Interest Accruing. Each CNHCA Receivable, other than those CNHCA Receivables consisting of Contracts that contain interest waivers for a specified period of time, is, as of the Closing Date or a Subsequent Transfer Date, as applicable, accruing interest; no CNHCA Receivable contains an interest waiver extending more than 12 months after the Initial Cutoff Date.
Appears in 2 contracts
Sources: Purchase Agreement (CNH Equipment Trust 2005-A), Purchase Agreement (CNH Capital Receivables Inc)