Characteristics of Loans Sample Clauses

Characteristics of Loans. Each Loan:
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Characteristics of Loans. Each Loan (A) was originated in the United States of America by a Dealer located in the United States of America or by the Loan Seller through such Dealer, to finance the retail sale of a Financed Vehicle, in the ordinary course of business in accordance with the Loan Seller’s credit policies as of the date of origination or acquisition of the related Loan, is payable in United States dollars, has been fully and properly executed by the parties thereto, has been originated by the Loan Seller through or purchased by the Loan Seller from such Dealer under an existing Dealer Agreement (or approved form of assignment) and, in the case of each Loan originated by a Dealer and sold to the Loan Seller, has been validly assigned by such Dealer to the Loan Seller without recourse to the Dealer for any credit-related losses, (B) contains customary and enforceable provisions such that the rights and remedies of the holder thereof are adequate for realization against the collateral of the benefits of the security, (C) provides for fixed level monthly payments (provided, however, that the payment in the last month of the term of the Loan may not differ in any material respect from the level scheduled payments) that fully amortize the Amount Financed by maturity and yield interest at the APR, and (D) amortizes using the Simple Interest Method.
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Characteristics of Loans. Each Loan: (A) was originated in the United States of America by GE Capital in connection with the financing of Equipment in the ordinary course of business of GE Capital and was fully and properly executed by the parties thereto, (B) has created a valid, subsisting and enforceable first priority security interest (except to the extent the Equipment secures any receivable that is cross-collateralized with such Loan) in the Equipment in favor of GE Capital that, as of the Closing Date, has been assigned by GE Capital to the Purchaser, and (C) contains customary and enforceable provisions such that the rights and remedies of the holder thereof are adequate for realization against the collateral of the benefits of the security.
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Characteristics of Loans. Such Loan: (A) was originated in the United States of America by GE Capital in connection with the financing of Equipment in the ordinary course of business of GE Capital and was fully and properly executed by the parties thereto, (B) has created a valid, subsisting and enforceable first priority security interest (except to the extent the Equipment secures any receivable that is cross-collateralized with such Loan) in the Equipment in favor of GE Capital that, as of the Closing Date, has been assigned by GE Capital to Seller, and by Seller to Purchaser and (C) contains customary and enforceable provisions such that the rights and remedies of the holder thereof are adequate for realization against the collateral of the benefits of the security.
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Characteristics of Loans. Each Receivable (i) was originated by a Dealer in the ordinary course of such Dealer’s business and such Dealer had all necessary licenses and permits to originate Receivables in the state where such Dealer was located; (ii) was duly and properly executed by the parties thereto, was purchased by the Originator from a Dealer under an existing agreement with a Dealer pursuant to which the Originator acquired Receivables in the ordinary course of business with the Originator and was validly assigned by such Dealer to the Originator; (iii) contains customary and enforceable provisions such as to render the rights and remedies of the holder thereof adequate for realization against the collateral security; (iv) is fully amortizing and provides for level monthly payments (provided that the payment in the first monthly period and the final monthly period of the life of the Receivable may be minimally different from the level payment) which, if made when due shall fully amortize the amount financed over the original term and yield interest at the Contract Rate; (v) is a fixed rate, simple interest loan; and (vi) shall provide for, in the event that such Receivable is prepaid, a prepayment that fully pays the principal balance and includes any accrued and unpaid interest due pursuant to the related contract through the date of prepayment in an amount at least equal to the Contract Rate.
Sample 1
Characteristics of Loans. All of the Notes and other Loan Documents purchased by the Board pursuant to the Note Purchase Documents:
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Characteristics of Loans. Each FreedomNation Receivable (A) was originated by (i) a Dealer in the ordinary course of such Dealer's business and such Dealer had all necessary licenses and permits to originate FreedomNation Receivables in the state where such Dealer was located or (ii) directly by the FreedomNation Originator, (B) was duly and properly executed by the parties thereto, was (i) purchased by the FreedomNation Originator from a Dealer under an existing agreement with a Dealer pursuant to which the FreedomNation Originator acquired FreedomNation Receivables in the ordinary course of business with the FreedomNation Originator and was validly assigned by such Dealer to the FreedomNation Originator or (ii) originated directly by the FreedomNation Originator, (C) contains customary and enforceable provisions such as to render the rights and remedies of the holder thereof adequate for realization against the collateral security, (D) is fully amortizing and provides for level monthly payments (provided that the payment in the first monthly period and the final monthly period of the life of the FreedomNation Receivable may be minimally different from the level payment) which, if made when due shall fully amortize the amount financed over the original term and yield interest at the Contract Rate, (E) is a fixed rate, simple interest loan and (F) shall provide for, in the event that such FreedomNation Receivable is prepaid, a prepayment that fully pays the principal balance and includes any accrued and unpaid interest due pursuant to the related contract through the date of prepayment in an amount at least equal to the Contract Rate.
Sample 1
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Related to Characteristics of Loans

