Examples of Representation and Warranty in a sentence
Representation and Warranty (Section references are to the Receivables Purchase Agreement) Tests Test 3.3(m) — 3: Obligor Complaints Observe the Receivable in Ford Credit’s receivables systems and confirm that “Complaints/Feedback” is not indicated for the Receivable as of the Cutoff Date or, if so, confirm that the documentation indicated in Ford Credit’s receivables systems related to the complaint follows the applicable Ford Credit procedures.
Representation and Warranty (Section references are to the Receivables Purchase Agreement) Tests Test 3.3(f) — 9: Notice to Co-Signer Observe the Contract and confirm the Financed Vehicle is purchased for personal use and, if so, confirm if a “Notice to Cosigner” document is required by the applicable Ford Credit procedure and, if so, confirm a signed and dated “Notice to Cosigner” document is in the Receivable File.
A breach of the “Title, Lien Priority” or “Taxes Paid” Representation and Warranty that caused the mortgage to not be in first lien position as of the Closing Date and Seller had not provided title insurance insuring that the mortgage was in first lien position.
A breach of the “No Encumbrances or Pledges” Representation and Warranty that resulted in Seller being unable to convey ownership of the Mortgage Loan on the Closing Date.
A breach of the “1-4 Family; U.S.” Representation and Warranty that caused a Significant Actual Loss to the Trust.