CERTAIN CHARACTERISTICS Sample Clauses

CERTAIN CHARACTERISTICS. (A) Each Initial Receivable had a remaining maturity, as of the Initial Cutoff Date, of at least three months but not more than 84 months; (B) each Initial Receivable had an original maturity of at least six months but not more than 84 months; (C) each Initial Receivable had an original principal balance of at least $1,044.70 and not more than $41,653.54 (D) each Initial Receivable had a remaining Principal Balance as of the Initial Cutoff Date of at least $517.41 and not more than $41,653.54 (E) each Initial Receivable has an Annual Percentage Rate of at least 8.00% and not more than 24.00%; (F) no Initial Receivable was more than 30 days past due as of the Initial Cutoff Date; (G) no funds have been advanced by the Seller, the Servicer, any Dealer, or anyone acting on behalf of any of them in order to cause any Receivable to qualify under clause (F) above, (H) no Initial Receivable has a final scheduled payment date on or before June 1, 1998, (I) the Principal Balance of each Receivable set forth in Schedule of Receivables is true and accurate in all material respects as of the Initial Cutoff Date, (J) 11.34% of the Initial Receivables, by principal balance as of the Initial Cutoff Date, was attributable to loans for the purchase of new Financed Vehicles and 88.66% of the Initial Receivables was attributable to loans for the purchase of used Financed Vehicles, (K) not more than 66.4% of the Principal Balance as of the Initial Cutoff Date was attributable to loans originated under AFL's "Classic" program, (L) not more than 3.4% of the Principal Balance of the Initial Receivables as of the Initial Cutoff Date had an Annual Percentage Rate in excess of 21.0%, (M) none of such Receivables represented loans in excess of $50,000.00, (N) not more than 0.6% of the Principal Balance of such Receivables represented loans with original terms greater than 72 months and (O) not more than 4.3% of the Principal Balance of such Receivables represented loans secured by Financed Vehicles that previously secured a loan originated by AFL with an obligor other than the current Obligor. SCHEDULE B SERVICING POLICIES AND PROCEDURES NOTE: APPLICABLE TIME PERIODS WILL VARY BY STATE. I. PAST DUE PAYMENT COLLECTIONS A. Past due payment notices are generated and sent on the 9th and 15th day of delinquency. B. The collection officer will make at least one phone call by day 10. C. The collection officer will write a personalized collection letter by day 15 and will have made at least...
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CERTAIN CHARACTERISTICS. (A) Each Receivable had a ----------------------- remaining maturity, as of the Cutoff Date, of at least 11 months but not more than 240 months; (B) each Receivable had an original maturity of at least 24 months but not more than 240 months; (C) each Receivable had an original principal balance of at least $2,701.25 and not more than $1,100,545; (D) each Receivable had a Principal Balance as of the Cutoff Date of at least $175.99 and not more than $1,097,328.01; (E) as of the Cutoff Date, each Receivable has an Annual Percentage Rate of at least 2.75% and not more than 15.25%; (F) approximately 52.23% of the aggregate Principal Balance of the Receivables (measured as of the Cutoff Date), were secured by used Financed Boats at the time such Receivables were originated; (G) no funds have been advanced by DFS, any Dealer, or any Person acting on behalf of any of them in order to cause any DFS Receivable to qualify under paragraph (xxv) above; (H) as of the Cutoff Date, other than California (21.99%), New York (14.25%), Texas (12.37%), Florida (9.28%) and Washington (5.12%), no State represented more than 5% of the Initial Pool Balance with respect to the billing addresses of the Obligors (determined by reference to the records of DFS); and (I) the Principal Balance of each DFS Receivable set forth in Schedule of Receivables is true and accurate in all material respects as of the Cutoff Date. As of the Cutoff Date, the sum of the Principal Balances of the Receivables which are Step Rate Receivables does not exceed approximately 1.03% of the Initial Pool Balance. For purposes of determining whether DFS is obligated to purchase a Receivable on account of a breach of a representation and warranty pursuant to this Section 3.01 or indemnify in respect of such breach pursuant to the last paragraph of this Section 3.01, the determination as to whether a representation or warranty that is made to the knowledge of DFS has been breached shall be made without regard to such knowledge of DFS as if such representation and warranty were not qualified by the knowledge of DFS.
