Fixed Value Payment definition

Fixed Value Payment means, with respect to each Fixed Value Receivable, the amount specified on the applicable Contract as the "Amount of Fixed Value Payment" reduced (i) in the case of a prepayment or repurchase, by the amount of the unearned finance charges under the Contract allocable to such payment in accordance with the Servicer's customary procedures and (ii) in the case of a liquidation, by the excess of Liquidation Proceeds collected by the Servicer over the Amortizing Payment on such date.
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Fixed Value Payment means the dollar amount of the final Balloon Payment under a Receivable which was created under the Gold Key Plus Program.
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Examples of Fixed Value Payment in a sentence

  • All Liquidation Proceeds with respect to any Fixed Value Receivable shall be applied first to the related Receivable and only after the payment in full of the Principal Balance thereof plus accrued but unpaid interest thereon shall any such Liquidation Proceeds be applied to, or constitute, the related Fixed Value Payment.

  • All Liquidation Proceeds and any subsequent Recoveries with respect to any Fixed Value Receivable shall be applied first to the related Receivable and only after the payment in full of the Principal Balance thereof plus accrued but unpaid interest thereon shall any such Liquidation Proceeds or Recoveries be applied to, or constitute, the related Fixed Value Payment.

  • Fixed Value Payment: This contract contains one Fixed Value Payment which is identified on page of and due on the date shown on page of in the Payment Schedule.

  • In addition, the Seller hereby agrees to sell any vehicle that is received by the Company at any time in satisfaction of a Fixed Value Payment on behalf and for the benefit of the Company.