– Simple Interest Contract Sample Clauses

– Simple Interest Contract. 9. For each of the Receivables, noted that the Retail Contract is a simple finance contract or as also known in the industry as simple interest contracts where finance charges are figured on a daily basis. Pooling Agreement Section 3.01(a)(i)(5) – Level Monthly Payments

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– Simple Interest Contract. 36 Sixty-Day Plus Delinquency Percentage. 36

– Simple Interest Contract. This is a simple interest contract. The Finance Charge, Total of Payments and Payment Schedule shown may differ from the amount Buyer will EXHIBIT 10.11.M; PAGE 2 ultimately have to pay if payments are not received on their exact due dates or the Seller adds amounts to the amount Buyer owes for any of the reasons stated below.

Related to – Simple Interest Contract

• Simple Interest Mortgage Loans None of the Mortgage Loans are simple interest Mortgage Loans.
• Simple Interest Receivables All of the Receivables are Simple Interest Receivables.
• Simple Interest Each Receivable provides for scheduled monthly payments that fully amortize the Amount Financed by maturity (except for minimally different payments in the first or last month in the life of the Receivable) and provides for a finance charge or yield interest at its APR, in either case calculated based on the Simple Interest Method.
• Simple Interest Method All payments with respect to the Receivables have been allocated consistently in accordance with the Simple Interest Method.
• ORIGINAL CLASS A NON-PO PRINCIPAL BALANCE The Original Class A Non-PO Principal Balance is $170,009,500.00.
• Applicable Interest Rate 5.10.1 In respect of Pre-Delivery Interest Periods or Interest Periods pursuant to Clause 5.3.1 and subject to Clause 5.3.1, Clause 5.12 and Clause 6, the rate of interest applicable to the Loan (or relevant part in the case of the division of the Loan under Clause 5.8) during a Pre-Delivery Interest Period or an Interest Period shall be the Floating Interest Rate.
• Excess Spread; Excess Finance Charge Collections The Servicer shall apply, or shall cause the Trustee to apply by written instruction to the Trustee, on each Distribution Date, Excess Spread and Excess Finance Charge Collections allocated to Series 1997-1 with respect to the related Monthly Period, to make the following distributions or deposits in the following order of priority:
• Applicable Interest Rates (a) U.S.
• Cut-Off Date Aggregate Principal Balance The Cut-Off Date Aggregate Principal Balance is $850,069,757.10
• Principal Funding Account; Controlled Accumulation Period (a)(i) The Servicer, for the benefit of the Series 1997-1 Certificateholders, shall establish and maintain in the name of the Trustee, on behalf of the Trust, an Eligible Deposit Account (the "Principal Funding Account"), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Series 1997-1 Certificateholders. The Principal Funding Account shall initially be established with the Trustee.