Common use of Inspection/Documentation Clause in Contracts

Inspection/Documentation. Prior to funding a completed New Motor Coach, Dealer will provide documentation for the completed unit containing details of all equipment and options. Upon receipt of such documentation, DFS may arrange a physical inspection of the completed unit to verify completion. Upon DFS’ request, Dealer will permit DFS to review Dealer’s records to confirm the cost to manufacture New Motor Coaches. The manufacturer’s statement of origin for both the chassis and the completed unit must be delivered to DFS prior to funding to be retained until funding of the retail sale of the unit. Upon funding, DFS may remit the portion of the advance allocated to the cost of the chassis directly to the manufacturer of the chassis, provided that the manufacturer provides a written release of its lien in said chassis, or, if such amount is paid by Dealer, Dealer will provide evidence of payment of all amounts due to such manufacturer for such chassis and manufacturer’s written release of its lien in said chassis. DFS must have a first perfected security interest in each New Motor Coach financed, including the chassis, and all proceeds thereof.

Inspection/Documentation. Prior to funding a completed New Motor Coach, Dealer will provide documentation for the completed unit containing details of all equipment and options. Upon receipt of such documentation, DFS CDF may arrange a physical inspection of the completed unit to verify completion. Upon DFS’ CDF’s request, Dealer will permit DFS CDF to review Dealer’s records to confirm the cost to manufacture New Motor Coaches. The manufacturer’s statement of origin for both the chassis and the completed unit must be delivered to DFS CDF prior to funding to be retained until funding of the retail sale of the unit. Upon funding, DFS CDF may remit the portion of the advance allocated to the cost of the chassis directly to the manufacturer of the chassis, provided that the manufacturer provides a written release of its lien in said chassis, or, if such amount is paid by Dealer, Dealer will provide evidence of payment of all amounts due to such manufacturer for such chassis and manufacturer’s written release of its lien in said chassis. DFS CDF must have a first perfected security interest in each New Motor Coach financed, including the chassis, and all proceeds thereof.