Common use of Scheduled Payments and APR Clause in Contracts

Scheduled Payments and APR. No Receivable has a final scheduled payment date later than six months preceding the Final Scheduled Maturity Date; each Receivable provides for payments that fully amortize the Amount Financed over the original term of the Receivable, except that Leases also provide for payments of the related Termination Values, and is either a Precomputed Receivable or a Simple Interest Receivable; each Receivable has an APR of at least 3.0%; as of each Subsequent Cutoff Date, the weighted average of the Initial Cutoff Date APR and each Subsequent Cutoff Date APR (weighted on the basis of the respective aggregate Contract Values of the Receivables for which each such APR is used to calculate the Contract Value) will not be less than the sum of the weighted average of the Interest Rates for the Class A Notes and Class B Notes plus the Servicing Fee.

Scheduled Payments and APR. No Receivable has a final scheduled payment date later than six months preceding the Final Scheduled Maturity Date; each Receivable provides for payments that fully amortize the Amount Financed over the original term of the Receivable, except that Leases also provide for payments of the related Termination Values, and is either a Precomputed Receivable or a Simple Interest Receivable; each Receivable has an APR of at least 3.0[__]%; as of each Subsequent Cutoff Date, the weighted average of the Initial Cutoff Date APR and each Subsequent Cutoff Date APR (weighted on the basis of the respective aggregate Contract Values of the Receivables for which each such APR is used to calculate the Contract Value) will not be less than the sum of the weighted average of the Interest Rates for the Class A Notes and Class B Notes plus the Servicing Fee.