Actuarial Receivable definition

Actuarial Receivable means any Receivable under which the portion of a payment with respect thereto allocable to interest and the portion of a payment with respect thereto allocable to principal is determined in accordance with the Actuarial Method.

Actuarial Receivable means any Receivable which provides for the allocation of payments according to the "actuarial" method.

Actuarial Receivable means a Receivable under which the portion of the payment allocated to interest and the portion allocable to principal is determined in accordance with the Actuarial Method.

Examples of Actuarial Receivable in a sentence

• With respect to each Actuarial Receivable, the Actuarial Advance shall increase Outstanding Actuarial Advances.

• The Servicer will be obligated to make an Actuarial Advance in respect of an Actuarial Receivable only to the extent that the Servicer, in its sole discretion, shall determine that the Actuarial Advance shall be recoverable from subsequent collections or recoveries on any Actuarial Receivable.

• With respect to each Actuarial Receivable, (other than a Repurchased Receivable), payments by or on behalf of the Obligor, (other than amounts, if any, collected with respect to administrative fees, including late fees, prepayment fees and liquidation fees collected on the Receivable) shall be applied to interest and principal in accordance with the Actuarial Method.

• If the Servicer shall determine that an Outstanding Actuarial Advance with respect to any Actuarial Receivable shall not be recoverable, the Servicer shall be reimbursed from any collections made on other Receivables in the Trust, and Outstanding Actuarial Advances with respect to such Actuarial Receivable shall be reduced accordingly.

• With respect to Actuarial Receivables, any remaining excess shall be added to the Payahead Balance, and shall be applied to prepay the Actuarial Receivable, but only if the sum of such excess and the previous Payahead Balance shall be sufficient to prepay the Actuarial Receivable in full.

More Definitions of Actuarial Receivable

Actuarial Receivable means a Receivable that provides for (i) amortization of the loan over a series of fixed level payment monthly installments and (ii) each monthly installment, including the monthly installment representing the final payment on the Receivable, to consist of an amount of interest equal to 1/12 of the Contract Rate of the loan multiplied by the unpaid principal balance of the loan, and an amount of principal equal to the remainder of the monthly installment.

Actuarial Receivable means any Receivable under which the portion of a payment allocable to interest and the portion of a payment allocable to principal is determined in accordance with the "actuarial" method.

Actuarial Receivable. Any Receivable under which the portion of a payment allocable to interest and the portion allocable to principal is determined in accordance with the Actuarial Method.

Actuarial Receivable means any Receivable under which the portion of a payment with respect thereto allocable to interest and the portion of a payment with respect thereto allocable to principal is determined in accordance with the Actuarial Method. "Advance" shall mean an Actuarial Advance or a Last Scheduled Payment Advance, as the context may require. "Affiliate" shall mean, with respect to any Person, any other Person directly or indirectly controlling, controlled by, or under direct or indirect common control with such specified Person. For purposes of this definition, "control" when used with respect to any specified Person shall mean the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms "controlling" and "controlled" have meanings correlative to the foregoing. "Agreement" shall have the meaning specified in the recitals hereto. "Amount Financed" shall mean, with respect to a Receivable, the aggregate amount advanced under such Receivable toward the purchase price of the Financed Vehicle and any related costs. "Applicable Tax State" shall mean, as of any date of determination, each state as to which any of the following is then applicable: (a) a state in which the Owner Trustee maintains the Corporate Trust Office, (b) a state in which the Owner Trustee maintains its principal executive offices, and (c) a state in which the Servicer regularly conducts servicing and collection operations other than purely ministerial activities and which relate to a material portion of the Receivables. "APR" of a Receivable shall mean the annual percentage rate of interest stated in the Contract related to such Receivable. "Authorized Officer" shall mean any officer within the Corporate Trust Office of the Indenture Trustee or the Owner Trustee, as the case may be, including any vice president, assistant vice president, secretary, assistant secretary, financial services officer or any other officer of the Indenture Trustee or the Owner Trustee, as the case may be, customarily performing functions similar to those performed by any of the above designated officers and also, with respect to a particular matter, any other officer to whom such matter is referred because of such officer's knowledge of and familiarity with the particular subject and shall also mean, with respect to the Owner Trustee, any officer of the Administrator. "Available Funds" shall mean, for any ...

Actuarial Receivable means any Receivable providing for the amortization of the Receivable over a series of fixed level monthly payments. Each Actuarial Receivable provides for the payment by the Obligor of a specified total number of payments, payable in monthly installments on the related due date, which total represents the principal amount financed and finance charges in an amount calculated on the basis of a stated APR for the term of such Receivable.

Actuarial Receivable means any Receivable under which the portion of a pay

Actuarial Receivable means any monthly actuarial Receivable.