Common use of Covenants of Servicer Clause in Contracts

Covenants of Servicer. Unless required by law or court order, the Servicer will not release the Financed Vehicle securing any Receivable from the security interest granted by such Receivable in whole or in part except (i) in the event of payment in full by or on behalf of the Obligor thereunder or payment in full less a deficiency which the Servicer would not attempt to collect in accordance with its Customary Servicing Practices, (ii) in connection with repossession or (iii) as may be required by an insurer in order to receive proceeds from any Insurance Policy covering such Financed Vehicle.

Appears in 102 contracts

Samples: Sale and Servicing Agreement, Sale and Servicing Agreement, Sale and Servicing Agreement (Drive Auto Receivables Trust 2018-5)

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Covenants of Servicer. Unless required by law or court order, the Servicer will shall not release the Financed Vehicle securing any Receivable from the security interest granted by such Receivable in whole or in part except (i) in the event of payment in full by or on behalf of the Obligor thereunder or payment in full less a deficiency which the Servicer would not attempt to collect in accordance with its Customary Servicing Practices, (ii) in connection with repossession or (iii) except as may be required by an insurer in order to receive proceeds from any Insurance Policy insurance policy covering such Financed Vehicle.

Appears in 43 contracts

Samples: Sale and Servicing Agreement (NISSAN AUTO RECEIVABLES Co II LLC), Sale and Servicing Agreement (Nissan Auto Receivables 2024-a Owner Trust), Sale and Servicing Agreement (NISSAN AUTO RECEIVABLES Co II LLC)

Covenants of Servicer. Unless required by law or court order, the Servicer will not release the Financed Vehicle securing any each such Receivable from the security interest granted by such Receivable in whole or in part except (ia) in the event of payment in full by or on behalf of the Obligor thereunder or payment in full less a deficiency which the Servicer would not attempt to collect in accordance with its Customary Servicing Practices, (iib) in connection with repossession or (iiic) except as may be required by an insurer in order to receive proceeds from any Insurance Policy covering such Financed Vehicle.

Appears in 40 contracts

Samples: Sale and Servicing Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Sale and Servicing Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Sale and Servicing Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC)

Covenants of Servicer. Unless required by law or court order, the The Servicer will shall not release the Financed Vehicle securing any Receivable from the security interest granted by such Receivable in whole or in part except (i) in the event of payment in full by or on behalf of the Obligor thereunder or payment in full less a deficiency which repossession, nor shall the Servicer would not attempt to collect impair the rights of the Issuer, the Indenture Trustee, the Certificateholders or the Noteholders in accordance with its Customary Servicing Practicessuch Receivable, (ii) in connection with repossession nor shall the Servicer increase the number of scheduled payments due under a Standard Receivable or (iii) as may be required by an insurer in order to receive proceeds from any Insurance Policy covering such Financed VehicleFixed Value Receivable.

Appears in 37 contracts

Samples: Sale and Servicing Agreement (Daimlerchrysler Auto Trust 2008-A), Sale and Servicing Agreement (Daimlerchrysler Auto Trust 2008-B), Sale and Servicing Agreement (DaimlerChrysler Auto Trust 2007-A)

Covenants of Servicer. Unless required by law or court order, the Servicer will not release the Financed Vehicle securing any each such Receivable from the security interest granted by such Receivable in whole or in part except (ia) in the event of payment in full by or on behalf of the Obligor thereunder or payment in full less a deficiency which the Servicer would not attempt to collect in accordance with its Customary Servicing Practices, (iib) in connection with repossession or (iiic) as may be required by an insurer in order to receive proceeds from any Insurance Policy covering such Financed Vehicle.

Appears in 22 contracts

Samples: Servicing Agreement (Fifth Third Auto Trust 2023-1), Servicing Agreement (Fifth Third Auto Trust 2023-1), Servicing Agreement (Fifth Third Holdings Funding, LLC)

Covenants of Servicer. Unless required by law or court order, the (a) The Servicer will shall not release the Financed Vehicle securing any Receivable from the security interest granted by such Receivable in whole or in part except (i) in the event of payment in full by or on behalf of the Obligor thereunder or payment in full less a deficiency which the Servicer would not attempt to collect in accordance with its Customary Servicing Practices, (ii) in connection with repossession or (iii) except as may be required by an insurer in order to receive proceeds from any Insurance Policy insurance policy covering such Financed Vehicle.

Appears in 21 contracts

Samples: Sale and Servicing Agreement (Nissan Auto Receivables 2015-C Owner Trust), Sale and Servicing Agreement (Nissan Auto Receivables 2015-C Owner Trust), Sale and Servicing Agreement (Nissan Auto Receivables Corp Ii)

Covenants of Servicer. Unless required by law or court order, the The Servicer will shall not release the Financed Vehicle securing any Receivable from the security interest granted by such Receivable in whole or in part except (i) in the event of payment in full by or on behalf of the Obligor thereunder or payment in full less a deficiency which repossession, nor shall the Servicer would not attempt to collect impair the rights of the Issuer, the Indenture Trustee, the Certificateholders or the Noteholders in accordance with its Customary Servicing Practicessuch Receivable, (ii) in connection with repossession or (iii) as may be required by an insurer in order to receive proceeds from any Insurance Policy covering such Financed Vehiclenor shall the Servicer increase the number of scheduled payments due under a Receivable.

