Common use of Realization upon Receivables Clause in Contracts

Realization upon Receivables. (a) The Servicer shall use commercially reasonable efforts on behalf of the Issuer, in accordance with the standard of care required under Section 3.01, to repossess or otherwise convert the ownership of each Financed Vehicle securing a Defaulted Receivable. In taking such action, the Servicer shall follow such customary and usual practices and procedures as it shall deem necessary or advisable in its servicing of comparable motor vehicle installment sales contracts and installment loans, and as are otherwise consistent with the standard of care required under Section 3.01. The Servicer shall be entitled to recover all reasonable expenses incurred by it with respect to realizing on a Defaulted Receivable, including such expenses incurred in the course of repossessing and liquidating a Financed Vehicle into cash proceeds. The foregoing is subject to the proviso that, in any case in which the Financed Vehicle shall have suffered damage, the Servicer shall not expend funds in connection with any repair or towards the repossession of such Financed Vehicle unless it shall determine in its discretion that such repair or repossession shall increase the Net Liquidation Proceeds or Recoveries of the related Receivable.

Realization upon Receivables. (a) The Servicer shall use commercially reasonable efforts on behalf of the IssuerTrust, in accordance with the standard of care required under Section 3.013.1, to repossess or otherwise convert the ownership of each Financed Vehicle securing a Defaulted Receivable. In taking such action, the Servicer shall follow such customary and usual practices and procedures as it shall deem necessary or advisable in its servicing of comparable motor vehicle retail installment sales sale contracts and installment loans, and as are otherwise consistent with the standard of care required under Section 3.013.1. The Servicer shall be entitled to recover all reasonable expenses expenses, including external costs of collection, incurred by it in connection with respect to realizing on a collection of any Defaulted Receivable, including such expenses incurred Receivables and in the course of repossessing and liquidating a Financed Vehicle into cash proceeds, but only out of the cash proceeds of such Financed Vehicle and any deficiency obtained from the related Obligor. The foregoing is subject to the proviso that, in any case in which the If a Financed Vehicle shall have suffered damage, the Servicer shall not expend funds in connection with any the repair or towards the repossession of such Financed Vehicle unless it shall determine in its discretion that such repair or and/or repossession shall will increase the Net Liquidation Proceeds or Recoveries of received with respect to the related Receivable.

Realization upon Receivables. (a) The Servicer shall use commercially reasonable efforts on behalf of the Issuer, in accordance with the standard of care required under Section 3.01, to repossess or otherwise convert the ownership of each Financed Vehicle Equipment and other collateral securing a Defaulted Receivable. In taking such action, the Servicer shall follow such customary and usual practices and procedures as it shall deem necessary or advisable in its servicing of comparable motor vehicle installment sales contracts and installment loansloans secured by trucking and transportation equipment, and as are otherwise consistent with the standard of care required under Section 3.01. The Servicer shall be entitled to recover all reasonable expenses incurred by it with respect to realizing on a Defaulted Receivable, including such expenses incurred in the course of repossessing and liquidating a Financed Vehicle Equipment into cash proceeds. The foregoing is subject to the proviso that, in any case in which the Financed Vehicle Equipment shall have suffered damage, the Servicer shall not expend funds in connection with any repair or towards the repossession of such Financed Vehicle Equipment unless it shall determine in its discretion that such repair or repossession shall increase the Net Liquidation Proceeds or Recoveries of the related Receivable.

Realization upon Receivables. (a) The Servicer shall use commercially reasonable efforts on behalf of the Issuer, in accordance with the standard of care required under Section 3.01, to repossess or otherwise convert the ownership of each Financed Vehicle securing a Defaulted Receivable. In taking such action, the Servicer shall follow such customary and usual practices and procedures as it shall deem necessary or advisable in its servicing of comparable motor vehicle installment sales contracts and installment loanssale contracts, and as are otherwise consistent with the standard of care required under Section 3.01. The Servicer shall be entitled to recover all reasonable expenses incurred by it with respect to realizing on a Defaulted Receivable, including such expenses incurred in the course of repossessing and liquidating a Financed Vehicle into cash proceeds, but only out of the cash proceeds of such Financed Vehicle and any deficiency amount obtained from the Obligor. The foregoing is subject to the proviso that, in any case in which the Financed Vehicle shall have suffered damage, the Servicer shall not expend funds in connection with any repair or towards the repossession of such Financed Vehicle unless it shall determine in its discretion that such repair or repossession shall increase the Net Liquidation Proceeds or Recoveries of the related Receivable.

