Simple Interest. Each Receivable provides for scheduled monthly payments that fully amortize the Amount Financed by maturity (except for minimally different payments in the first or last month in the life of the Receivable) and provides for a finance charge or yield interest at its APR, in either case calculated based on the Simple Interest Method.
Appears in 85 contracts
Samples: Sale and Servicing Agreement (Toyota Auto Receivables 2024-D Owner Trust), Sale and Servicing Agreement (Toyota Auto Receivables 2024-D Owner Trust), Receivables Purchase Agreement (Toyota Auto Finance Receivables LLC)
Simple Interest. Each Receivable provides for scheduled monthly payments that fully amortize the Amount Financed by maturity (except for minimally different payments in the first or last month in the life of the Receivable) and provides provide for a finance charge or yield interest at its APR, in either case calculated based on the Simple Interest Method.
Appears in 58 contracts
Samples: Receivables Purchase Agreement (Toyota Auto Receivables 2019-B Owner Trust), Sale and Servicing Agreement (Toyota Auto Receivables 2019-B Owner Trust), Receivables Purchase Agreement (Toyota Auto Receivables 2019-B Owner Trust)