Appears in 16 contracts

Samples: Sale and Servicing Agreement (Chrysler Financial Auto Securitization Trust 2010-A), Sale and Servicing Agreement (Chrysler Financial Auto Securitization Trust 2009-B), Form of Sale and Servicing Agreement (Goldman Sachs Asset Backed Securities Corp)

Covenants of Servicer. Unless required by law or court order, the Servicer will not release the Financed Vehicle securing any Receivable from the security interest granted by such Receivable in whole or in part except (ia) in the event of payment in full by or on behalf of the Obligor thereunder or payment in full less a deficiency which the Servicer would not attempt to collect in accordance with its Customary Servicing Practices, (iib) in connection with repossession or (iiic) except as may be required by an insurer in order to receive proceeds from any Insurance Policy covering such Financed Vehicle.

Appears in 15 contracts

Samples: Sale and Servicing Agreement (Usaa Acceptance LLC), Sale and Servicing Agreement (Usaa Acceptance LLC), Sale and Servicing Agreement (Usaa Acceptance LLC)

Covenants of Servicer. Unless required by law or court order, the The Servicer will not release the Financed Vehicle securing any each such Receivable from the security interest granted by such Receivable in whole or in part except (i) in the event of payment in full by or on behalf of the Obligor thereunder or payment in full less a deficiency which the Servicer would not attempt to collect in accordance with its Customary Servicing Practices, (ii) Practices or in connection with repossession or (iii) except as may be required by an insurer in order to receive proceeds from any Insurance Policy covering such Financed Vehicle.

Appears in 5 contracts

Samples: Sale and Servicing Agreement (Volkswagen Auto Loan Enhanced Trust 2003-1), Sale and Servicing Agreement (Volkswagen Auto Loan Enhanced Trust 2005-1), Sale and Servicing Agreement (Volkswagen Auto Loan Enhanced Trust 2003-2)

Covenants of Servicer. Unless required by law or court order, the The Servicer will not (i) release the Financed Vehicle securing any each such Receivable from the security interest granted by such Receivable in whole or in part except (i) in the event of payment in full by or on behalf of the Obligor thereunder or payment in full less a deficiency which the Servicer would not attempt to collect in accordance with its Customary Servicing Practices, (ii) Practices or in connection with repossession or (iii) except as may be required by an insurer in order to receive proceeds from any Insurance Policy covering such Financed VehicleVehicle or (ii) reduce the Contract Rate or Principal Balance with respect to any Receivable other than as required by applicable law.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (Capital One Prime Auto Receivables Trust 2004-1), Sale and Servicing Agreement (Capital One Auto Receivables LLC), Sale and Servicing Agreement (Capital One Prime Auto Receivables Trust 2003-1)

Covenants of Servicer. Unless required by law or court order, the Servicer will not release the Financed Vehicle securing any each such Receivable from the security interest granted by such Receivable in whole or in part except (i) in the event of payment in full by or on behalf of the Obligor thereunder or payment in full less a deficiency which the Servicer would not attempt to collect in accordance with its Customary Servicing Practices, (ii) Practices or in connection with repossession or (iii) except as may be required by an insurer in order to receive proceeds from any Insurance Policy covering such Financed Vehicle.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (Bas Securitization LLC), Sale and Servicing Agreement (Volkswagen Auto Loan Enhanced Trust 2007-1), Sale and Servicing Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC)

Covenants of Servicer. Unless required by law or court order, the The Servicer will shall not release the Financed Vehicle securing any Receivable from the security interest granted by such Receivable in whole or in part except (i) in the event of payment in full by or on behalf of the Obligor thereunder or payment in full less a deficiency which repossession, nor shall the Servicer would not attempt to collect impair the rights of the Trust or the Certificateholders in accordance with its Customary Servicing Practicessuch Receivables, (ii) in connection with repossession or (iii) as may be required by an insurer in order to receive proceeds from any Insurance Policy covering such Financed Vehiclenor shall the Servicer increase the number of scheduled payments due under a Receivable.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Gs Mortgage Securities Corp), Pooling and Servicing Agreement (Goldman Sachs Asset Backed Securities Corp), Pooling and Servicing Agreement (Goldman Sachs Asset Backed Securities Corp)

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Covenants of Servicer. Unless required by law or court order, the Servicer will not release the Financed Vehicle securing any each such Receivable from the security interest granted by such Receivable in whole or in part except (i) in the event of payment in full by or on behalf of the Obligor thereunder or payment in full less a deficiency which the Servicer would not attempt to collect in accordance with its Customary Servicing Practices, (ii) in connection with repossession or (iii) as may be required by an insurer in order to receive proceeds from any Insurance Policy covering such Financed Vehicle.

