Excess Contract Payment definition
Excess Contract Payment. With respect to any Contract, any portion of a ----------------------- payment of principal and interest on such Contract, that (a) is in excess of the scheduled payment (or is an integral multiple thereof and has not been identified by the Obligor as a Principal Prepayment), (b) is not a Principal Prepayment and (c) is not part of the Liquidation Proceeds of such Contract or the Repurchase Price of such Contract paid pursuant to Section 3.05.
Excess Contract Payment. With respect to any Contract, any portion of a payment of principal and interest on such Contract, that (a) is in excess of the scheduled payment (or is an integral multiple thereof and has not been identified by the Obligor as a Principal Prepayment), (b) is not a Principal Prepayment and (c) is not part of the Liquidation Proceeds of such Contract or the Repurchase Price of such Contract paid pursuant to Section 3.05.
Excess Contract Payment. With respect to any Contract, any portion of a ----------------------- payment of principal and interest on such Contract, that (a) is in excess of the Scheduled Payment (or is an integral multiple thereof and has not been identified by the Obligor as a Principal Prepayment),
More Definitions of Excess Contract Payment
Excess Contract Payment means with respect to any Contract, any portion of a payment of principal and interest on such Contract, that (a) is in excess of the Scheduled Payment (or is an integral multiple thereof and has not been identified by the Obligor as a Principal Prepayment), (b) is not a Principal Prepayment and (c) is not part of the Liquidation Proceeds of such Contract or the Repurchase Price of such Contract paid pursuant to Section 3.06.