Certain Characteristics of Initial Receivables. (A) Each Initial ---------------------------------------------- Receivable had a remaining maturity, as of the Initial Cutoff Date, of not more than 72 months; (B) each Receivable had an original maturity of not more than 72 months; (C) each Initial Receivable had a remaining Principal Balance as of the Initial Cutoff Date of at least $250 and not more than $60,000; (D) each Initial Receivable has an Annual Percentage Rate of at least 8.00% and not more than 32%; (E) no Initial Receivable was more than 30 days past due as of the Initial Cutoff Date and (F) no funds have been advanced by AmeriCredit, any Dealer, or anyone acting on behalf of any of them in order to cause any Initial 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....
Certain Characteristics of Initial Receivables. (A) Each Initial ---------------------------------------------- Receivable had a remaining maturity, as of the Initial Cutoff Date, of not more than 72 months; (B) each Receivable had an original maturity of not more than 72 months; (C) each Initial Receivable had a remaining Principal Balance as of the Initial Cutoff Date of at least $250 and not more than $60,000; (D) each Initial Receivable has an Annual Percentage Rate of at least 8.00% and not more than 32.00%; (E) no Initial Receivable was more than 30 days past due as of the Initial Cutoff Date and (F) no funds have been advanced by AmeriCredit, any Dealer, or anyone acting
Certain Characteristics of Initial Receivables. (A) Each Initial Receivable had a remaining maturity, as of the Initial Cutoff Date, of not more than 72 months.
(B) Each Initial Receivable had an original maturity, as of the Initial Cutoff Date, of not more than 72 months.
(C) Not more than 40% of the Initial Receivables (calculated by Aggregate Principal Balance) has an original term to maturity of 72 months. The original term to maturity of 72 month Receivables in the Trust is 33% as of the Initial Cutoff Date.
(D) Each Initial Receivable had a remaining Principal Balance as of the Initial Cutoff Date of at least $250 and not more than $80,000.
(E) Each Initial Receivable has an Annual Percentage Rate of at least 1% and not more than 33%.
(F) The Initial Receivables’ weighted average Annual Percentage Rate is not less than 15.80%. The weighted average Annual Percentage Rate of the Initial Receivables in the Trust is 15.90% as of the Initial Cutoff Date.
(G) No Initial Receivable was more than 30 days past due as of the Initial Cutoff Date.
(H) No funds have been advanced by AmeriCredit, any Dealer, any Third-Party Lender, or anyone acting on behalf of any of them in order to cause any Initial Receivable to qualify under clause (G) above.
(I) Not more than 35% of the Obligors reside in Texas and California (based on the Obligor’s mailing address). As of the Initial Cutoff Date, 25% of the Obligors (based in the Obligor’s mailing address) reside in Texas and California.
(J) Each Obligor had a billing address in the United States as of the date of origination of the Initial Receivables, is a natural person and is not an Affiliate of any party to this Agreement.
(K) Each Initial Receivable is denominated in, and each Contract provides for payment in, United States Dollars.
(L) Each Initial Receivable is identified on the Servicer’s master servicing records as an automobile installment sales contract or installment note.
(M) Each Initial Receivable arises under a Contract which is assignable without the consent of, or notice to, the Obligor thereunder, and does not contain a confidentiality provision that purports to restrict the ability of the Servicer to exercise its rights under the Sale and Servicing Agreement, including, without limitation, its right to review the Contract.
(N) Each Initial Receivable arises under a Contract with respect to which AmeriCredit has performed all obligations required to be performed by it thereunder, and, in the event such Contract is an installment sales contract, delive...
