Financed Vehicle Description Sample Clauses

Financed Vehicle Description. Observe the Contract and confirm the description of the Financed Vehicle, including the vehicle identification number, year, make and model, new, used or demo, matches the vehicle information for the Receivable in Ford Credit's receivables systems. Observe each Ancillary Document, if any, and confirm any information describing the Financed Vehicle matches the corresponding information in the Contract. Test 3.3(f) – 3: Net Trade Information Observe the Contract and confirm the net trade-in amount, if any, equals the difference between the value of the trade-in vehicle and the amount the Obligor owes for the trade-in. Test 3.3(f) – 4: Fees and Additional Products Observe the fees, if any, included in the "Itemization of Amount Financed" section of the Contract and confirm they do not exceed the limits stated in the applicable Ford Credit procedure. Observe the amount for each additional product, if any, included in the "Itemization of Amount Financed" section of the Contract and confirm each amount does not exceed the advance cap amount stated in the applicable Ford Credit procedure. Test 3.3(f) – 5: Contract Signed Observe the Contract and confirm signatures are present for the Dealer and the Obligor. Test 3.3(f) – 6: Insurance Signatures Observe the insurance section of the Contract and confirm that no insurance products were purchased or, if so, confirm signatures are present for the Obligor in the insurance section of the Contract. Test 3.3(f) – 7: Dealer Confirmation Observe the Dealer name on the Contract and confirm it matches the Dealer name on the Dealer Assignment. Test 3.3(f) – 8: Additional Document Requirements Observe the Receivable in Ford Credit's receivables systems and confirm that no additional document requirements are indicated for origination or, if so, confirm all required documents are in the Receivable File. Representation and Warranty (Section references are to the Receivables Purchase Agreement) Tests Test 3.3(f) – 9: Notice to Co-Signer Observe the Contract and confirm the Financed Vehicle is purchased for personal use and, if so, confirm if a "Notice to Cosigner" document is required by the applicable Ford Credit procedure and, if so, confirm a signed and dated "Notice to Cosigner" document is in the Receivable File. Test 3.3(f) – 10: Rate Cap Confirmation Observe the APR on the Contract and confirm it does not exceed the rate indicated in Ford Credit's receivables systems by more than the rate cap allowed in the applicable Ford ...
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Related to Financed Vehicle Description

  • Security Interest in Financed Vehicle Immediately prior to the sale, transfer and assignment thereof pursuant hereto and the First Step Receivables Assignment, each Receivable was secured by a validly perfected first priority security interest in the Financed Vehicle in favor of the Seller as secured party or all necessary and appropriate action had been commenced that would result in the valid perfection of a first priority security interest in the Financed Vehicle in favor of the Seller as secured party.

  • Maintenance of Security Interests in Financed Vehicles The Servicer shall, in accordance with its customary servicing procedures, take such steps as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle. The Servicer is hereby authorized to take such steps as are necessary to re-perfect such security interest on behalf of the Issuing Entity and the Indenture Trustee in the event of the relocation of a Financed Vehicle or for any other reason.

  • Mortgage Loan Schedule The information pertaining to each Mortgage Loan which is set forth in the Mortgage Loan Schedule attached as an exhibit to this Agreement is true and correct in all material respects as of the Cut-off Date and contains all information required by the Pooling and Servicing Agreement to be contained therein.

  • Mortgaged Property The real property securing repayment of the debt evidenced by a Mortgage Note.

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