Examples of TMS Auto Finance in a sentence
No such resignation of the Servicer shall become effective until a successor servicer shall have assumed the responsibilities and obligations of TMS Auto Finance in accordance with Section 8.2 of this Agreement.
In consideration of and simultaneously with the repurchase of the Receivable, the Representative and/or the Seller shall remit, or cause TMS Auto Finance to remit, to the Collection Account the Purchase Amount in the manner specified in Section 5.5 and the Issuer shall execute such assignments and other documents reasonably requested by such person in order to effect such repurchase.
The Seller hereby represents and warrants to the Trust that such assignment is valid, enforceable and effective to permit the Trust to enforce such obligations of TMS Auto Finance under the Purchase Agreement.
The Servicer and the Seller, TMS Auto Finance and the Representative, as applicable, shall deposit or cause to be deposited in the Collection Account on the Determination Date following the date on which such obligations are due the aggregate Purchase Amount with respect to Purchased Receivables.
Section 2.1 of this Agreement, the Seller conveyed to the Trust all of the Seller's right, title and interest in its rights and benefits, but none of its obligations or burdens, under the Purchase Agreement including the Seller's rights under the Purchase Agreement and the delivery requirements, the representations and warranties and the cure or repurchase obligations of TMS Auto Finance thereunder.
The sole remedy of the Issuer, the Owner Trustee, the Trustee, the Noteholders or the Certificateholders with respect to a breach of representations and warranties pursuant to Section 3.1 and the agreement contained in this Section shall be the repurchase of Receivables pursuant to this Section, subject to the conditions contained herein or to enforce the obligation of TMS Auto Finance to the Seller to repurchase such Receivables pursuant to the Purchase Agreement.
Immediately prior to the sale, assignment and transfer thereof to the Trust, each Receivable is secured by a validly perfected first priority security interest in the Financed Vehicle in favor of TMS Auto Finance as secured party or all necessary and appropriate actions have been commenced that would result in the valid perfection of a first priority security interest in the Financed Vehicle in favor of TMS Auto Finance as secured party.