Simple Interest Receivable definition

Simple Interest Receivable means any Receivable under which the portion of a payment allocable to interest and the portion allocable to principal is determined in accordance with the Simple Interest Method.
Simple Interest Receivable means any motor vehicle receivable pursuant to which the payments due from the Obligors during any month are allocated between interest, principal and other charges based on the actual date on which a payment is received and for which interest is calculated using the Simple Interest Method.
Simple Interest Receivable. Any Receivable under which the portion of each monthly payment allocable to earned interest and the portion allocable to the Amount Financed is determined in accordance with the Simple Interest Method. For purposes hereof, all payments with respect to a Simple Interest Receivable shall be allocated to principal and interest in accordance with the Simple Interest Method.

Examples of Simple Interest Receivable in a sentence

  • Review the Contract and confirm that the Receivable is a Simple Interest Receivable.


More Definitions of Simple Interest Receivable

Simple Interest Receivable means a Receivable under which the portion of the payment allocable to interest and the portion allocable to principal is determined in accordance with the Simple Interest Method.
Simple Interest Receivable means any Receivable under which the portion of a payment allocable to interest and the portion allocable to principal is determined by allocating a fixed level payment between principal and interest, such that such payment is allocated first to the accrued and unpaid interest at the Annual Percentage Rate for such Receivable on the unpaid principal balance and the remainder of such payment is allocable to principal. “Specified Discount Factor” equals %.
Simple Interest Receivable means any Receivable under which the portion of a payment allocable to interest and the portion allocable to principal is determined by allocating a fixed level payment between principal and interest, such that such payment is allocated first to
Simple Interest Receivable means any Receivable under which the portion of a payment allocable to interest and the portion allocable to principal is determined by allocating a fixed level payment between principal and interest, such that such payment is allocated first to the accrued and unpaid interest at the Annual Percentage Rate for such Receivable on the unpaid principal balance and the remainder of such payment is allocable to principal. "Specified Discount Factor" equals 5.40%.
Simple Interest Receivable. Any Receivable under which principal and interest is allocated according to the simple interest method.
Simple Interest Receivable. Any Receivable under which principal and interest is allocated according to the Simple Interest Method. State: Any state of the United States of America, or the District of Columbia.
Simple Interest Receivable means any Receivable under which the portion of a payment allocable to interest and the portion allocable to principal is determined in accordance with the Simple Interest Method. Capitalized terms used and not otherwise defined herein (including the Preliminary Statement) shall have the meanings assigned thereto in the amended and restated trust agreement dated as of October 26, 2001 and as further amended by the Amendment dated as of December 12, 2002, between Bear, Stearns International Limited and Xxxxx Manhattan Bank USA, National Association, as owner trustee (as amended, the "Trust Agreement").