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Form #815

Agreement of Seller to Reimburse Finance Company

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Agreement of Seller to Reimburse Finance Company for Losses - free to use

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Agreement of seller to reimburse finance company for losses.

In consideration of your purchasing from us from time to time acceptable installment obligations of purchasers to whom we have delivered new or used passenger and commercial cars (excluding busses) covered by conditional sale contract ("contracts") to be assigned by us, such obligations being sold and delivered by us to you indorsed "without recourse" or without our endorsement, we agree that if you are obliged to repossess or foreclose upon any such automobiles for nonpayment of any installment or for any other reason, that we will assist you in every possible way to obtain repossession of such automobiles and that we will purchase each such automobile from you at place of repossession (in case of a conversion by purchaser you are to deliver car at our place of business) and pay you the unpaid balance of the obligation held by you. If any such automobiles shall have suffered material collision damage, you shall cause such damage to be repaired or shall make reasonable allowance to us to repair such damage.

You agree that our net losses, if any, arising out of the resale of cars so repurchased by us, out of the total number financed with you in each complete _________-month period following the date of this agreement, shall not exceed _________ percent of the total amount of obligations purchased by you from us during the same period, it being however mutually agreed that the total amount of obligations purchased by you from us shall in no event be deemed to be less than $_____, so far as the application of this limitation is concerned. "Net losses" shall mean the difference between the total sales price of all such cars to retail purchasers, and the amounts we paid you plus our actual cost of putting such cars in saleable condition.



 
Contributed by
Asian Investment Advisers
 
Name of Firm Asian Investment Advisers
Total Forms Contributed 61
 

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Terms Of Use

Submissions to this site, including any legal or business forms, posts, responses to questions or other communications by contributors are not intended as and should not be construed as legal advice. You are strongly encouraged to consult competent legal council before engaging in any action based upon content contained on this site.

These downloadable forms are only for personal use. Retransmission, redistribution, or any other commercial use is prohibited. This includes reposting forms from this site to another site offering free legal or other document forms for download.

Please note that the donator may have included different usage terms regarding this form, and you agree to abide by these terms. It is highly recommended that you have a licensed attorney review any legal documents for which you are searching in order to make sure that your needs are being properly and completely satisfied.

Your use of this site constitutes your acceptance of our terms of use and your agreement to hold this site, its officers, employees and any contributors to this site harmless for any damage you might incur from your use of any submissions contained on this site. If you do not agree to the above terms, please do not proceed.

These forms are provided to assist business owners and others in understanding important points to consider in different transactions. They are offered with the understanding that no legal advice, accounting, or other professional service is being offered by these documents or on this website. Laws vary in the different states. Agreements acceptable in one state may not be enforced the same way under the laws of another state. Also, agreements should relate specifically to the particular facts of each situation. Therefore, it is important to consult legal counsel whenever utilizing these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com is not engaged in recommending or referring members on the site or making claims about the competence, character or qualifications of its participating members.
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Keywords: Agreement, Seller, Reimburse, Finance Company, Losses, legal forms

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