Substituted Financed Vehicle definition
Examples of Substituted Financed Vehicle in a sentence
The second vehicle shall be substituted as the collateral ("Substituted Financed Vehicle") for the Receivable and the terms of the Receivable shall not be amended or modified except to reflect the substituted collateral.
The Servicer shall, within 180 days of the acceptance of the Substituted Financed Vehicle, cause the certificate of title for the Substituted Financed Vehicle to be delivered to Client or the Servicer for the benefit of Client or the escrow agent, as applicable.
The Servicer shall, within 90 days of the purchase of the Substituted Financed Vehicle, cause the certificate of title for the Substituted Financed Vehicle to be delivered to the Trustee as Custodian pursuant to Section 3.03 of the Standard Terms; provided, however, that if the certificate of title is not delivered to the Trustee within such 90-day period, the Seller shall be deemed to be in breach of its representations and warranties in the Pooling and Servicing Agreement.
The Servicer shall, within 90 days of the purchase of the Substituted Financed Vehicle, cause the certificate of title for the Substituted Financed Vehicle to be delivered to the Trustee as Custodian pursuant to Section 3.03 of the Pooling and Servicing Agreement; provided, however, that if the certificate of title is not delivered to the Trustee within such 90-day period, the Seller shall be deemed to be in breach of its representations and warranties in the Pooling and Servicing Agreement.
The second vehicle shall be substituted as the collateral ("Substituted Financed Vehicle") for the ---------------------------- Receivable and the terms of the Receivable shall not be amended or modified except to reflect the substituted collateral.
The Servicer shall, within 90 days of the purchase of the Substituted Financed Vehicle, cause the certificate of title for the Substituted Financed Vehicle to be delivered to Client or the escrow agent, as applicable.