Common use of Receivables in Force Clause in Contracts

Receivables in Force. As of the Cutoff Date, no Receivable has been satisfied, subordinated or rescinded, nor has the related Financed Vehicle been released in whole or in part from the Lien granted by the related Receivable. 1: Confirm the Receivable is listed as an active account as of the Cutoff Date 2: Confirm there is no evidence within the Receivable File that the Receivable was satisfied prior to the Cutoff Date 3: Confirm there is no evidence within the Receivable File that the Receivable was subordinated or rescinded prior to the Cutoff Date 4: Confirm there is no evidence within the Receivable File that the Financed Vehicle has been released from the Lien in whole or in part prior to the Cutoff Date