Collateral recovery definition

Collateral recovery means the repossession of a motor vehicle, manufactured home, motorboat, or other personal property by a person who is authorized by the legal owner, lien holder, or lessor to repossess property, or to collect money payment in lieu of repossession of property, that has been sold or leased pursuant to a security agreement that contains a repossession clause. A recovery pursuant to this chapter does not include the towing of a vehicle at the request of the legal owner or pursuant to another provision of law.
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Collateral recovery means the total amount of recovery that the Secured
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Examples of Collateral recovery in a sentence

  • Dealership irrevocably waives any bonds, surety, or security which may be required by any rule, law, or procedure in connection with Collateral Recovery.

  • Following total or partial Collateral Recovery, either or both of the Ally Parties may sell, lease, or otherwise dispose of all or any portion of the Collateral not less than ten (10) calendar days after giving Dealership written notice of the public or private sale or as permitted by law which it proposes for the account of Dealership.

  • In completing Form RD 449-30, the amount of the debt assumed will be entered on line 24 as Net Collateral (Recovery).

  • If this Agreement shall have been terminated prior to such Shared Collateral Recovery, this Agreement shall be reinstated in full force and effect in the event of such Shared Collateral Recovery, and such prior termination shall not diminish, release, discharge, impair, or otherwise affect the obligations of the Parties from such date of reinstatement.

  • If this Agreement shall have been terminated prior to such Cash Flow Collateral Recovery, this Agreement shall be reinstated in full force and effect in the event of such Cash Flow Collateral Recovery, and such prior termination shall not diminish, release, discharge, impair, or otherwise affect the obligations of the Parties from such date of reinstatement.

  • In completing the Report of Loss, the amount of the debt assumed will be entered as Net Collateral (Recovery).

  • The term "Collateral Recovery Rate" shall mean, for any period of determination, (i) the total cash collected from all Receivables (including but not limited to all cash proceeds from charge off recoveries, with such charge off recoveries calculated at wholesale value), divided by (ii) the sum of (a) the Included Rebates plus (b) the total cash collected from all Receivables (excluding all cash proceeds from charge off recoveries) plus (c) the aggregate of all Charge Offs for that period.

  • Any Net Available Cash deposited into a Collateral Account from any Asset Dispositions of Collateral, Recovery Events (as described below) or Asset Swaps involving the transfer of Collateral (as described below) may be withdrawn by the Company to be invested by the Company in Additional Assets within 360 days of the date of such Asset Disposition, Recovery Event or Asset Swap, which Additional Assets are thereupon with their acquisition added to the Collateral securing the Securities.

  • If this Agreement shall have been terminated prior to such Common Collateral Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto from such date of reinstatement.

  • If this Agreement shall have been terminated prior to such Pari Passu Common Collateral Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto from such date of reinstatement.