Common use of Cumulative Receivables Clause in Contracts

Cumulative Receivables. Following the addition of all Additional Receivables on each Subsequent Cutoff Date: (1) the sum of the Amount Financed of each Cumulative Receivable as of such date that had an original term: (a) of 60 months or less, measured as of its date of origination, is at least 22.5% of the Aggregate Amount Financed of the Cumulative Receivables as of such date; (b) of between 73 months and 75 months, measured as of its date of origination, is not greater than 10.0% of the Aggregate Amount Financed of the Cumulative Receivables as of such date; and (c) in excess of 75 months, measured as of its date of origination, is not greater than 2.0% of the Aggregate Amount Financed of the Cumulative Receivables as of such date; (2) the sum of the Amount Financed of each Cumulative Receivable as of such date that was secured by used Financed Vehicles, measured as of the Applicable Cutoff Date for each such Cumulative Receivable, is not greater than 40.0% of the Aggregate Amount Financed of the Cumulative Receivables as of such dates; (3) the Weighted Average FICO Score of the Cumulative Receivables, measured as of the Applicable Cutoff Date, is 630 or greater; (4) the Weighted Average Loan-to-Value of the Cumulative Receivables, measured as of the Applicable Cutoff Date, is 110 or less; (5) the Weighted Average Rate of the Cumulative Receivables, measured as of the Applicable Cutoff Date, is at least 7.8%; (6) the sum of the Amount Financed of each Cumulative Receivable with no FICO score or related to a business obligor, measured as of the Applicable Cutoff Date, is not greater than 10.0% of the Aggregate Amount Financed of the Cumulative Receivables; and (7) the sum of the Amount Financed of each Cumulative Receivable with a FICO score less than 580, measured as of the Applicable Cutoff Date, is not greater than 12.5% of the Aggregate Amount Financed of the Cumulative Receivables.