CERTAIN CHARACTERISTICS Clause Samples

The 'Certain Characteristics' clause defines specific attributes, qualities, or standards that a product, service, or party must possess under the agreement. In practice, this clause may outline requirements such as technical specifications, performance benchmarks, or compliance with industry standards, ensuring that what is delivered meets agreed-upon expectations. Its core function is to provide clear criteria for acceptability, reducing ambiguity and helping to prevent disputes over whether contractual obligations have been properly fulfilled.
CERTAIN CHARACTERISTICS. (A) Each Receivable had a remaining maturity, as of the Cutoff Date, of at least 2 months but not more than 240 months; (B) each Receivable had an original maturity of at least 12 months but not more than 240 months; (C) each Receivable had an original principal balance of at least $$1,313.31 and not more than $889,770.23; (D) each Receivable had a Principal Balance as of the Cutoff Date of at least $153.62 and not more than $873,403.15; (E) as of the Cutoff Date, each Receivable has an Annual Percentage Rate of at least 4.00% and not more than 18.50%; (F) approximately 50.52% of the aggregate Principal Balance of the Receivables (measured as of the Cutoff Date), constituting 56.18% of the number of such Receivables, were secured by used Financed Vehicles at the time such Receivables were originated; (G) no funds have been advanced by the Transferor, any Dealer, or any Person acting on behalf of any of them in order to cause any Transferor Receivable to qualify under paragraph (xxv) above; (H) as of the Cutoff Date, other than California (19.74%), Florida (9.20%), Oregon (6.93%) and Texas (11.06%), no State represented more than 5% of the Initial Pool Balance with respect to the billing addresses of the Obligors (as determined by reference to the records of DFS); and (I) the Principal Balance of each Transferor Receivable set forth in Schedule of Receivables is true and accurate in all material respects as of the Cutoff Date. As of the Cutoff Date, the sum of the Principal Balances of the Receivables which are Step Rate Receivables does not exceed 1% of the Initial Pool Balance. For purposes of determining whether the Transferor is obligated to purchase a Receivable on account of a breach of a representation and warranty pursuant to this Section 3.01 or indemnify in respect of such breach pursuant to the last paragraph of this Section 3.01, the determination as to whether a representation or warranty that is made to the knowledge of the Transferor has been breached shall be made without regard to such knowledge of the Transferor as if such representation and warranty were not qualified by the knowledge of the Transferor.
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CERTAIN CHARACTERISTICS. (A) Each Transferor Receivable had a remaining maturity, as of the Cutoff Date, of at least 1 month but not more than [ ] months; (B) each Transferor Receivable had an original maturity of at least [ ] months but not more than [ ] months; (C) each Transferor Receivable had an original principal balance of at least $[ ] and not more than $[ ]; (D) each Transferor Receivable had a Principal Balance as of the Cutoff Date of at least $[ ] and not more than $[ ]; (E) each Transferor Receivable has an Annual Percentage Rate of at least [ ]% and not more than [ ]%; (F) [ ]% of the Receivables when originated were secured by new Financed Vehicles; (G) no funds have been advanced by the Transferor, any Dealer, or any Person acting on behalf of any of them in order to cause any Transferor Receivable to qualify under paragraph (xxv) above; (H) no Transferor Receivable has a Final Scheduled Maturity Date on or before [ ] or later than [ ]; (I) as of the Cutoff Date, other than California ([ ]%), Florida ([ ]%), Oregon ([ ]%) and Texas ([ ]%), no State represented more than 5% by outstanding Pool Balance with respect to the location of the Financed Vehicles; and (J) the Principal Balance of each Transferor Receivable set forth in Schedule of Receivables is true and accurate in all material respects as of the Cutoff Date. For purposes of determining whether the Transferor is obligated to purchase a Transferor Receivable on account of a breach of representation and warranty pursuant to this Section 3.01 or indemnify in respect of such breach pursuant to the last paragraph of this Section 3.01, the determination as to whether a representation or warranty that is made to the knowledge of the Transferor has been breached shall be made without regard to such knowledge of the Transferor as if such representation and warranty were not qualified by the knowledge of the Transferor. Upon discovery by any party hereto of a breach of any of the representations and warranties of the Transferor set forth in this Section or of DFS set forth in Section 3.01 of the DFS/Ganis Transfer Agreement, in each case which materially and adversely affects the value of the Receivables or the interest therein of the Issuer or the Indenture Trustee (or which materially and adversely affects the interest of the Issuer or the Indenture Trustee in the related Receivable in the case of a representation and warranty relating to a particular Receivable), the party discovering such breach shall give prompt...
