Common use of Certain Characteristics of Initial Receivables Clause in Contracts

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.

Appears in 3 contracts

Samples: Purchase Agreement (Americredit Financial Services Inc), Purchase Agreement (Americredit Financial Services Inc), Purchase Agreement (Americredit Financial Services Inc)

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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 4030% 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.

Appears in 1 contract

Samples: Purchase Agreement (Americredit Financial Services Inc)

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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 87% and not more than 3033%; (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.

Appears in 1 contract

Samples: Purchase Agreement (Americredit Financial Services Inc)

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