Common use of Scheduled Payments; Delinquency Clause in Contracts

Scheduled Payments; Delinquency. As of the applicable Cutoff Date, each Designated Receivable being purchased on the Closing Date had a first scheduled payment that was due on or before October 31, 1997; as of the applicable Cutoff Date, each Designated Receivable being purchased after the Closing Date had a first scheduled payment that was due on or before the last day of the Monthly Period next following the Monthly Period in which such Cutoff Date occurs; as of the applicable Cutoff Date, no Designated Receivable had a payment that was more than 60 days past due; as of the related Purchase Date, no Designated Receivable had a final scheduled payment that is due later than July 31, 2004.

Scheduled Payments; Delinquency. As of the applicable Initial Cutoff Date, each Designated Receivable being purchased on the Closing Date had a first scheduled payment that was due on or before October 31June 30, 19972003; as of the applicable Cutoff Date, each Designated Receivable being purchased after during the Closing Date Funding Period had or will have a first scheduled payment that was due on or before the last day of the Monthly Period next following the Monthly Period in which such Cutoff Date occurs; as of the applicable Cutoff Date, no Designated Receivable had or will have a payment that was more than 60 days past due; and as of the related Purchase Date, no Designated Receivable had or will have a final scheduled payment that is due later than July October 31, 20042009.

Scheduled Payments; Delinquency. As of the applicable Initial Cutoff Date, each ------------------------------- Designated Receivable being purchased on the Closing Date had a first scheduled payment that was due on or before October 31February 29, 19972000; as of the applicable Cutoff Date, each Designated Receivable being purchased after during the Closing Date Funding Period had a first scheduled payment that was due on or before the last day of the Monthly Period next following the Monthly Period in which such Cutoff Date occurs; as of the applicable Cutoff Date, no Designated Receivable had a payment that was more than 60 days past due; as of the related Purchase Date, no Designated Receivable had a final scheduled payment that is due later than July May 31, 20042006.

Scheduled Payments; Delinquency. (i) As of the applicable Cutoff Date, each Designated Receivable being purchased on the Closing Date had a first scheduled payment that was due on or before October May 31, 19972010; (ii) as of the applicable Cutoff Date, each Designated Receivable being purchased after the Closing Date had a first scheduled payment that was due on or before the last day of the Monthly Period next following the Monthly Period in which such Cutoff Date occurs; as of the applicable Cutoff Date, no Designated Receivable had or will have a payment that was more than 30 days past due (measured from the date of any Scheduled Payment); (iii) as of the Cutoff Date, no Eligible Restructured Receivable has had a payment more than 60 days past duedue since the date of its amendment or restructuring; and (iv) as of the related Purchase Date, no Designated Receivable had or will have a final scheduled payment that is due later than July 31April 30, 20042017.

Scheduled Payments; Delinquency. As of the applicable Cutoff Date, -------------------------------- each Designated Receivable being purchased on the Closing Date had a first scheduled payment that was due on or before October 31, 19971995; as of the applicable Cutoff Date, each Designated Receivable being purchased after the Closing Date had a first scheduled payment that was due on or before the last day of the Monthly Period next following the Monthly Period in which such Cutoff Date occurs; as of the applicable Cutoff Date, no Designated Receivable had a payment that was more than 60 days past due; as of the related Purchase Date, no Designated Receivable had a final scheduled payment that is due later than July March 31, 20042002.

Scheduled Payments; Delinquency. As of the applicable Initial Cutoff Date, each Designated Receivable being purchased on the Closing Date had a first scheduled payment that was due on or before October 31, 19972002; as of the applicable Cutoff Date, each Designated Receivable being purchased after during the Closing Date Funding Period had or will have a first scheduled payment that was due on or before the last day of the Monthly Period next following the Monthly Period in which such Cutoff Date occurs; as of the applicable Cutoff Date, no Designated Receivable had or will have a payment that was more than 60 days past due; and as of the related Purchase Date, no Designated Receivable had or will have a final scheduled payment that is due later than July 31September 30, 20042009.