Common use of Initial Receivables Clause in Contracts

Initial Receivables. In addition to the characteristics set forth in Section 4.01(a)(i) above, each Initial Receivable (1) has a first scheduled payment due date on or after November 1, 1998, (2) has a final scheduled payment that is due no later than January 31, 2010, (3) was originated on or after October 1, 1998, (4) as of the Initial Cutoff Date, was not considered past due, that is, the payments due on that Initial Receivable in excess of $25 have been received within 30 days of the payment date, and was not a Liquidating Receivable. In addition, with respect to the Initial Receivables, Scheduled Interest Receivables represent (based on Principal Balances) 38% of the Initial Aggregate Principal Balance, with the balance of the Initial Receivables being Simple Interest Receivables.

Initial Receivables. In addition to the characteristics set forth in Section 4.01(a)(i) above, each Initial Receivable (1) has a first scheduled payment due date on or after November 1, 1998, (2) has a final scheduled payment that is due no later than January 31, 2010, (3) was originated on or after October 1, 1998, (4) as of the Initial Cutoff Date, was not considered past due, that is, the payments due on that Initial Receivable in excess of $25 have been received within 30 thirty (30) days of the payment date, and was not a Liquidating Receivable. In addition, with respect to the Initial Receivables, Scheduled Interest Receivables represent (based on Principal Balances) 3827.46% of the Initial Aggregate Principal BalanceAmount Financed, with the balance of the Initial Receivables being Simple Interest Receivables.

Initial Receivables. In addition to the characteristics set forth in Section 4.01(a)(i) above, each Initial Receivable (1) has a first scheduled payment due date on or after November 1, 1998, (2) has a final scheduled payment that is due no later than January 31June 30, 20102007, (3) was originated on or after October September 1, 1998, (4) as of the Initial Cutoff Date, was not considered past due, that is, the payments due on that Initial Receivable in excess of $25 have been received within 30 days of the scheduled payment date, date and such Initial Receivable was not a Liquidating Receivable. In addition, with respect to the Initial Receivables, Scheduled Interest Receivables represent (based on Principal Balances) 3811% of the Initial Aggregate Principal Balance, with the balance of the Initial Receivables being Simple Interest Receivables.