Liquidated definition
Examples of Liquidated in a sentence
The Servicer also may at any time perform through sub-contractors the specific duties of (i) repossession of Financed Vehicles, (ii) tracking Financed Vehicles’ insurance and (iii) pursuing the collection of deficiency balances on certain Liquidated Receivables, in each case, without the consent of the Indenture Trustee, the Owner Trustee or the Backup Servicer and may perform other specific duties through such sub-contractors in accordance with the Servicer’s Customary Servicing Practices.
The Servicer, in its sole discretion, may in accordance with its Customary Servicing Practices sell any Receivable’s deficiency balance and take such other actions in respect of any Liquidated Receivable to the extent it reasonably believes such actions will maximize recoveries with respect to such Receivable in accordance with its Customary Servicing Practices.
It is understood and agreed that the obligation of Servicer to purchase any Receivable (including any Liquidated Receivable) with respect to which such a breach has occurred and is continuing shall, if such obligation is fulfilled, constitute the sole remedy against Servicer for such breach available to the Noteholders, the Owner Trustee, the Backup Servicer (including the Backup Servicer in its capacity as the successor Servicer if so appointed) or the Indenture Trustee.
Receivables purchased by the Servicer or by the Seller on the related Accounting Date and each Receivable which became a Liquidated Receivable or which was paid in full during the related Collection Period shall be identified by account number (as set forth in the Schedule of Receivables).
The Parties agree that the Liquidated Damages represent a genuine pre-estimate of NIVF’s loss arising from a breach of exclusivity, including NIVF’s due diligence costs, management time, and opportunity cost, and are not a penalty.