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CERTAIN CHARACTERISTICS. (A) Each DFS Receivable had a remaining maturity, as of the Cutoff Date, of at least 1 month but not more than [ ] months; (B) each DFS Receivable had an original maturity of at least [ ] months but not more than [ ] months; (C) each DFS Receivable had an original principal balance of at least $[ ] and not more than $[ ]; (D) each DFS Receivable had a Principal Balance as of the Cutoff Date of at least $[ ] and not more than $[ ]; (E) each DFS Receivable has an Annual Percentage Rate of at least [ ]% and not more than [ ]%; (F) [ ]% of the Receivables when originated were secured by new Financed Vehicles; (G) no funds have been advanced by DFS, any Dealer, or any Person acting on behalf of any of them in order to cause any DFS Receivable to qualify under paragraph (xxv) above; (H) no DFS Receivable has a Final Scheduled Maturity Date on or before [ ] or later than [ ]; (I) as of the Cutoff Date, other than California ([ ]%), Florida ([ ]%), Oregon ([ ]%) and Texas ([ ]%), no State represented more than 5% by outstanding Pool Balance with respect to the location of the Financed Vehicles; and (J) the Principal Balance of each DFS Receivable set forth in Schedule of Receivables is true and accurate in all material respects as of the Cutoff Date. For purposes of determining whether DFS is obligated to purchase a DFS Receivable on account of a breach of a representation and warranty pursuant to this Section 3.01 or indemnify in respect of such breach pursuant to the last paragraph of this Section 3.01, the determination as to whether a representation or warranty that is made to the knowledge of DFS has been breached shall be made without regard to such knowledge of DFS as if such representation and warranty were not qualified by the knowledge of DFS. Upon discovery by any party hereto of a breach of any of the representations and warranties of DFS set forth in this Section, which materially and adversely affects the value of the Receivables or the interest therein of the Issuer or the Indenture Trustee (or which materially and adversely affects the interest of the Issuer or the Indenture Trustee in the related Receivable in the case of a representation and warranty relating to a particular Receivable), the party discovering such breach shall give prompt written notice to the other parties hereto. On the last day of the Collection Period following the Collection Period during which DFS discovers or receives notice of any such breach of any such representation or...
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CERTAIN CHARACTERISTICS. (A) No Receivable has an initial payment date more than three months subsequent to the related Cutoff Date; (B) No Receivable has a final scheduled payment date on or before the related Transfer Date; (C) The Principal Balance of each Receivable set forth in Schedule of Receivables is true and accurate in all material respects as of the related Cutoff Date; and (D) after giving effect to the conveyance of Receivables on each Transfer Date, (i) the aggregate of the Principal Balances of Receivables with original maturities ranging from 72 to 84 months shall not exceed 7.5% of the aggregate of the Principal Balances of all Receivables on such Transfer Date, and (ii) the aggregate of the Principal Balances of Receivables attributable to loans originated under OFL's "Classic" program shall not exceed 40% of the aggregate of the Principal Balances of all Receivables on such Transfer Date.
Sample 1Sample 2
CERTAIN CHARACTERISTICS. (A) Each Receivable had a remaining maturity, as of the Cutoff Date, of not more than 59 months; (B) each Receivable had an original maturity of not more than 60 months; (C) each Receivable had a remaining Principal Balance as of the Cutoff Date of at least $250.00 and not more than $28,000; (D) each Receivable has an Annual Percentage Rate of at least 14.0% and not more than 33.0%; (E) no Receivable was more than 30 days past due as of the Cutoff Date and (F) no funds have been advanced by the Seller, AFS, any Dealer, or anyone acting on behalf of any of them in order to cause any Receivable to qualify under clause (E) above. SCHEDULE C SERVICING POLICIES AND PROCEDURES NOTE: APPLICABLE TIME PERIODS WILL VARY BY STATE COMPLIANCE WITH STATE COLLECTION LAWS IS REQUIRED OF ALL AMERICREDIT COLLECTION PERSONNEL. ADDITIONALLY, AMERICREDIT HAS CHOSEN TO FOLLOW THE GUIDELINES OF THE FEDERAL FAIR DEBT COLLECTION PRACTICES ACT (FDCPA). THE COLLECTION PROCESS Customer is issued a monthly billing statement 16 to 20 days before payment is due. A. All accounts are issued to the Computer Assisted Collection System (CACS) at 5 days delinquent or at such other dates of delinquency as determined by historical payment patterns of the account. B. Accounts are then segregated into two groups, those less than 30 days delinquent and those over 30 days delinquent. C. Accounts less than 30 days delinquent are further segregated into accounts that have good residential and business phone numbers and those that do not. D. For those that have good phone numbers, they are assigned to the Melita Group. E. For those without good phone numbers, they are assigned to the front-end collector. F. In both groups, all reasonable collection efforts are made to avoid the account rolling over 30 days delinquent, including the use of collection letters. Collection Letters may be utilized between 15 and 25 days delinquent. G. At the time the account reaches 31 days delinquent, it is assigned to a mid-range collector. At this time the collector identifies the necessity of any default notification required by state law. H. Once the account exceeds 60 days in delinquency, it is assigned to a hard-core collector. The hard-core collector then continues the collection effort. If the account cannot be resolved through normal collection efforts, i.e. satisfactory payment arrangements, then the account may be submitted for repossession approval, either voluntary or by an approved outside contractor or if n...
Sample 1
CERTAIN CHARACTERISTICS. (A) Each Receivable had a remaining maturity, as of the Cutoff Date, of at least 3 months but not more than 84 months; (B) each Receivable had an original maturity of at least 12 months but not more than 84 months; (C) each Receivable had an original
Sample 1

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