Examples of Third Party Dealers in a sentence
The costs of such Substitute Calculation Agent and, if applicable, nominating Third Party Dealers shall be borne by (a) the Disputing Party if the Substitute Calculation Agent substantially agrees with the Calculation Agent or (b) the non-Disputing Party if the Substitute Calculation Agent does not substantially agree with the Calculation Agent.
The charge had the effect of increasing the cumulative net loss assumption for contracts originated at Company Dealerships to approximately 27.5%, and for contracts purchased from Third Party Dealers to approximately 17.5% for the securitization transactions that took place prior to June 30, 1997.
Further, in April 1998, the Company announced that its Board of Directors had directed management to proceed with separating current dealership operations from the bulk purchasing and third party loan servicing operations and the collateralized dealer finance program, which provides qualified independent used car dealers ("Third Party Dealers") with warehouse purchase facilities and operating credit lines primarily secured by the dealers' retail installment contract portfolio ("Cygnet Dealer Program").
While the Company requires Third Party Dealers to meet certain minimum net worth and operating history criteria to be considered for inclusion in the Cygnet Dealer Program, the Company will, nevertheless, be extending credit to dealers who may not otherwise be able to obtain debt financing from traditional lending institutions such as banks, credit unions, and major finance companies.
For contracts purchased from Third Party Dealers, net losses were originally estimated using total expected cumulative net losses at loan origination of approximately 13.5%, adjusted for actual cumulative net losses prior to securitization.
In addition to the ACS system, the Company is developing a custom loan underwriting and funding software module to interface between the Third Party Dealers' systems and the ACS system.
NEED TO ESTABLISH AND MAINTAIN RELATIONSHIPS WITH THIRD PARTY DEALERS The Company enters into nonexclusive agreements with Third Party Dealers, which may be terminated by either party at any time, pursuant to which the Company purchases contracts originated by such dealers that meet the Company's established terms and conditions.
Discontinued Operations of the Company include the Cygnet Dealer Program, pursuant to which the Company provides qualified Third Party Dealers with warehouse purchase facilities and operating lines of credit primarily secured by such dealers' retail installment contract portfolios and/or inventory.
Third Party Dealers When selling direct and servicing directly is not available to Lion in particular areas, we have taken the approach to partner with local dealers to meet state laws.
If the parties are unable to agree on a Substitute Calculation Agent within the prescribed time, each of the parties shall elect a Third Party Dealer and such two Third Party Dealers shall agree on a third Third Party Dealer, which must be itself a third party to such two Third Party Dealers, by the end of the subsequent Business Day.