Certain Characteristics of Initial Receivables. (A) Each Initial Receivable had a remaining maturity, as of the Initial Cutoff Date, of not more than 72 months; (B) each Initial Receivable had an original maturity of not more than 72 months; (C) not more than 40% of Receivables (calculated by Aggregate Principal Balance) shall have an original term to maturity of 72 months; (D) each Initial Receivable had a remaining Principal Balance as of the Initial Cutoff Date of at least $250 and not more than $60,000; (E) each Initial Receivable has an Annual Percentage Rate of at least 8% and not more than 30%; (F) no Initial Receivable was more than 30 days past due as of the Initial Cutoff Date and (G) no funds had been advanced by AmeriCredit, any Dealer, any Third-Party Lender, or anyone acting on behalf of any of them in order to cause any Initial Receivable to qualify under clause (F) above.
Certain Characteristics of Initial Receivables. (A) Each Initial Receivable had a remaining maturity, as of the Initial Cutoff Date, of not more than 72 months; (B) each Receivable had an original maturity of not more than 72 months; (C) each Initial Receivable had a remaining Principal Balance as of the Initial Cutoff Date of at least $250 and not more than $60,000; (D) each Initial Receivable has an Annual Percentage Rate of at least 9% and not more than 30%; (E) no Initial Receivable was more than 30 days past due as of the Initial Cutoff Date and (F) no funds have been advanced by AmeriCredit, any Dealer, any Third-Party Lender, or anyone acting on behalf of any of them in order to cause any Initial Receivable to qualify under clause (E) above.
Certain Characteristics of Initial Receivables. (A) Each Initial Receivable had a remaining maturity, as of the Initial Cutoff Date, of not more than 72 months; (B) each Receivable had an original maturity of not more than 72 months; (C) each Initial Receivable had a remaining Principal Balance as of the Initial Cutoff Date of at least $250 and not more than $35,000; (D) each Initial Receivable has an Annual Percentage Rate of at least 9.00% and not more than 25.00%; (E) no Initial Receivable was one for which more than 10% of a Scheduled Payment was 31 or more days past due as of the Initial Cutoff Date; (F) no funds have been advanced by Triad, any Dealer, or Correspondent or anyone acting on behalf of any of them in order to cause any Initial Receivable to qualify under clause (E) above; (G) not more than 15% of the aggregate Principal Balance of such Receivables will be conveyed to Triad pursuant to Correspondent Assignments, and not more than 11% of the aggregate Principal Balance of such Receivables will be conveyed to Triad by any one Correspondent; and (H) no Initial Receivable shall include Obligors whose addresses are in the State of Pennsylvania.
Certain Characteristics of Initial Receivables. (A) Each [Initial] Receivable had a remaining maturity, as of the [related] Cutoff Date, of not more than months.
(B) Each [Initial] Receivable had an original maturity, as of the [related Initial] Cutoff Date, of not more than months.
(C) Not more than of the [Initial] Receivables (calculated by aggregate Principal Balance) has an original term to maturity of months.
(D) Each [Initial] Receivable had a remaining Principal Balance as of the [Initial] Cutoff Date of at least $ and not more than $ .
(E) Each [Initial] Receivable has an Annual Percentage Rate of at least 1% and not more than %.
(F) The [Initial] Receivables’ weighted average Annual Percentage Rate is not less than %.
(G) No [Initial] Receivable was more than 30 days past due as of the [Initial] Cutoff Date.
(H) No funds have been advanced by AmeriCredit, any Dealer, any Third-Party Lender, or anyone acting on behalf of any of them in order to cause any [Initial] Receivable to qualify under clause (G) above.
(I) Not more than % of the Obligors related to the [Initial] Receivalbles reside in [Texas and California] (based on the Obligor’s mailing address as of the [Initial] Cutoff Date).
(J) Each Obligor had a billing address in the United States as of the date of origination of the [Initial] Receivables, is a natural person and is not an Affiliate of any party to this Agreement.
(K) Each [Initial] Receivable is denominated in, and each Contract provides for payment in United States Dollars.
(L) Each [Initial] Receivable is identified on the Servicer’s master servicing records as an automobile installment sales contract or installment note.
