Common use of Breach of Representation or Warranty Clause in Contracts

Breach of Representation or Warranty. Any representation or warranty of the Borrower made in this Agreement, the Exchange Note Supplement or in any certificate or other document delivered in connection with this Agreement or the related Exchange Note Supplement with respect to such Exchange Note proves to have been incorrect as of the time made, the Exchange Noteholders of such Exchange Note are materially and adversely affected by such incorrectness and such incorrectness is not cured (x) on or before the sixtieth (60th) day after the Borrower has received a notice that states that it is a “Notice of Exchange Note Default” and specified the default or (y) within the period specified in the related Exchange Note Supplement.

Appears in 23 contracts

Samples: Credit and Security Agreement (ACAR Leasing Ltd.), Credit and Security Agreement (ACAR Leasing Ltd.), Credit and Security Agreement

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Breach of Representation or Warranty. Any representation or warranty of the Borrower made in this Collateral Agency Agreement, the Exchange Note Supplement or in any certificate or other document delivered in connection with this Collateral Agency Agreement or the related Exchange Note Supplement with respect to such Closed-End Exchange Note proves to have been incorrect as of the time made, the Exchange Noteholders of such Closed-End Exchange Note are materially and adversely affected by such incorrectness and such incorrectness is not cured (x) on or before the sixtieth (60th) 60th day after the Borrower has received a notice from such Exchange Noteholders that states that it is a “Notice of Exchange Note Default” and specified specifies the default or (y) within the period specified in the related Exchange Note Supplement.

Appears in 5 contracts

Samples: Collateral Agency Agreement (World Omni LT), Collateral Agency Agreement (World Omni LT), Collateral Agency Agreement (World Omni LT)

Breach of Representation or Warranty. Any representation or warranty of the Borrower made in this Agreement, the Exchange Note Supplement or in any certificate or other document delivered in connection with this Agreement or the related Exchange Note Supplement with respect to such Exchange Note proves to have been incorrect as of the time made, the Exchange Noteholders of such Exchange Note are materially and adversely affected by such incorrectness and such incorrectness is not cured (xA) on or before the sixtieth (60th) 30th day after the Borrower has received a notice that states that it is a “Notice of Exchange Note Default” and specified specifies the default or (yB) within the period specified in the related Exchange Note Supplement.

Appears in 3 contracts

Samples: Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2023-A), Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2023-A), Collateral Agency Agreement (Daimler Trust)

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Breach of Representation or Warranty. Any representation or warranty of the Borrower Borrowers made in this Agreement, the Exchange Note Supplement or in any certificate or other document delivered in connection with this Agreement or the related Exchange Note Supplement with respect to such Exchange Note proves to have been incorrect as of the time made, the Exchange Noteholders of such Exchange Note are materially and adversely affected by such incorrectness and such incorrectness is not cured (x) on or before the sixtieth (60th) 60th day after the Borrower has Borrowers have received a notice that states that it is a “Notice of Exchange Note Default” and specified the default or (y) within the period specified in the related Exchange Note Supplement.

Appears in 1 contract

Samples: Credit and Security Agreement (CAB West LLC)

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