DOWN PAYMENT RATIO Sample Clauses

DOWN PAYMENT RATIO. A. Obligors on all Contracts must be required to have made a down payment (cash plus net trade-in allowance) of at least 10% of the Dealer's cost (excluding sale preparation expenses) in the Financed Vehicle.
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DOWN PAYMENT RATIO. Obligors on all Contracts must have made a down payment in cash and/or net trade-in allowance of not less than 15% of the actual price paid by draft to the selling automobile Dealer for the related Leased Vehicle; provided, however, that the down payment for any Leased Vehicle which is more than three model years old shall equal at least 20% of the actual purchase price.
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DOWN PAYMENT RATIO. Obligors on all Contracts must have made a down payment on the Contract in cash and/or net trade-in allowance equal to not less than 15% or, in the case of Leased Vehicles which are four model years old 20%, of the actual purchase price paid to the dealer who sold the related Leased Vehicle to the Buyer or to TAF-I, as the case may be.
Sample 1

Related to DOWN PAYMENT RATIO

  • Current Ratio The Borrower will not permit, as of the last day of any fiscal quarter, its ratio of (i) consolidated current assets (including the unused amount of the total Commitments, but excluding non-cash assets under FAS 133) to (ii) consolidated current liabilities (excluding non-cash obligations under FAS 133 and current maturities under this Agreement) to be less than 1.0 to 1.0.

  • Minimum Current Ratio Permit the Current Ratio at the end of any fiscal quarter to be less than 1.00 to 1.00.

  • Minimum Interest Coverage Ratio The Borrowers shall not permit the Interest Coverage Ratio, calculated as of the end of each fiscal quarter for the four fiscal quarters then ended, to be less than 3.50 to 1.00.

  • Consolidated Current Ratio The Borrower will not permit the Consolidated Current Ratio as of the last day of any fiscal quarter ending on or after the Effective Date, to be less than 1.00 to 1.00.

  • Minimum Consolidated Interest Coverage Ratio Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 3.25 to 1.00.

  • Minimum Monthly Principal Payments Amortizing payments of the aggregate principal amount outstanding under this Note at any time (the “Principal Amount”) shall begin on December 1, 2004 and shall recur on the first business day of each succeeding month thereafter until the Maturity Date (each, an “Amortization Date”). Subject to Article 3 below, beginning on the first Amortization Date, the Borrower shall make monthly payments to the Holder on each Repayment Date, each in the amount of $187,500, together with any accrued and unpaid interest to date on such portion of the Principal Amount plus any and all other amounts which are then owing under this Note, the Purchase Agreement or any other Related Agreement but have not been paid (collectively, the “Monthly Amount”). Any Principal Amount that remains outstanding on the Maturity Date shall be due and payable on the Maturity Date.

  • Adjustments to Required Subordinated Percentages and Amount (a) On any date, the Issuer may, at the direction of the Beneficiary, change the Required Subordinated Percentage of Class B Notes, the Required Subordinated Percentage of Class C Notes or the Required Subordinated Percentage of Class D Notes, in each case for the Class A(2015-1) Notes, without the consent of any Noteholders; provided that the Issuer has received written confirmation from each applicable Note Rating Agency that the change in such percentage will not result in a Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes.

  • Interest Coverage Ratio The Borrower will not permit the Interest Coverage Ratio to be less than 2.75 to 1.0 on the last day of any Fiscal Quarter.

  • Principal Payment Date Any unpaid principal of this promissory note (this "Demand Note") shall be paid on the Demand Date.

  • Maximum Total Leverage Ratio Permit the Total Leverage Ratio as of the end of any fiscal quarter ending on or after September 30, 2006, to be greater than the ratio set forth below opposite the fiscal quarter end: Fiscal Quarter Ending Ratio on or prior to December 31, 2008 6.50 to 1.0 thereafter but on or prior to December 31, 2010 6.00 to 1.0 after December 31, 2010 5.50 to 1.0

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