Obligation to Restore. In the event of any physical loss or damage to a Financed Vehicle related to a Receivable from any cause, whether through accidental means or otherwise, the Servicer shall have no obligation to cause the affected Financed Vehicle to be restored or repaired. However, the Servicer shall comply with the provisions of any insurance policy or policies directly or indirectly related to any physical loss or damage to a Financed Vehicle.
Appears in 17 contracts
Sources: Loan Agreement (Lendbuzz Inc.), Loan Agreement (Lendbuzz Inc.), Loan Agreement (Lendbuzz Inc.)
Obligation to Restore. In the event of any physical loss or damage to a Financed Vehicle related to a Receivable from any cause, whether through accidental means or otherwise, the Servicer shall have no obligation to cause not expend funds for the affected repair or the repossession of such Financed Vehicle to be restored unless the Servicer shall determine in its discretion that such repair or repairedrepossession would increase the Recoveries in an amount greater than the cost of repairs. However, the Servicer shall comply with the provisions of any insurance policy Insurance Policy or policies directly or indirectly related to any physical loss or damage to a Financed Vehicle.
Appears in 3 contracts
Sources: Warehouse Agreement (Vroom, Inc.), Warehouse Agreement (Vroom, Inc.), Warehouse Agreement (Vroom, Inc.)
Obligation to Restore. In the event of any physical loss or damage to a Financed Vehicle related to a Receivable from any cause, whether through accidental means or otherwise, the Servicer shall have no obligation to cause the affected such Financed Vehicle to be restored or repaired. However, the Servicer shall comply in all material respects with the provisions of any insurance policy Insurance Policy or policies Insurance Policies directly or indirectly related to any physical loss or damage to a Financed Vehicle.
Appears in 2 contracts
Sources: Credit Agreement (Regional Management Corp.), Credit Agreement (Regional Management Corp.)
Obligation to Restore. In the event of any physical loss or damage to a Financed Vehicle related to a Collateral Receivable from any cause, whether through accidental means or otherwise, the Servicer shall have no obligation to cause the affected Financed Vehicle to be restored or repaired. However, the Servicer shall comply with the provisions of any insurance policy Insurance Policy or policies Insurance Policies directly or indirectly related to any physical loss or damage to a Financed Vehicle.
Appears in 2 contracts
Sources: Amended and Restated Revolving Credit and Security Agreement (Lendbuzz Inc.), Revolving Credit and Security Agreement (Lendbuzz Inc.)
Obligation to Restore. In the event of any physical loss or damage to a Financed Vehicle related to a Receivable from any cause, whether through accidental means or otherwise, the Servicer shall have no obligation to cause the affected Financed Vehicle to be restored or repaired. However, the Servicer shall comply with the provisions of any insurance policy or policies directly or indirectly related to any physical loss or damage to a Financed Vehicle.
Appears in 2 contracts
Sources: Loan Agreement (Lendbuzz Inc.), Loan Agreement (Lendbuzz Inc.)
Obligation to Restore. In the event of any physical loss or damage to a Financed Vehicle related to a Receivable from any cause, whether through accidental means or otherwise, the Servicer shall have no obligation to cause the affected Financed Vehicle to be restored or repaired. However, the Servicer shall comply with the provisions of any insurance policy Insurance Policy or policies Insurance Policies directly or indirectly related to any physical loss or damage to a Financed VehicleVehicle as provided in this Agreement.
Appears in 1 contract
Obligation to Restore. In the event of any physical loss or damage to a Financed Vehicle related to a Receivable from any cause, whether through accidental means or otherwise, the Servicer shall have no obligation to cause the affected Financed Vehicle to be restored or repaired. However, the Servicer shall comply in all material respects with the provisions of any insurance policy or policies directly or indirectly related to any physical loss or damage to a Financed Vehicle.
Appears in 1 contract
Sources: Investment Agreement (Santander Holdings USA, Inc.)
Obligation to Restore. In the event of any physical loss or damage to a Financed Vehicle related to a Receivable from any cause, whether through accidental means or otherwise, the Servicer shall have no obligation to cause the affected Financed Vehicle to be restored or repaired. However, the Servicer shall comply with the provisions of any insurance policy Insurance Policy or policies Insurance Policies directly or indirectly related to any physical loss or damage to a Financed Vehicle.
Appears in 1 contract
Obligation to Restore. In the event of any physical loss or damage to a Financed Vehicle related to a Receivable Pledged Contract from any cause, whether through accidental means or otherwise, the Servicer shall have no obligation to cause the affected Financed Vehicle to be restored or repaired. However, the Servicer shall comply with the provisions of any insurance policy Insurance Policy or policies Insurance Policies directly or indirectly related to any physical loss or damage to a such Financed VehicleVehicle as provided in this Agreement.
Appears in 1 contract