SECTION Covenants of the Master Servicer Sample Clauses

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SECTION Covenants of the Master Servicer. The Master Servicer hereby agrees that:

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Related to SECTION Covenants of the Master Servicer

• Covenants of the Master Servicer The Master Servicer hereby covenants to the Depositor and the Trustee as follows:

• Covenants of the Master Servicer and each Servicer The Master Servicer and each Servicer, severally and not jointly, hereby covenants to the Depositor, the Trustee and the Trust Administrator as follows:

• Negative Covenants of the Servicer From the Closing Date until the Collection Date:

• Covenants of the Servicer At all times from the Closing Date until the Final Payout Date:

• Covenants of the Depositor The Depositor covenants and agrees with the Underwriters that:

• Affirmative Covenants of the Servicer From the Closing Date until the Collection Date:

• Covenants of Servicer Unless required by law or court order, the Servicer will not release the Financed Vehicle securing any Receivable from the security interest granted by such Receivable in whole or in part except (i) in the event of payment in full by or on behalf of the Obligor thereunder or payment in full less a deficiency which the Servicer would not attempt to collect in accordance with its Customary Servicing Practices, (ii) in connection with repossession or (iii) as may be required by an insurer in order to receive proceeds from any Insurance Policy covering such Financed Vehicle.

• Covenants of the Manager The Manager covenants and agrees with each underwriter as follows:

• Covenants of the Trust Depositor In the event that any litigation with claims in excess of $1,000,000 to which the Trust Depositor is a party which shall be reasonably likely to result in a material judgment against the Trust Depositor that the Trust Depositor will not be able to satisfy shall be commenced, during the period beginning immediately following the commencement of such litigation and continuing until such litigation is dismissed or otherwise terminated (and, if such litigation has resulted in a final judgment against the Trust Depositor, such judgment has been satisfied), the Trust Depositor shall not pay any dividend to the Servicer, or make any distribution on or in respect of its capital stock to the Servicer, or repay the principal amount of any indebtedness of the Trust Depositor held by the Servicer, unless after giving effect to such payment, distribution or repayment, the Trust Depositor’s liquid assets shall not be less than the amount of actual damages claimed in such litigation.

• Representations, Warranties and Covenants of the Master Servicer The Master Servicer hereby represents, warrants and covenants to the Trustee, for the benefit of each of the Trustee, the Certificateholders and to the Depositor that as of the Closing Date or as of such date specifically provided herein: