Common use of Certain Characteristics of the Receivables Clause in Contracts

Certain Characteristics of the Receivables. (A) Each Receivable had a remaining maturity, as of the Cutoff Date, of not more than 72 months; (B) each Receivable had an original maturity, as of the Cutoff Date, of not more than 72 months; (C) as of the Cutoff Date, not more than 40% of Receivables (calculated by Aggregate Principal Balance) had an original term to maturity of 72 months; (D) as of the Cutoff Date, each Receivable had a remaining Principal Balance as of the Cutoff Date of at least $250 and not more than $80,000; (E) each Receivable has an Annual Percentage Rate of at least 1% and not more than 33%; (F) not more than 35% of the Obligors reside in Texas and California (based on the Obligor’s mailing address as of the Cutoff Date); (G) no Receivable was more than 30 days past due as of the Cutoff Date; (H) no funds have been advanced by AmeriCredit, any Dealer, any Third-Party Lender, or anyone acting on behalf of any of them in order to cause any Receivable to qualify under clause (G) above, (I) each Obligor had a billing address in the United States as of the date of origination of the Receivable, is a natural person and is not an Affiliate of any party to this Agreement, (J) each Receivable is denominated in, and each Contract provides for payment in United States dollars and (K) each Receivable arises under a Contract with respect to which AmeriCredit has performed all obligations required to be performed by it thereunder, and in the event such Contract is an installment sales contract, delivery of the Financed Vehicle to the related Obligor has occurred.

Appears in 1 contract

Samples: Sale and Servicing (AFS Funding Trust)

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Certain Characteristics of the Receivables. (A) Each Receivable had a remaining maturity, as of the Cutoff Date, of not more than 72 months; (B) each Receivable had an original maturity, as of the Cutoff Date, of not more than 72 months; (C) as of the Cutoff Date, not more than 4050% of Receivables (calculated by Aggregate Principal Balance) had an original term to maturity of 72 months; (D) as of the Cutoff Date, each Receivable had a remaining Principal Balance as of the Cutoff Date of at least $250 and not more than $80,000; (E) each Receivable has an Annual Percentage Rate of at least 1% and not more than 33%; (F) not more than 35% of the Obligors reside in Texas and California (based on the Obligor’s mailing address as of the Cutoff Date); (G) no Receivable was more than 30 days past due as of the Cutoff Date; (H) no funds have been advanced by AmeriCredit, any Dealer, any Third-Party Lender, or anyone acting on behalf of any of them in order to cause any Receivable to qualify under clause (G) above, ; (I) each Obligor had a billing address in the United States as of the date of origination of the Receivable, is a natural person and is not an Affiliate of any party to this Agreement, ; (J) each Receivable is denominated in, and each Contract provides for payment in United States dollars dollars; (K) each Receivable is identified on the Servicer’s master servicing records as an automobile installment sales contract or installment note; and (KL) each Receivable arises under a Contract with respect to which AmeriCredit has performed all obligations required to be performed by it thereunder, and in the event such Contract is an installment sales contract, delivery of the Financed Vehicle to the related Obligor has occurred.

Appears in 1 contract

Samples: Sale and Servicing Agreement (AmeriCredit Automobile Receivables Trust 2006-1)

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Certain Characteristics of the Receivables. (A) Each Receivable had a remaining maturity, as of the Cutoff Date, of not more than 72 months; (B) each Receivable had an original maturity, as of the Cutoff Date, of not more than 72 months; (C) as of the Cutoff Date, not more than 40% of Receivables (calculated by Aggregate Principal Balance) had an original term to maturity of 72 months; (D) as of the Cutoff Date, each Receivable had a remaining Principal Balance as of the Cutoff Date of at least $250 and not more than $80,000; (E) each Receivable has an Annual Percentage Rate of at least 1% and not more than 33%; (F) not more than 35% of the Obligors reside in Texas and California (based on the Obligor’s 's mailing address as of the Cutoff Date); (G) no Receivable was more than 30 days past due as of the Cutoff Date; (H) no funds have been advanced by AmeriCredit, any Dealer, any Third-Party Lender, or anyone acting on behalf of any of them in order to cause any Receivable to qualify under clause (G) above, (I) each Obligor had a billing address in the United States as of the date of origination of the Receivable, is a natural person and is not an Affiliate of any party to this Agreement, (J) each Receivable is denominated in, and each Contract provides for payment in United States dollars and (K) each Receivable arises under a Contract with respect to which AmeriCredit has performed all obligations required to be performed by it thereunder, and in the event such Contract is an installment sales contract, delivery of the Financed Vehicle to the related Obligor has occurred.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Americredit Automobile Receivables Trust 2005-1)

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