Application of Collections. With respect to each Receivable (other than a Purchased Receivable), payments by or on behalf of the Obligor shall be applied to interest and principal in accordance with the Simple Interest Method.
Appears in 104 contracts
Samples: Sale and Servicing Agreement (World Omni Auto Receivables Trust 2013-A), Sale and Servicing Agreement (World Omni Select Auto Trust 2021-A), Sale and Servicing Agreement (World Omni Auto Receivables Trust 2022-A)
Application of Collections. With All payments received from or on behalf of an Obligor during each Collection Period with respect to each Receivable (other than a Purchased Receivable), payments by or on behalf of the Obligor shall be applied to interest and principal in accordance with the Simple Interest Method.
Appears in 10 contracts
Samples: Sale and Servicing Agreement (BMW Fs Securities LLC), Sale and Servicing Agreement (BMW Fs Securities LLC), Sale and Servicing Agreement (BMW Vehicle Owner Trust 2006-A)
Application of Collections. With respect to each Receivable (other than a Purchased Receivable), payments by or on behalf of the Obligor shall be applied to interest and principal in accordance with the [Simple Interest Method] [state other method].
Appears in 2 contracts
Samples: Receivables Servicing Agreement (Bear Stearns Asset Backed Funding Ii Inc), Bear Stearns Asset Backed Funding Inc
Application of Collections. With All payments received from or on behalf of an Obligor during each Collection Period with respect to each Receivable (other than a Purchased Receivable), payments by or on behalf of the Obligor ) shall be applied to interest and principal in accordance with the Simple Interest Method.Interest
Appears in 2 contracts
Samples: Sale and Servicing Agreement (Hyundai Abs Funding Corp), Sale and Servicing Agreement (Hyundai Abs Funding Corp)
Application of Collections. With respect to each -------------------------- Receivable (other than a Purchased Receivable), payments by or on behalf of the Obligor shall be applied to interest and principal in accordance with the Simple Interest Method.
Appears in 1 contract
Samples: Sale and Servicing Agreement (World Omni Auto Receivables LLC)
