Required Standard definition
Examples of Required Standard in a sentence
In the event that any Financed Vehicle is repossessed by the successor Servicer, the disposition of any such Financed Vehicle shall be carried out by the successor Servicer at such price and upon such terms and conditions as the successor Servicer shall determine in accordance with the Required Standard of Care and with a view to maximizing the net proceeds from such disposition.
See "Required Standard Contract Form Contents" below for additional information.
In the event that any Financed Vehicle is repossessed by the successor Servicer, the disposition of any such Financed Vehicle shall be carried out by the successor Servicer at such price and upon such terms and conditions as the successor Servicer shall determine in accordance with the Required Standard of Care and with a view to maximizing the net present value recovery from such disposition.
The Contractor shall provide the Services to the standard set in the Authority's Requirements including so as to meet the targets applicable to the Contract Delivery Indicators identified within Appendix B (Contract Delivery Indicators) (the "Required Standard"), and the Parties are committed to working together to achieve continuous improvement in performance.
The Trust hereby authorizes the Servicer, and the Servicer agrees, consistent with the Required Standard of Care, to take any and all steps reasonably necessary to re-perfect such security interest on behalf of the Trust Collateral Agent as necessary because of the relocation of a Financed Vehicle or for any other reason.