Modified Receivables Clause Samples
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Modified Receivables. The APR of any Modified Receivable is equal to the APR of the related Deferred Payment Receivable. The date on which the final Scheduled Payment is due on a Modified Receivable is not different than the date set forth in the related Contract as the date on which the final Scheduled Payment under such Receivable is due. No Deferred Payment Receivable became a Modified Receivable after 90 days following the date the first Scheduled Payment on the Receivable was due.
Modified Receivables. The APR of any Modified Receivable is equal to the APR of the related Deferred Payment Receivable. The number of Scheduled Payments required to be made under any Modified Receivable as of the effective date of the modification of the terms of the related Deferred Payment Receivable is not less than the number of Scheduled Payments which would have remained due absent the modification after giving effect to all pre-payments by the related Obligor on such Deferred Payment Receivable.