![]() ![]() Limited to the amount Dealer collected and retained or otherwise received, directly or indirectly, in connection with the sale of the APS. ![]() Dealers liability under this Section shall be As between NFI and Dealer, Dealer agrees to pay to NFI, as appropriate, any refund due to Buyer under the terms of an APS Contract. Upon cancellation, Buyer shall be entitled to a refund of the unearned portion of the cash price of the APS as provided in the APS Contract orĪs may otherwise be required by law, whichever is greater. Upon such cancellation, Dealer shall immediately notify NFI that the Buyer has canceled the APS. If APS has been sold by the Dealer and financed in a Contract purchased by NFI, Dealer agrees that such APS shall be cancelable upon demandīy Buyer. In addition, the term shall include other products and services acceptable to and approved in writing by NFI from time to time.Ĭancellation of APS. ∺dd-on Products and Services, or ∺PS, shall mean service contracts, mechanical breakdown contracts, GAP contracts, credit lifeĪnd credit accident and health insurance. Timing of indemnification is within 7 days of demand by NFI.ĭefined. (Collectively Claims) arising out of connected with or relating to the Contract or the goods or services sold there Suits, administrative or other proceedings, cost (including reasonable attorneys fees), expenses, losses, and liabilities. Indemnity : As a separate and cumulative obligation, Dealer shall defend and hold NFI harmless from any and all claims, defenses, offsets, damages, Law, all documents required to properly perfect the valid and enforceable first priority security interest of NFI in the Vehicle (2) send NFI the filing receipts reflecting said perfection. Shall be subject to Repurchase for the life of the Contract if NFI suffers a loss due to the Dealerships failure to (1) file and record, within 20 days of the date of the Contract or within a lesser time period if required by applicable Period if required by applicable law, file and record all documents necessary to properly perfect the valid and enforceable first priority security interest of NFI in the Vehicle and shall send NFI all security interest filing receipts. Perfection of Security Interest: For each Contract purchased by NFI, Dealer shall, within 20 days of the date of the Contract or within a lesser time The amount is disclosed on each transaction and is set by Nicholas Financial, Inc. Processing charge are taken from Dealer Proceeds and are Non-Refundable. ![]() This Agreement, and sums payable hereunder, may not be assigned by Dealer without written consent of NFI.ĭealer acknowledges that NFI charges an acquisition fee and a $75.00 loan processing charge on all contracts purchased and funded by NFI. Upon purchase by NFI of any contracts hereunder from dealer, dealer shall endorse and assign to NFI the obligations and all pertinent security, security instruments,Īlong with such provisional endorsements as may be stipulated for such contracts purchased by NFI. It is understood that NFI shall have the sole discretion to determine which Contracts it will purchase from Dealer.ĭealer represents and warrants that Contracts submitted to NFI for purchase shall represent valid, bonefide sales for the respective amount therein set forth in suchĬontracts and that such Contracts represent sales of motor vehicles owned by the Dealer and are free and clear of all liens and encumbrances. Retail Installment contracts, Conditional Sales Contracts, or other instruments hereinafter referred to as ∼ontracts, evidencing installment payment obligations owing Dealer arising from the time sale of motor vehicle(s) and secured by ![]() (NFI), from time to time, Promissory Notes, Security Agreements, The undersigned Dealer proposes to sell to the undersigned Nicholas Financial, Inc. ![]()
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