Simple Interest Contracts Clause Samples

Simple Interest Contracts. As of the Cut-Off Date, approximately _____% of the aggregate Scheduled Balances of the Contracts shall be Simple Interest Contracts and approximately _____% of the aggregate Scheduled Balances of the Contracts shall be Rule of 78's Contracts.
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Simple Interest Contracts. With respect to each Contract owned by WFS at the Statistical Calculation Date, as of the Statistical Calculation Date, approximately 99.38% of the Contracts by Statistical Calculation Date Principal Balance shall be Simple Interest Contracts and approximately 0.62% of the Contracts by Statistical Calculation Date Principal Balance shall be Rule of 78's Contracts.
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Simple Interest Contracts. Except in the case of Precomputed Contracts that collectively satisfy the criterion set forth in paragraph 1(I) of this Schedule B, each Contract is a Simple Interest Contract and provides that all allocations of payments with respect to principal and interest, and the determination of periodic charges and the like, are made using the Simple Interest Method, based on the actual number of days elapsed and the actual number of days in the calendar year.
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Simple Interest Contracts. As of the Statistical Calculation Date, approximately % of the Contracts by Statistical Calculation Date Principal Balance shall be Simple Interest Contracts and approximately % of the Contracts by Statistical Calculation Date Principal Balance shall be Rule of 78's Contracts.
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Simple Interest Contracts. As of the Statistical Calculation Date, approximately _____% of the aggregate Principal Balances of the Contracts shall be Simple Interest Contracts and approximately ____% of the aggregate Principal Balances of the Contracts shall be Rule of 78's Contracts.
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Simple Interest Contracts. With respect to each Contract owned by WFS at the Statistical Calculation Date, as of the Statistical Calculation Date, approximately 99.38% of the Contracts by Statistical Calculation Date, Principal Balance shall be Simple Interest Contracts and approximately 0.62% of the Contracts by Statistical Calculation Date Principal Balance shall be Rule of 78’s Contracts. xxv. New or Pre-owned Vehicles. At least 33.30% of the Contracts owned by WFS at the Statistical Calculation Date by Statistical Calculation Date Principal Balance were Contracts that financed new vehicles and not greater than 66.70% were Contracts that financed pre-owned vehicles.
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Related to Simple Interest Contracts

  • Simple Interest Each Receivable provides for scheduled monthly payments that fully amortize the Amount Financed by maturity (except for minimally different payments in the first or last month in the life of the Receivable) and provides for a finance charge or yield interest at its APR, in either case calculated based on the Simple Interest Method.

  • Cut-Off Date Aggregate Principal Balance The Cut-Off Date Aggregate Principal Balance is $850,069,757.10

  • Periodic Interest Periodic Interest will be payable on each Tranche of the Recovery Bonds on each Payment Date in an amount equal to one-half of the product of (i) the applicable Recovery Bond Interest Rate and (ii) the Outstanding Amount of the related Tranche of Recovery Bonds as of the close of business on the preceding Payment Date after giving effect to all payments of principal made to the Holders of the related Tranche of Recovery Bonds on such preceding Payment Date; provided, however, that with respect to the Initial Payment Date, or, if no payment has yet been made, interest on the outstanding principal balance will accrue from and including the Closing Date to, but excluding, the following Payment Date.

  • Mortgage Payments Received After Transfer Date The amount of any related Monthly Payments received by the Seller after the related Transfer Date shall be forwarded to the Purchaser by overnight mail within one (1) Business Day following the date of receipt. The Seller shall notify the Purchaser of the particulars of the payment, which notification requirement shall be satisfied if the Seller forwards with its payment sufficient information to permit appropriate processing of the payment by the Purchaser. The Seller shall assume full responsibility for the necessary and appropriate legal application of such Monthly Payments received by the Seller after the related Transfer Date with respect to related Mortgage Loans then in foreclosure or bankruptcy; provided, for purposes of this Agreement, necessary and appropriate legal application of such Monthly Payments shall include, but not be limited to, endorsement of a Monthly Payment to the Purchaser with the particulars of the payment such as the account number, dollar amount, date received and any special Mortgagor application instructions and the Seller shall comply with the foregoing requirements with respect to all Monthly Payments received by it after the related Transfer Date.

  • Calculations Respecting Accrued Interest Accrued interest on any Certificate shall be calculated based upon a 360-day year consisting of twelve 30-day months and Pass-Through Rates shall be carried out to eight decimal places, rounded if necessary. All dollar amounts calculated hereunder shall be rounded to the nearest ▇▇▇▇▇.