(M) Each [Initial] Receivable arises under a Contract which is assignable without the consent of, or notice to, the Obligor thereunder, and does not contain a confidentiality provision that purports to restrict the ability of the Servicer to exercise its rights under the Sale and Servicing Agreement, including, without limitation, its right to review the Contract.
(N) Each [Initial] Receivable arises under a Contract with respect to which AmeriCredit has performed all obligations required to be performed by it thereunder, and, in the event such Contract is an installment sales contract, delivery of the Financed Vehicle to the related Obligor has occurred.
Certain Characteristics of Initial Receivables. (A) Each Initial Receivable had a remaining maturity, as of the related Cutoff Date, of not more than 72 months.
(B) Each Initial Receivable had an original maturity, as of the related Initial Cutoff Date, of not more than 72 months.
(C) Not more than 50% of the Initial Receivables (calculated by aggregate Principal Balance) has an original term to maturity of 72 months.
(D) Each Initial Receivable had a remaining Principal Balance as of the Initial Cutoff Date of at least $250 and not more than $80,000.
(E) Each Initial Receivable has an Annual Percentage Rate of at least 1% and not more than 33%.
(F) The Initial Receivables’ weighted average Annual Percentage Rate is not less than 16.60%.
(G) No Initial Receivable was more than 30 days past due as of the Initial Cutoff Date.
(H) No funds have been advanced by AmeriCredit, any Dealer, any Third-Party Lender, or anyone acting on behalf of any of them in order to cause any Initial Receivable to qualify under clause (G) above.
(I) Not more than 35% of the Obligors related to the Initial Receivables reside in Texas and California (based on the Obligor’s mailing address as of the Initial Cutoff Date).
Certain Characteristics of Initial Receivables. (i) Each Receivable had a remaining maturity, as of the Cutoff Date, of at least 7 months but not more than 60 months; (ii) each Receivable had an original maturity of at least 24 months but not more 72 months; (iii) each Receivable had an original principal balance of at least $3,000 and not more than $70,000; (iv) each Receivable had a principal balance as of the Cutoff Date of at least $500 and not more than $70,000; (v) each Receivable has an Annual Percentage Rate of at least 11.95% and not more than 30.00%; (vi) no Receivable was more than 59 days past due as of the Cutoff Date; (vii) no funds have been advanced by the Seller, the Master Servicer, any Unaffiliated Originator, any Dealer, or anyone acting on behalf of any of them in order to cause any Receivable to qualify under subclause (vi) of this clause 25; (viii) no Receivable has a final scheduled payment date after June, 2003; (ix) the principal balance of each Receivable set forth in the Schedule of Receivables is true and accurate as of the Cutoff Date and (x) as of the Cutoff Date, approximately 84.46% by the aggregate principal balance of the Initial Receivables is attributable to loans for the purchase of used financed vehicles. EXHIBIT A FORM OF SUBSEQUENT PURCHASE AGREEMENT Transfer No. 1 of Subsequent Receivables, dated as of ___________________, pursuant to a Purchase Agreement (the "Purchase Agreement") dated as of March 1, 1997, between Advanta Auto Finance Corporation, a Nevada corporation (the "Seller") and Advanta Auto Receivables Corp. I, a Nevada corporation (the "Purchaser").
Certain Characteristics of Initial Receivables. Each Initial ---------------------------------------------- Receivable had a remaining maturity, as of the Initial Cutoff Date, of not more than 72 months; (B) each Receivable had an original maturity of not more than 72 months; (C) each Initial Receivable had a remaining Principal Balance as of the Initial Cutoff Date of at least $250 and not more than $60,000; (D) each Initial Receivable has an Annual Percentage Rate of at least 8% and not more than 32%; (E) no Initial Receivable was more than 30 days past due as of the Initial Cutoff Date and (F) no funds have been advanced by AmeriCredit, any Dealer, or anyone acting on behalf of any of them in order to cause any Initial 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.
