Full Prepayment. Any payment of the entire principal balance of a Mortgage Loan which is received in advance of its scheduled Due Date and is not accompanied by an amount of interest representing scheduled interest due on any date or dates in any month or months subsequent to the month of prepayment.
Full Prepayment. Any payment of the entire principal balance of a Mortgage Loan which is received in advance of its scheduled Due Date and is not accompanied by an amount of interest representing scheduled interest due on any date or dates in any month or months subsequent to the month of prepayment. GAAP: Generally accepted accounting principles consistently applied.
Full Prepayment means any of the following: (a) with respect to any Contract other than a Contract referred to in clause (ii), (iii) or (iv) of the definition of the term "Liquidated Contract", payment by or on behalf of the Obligor of the total amount required by the terms of such Contract to be paid thereunder, which amount shall be at least equal to the sum of (i) 100% of the Principal Balance of such Contract, (ii) interest accrued thereon to the date of such payment at the APR; and (iii) any overdue amounts; or (b) with respect to any Contract, payment by the Seller to the Indenture Trustee of the Purchase Amount of such Contract in connection with the purchase of such Contract pursuant to Section 2.03, or payment by the Servicer of the Purchase Amount of such Contract in connection with the purchase of such Contract pursuant to Section 3.07 or the purchase of all Contracts pursuant to Section 8.01.
Examples of Full Prepayment in a sentence
Not later than each Remittance Date, the Seller shall from its own funds deposit in the Custodial Account an amount equal to the aggregate Prepayment Interest Shortfall due to either Partial Prepayment or Full Prepayment, if any, existing in respect of the related Principal Prepayment Period.
FULL PREPAYMENT You can pay the Loan back early by paying us the Full Prepayment Amount defined in clause 3.3(a) of the General Terms.
Except as provided in Section 2.07(c), the Servicer is hereby authorized to grant extensions, rebates or adjustments on a Receivable without the prior consent of the Owner of such Receivable and to rewrite, in the ordinary course of its business, a Receivable to reflect the Full Prepayment of a Receivable with respect to any related Financed Vehicle without the prior consent of the Owner of such Receivable.
The Full Prepayment Amount includes an Early Settlement Fee and an amount equal to our reasonable estimate of our loss arising from full prepayment (if any) – that is, a loss that relates to differences in interest rates.
Notwithstanding the foregoing, if the Full Prepayment Option is exercised, then, in lieu of the Acquisition Property Price, price paid shall be the Full Prepayment Price.
More Definitions of Full Prepayment
Full Prepayment. The Full Prepayment Amount is defined in clause 3.3 of the General Terms. It includes an Early Settlement Fee and an amount equal to our reasonable estimate of our loss arising from full prepayment (if any).
Full Prepayment. With respect to a Distribution Date, that portion of an Actual Payment (other than the Scheduled Payment), which with respect to (i) any Receivable, is sufficient to prepay such Receivable in full (after application of the Scheduled Payment), or (ii) a Receivable secured by multiple Financed Vehicles, equals the unpaid principal amount of the Receivable relating to any Financed Vehicle, as determined by the Servicer in accordance with its customary servicing procedures.
Full Prepayment means any of the following: (i) payment to the Master Servicer of 100% of the outstanding principal balance of a Contract, exclusive of any Contract referred to in clause (ii), (iii) or (iv) of the definition of the term "Liquidated Contract," together with all accrued and unpaid interest thereon to the date of such payment, or (ii) payment by the Seller or the Master Servicer, as the case may be, of the purchase price of a Contract in connection with the purchase of a Contract pursuant to Section 3.02 or 4.07 or payment by the Seller of the purchase price of a Contract in connection with the purchase of all Contracts pursuant to Section 9.01.
Full Prepayment. With respect to any Mortgage Loan, when any one of the following occurs: (i) payment is made by the Mortgagor to the Servicer of 100% of the outstanding principal balance of such Mortgage Loan, together with all accrued and unpaid interest thereon at the Mortgage Interest Rate on such Mortgage Loan, (ii) payment is made to the Indenture Trustee of the Purchase Price of such Mortgage Loan in connection with the purchase of such Mortgage Loan by the Seller or the Servicer or (iii) payment is made to the Servicer of all Insurance Proceeds and Liquidation Proceeds, and other payments, if any, that have been determined by the Servicer in accordance with the provisions of the Servicing Agreement to be finally recoverable, in the Servicer's reasonable judgment, in respect of such Mortgage Loan.
Full Prepayment. With respect to any Mortgage Loan, when any one of the following occurs: (i) payment is made by the Mortgagor to the Servicer of 100% of the outstanding principal balance of such Mortgage Loan, together with all accrued and unpaid interest thereon at the Mortgage Interest Rate on such Mortgage Loan, (ii) payment is made to the Indenture Trustee of the Purchase Price of such Mortgage Loan in connection with the purchase of such Mortgage Loan by the Mortgage Loan Seller or the Servicer, or (iii) payment is made to the Servicer of all Insurance Proceeds and Liquidation Proceeds, and other payments, if any, that have been determined by the Servicer in accordance with the provisions of the Servicing Agreement to be finally recoverable, in the Servicer's reasonable judgment, in respect of such Mortgage Loan.
Full Prepayment. Payment to the Servicer, whether by the Obligor or through Insurance Proceeds, of an amount with respect to an Account such that the full amount due with respect to such Account has been paid.
Full Prepayment means any of the following: (i) payment to the Servicer of 100% of the outstanding installments of a Contract (exclusive of any Contract referred to in clause (ii) or (iii) of the definition of the term "Liquidated Contract"), less any discount on such installments to which the Obligor shall be entitled under the terms of such Contract and applicable law by virtue of early payment of any installment, or (ii) payment by the Servicer into the Collections Account of the purchase price of a Contract in connection with the purchase by Servicer of a Contract pursuant to Section 12.17.