Appears in 3 contracts

Samples: Sale and Servicing Agreement (Santander Drive Auto Receivables LLC), Sale and Servicing Agreement (Santander Drive Auto Receivables Trust 2010-1), Sale and Servicing Agreement (Santander Drive Auto Receivables Trust 2010-1)

Covenants of Servicer. Unless required by law or court order, the The Servicer will shall not release the Financed Vehicle securing any each Receivable from the security interest granted by such Receivable in whole or in part except (i) in the event of payment in full by or on behalf of the Obligor thereunder or payment in full less a deficiency which foreclosure thereunder, nor shall the Servicer would not attempt to collect impair the rights of the Certificateholders in such Receivables, nor shall the Servicer amend a Receivable, except that extensions may be granted in accordance with its Customary Servicing Practices, (ii) in connection with repossession or (iii) as may be required by an insurer in order to receive proceeds from any Insurance Policy covering such Financed VehicleSection 4.2.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Asta Funding Inc), Pooling and Servicing Agreement (Asta Funding Inc)

Covenants of Servicer. Unless required by law or court order, the Servicer will shall not release the Financed Vehicle securing any Receivable from the security interest granted by such Receivable in whole or in part except (i) in the event of payment in full by or on behalf of the Obligor thereunder or payment in full less a deficiency which the Servicer would not attempt to collect in accordance with its Customary Servicing Practices, (ii) in connection with repossession or (iii) except as may be required by an insurer in order to receive proceeds from any Insurance Policy insurance policy covering such Financed Vehicle.. (NAROT 2018-A Sale and Servicing Agreement)

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Nissan Auto Receivables 2018-a Owner Trust), Sale and Servicing Agreement (Nissan Auto Receivables 2018-a Owner Trust)

Covenants of Servicer. Unless required by law or court order, the The Servicer will shall not release the Financed Vehicle securing any Receivable from the security interest granted by such Receivable in whole or in part (except (i) in the event of payment in full by or on behalf of the Obligor thereunder or payment in full less repossession, or except as ordered by a deficiency which court of competent jurisdiction), nor shall the Servicer would not attempt to collect impair the rights of the Issuer, the Indenture Trustee, the Certificateholders or the Noteholders in accordance with its Customary Servicing Practicessuch Receivable, (ii) in connection with repossession or (iii) as may be required by an insurer in order to receive proceeds from any Insurance Policy covering such Financed Vehiclenor shall the Servicer increase the number of scheduled payments due under a Receivable.

Appears in 2 contracts

Samples: Transfer and Servicing Agreement (Deutsche Recreational Asset Funding Corp), Transfer and Servicing Agreement (Deutsche Recreational Asset Funding Corp)

Covenants of Servicer. Unless required by law or court order, the The Servicer will shall not release the Financed Vehicle securing any Receivable from the security interest granted by such Receivable in whole or in part (except (i) in the event of payment in full by or on behalf of the Obligor thereunder or payment in full less repossession, or except as ordered by a deficiency which court of competent jurisdiction), nor shall the Servicer would not attempt to collect impair the rights of the Issuer, the Indenture Trustee, the Residual Interestholder or the Noteholders in accordance with its Customary Servicing Practicessuch Receivable, (ii) in connection with repossession or (iii) as may be required by an insurer in order to receive proceeds from any Insurance Policy covering such Financed Vehiclenor shall the Servicer increase the number of scheduled payments due under a Receivable.

Appears in 2 contracts

Samples: Transfer and Servicing Agreement (Deutsche Recreational Asset Funding Corp), Transfer and Servicing Agreement (Deutsche Recreational Asset Funding Corp)

Covenants of Servicer. Unless required by law or court order, the The Servicer will shall not release the Financed Vehicle securing any Receivable from the security interest granted by such Receivable in whole or in part except (i) in the event of payment in full by or on behalf of the Obligor thereunder or payment in full less a deficiency which repossession, nor shall the Servicer would not attempt to collect impair the rights of the Trust or the Certificateholders in accordance with its Customary Servicing Practicessuch Receivables, (ii) in connection with repossession or (iii) as may be required by an insurer in order to receive proceeds from any Insurance Policy covering such Financed Vehiclenor shall the Servicer increase the number of scheduled payments due under a Standard Receivable.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (World Omni Auto Receivables LLC)

Covenants of Servicer. Unless required by law or court order, the The Servicer will not (i) release the Financed Vehicle securing any each such Receivable from the security interest granted by such Receivable in whole or in part except (i) in the event of payment in full by or on behalf of the Obligor thereunder or payment in full less a deficiency amount which the Servicer would not attempt to collect in accordance with its Customary Servicing Practices, (ii) Practices or in connection with repossession or (iii) except as may be required by an insurer in order to receive proceeds from any Insurance Policy covering such Financed VehicleVehicle or (ii) reduce the Contract Rate or Principal Balance with respect to any Receivable other than as required by applicable law.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Capital One Prime Auto Receivables Trust 2004-2)

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