Common use of Receivable in Force Clause in Contracts

Receivable in Force. As of the Cutoff Date, neither the Sponsor’s receivables systems nor the Receivable File indicate that the Receivable was satisfied, subordinated or rescinded, or that the Financed Vehicle was released from the Lien created under the Receivable.

Receivable in Force. As of the Cutoff Date, neither the Sponsor’s 's receivables systems nor the Receivable File indicate that the Receivable was satisfied, subordinated or rescinded, or that the Financed Vehicle was released from the Lien created under the Receivable.