Realization upon Receivables. (a) The Servicer shall use commercially reasonable efforts on behalf of the IssuerTrust, in accordance with the standard of care required under Section 3.013.1, to repossess or otherwise convert the ownership of each Financed Vehicle securing a Defaulted Receivable. In taking such action, the Servicer shall follow such customary and usual practices and procedures as it shall deem necessary or advisable in its servicing of comparable motor vehicle retail installment sales sale contracts and installment loans, and as are otherwise consistent with the standard of care required under Section 3.013.1. The Servicer shall be entitled to recover all reasonable expenses incurred by it in connection with respect to realizing on a collection of any Defaulted Receivable, including such expenses incurred Receivables and in the course of repossessing and liquidating a Financed Vehicle into cash proceeds, but only out of the cash proceeds of such Financed Vehicle and any deficiency obtained from the related Obligor. The foregoing is subject to the proviso that, in any case in which the If a Financed Vehicle shall have suffered damage, the Servicer shall not expend funds in connection with any the repair or towards the repossession of such Financed Vehicle unless it shall determine in its discretion that such repair or and/or repossession shall will increase the Net Liquidation Proceeds or Recoveries of received with respect to the related Receivable.

Realization upon Receivables. (a) The Servicer shall use commercially reasonable efforts on behalf of the Issuer, in accordance with the standard of care required under Section 3.01, to repossess or otherwise convert the ownership of each Financed Vehicle Equipment and other collateral securing a Defaulted Receivable. In taking such action, the Servicer shall follow such customary and usual practices and procedures as it shall deem necessary or advisable in its servicing of comparable motor vehicle installment sales contracts and installment loansloans secured by trucking and transportation equipment, and as are otherwise consistent with the standard of care required under Section 3.01. The Servicer shall be entitled to recover all reasonable expenses incurred by it with respect to realizing on a Defaulted Receivable, including such expenses incurred in the course of repossessing and liquidating a Financed Vehicle Equipment into cash proceeds. The foregoing is subject to the proviso that, ; provided that in any case in which the Financed Vehicle Equipment shall have suffered damage, the Servicer shall not expend funds in connection with any repair or towards the repossession of such Financed Vehicle Equipment unless it shall determine in its discretion that such repair or repossession shall increase the Net Liquidation Proceeds or Recoveries of the related Receivable.

Realization upon Receivables. (a) The Each Servicer shall use commercially reasonable efforts shall, on behalf of the IssuerBorrowers and CSFB, in accordance use all reasonable efforts, consistent with the standard of care required under Section 3.01Accepted Servicing Standards, to repossess or otherwise convert the ownership of each the Financed Vehicle securing a Defaulted any Receivable as to which such Servicer shall have determined that payments thereunder are not likely to be resumed, as soon as is practicable after default on such Receivable. In taking The Servicer shall use reasonable efforts consistent with its customary servicing procedures to liquidate such action, the Financed Vehicle. Each Servicer shall follow such customary and usual practices and procedures as it shall deem necessary or advisable in its servicing of comparable motor vehicle installment sales contracts automobile receivables, which may include reasonable efforts to realize upon any recourse to Dealers and installment loans, and as are otherwise consistent with selling the standard of care required under Section 3.01. The Servicer shall be entitled to recover all reasonable expenses incurred by it with respect to realizing on a Defaulted Receivable, including such expenses incurred in the course of repossessing and liquidating a Financed Vehicle into cash proceedsat public or private sale. The foregoing is shall be subject to the proviso provision that, in any case in which the Financed Vehicle shall have suffered damage, the each Servicer shall not expend funds in connection with any the repair or towards the repossession of such Financed Vehicle unless it shall determine in its discretion that such repair or and/or repossession shall will increase the Net Liquidation Proceeds or Recoveries proceeds ultimately recoverable with respect to such Receivable by an amount greater than the amount of the related Receivablesuch expenses.