Manufacturer Default definition

Manufacturer Default means a default by a Dealer pursuant to a CNHi Dealer Agreement.
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Manufacturer Default means any of the events described in Section 15.1 where the Manufacturer is the defaulting party, or in Section 15.2.1 or 15.2.4.
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Manufacturer Default means, with respect to (a) (i) a Manufacturer whose Repurchase Program is a Guaranteed Depreciation Program, the failure by such Manufacturer or any related auction dealers to pay any amount due under such Manufacturer's Repurchase Program with respect to a Vehicle turned in to such Manufacturer and such failure continues for more than 90 days after such amount shall have been due and payable and (ii) any other Manufacturer, the failure by such Manufacturer to pay any amount due under its Repurchase Program with respect to a Vehicle turned in to such Manufacturer and such failure continues for more than 90 days following the Turnback Date for such Vehicle (in either case, a "Past Due Amount") and the aggregate Past Due Amounts relating to such Manufacturer are in excess of $25 million under its Repurchase Program in respect of Vehicles that are subject to the Lease, in each case net of Past Due Amounts, aggregating no more than $50 million, that are the subject of a good faith dispute as evidenced by a writing by National or NFLP, as applicable, or the Manufacturer questioning the accuracy of amounts paid or payable in respect of certain Vehicles tendered for repurchase under a Repurchase Program (as distinguished from any dispute relating to the repudiation by such Manufacturer generally of its obligations under such Repurchase Program or the assertion by such Manufacturer of the invalidity or unenforceability as against it of such Repurchase Program) or (b) the occurrence of an Event of Bankruptcy with respect to such Manufacturer.
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Examples of Manufacturer Default in a sentence

  • CNHi America shall also provide CNHi Capital with oral and written notice of the occurrence of a Manufacturer Default.

  • CNHi Canada shall also provide CNHi Capital with oral and written notice of the occurrence of a Manufacturer Default.

  • CNH Canada shall also provide CNH Capital with oral and written notice of the occurrence of a Manufacturer Default.

  • Special Provisions Concerning Remedies and Sale If Manufacturer Default or Inability to Turn Back under Repurchase Program........................

  • No Manufacturer Default or Manufacturer Ineligibility Event has occurred and is continuing.

  • Manufacturer hereby acknowledges that Customer and its Affiliates will suffer irreparable and continuing harm upon the occurrence of an Event of Manufacturer Default and that legal remedies would be inadequate in the event of such occurrence.

  • Accordingly, Manufacturer agrees that, upon the occurrence of an Event of Manufacturer Default, Customer and its Affiliates shall, in addition to any other rights and remedies available under law and in equity, have the right and remedy to obtain an injunction and to have the provisions of this Agreement specifically enforced by any court having equity jurisdiction.

  • Accordingly, Manufacturer agrees that, upon the occurrence of an Event of Manufacturer Default, Customer and its Affiliates shall, in addition to any other rights and remedies available under law and in equity, have the right and remedy to obtain injunctive relief and to have the provisions of this Agreement specifically enforced by any court having equity jurisdiction so as to prevent such irreparable and continuing harm.

  • CNH America shall also provide CNH Capital with oral and written notice of the occurrence of a Manufacturer Default.