Common use of Used Vehicles Clause in Contracts

Used Vehicles. As of the Cutoff Date, the Principal Balance of Loans to be conveyed by the Loan Seller on the Closing Date that are secured by Financed Vehicles that are used (rather than new) vehicles represent no more than 45.85% of the aggregate Principal Balance of the outstanding Loans.

Appears in 1 contract

Sources: Asset Purchase Agreement (Huntington Auto Trust 2012-1)

Used Vehicles. As of the Cutoff Date, the Principal Balance of Loans to be conveyed by the Loan Seller on the Closing Date that are secured by Financed Vehicles that are used (rather than new) vehicles represent no more than 45.85[ ]% of the aggregate Principal Balance of the outstanding Loans.

Appears in 1 contract

Sources: Asset Purchase Agreement (Huntington Funding, LLC)

Used Vehicles. As of the Cutoff Date, the Principal Balance of Loans to be conveyed by the Loan Seller on the Closing Date that are secured by Financed Vehicles that are used (rather than new) vehicles represent no more than 45.8551.06% of the aggregate Principal Balance of the outstanding Loans.

Appears in 1 contract

Sources: Asset Purchase Agreement (Huntington Auto Trust 2012-2)