CNH Capital, and shall repurchase certain wholegoods and parts of the affected Dealer, all as herein provided. If a successor servicer is appointed for CNHi CNH Capital under the Securitization Agreements, the successor servicer will succeed to CNHi CNH Capital’s rights below with respect to Securitized Receivables and the related CNHi CNH Parts and Wholegoods. In such case, CNHi CNH Capital shall be relieved of its obligations below insofar as they relate to Securitized Receivables.