APR definition

APR means, with respect to any Receivable, the annual percentage rate of interest stated in such Receivable.

APR of a Contract means annual percentage rate and is the annual rate of finance charges specified in such Contract.

Examples of APR in a sentence

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.
Each Receivable has an APR of at least 0.00% and not more than 12.00%.
Except as provided in Section 4.02 or to the extent required by law or court order, the Servicer shall not amend or otherwise modify any Receivable such that the total number of Scheduled Payments, the Amount Financed or the APR is altered, or extend the maturity of such Receivable beyond the last day of the Collection Period preceding the Class B Final Scheduled Payment Date.
The 2025-1 Lease Agreement is a closed-end lease that provides for equal monthly payments by the Lessee, which scheduled payments, if made when due, fully amortize the net capitalized cost of such 2025-1 Lease Agreement to the Booked Residual Value by the end of the Lease Term, based on the related APR.
Subject to Section 3.02, the Servicer shall not amend or otherwise modify any Receivable such that the total number of Scheduled Payments is extended beyond the Final Scheduled Maturity Date, or either the Amount Financed or the APR is altered, unless it is required to take the action by law or court order.

APR means, with respect to a Receivable, the annual rate of finance charges stated in the related Contract or then applicable to such Receivable.

APR means, with respect to a Receivable, the rate per annum of finance charges stated in such Receivable as the “annual percentage rate” (within the meaning of the Federal Truth-in-Lending Act). If, after the Closing Date, the rate per annum with respect to a Receivable as of the related Cutoff Date is reduced (i) as a result of an Insolvency Proceeding involving the related Obligor or (ii) pursuant to the Servicemembers Civil Relief Act or similar State law, “Annual Percentage Rate” or “APR” shall refer to such reduced rate.

APR of a Contract means the annual percentage rate used to determine the total interest expected to be charged over the term of a Contract as of its inception, as shown on such Contract.

APR of a Receivable shall mean the annual percentage rate of interest stated in the Contract related to such Receivable.