No Instruments. CAC shall take no action to cause any Loan to be evidenced by any instrument (as defined in the UCC as in effect in the relevant jurisdictions), except for instruments obtained with respect to defaulted Loans that are in the possession, or under the control, of the Servicer in its capacity as custodian for the Trust and the Trust Collateral Agent.
Appears in 32 contracts
Samples: Sale and Contribution Agreement (Credit Acceptance Corp), Sale and Contribution Agreement (Credit Acceptance Corp), Sale and Contribution Agreement (Credit Acceptance Corp)
No Instruments. CAC shall take no action to cause any Loan to be evidenced by any instrument (as defined in the UCC as in effect in the relevant jurisdictions), except for instruments obtained with respect to defaulted Loans that are in the possession, or under the control, possession of the Servicer in its capacity as custodian for the Trust and the Trust Collateral Agent.
Appears in 6 contracts
Samples: Sale and Contribution Agreement (Credit Acceptance Corp), Sale and Contribution Agreement (Credit Acceptance Corp), Sale and Contribution Agreement (Credit Acceptance Corp)
No Instruments. CAC shall take no action to cause any Dealer Loan to be evidenced by any instrument (as defined in the UCC as in effect in the relevant jurisdictions), except for instruments obtained with respect to defaulted Dealer Loans that are in the possession, or under the control, possession of the Servicer in its capacity as custodian for the Trust and the Trust Collateral Agent.
Appears in 5 contracts
Samples: Contribution Agreement (Credit Acceptance Corporation), Contribution Agreement (Credit Acceptance Corporation), Contribution Agreement (Credit Acceptance Corporation)
