Common use of No Payment Default Clause in Contracts

No Payment Default. Except for payment delinquencies that have been continuing for a period of not more than 29 days, no payment default under the terms of any Receivable exists as of the Cutoff Date. Test 11-1: Delinquency Observe TMCC’s Data Tape and confirm the Receivable was not more than 29 days delinquent as of the Cutoff Date.

Appears in 70 contracts

Samples: Asset Representations Review Agreement (Toyota Auto Receivables 2024-D Owner Trust), Asset Representations Review Agreement (Toyota Auto Receivables 2024-D Owner Trust), Asset Representations Review Agreement (Toyota Auto Receivables 2024-C Owner Trust)

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No Payment Default. Except for payment delinquencies that have been continuing for a period of not more than 29 [__] days, no payment default under the terms of any Receivable exists as of the Cutoff Date. Test 11-1: Delinquency Observe TMCC’s Data Tape and confirm the Receivable was not more than 29 [__] days delinquent as of the Cutoff Date.

Appears in 2 contracts

Samples: Asset Representations Review Agreement (Toyota Auto Finance Receivables LLC), Asset Representations Review Agreement (Toyota Auto Finance Receivables LLC)

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No Payment Default. Except for payment delinquencies that have been continuing for a period of not more than 29 [_] days, no payment default under the terms of any Receivable exists as of the Cutoff Date. Test 11-1: Delinquency Observe TMCC’s Data Tape and confirm the Receivable was not more than 29 [_] days delinquent as of the Cutoff Date.

Appears in 1 contract

Samples: Asset Representations Review Agreement (Toyota Auto Finance Receivables LLC)

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