on a Receivable definition

on a Receivable means the purchaser or co-purchasers of the Financed Vehicle and any other Person who owes payments under the Receivable.

on a Receivable means that portion of the payment required to be made by the Obligor during the respective Collection Period sufficient to amortize the Principal Balance and to provide interest at the Note Rate.

on a Receivable means the purchaser or the co-purchasers of the Financed Vehicle or any other Person who owes payments under the Receivable. The phrase "payment made on behalf of an Obligor" shall mean all payments made with respect to a Receivable except payments made by UAC, the Depositor or the Servicer.

Examples of on a Receivable in a sentence

• The Servicer shall be authorized to grant extensions, rebates or adjustments on a Receivable without the prior consent of the Issuer.

• As of the Cut-off Date, no Obligor on a Receivable is shown on the Receivable Files as the subject of a bankruptcy proceeding.

• The Servicer shall also be entitled to that portion of interest due on a Receivable that is in excess of interest at the related APR and that is due because of a late Scheduled Payment, and other administrative fees or similar charges allowed by applicable law or the Receivable with respect to Receivables, collected (from whatever source) on the Receivables.

• The Servicer shall not agree to any alteration of the interest rate on any Receivable and shall not agree to waive the repayment of the Amount Financed, or any portion thereof, on a Receivable.

• Except as provided in Section 3.07(a)(iii), the Servicer is hereby authorized to grant extensions, rebates or adjustments on a Receivable without the prior consent of the Owner of such Receivable.

More Definitions of on a Receivable

on a Receivable means the payment required to be made by the Obligor during each Collection Period that is sufficient to amortize the related Principal Balance under the Simple Interest Method over the term of the Receivable and to provide interest at the related APR.

on a Receivable means any Person who owes or may be liable for payments under such Receivable.

on a Receivable means that portion of the payment required to be made by the Obligor during any Collection Period sufficient to amortize the Principal Balance under (x) in the case of a Precomputed Receivable, the actuarial method or (y) in the case of a Simple Interest Receivable, the simple interest method, in each case, over the term of the Receivable and to provide interest at the APR, provided that Termination Values shall also constitute Scheduled Payments.

on a Receivable means that payment required to be made by the Obligor during the respective Collection Period which, together with all other scheduled payments thereon, will be sufficient to amortize the Principal Balance under the actuarial method set forth in the related Contract over the term of the Receivable and to provide interest at the APR.

on a Receivable means the scheduled periodic payment of principal and interest required to be made by the Obligor.

on a Receivable means the Scheduled Principal Payment or Scheduled Interest Payment for such Receivable.

on a Receivable means the purchaser or the co-purchasers of the Financed Vehicle or any other Person who owes payments under the Receivable. The phrase "payment TRUST AND SERVICING AGREEMENT