Common use of Term to Maturity Clause in Contracts

Term to Maturity. Each Receivable had a remaining term to maturity as of the Cutoff Date of not less than three (3) monthly payments. 1: Confirm the sum of the number of payments together with any first and last scheduled monthly payments (if applicable) is within the allowable number of payments to maturity 2: Confirm the remaining terms to maturity as stated within the data tape or servicing system is within the allowable number of payments to maturity RPA 3.4(r) Annual Percentage Rate. Each Receivable has an APR of not more than 25.00%. 1: Confirm the Annual Percentage Rate (APR) as stated within the “Truth in Lending” section of the Contract does not exceed the maximum allowable APR