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 (f) the Obligor under each Receivable had a billing address in the United States or its territories or possessions, according to the records of the Servicer. 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. (c) Contract Rate i. Confirm that the Contract Rate stated within the contract is greater than or equal to 0.50% as of the Cutoff Date. (d) Past Due i. Review the Servicer’s records and confirm that the Receivable was not more than thirty (30) days past due as of the Cutoff Date. (e) New or Used Honda or Acura i. Confirm the Financed Vehicle is a new or used automobile or light-duty truck as stated within the New/Used section of the contract. (f) Billing Address i. Confirm the Receivable Files indicate that the Obligor’s address is located within the United States or its territories or possessions as of the Cutoff Date. (g) If (a) through (f) are confirmed, then Test Pass.

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 [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%[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 (f) the Obligor under each Receivable had a billing address in the United States or its territories or possessions, according to the records of the Servicer. 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 [72] payments. (c) Contract Rate i. Confirm that the Contract Rate stated within the contract is greater than or equal to 0.50% [0.50]% as of the Cutoff Date. (d) Past Due i. Review the Servicer’s records and confirm that the Receivable was not more than thirty (30) days past due as of the Cutoff Date. (e) New or Used Honda or Acura i. Confirm the Financed Vehicle is a new or used automobile or light-duty truck as stated within the New/Used section of the contract. (f) Billing Address i. Confirm the Receivable Files indicate that the Obligor’s address is located within the United States or its territories or possessions as of the Cutoff Date. (g) If (a) through (f) are confirmed, then Test Pass.