Examples of Deficiency Balance in a sentence
The Servicer may, in accordance with its Customary Servicing Practices, waive any Deficiency Balance.
In addition, the Servicer, in its sole discretion, may in accordance with its Customary Servicing Practices sell any Receivable’s Deficiency Balance, sell Defaulted Receivables and sell Receivables in bankruptcy.
To facilitate any such sale the Servicer may, in accordance with its Customary Servicing Practices, purchase from the Grantor Trust such Receivable’s Deficiency Balance, Defaulted Receivable or Receivable in bankruptcy for a purchase price equal to the proceeds received by the Servicer in an arm’s-length transaction for the sale of such Deficiency Balance, Defaulted Receivable or Receivable in bankruptcy.
The Servicer is authorized to take any and all actions necessary or appropriate on behalf of the Issuer and the Grantor Trust to evidence the sale of the Financed Vehicle at a public or private sale or the sale of the Receivable to the Servicer to facilitate a sale of a Deficiency Balance, Defaulted Receivable or Receivable in bankruptcy pursuant to the provisions of this Section 3.3, in each case, free from any Lien or other interest of the Issuer, the Grantor Trust or the Indenture Trustee.
The Servicer is authorized to take any and all actions necessary or appropriate on behalf of the Issuer to evidence the sale of the Financed Vehicle at a public or private sale or the sale of the Receivable to the Servicer to facilitate a Deficiency Balance sale pursuant to the provisions of this Section 3.3, in each case, free from any Lien or other interest of the Issuer or the Indenture Trustee.