Maintenance of Physical Damage Insurance Policies. The Servicer shall, in accordance with its customary servicing procedures and underwriting standards, require that each Obligor shall have obtained physical damage insurance covering each Financed Vehicle as of the origination of the related Receivable.
Maintenance of Physical Damage Insurance Policies. The Master Servicer shall follow its customary practices and procedures to determine whether or not each Obligor shall have maintained physical damage insurance covering the related Financed Vehicle. In the event that the Master Servicer has determined that an Obligor fails to maintain the required insurance, the Master Servicer shall treat the Obligor as being in default under the related Receivable.
Maintenance of Physical Damage Insurance Policies. The ------------------------------------------------- Master Servicer and the Subservicer shall, in accordance with the Credit and Collection Policy, require that so long as the related Receivable has a Principal Balance of more than $2,500, the related Obligor shall maintain physical damage insurance covering such Financed Vehicle.
Maintenance of Physical Damage Insurance Policies. The Servicer shall, in accordance with its customary servicing procedures, require that each Obligor shall have obtained physical damage insurance covering each Financed Vehicle as of the origination of the related Contract. The Servicer shall deposit in the Collection Account, all amounts received by the Servicer in respect of or as proceeds of any Insurance Policy. To the extent Servicer maintains any Insurance Policy with respect to any Collateral hereunder, the Secured Parties shall be named in such policy as loss payee.
Maintenance of Physical Damage Insurance Policies. 27 Section 3.06. Maintenance of Security Interests in Financed Vehicles.......27 Section 3.07.