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CERTAIN CHARACTERISTICS. (A) Each Receivable had a remaining term, as of the Cut-Off Date, of at least 8 months but not more than 299 months; (B) each Receivable had an original term of at least 12 months but not more than 300 months; (C) each Receivable had a Principal Balance as of the Cut-Off Date of not more than $600,000; (D) as of the Cut-Off Date, each Receivable has an Annual Percentage Rate of at least 2.99% per annum and no greater than 14.99% per annum; (E) approximately 37.62% of the aggregate Principal Balance of the Receivables (measured as of the Cut-Off Date), constituting 42.81% of the number of such Receivables, were secured by used Financed Assets at the time such Receivables were originated; (F) no funds have been advanced by E*TRADE Consumer Finance, Transferor, any Dealer, any Affiliated Originator or any Person acting on behalf of any of them in order to cause any Receivable to qualify under paragraph (xxiv) above; (G) as of the Cut-Off Date, other than California (22.03%), Texas (9.03%), Florida (8.64%) and Washington (6.54%), no State represented more than 4.56% of the Initial Pool Balance with respect to the billing addresses of the Obligors (determined by reference to the books and records of E*TRADE Consumer Finance); (H) the Principal Balance of each Receivable set forth in Schedule of Receivables is true and accurate in all material respects as of the Cut-Off Date; (I) as of the Cut-Off Date, recreational vehicle Receivables represented 83.58% of the Initial Pool Balance and marine Receivables represented 16.42% of the Initial Pool Balance; (J) as of the Cut-Off Date, Receivables representing approximately 62.38% of the Initial Pool Balance were secured by new Financed Assets at the time such Receivables were originated, and Receivables representing approximately 37.62% of the Initial Pool Balance were secured by used Financed Assets at the time such Receivables were originated; (K) all Receivables in the Boat Mortgage Trust are related to Federally Documented Boats; (L) each Receivable was originated on or after September 1, 2003; and (M) approximately 34% of the Initial Pool Balance represented Receivables acquired by E*Trade Consumer Finance from Thor Credit Corporation (an affiliate thereof). For purposes of determining whether the Transferor is obligated to purchase a Receivable on account of a breach of a representation and warranty pursuant to this Section 3.01 or indemnify in respect of such breach pursuant Section 4.04(c), the determination a...
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CERTAIN CHARACTERISTICS. (A) No Receivable has an initial payment date more than three months subsequent to the related Cutoff Date; (B) No Receivable has a final scheduled payment date on or before the related Transfer Date; (C) The Principal Balance of each Receivable set forth in Schedule of Receivables is true and accurate in all material respects as of the related Cutoff Date; and (D) after giving effect to the conveyance of Receivables on each Transfer Date, (i) the aggregate of the Principal Balances of Receivables with original maturities ranging from 72 to 84 months shall not exceed 7.5% of the aggregate of the Principal Balances of all Receivables on such Transfer Date, and (ii) the aggregate of the Principal Balances of Receivables attributable to loans originated under OFL's "Classic" program shall not exceed 40% of the aggregate of the Principal Balances of all Receivables on such Transfer Date.
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CERTAIN CHARACTERISTICS. (A) Each Receivable had a remaining maturity, as of the Cutoff Date, of at least 3 months but not more than 84 months; (B) each Receivable had an original maturity of at least 12 months but not more than 84 months; (C) each Receivable had an original
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CERTAIN CHARACTERISTICS. (A) Each Receivable had a remaining maturity, as of the Cutoff Date, of not more than 59 months; (B) each Receivable had an original maturity of not more than 60 months; (C) each Receivable had a remaining Principal Balance as of the Cutoff Date of at least $250.00 and not more than $28,000; (D) each Receivable has an Annual Percentage Rate of at least 14.0% and not more than 33.0%; (E) no Receivable was more than 30 days past due as of the Cutoff Date and (F) no funds have been advanced by the Seller, AFS, any Dealer, or anyone acting on behalf of any of them in order to cause any Receivable to qualify under clause (E) above. SCHEDULE C SERVICING POLICIES AND PROCEDURES NOTE: APPLICABLE TIME PERIODS WILL VARY BY STATE COMPLIANCE WITH STATE COLLECTION LAWS IS REQUIRED OF ALL AMERICREDIT COLLECTION PERSONNEL. ADDITIONALLY, AMERICREDIT HAS CHOSEN TO FOLLOW THE GUIDELINES OF THE FEDERAL FAIR DEBT COLLECTION PRACTICES ACT (FDCPA). THE COLLECTION PROCESS Customer is issued a monthly billing statement 16 to 20 days before payment is due. A. All accounts are issued to the Computer Assisted Collection System (CACS) at 5 days delinquent or at such other dates of delinquency as determined by historical payment patterns of the account. B. Accounts are then segregated into two groups, those less than 30 days delinquent and those over 30 days delinquent. C. Accounts less than 30 days delinquent are further segregated into accounts that have good residential and business phone numbers and those that do not. D. For those that have good phone numbers, they are assigned to the Melita Group. E. For those without good phone numbers, they are assigned to the front-end collector. F. In both groups, all reasonable collection efforts are made to avoid the account rolling over 30 days delinquent, including the use of collection letters. Collection Letters may be utilized between 15 and 25 days delinquent. G. At the time the account reaches 31 days delinquent, it is assigned to a mid-range collector. At this time the collector identifies the necessity of any default notification required by state law. H. Once the account exceeds 60 days in delinquency, it is assigned to a hard-core collector. The hard-core collector then continues the collection effort. If the account cannot be resolved through normal collection efforts, i.e. satisfactory payment arrangements, then the account may be submitted for repossession approval, either voluntary or by an approved outside contractor or if n...
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Related to CERTAIN CHARACTERISTICS

