Class B Final Scheduled Payment Date definition
Examples of Class B Final Scheduled Payment Date in a sentence
Except as provided in Section 4.02 or to the extent required by law or court order, the Servicer shall not amend or otherwise modify any Receivable such that the total number of Scheduled Payments, the Amount Financed or the APR is altered, or extend the maturity of such Receivable beyond the last day of the Collection Period preceding the Class B Final Scheduled Payment Date.
No Receivable has a final scheduled payment date later than six months prior to the Class B Final Scheduled Payment Date.
Subject to Section 3.5, the Servicer may grant extensions, rebates, deferrals, amendments, modifications or adjustments on a Receivable in accordance with its Customary Servicing Practices; provided, however, that if the Servicer extends the date for final payment by the Obligor of any Receivable beyond the last day of the Collection Period prior to the Class B Final Scheduled Payment Date, it will promptly purchase such Receivable in the manner provided in Section 3.
No Receivable has a final scheduled payment date later than the last day of the Collection Period immediately preceding the Class B Final Scheduled Payment Date.
In addition, if on the Class B Final Scheduled Payment Date, the Available Funds, together with the Senior Strip, are insufficient to retire the Class B Notes, the Trust Collateral Agent shall withdraw the Class B Reserve Account Draw from the Class B Reserve Account for deposit in the Note Account for application in respect of such insufficiency.