  • CHARACTERISTICS OF THE ACADEMY 10) The characteristics of the Academy set down in Section 1(6) of the Academies Act 2010, are that:

  • Various Types of Loans Each Revolving Loan shall be divided into tranches which are, either a Base Rate Loan or a LIBOR Loan (each a “type” of Loan), as the Company shall specify in the related notice of borrowing or conversion pursuant to Section 2.2.2 or 2.2.3. LIBOR Loans having the same Interest Period which expire on the same day are sometimes called a “Group” or collectively “Groups”. Base Rate Loans and LIBOR Loans may be outstanding at the same time, provided that not more than six (6) different Groups of LIBOR Loans shall be outstanding at any one time. All borrowings, conversions and repayments of Revolving Loans shall be effected so that each Lender will have a ratable share (according to its Pro Rata Share) of all types and Groups of Loans.

  • Types of Loans Subject to Section 3.03, each Borrowing shall be comprised entirely of ABR Loans or Eurodollar Loans as the Borrower may request in accordance herewith. Each Lender at its option may make any Eurodollar Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement.

  • Characteristics of Receivables As of the Cut-Off Date (or such other date as may be specifically set forth below), each Receivable:

  • Type of Loans Subject to Section 2.12, each Borrowing shall be comprised entirely of ABR Loans or Eurodollar Loans as the Borrower may request in accordance herewith. Each Lender at its option may make any Eurodollar Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement.

  • Characteristics The Initial Contracts have the following characteristics: (i) all the Contracts are secured by Motorcycles; (ii) no Initial Contract has a remaining maturity of more than 84 months; and (iii) the final scheduled payment on the Initial Contract with the latest maturity is due not later than June 2014. Approximately 77.89% of the Principal Balance of the Initial Contracts as of the Initial Cutoff Date is attributable to loans for purchases of new Motorcycles and approximately 22.11% is attributable to loans for purchases of used Motorcycles. No Initial Contract was originated after the Initial Cutoff Date. No Initial Contract has a Contract Rate less than 3.989%. The last scheduled payment date of the Contracts (including any Subsequent Contracts) is due not later than September 2014. Approximately 98.98% of the Principal Balance of the Initial Contracts as of the Initial Cutoff Date is attributable to loans to purchase Motorcycles manufactured by Harley-Davidson or Buell and approximately 1.02% of the Principal Balance of the Initial Contracts as of the Initial Cutoff Date is attributable to loans to purchase Motorcycles not manufactured by Harley-Davidson or Buell.

  • Conditions of Loans 10 3.1 Conditions Precedent to Initial Credit Extension...............................................10 3.2 Conditions Precedent to all Credit Extensions..................................................10

  • Classifications of Loans and Borrowings For purposes of this Agreement, Loans may be classified and referred to by Class (e.g. a “Revolving Loan” or “Term Loan”) or by Type (e.g. a “Eurodollar Loan” or “Base Rate Loan”) or by Class and Type (e.g. “Revolving Eurodollar Loan”). Borrowings also may be classified and referred to by Class (e.g. “Revolving Borrowing”) or by Type (e.g. “Eurodollar Borrowing”) or by Class and Type (e.g. “Revolving Eurodollar Borrowing”).

  • 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;

  • Types of Loans and Borrowings For purposes of this Agreement, Loans and Borrowings, respectively, may be classified and referred to by Type (e.g., a “Eurodollar Loan” or a “Eurodollar Borrowing”).

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