Common use of Insurance; Other Clause in Contracts

Insurance; Other. (A) Each Obligor has obtained insurance covering the Financed Vehicle as of the execution of the Receivable insuring against loss and damage due to fire, theft, transportation, collision and other risks generally covered by comprehensive and collision coverage and each Receivable requires the Obligor to obtain and maintain such insurance naming the Seller (or, with respect to the Samco Receivables, Samco and, with respect to the Linc Receivables, Linc) and its successors and assigns as an additional insured, (B) each Receivable that finances the cost of premiums for credit life and credit accident or health insurance is covered by an insurance policy and certificate of insurance naming the Seller (or, with respect to the Samco Receivables, Samco and, with respect to the Linc Receivables, Linc) as policyholder (creditor) under each such insurance policy and certificate of insurance and (C) as to each Receivable that finances the cost of an extended service contract, the respective Financed Vehicle which secures the Receivable is covered by an extended service contract.

Appears in 4 contracts

Samples: Execution (Consumer Portfolio Services Inc), Purchase Agreement (Consumer Portfolio Services Inc), CPS Purchase Agreement (Consumer Portfolio Services Inc)

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Insurance; Other. (A) Each Obligor has obtained insurance covering the Financed Vehicle as of the execution of the Receivable insuring against loss and damage due to fire, theft, transportation, collision and other risks generally covered by comprehensive and collision coverage coverage, and each Receivable requires the Obligor to obtain and maintain such insurance naming the Seller CPS (or, with respect to the Samco Receivables, Samco andSamco, and with respect to the Linc Receivables, Linc) and its successors and assigns as an additional insured, (B) each Receivable that finances the cost of premiums for credit life and credit accident or and health insurance is covered by an insurance policy and or certificate of insurance naming the Seller CPS (or, or with respect to the Samco Receivables, Samco and, with respect to the Linc Receivables, Linc) as policyholder (creditor) under each such insurance policy and certificate of insurance and (C) as to each Receivable that finances the cost of an extended service contract, the respective Financed Vehicle which secures the Receivable is covered by an extended service contract.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (Consumer Portfolio Services Inc), Sale and Servicing Agreement (Consumer Portfolio Services Inc), Sale and Servicing Agreement (Consumer Portfolio Services Inc)

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Insurance; Other. (A) Each Obligor has obtained insurance covering the Financed Vehicle as of the execution of the Receivable insuring against loss and damage due to fire, theft, transportation, collision and other risks generally covered by comprehensive and collision coverage coverage, and each Receivable requires the Obligor to obtain and maintain such insurance naming the Seller (or, with respect to the Samco Receivables, Samco and, with respect to the Linc Receivables, Linc) and its successors and assigns as an additional insured, (B) each Receivable that finances the cost of premiums for credit life and credit accident or health insurance is covered by an insurance policy and certificate of insurance naming the Seller (or, with respect to the Samco Receivables, Samco and, with respect to the Linc Receivables, Linc) as policyholder (creditor) under each such insurance policy and certificate of insurance and (C) as to each Receivable that finances the cost of an extended service contract, the respective Financed Vehicle which secures the Receivable is covered by an extended service contract.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Consumer Portfolio Services Inc)

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