Common use of Receivable in Force Clause in Contracts

Receivable in Force. The Receivable has not been satisfied, subordinated or rescinded nor has the related Financed Vehicle been released from the lien of such Receivable in whole or in part. Title Documents Data Tape i. Confirm there is no indication within the Title Documents or the Data Tape that the Receivable was satisfied prior to the Cut-Off Date. ii. Confirm there is no indication within the Title Documents or the Data Tape that the Receivable was subordinated or rescinded prior to the Cut-Off Date. iii. Confirm there is no indication within the Title Documents or the Data Tape that the Financed Vehicle has been released from the Lien in whole or in part prior to the Cut-Off Date. iv. If steps (i) through (iii) are confirmed, then Test Pass.