No Repossessions Clause Samples
The "No Repossessions" clause prohibits one party from reclaiming or taking back property or goods that have been delivered or transferred under the agreement. In practice, this means that once ownership or possession has passed to the other party, the original owner cannot unilaterally repossess the items, even in cases of default or non-payment, unless otherwise specified by law or the contract. This clause provides certainty and security to the receiving party, ensuring they are not at risk of losing the goods unexpectedly, and helps prevent disputes over ownership or possession after delivery.
No Repossessions. None of the Financed Equipment securing any Receivable is in repossession status.
No Repossessions. No Receivable was secured by a Financed Vehicle that had been repossessed without reinstatement of the related contract.
No Repossessions. Each Receivable is secured by a Financed Vehicle that, as of the Cut-off Date, has not been repossessed without reinstatement of such Receivable.
No Repossessions. No Financed Vehicle securing any Standard Receivable or Fixed Value Receivable is in repossession status.
No Repossessions. No Financed Vehicle has been repossessed on or prior to the Cutoff Date.
No Repossessions. None of the Financed Equipment securing any Receivable is in repossession status. Receivable File CNH Computer System Information
No Repossessions. As of the Cutoff Date, no Financed Vehicle securing any Receivable is in repossession status.
No Repossessions. No Financed Vehicle has been repossessed prior to the Transfer Date.
No Repossessions. As of the Cut-off Date, no Financed Equipment securing any Receivable is in repossession status. Data tape Receivable File
No Repossessions. As of the Cut-off Date, no Financed Equipment securing any Receivable is in repossession status. Data tape Receivable File
i) Review the data tape and confirm the Financed Equipment was not marked as repossessed as of the Cut-off Date
ii) Review the Receivable File and confirm the Financed Equipment was not marked as repossessed as of the Cut-off Date
iii) If (i) and (ii) are confirmed, then Test Pass