  • Certain Characteristics of the Receivables (A) Each Receivable had a remaining maturity, as of the Cutoff Date, of not less than three (3) months and not more than eighty-four (84) months. (B) Each Receivable had an original maturity, as of the Cutoff Date, of not less than three (3) months and not more than eighty-four (84) months. (C) Each Receivable had a remaining Principal Balance, as of the Cutoff Date, of at least $250 and not more than $150,000. (D) Each Receivable had an Annual Percentage Rate, as of the Cutoff Date, of not more than 20%. (E) No Receivable was more than thirty (30) days past due as of the Cutoff Date. (F) Each Receivable arose under a Contract that is governed by the laws of the United States or any State thereof. (G) Each Obligor had a billing address in the United States or a United States territory as of the date of origination of the related Receivable. (H) Each Receivable is denominated in, and each Contract provides for payment in, United States dollars. (I) Each Receivable arose under a Contract that is assignable without the consent of, or notice to, the Obligor thereunder, and does not contain a confidentiality provision that purports to restrict the ability of the Servicer to exercise its rights under the Sale and Servicing Agreement, including, without limitation, its right to review the Contract. Each Receivable prohibits the sale or transfer of the Financed Vehicle without the consent of the Servicer. (J) Each Receivable arose under a Contract with respect to which GM Financial has performed all obligations required to be performed by it thereunder. (K) No automobile related to a Receivable was held in repossession inventory as of the Cutoff Date. (L) The Servicer’s records do not indicate that any Obligor was in bankruptcy as of the Cutoff Date. (M) No Obligor is the United States of America or any State or any agency, department, subdivision or instrumentality thereof.

  • Characteristics The Contracts have the following characteristics: (i) all the Contracts are secured by Motorcycles; (ii) no Contract has a remaining maturity of more than 84 months; and (iii) the final scheduled payment on the Contract with the latest maturity is due no later than September 6, 2031. Approximately 74.40% of the Pool Balance as of the Cutoff Date is attributable to loans for purchases of new Motorcycles and approximately 25.60% is attributable to loans for purchases of used Motorcycles. No Contract was originated after the Cutoff Date. No Contract has a Contract Rate less than 0.010%.

  • Mortgage Loan Characteristics The characteristics of the related Mortgage Loan Package are as set forth on the description of the pool characteristics for the applicable Mortgage Loan Package delivered pursuant to Section 11 on the related Closing Date in the form attached as Exhibit B to each related Assignment and Conveyance Agreement;

  • Physical File Characteristics 6.2.1 The Optional Daily Usage File will be distributed to CLEC-1 via an agreed medium with CONNECT:Direct being the preferred transport method. The Daily Usage Feed will be a variable block format (2476) with an LRECL of 2472. The data on the Daily Usage Feed will be in a non-compacted EMI format (175 byte format plus modules). It will be created on a daily basis (Monday through Friday except holidays). Details such as dataset name and delivery schedule will be addressed during negotiations of the distribution medium. There will be a maximum of one dataset per workday per OCN. 6.2.2 Data circuits (private line or dial-up) may be required between BellSouth and CLEC-1 for the purpose of data transmission. Where a dedicated line is required, CLEC-1 will be responsible for ordering the circuit, overseeing its installation and coordinating the installation with BellSouth. CLEC-1 will also be responsible for any charges associated with this line. Equipment required on the BellSouth end to attach the line to the mainframe computer and to transmit successfully ongoing will be negotiated on a case by case basis. Where a dial-up facility is required, dial circuits will be installed in the BellSouth data center by BellSouth and the associated charges assessed to CLEC-1. Additionally, all message toll charges associated with the use of the dial circuit by CLEC-1 will be the responsibility of CLEC-1. Associated equipment on the BellSouth end, including a modem, will be negotiated on a case by case basis between the parties. All equipment, including modems and software, that is required on CLEC-1 end for the purpose of data transmission will be the responsibility of CLEC-1.

  • Certain Changes The Administrator may accelerate the date on which the restrictions on transfer set forth in Section 2(b) hereof shall lapse or otherwise adjust any of the terms of the Restricted Shares; provided that, subject to Section 5 of the Plan, no action under this Section shall adversely affect the Participant’s rights hereunder.