Auction Vehicles definition

Auction Vehicles. Under the Servicer's current practices and policies, Vehicles purchased at a closed auction conducted by General Motors or others.
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Auction Vehicles means motor vehicles purchased by Borrower from an auto auction which are not older than the number of years set forth in the Schedule.
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Auction Vehicles. Under GMAC's current practices and policies, Vehicles purchased at a closed auction conducted by General Motors or others.
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Examples of Auction Vehicles in a sentence

  • Under the Seller’s current practices and policies, Vehicles of any model year that are not Auction Vehicles, that generally have been driven less than 200 miles and that are either (a) untitled or (b) titled solely for purposes of State laws requiring demonstration vehicles to be titled.

  • Dealer desires GMAC to finance the acquisition of such vehicles; Now, therefore, Dealer and GMAC agree as follows: Wherever the term "vehicles" appears in the Agreement, such term shall include used motor vehicles Dealer acquires through auctions approved by GM or GMAC, if the immediate prior owner of such vehicles was GM, GMAC, or an affiliate of GM or GMAC ("Auction Vehicles").

  • The collateral subject to the Agreement, and in which Dealer grants GMAC a security interest, shall include Auction Vehicles and all additions and accessions thereto, and all proceeds, including insurance proceeds, now owned or hereafter acquired, wherever such collateral is located.