Common use of Advance Percentage Clause in Contracts

Advance Percentage. With respect to any Funding Date, the advance ------------------ percentage with respect to Receivables and Asset Backed Securities (the "Advance ------- Percentage") to determine the Advance Amount shall be 100% with respect to Asset ---------- Backed Securities, subject to the reserve requirement to be established at or prior to the initial funding under the ABS Funding Sublimit, as acceptable to each Lending Group and the Primary Seller, and shall be 89% with respect to Receivables, subject in the case of Receivables to downward adjustment on such Funding Date as described below: (1) if a "Trigger Event" (such term meaning, for purposes of this Section 7.1(c), (i) a "Trigger Event" as defined in any public asset- backed transaction, which transaction has been outstanding for twenty-four months or less from the date hereof or (ii) if applicable, any comparable "spread capture event" in any automobile receivables transaction conducted by any Securitization Trust, which transaction has been outstanding for twenty-four months or less from the date hereof, whether or not defined in such transaction as a "Trigger Event" and whether or not such transaction is a public transaction) occurs which continues unremedied for two (2) monthly reporting periods and is waived by the party or parties entitled to exercise such waiver under the related transaction documentation, then the Advance Percentage in effect at the opening of business on such Funding Date shall be reduced by 2%; provided that if the Trigger Event relates to -------- a delinquency test failure and occurs after the Pool Factor (as defined in the related transaction documentation) is below 25%, the Advance Percentage shall not be so reduced; provided further that if the Advance Percentage -------- ------- has been reduced as a result of the application of this clause (1), the Advance Percentage shall remain at such reduced percentage until such time as the related Trigger Event has been cured for a period of three (3) consecutive months;

Advance Percentage. With respect to any Funding Date, the advance ------------------ percentage with respect to Receivables and Asset Backed Securities (the "Advance ------- Percentage") to determine the Advance Amount shall be 100% with respect to Asset ---------- Backed Securities, subject to the reserve requirement to be established at or prior to the initial funding under the ABS Funding Sublimit, as acceptable to each Lending Group and the Primary Seller, and shall be 89% with respect to Receivables, subject in the case of Receivables to downward adjustment on such Funding Date as described below: (1) if a "Trigger Event" (such term meaning, for purposes of this Section 7.1(c), (i) a "Trigger Event" as defined in any public asset- asset-backed transaction, which transaction has been outstanding for twenty-four months or less from the date hereof or (ii) if applicable, any comparable "spread capture event" in any automobile receivables transaction conducted by any Securitization Trust, which transaction has been outstanding for twenty-four months or less from the date hereof, whether or not defined in such transaction as a "Trigger Event" and whether or not such transaction is a public transaction) occurs which continues unremedied for two (2) monthly reporting periods and is waived by the party or parties entitled to exercise such waiver under the related transaction documentation, then the Advance Percentage in effect at the opening of business on such Funding Date shall be reduced by 2%; provided that if the Trigger Event relates to -------- a delinquency test failure and occurs after the Pool Factor (as defined in the related transaction documentation) is below 25%, the Advance Percentage shall not be so reduced; provided further that if the Advance Percentage -------- ------- has been reduced as a result of the application of this clause (1), the Advance Percentage shall remain at such reduced percentage until such time as the related Trigger Event has been cured for a period of three (3) consecutive months;

Advance Percentage. With respect to any Funding Date, the advance ------------------ percentage with respect to Receivables and Asset Backed Securities (the "Advance ------- PercentageADVANCE PERCENTAGE") to determine the Advance Amount shall be 100% with respect to Asset ---------- Backed Securities, subject to the reserve requirement to be established at or prior to the initial funding under the ABS Funding Sublimit, as acceptable to each Lending Group and the Primary Seller, and shall be 89% with respect to Receivables, subject in the case of Receivables to downward adjustment on such Funding Date as described below: (1) if a "Trigger Event" (such term meaning, for purposes of this Section 7.1(c), (i) a "Trigger Event" as defined in any public asset- asset-backed transaction, which transaction has been outstanding for twenty-four months or less from the date hereof or (ii) if applicable, any comparable "spread capture event" in any automobile receivables transaction conducted by any Securitization Trust, which transaction has been outstanding for twenty-four months or less from the date hereof, whether or not defined in such transaction as a "Trigger Event" and whether or not such transaction is a public transaction) occurs which continues unremedied for two (2) monthly reporting periods and is waived by the party or parties entitled to exercise such waiver under the related transaction documentation, then the Advance Percentage in effect at the opening of business on such Funding Date shall be reduced by 2%; provided PROVIDED that if the Trigger Event relates to -------- a delinquency test failure and occurs after the Pool Factor (as defined in the related transaction documentation) is below 25%, the Advance Percentage shall not be so reduced; provided further PROVIDED, FURTHER, that if the Advance Percentage -------- ------- has been reduced as a result of the application of this clause (1), the Advance Percentage shall remain at such reduced percentage until such time as the related Trigger Event has been cured for a period of three (3) consecutive months;

Advance Percentage. With respect to any Funding Date, the advance ------------------ percentage with respect to Receivables and Asset Backed Securities (the "Advance ------- PercentageADVANCE PERCENTAGE") to determine the Advance Amount shall be 100% with respect to Asset ---------- Backed Securities88%, subject to the reserve requirement to be established at or prior to the initial funding under the ABS Funding Sublimit, as acceptable to each Lending Group and the Primary Seller, and shall be 89% with respect to Receivables, subject in the case of Receivables to downward adjustment on such Funding Date as described below: (1) if a "Trigger Event" (such term meaning, for purposes of this Section 7.1(c), (i) a "Trigger Event" as defined in any public asset- asset-backed transaction beginning with and including the AmeriCredit Automobile Receivables Trust 1997-C transaction, which transaction has been outstanding for twenty-four months or less from the date hereof ; or (ii) if applicable, any comparable "spread capture event" in any automobile receivables transaction conducted by any Securitization Trust, which transaction has been outstanding for twentyTrust beginning with and including the AmeriCredit Automobile Receivables Trust 1997-four months or less from the date hereofC transaction, whether or not defined in such transaction as a "Trigger Event" and whether or not such transaction is a public transaction) occurs which continues unremedied for two (2) monthly reporting periods and is waived by the party or parties entitled to exercise such waiver under the related transaction documentation, then the Advance Percentage in effect at the opening of business on such Funding Date shall be reduced by 2%; provided PROVIDED that if the Trigger Event relates to -------- a delinquency test failure and occurs after the Pool Factor (as defined in the related transaction documentation) is below 25%, the Advance Percentage shall not be so reduced; provided further PROVIDED FURTHER that if the Advance Percentage -------- ------- has been reduced as a result of the application of this clause (1), the Advance Percentage shall remain at such reduced percentage until such time as the related Trigger Event has been cured for a period of three (3) consecutive months;