Common use of Individual Characteristics Clause in Contracts

Individual Characteristics. Each Receivable has the following individual characteristics as of the Cutoff Date: (a) is not listed on the Servicer’s records as the subject of a pending bankruptcy proceeding; (b) had an original maturity of not greater than 72 payments; (c) provides for the payment of a finance charge or shall yield interest calculated on the basis of a Contract Rate of at least 0.50%; (d) has a Scheduled Payment that is not more than thirty (30) days past due; (e) the Financed Vehicle to which the Receivable relates is a new or used Honda or Acura automobile or light-duty truck; and Review Materials: (a) Installment sales contract (b) Servicer’s Records/Data file (c) Receivable Files Tests: (a) Bankruptcy i. Review the Servicer’s records and confirm that the Obligor was not the subject of a bankruptcy proceeding as of the Cutoff Date.

Individual Characteristics. Each Receivable has the following individual characteristics as of the Cutoff Date: (a) is not listed on the Servicer’s records as the subject of a pending bankruptcy proceeding; (b) had an original maturity of not greater than 72 payments; (c) provides for the payment of a finance charge or shall yield interest calculated on the basis of a Contract Rate of at least 0.50%; (d) has a Scheduled Payment that is not more than thirty (30) days past due; (e) the Financed Vehicle to which the Receivable relates is a new or used Honda or Acura automobile or light-duty truck; and Review Materials: (a) Installment sales contract (b) Servicer’s Records/Data file (c) Receivable Files Tests: (a) Bankruptcy i. Review the Servicer’s records and confirm that the Obligor was not the subject of a bankruptcy proceeding as of the Cutoff Date.

Individual Characteristics. Each Receivable has the following individual characteristics as of the Cutoff Date: (a) is not listed on the Servicer’s records as the subject of a pending bankruptcy proceeding; (b) had an original maturity of not greater than 72 payments; (c) provides for the payment of a finance charge or shall yield interest calculated on the basis of a Contract Rate of at least 0.50%; (d) has a Scheduled Payment that is not more than thirty (30) days past due; (e) the Financed Vehicle to which the Receivable relates is a new or used Honda or Acura automobile or light-duty truck; and Review Materials: (a) Installment sales contract (b) Servicer’s Records/Data file (c) Receivable Files Tests: (a) Bankruptcy i. Review the Servicer’s records and confirm that the Obligor was not the subject of a bankruptcy proceeding as of the Cutoff Date. (b) Original Maturity i. Confirm that the number of payments as stated within the contract does not exceed 72 payments.