Common use of Performance Covenants Clause in Contracts

Performance Covenants. With respect to any Leases originated during such Monthly Period: (a) For any Monthly Vintage Pool of Leases originated by Seller after the Closing Date, the aggregate Order Value of Leases in which the Obligor failed to make its first scheduled payment due shall not exceed 25% of the aggregate Order Value of the Monthly Vintage Pool; and (b) For any Seasoned Net Vintage Pool of Leases originated by Seller after the Closing Date, the aggregate related Collections (net of any amounts collected with respect to such Leases pursuant to the payment of sales and use taxes) is less than 6.5% of the aggregate related Order Value of the Seasoned Net Vintage Pool.

Performance Covenants. With respect to any Leases originated during such Monthly Period: (a) For any Monthly Vintage Pool of Leases originated by Seller after the Closing Date, the aggregate Order Value of Leases in which the Obligor failed to make its first payment prior to the second scheduled payment due date shall not exceed 25% of the aggregate Order Value of the Monthly Vintage Pool; and (b) For any Seasoned Net Vintage Pool of Leases originated by Seller after the Closing Date, the aggregate related Collections (net of any amounts collected with respect to such Leases pursuant to the payment of sales and use taxes) is less than 6.5% of the aggregate related Order Value of the Seasoned Net Vintage PoolPool for which the first scheduled payment is due.