Modified Contract means, with respect to a Receivable, the related Contract (i) which at any time, was in default and which default was cured by adjusting or amending the contract terms or accepting a reduced payment, other than a Contract that was modified in connection with an insolvency proceeding under Chapter 13 of the Bankruptcy Code, or (ii) for which the APR, the number or amount of the Scheduled Payments or Principal Balance was amended or otherwise modified at any time.
Modified Contract means a Contract which, at any time, (a) was in default and which default was cured by adjusting or amending the contract terms (other than through a payment extension) or accepting a reduced payment, (b) for which the interest rate, the number or amount of the payments or the principal balance was amended or otherwise modified at any time, or (c) was amended or otherwise modified in any other material respect.
Modified Contract means, at any time the same is to be determined, a Vehicle Contract (a) that has been rewritten, restructured, amended or otherwise modified from its original terms seven (7) or more times, or (b) where the term of such Vehicle Contract has been extended (pursuant to one or more modifications) more than one hundred eighty (180) days from the original termination date. Notwithstanding the foregoing to the contrary, modifications solely to (i) change the day of the month when scheduled payments are made, or (ii) cure ambiguities, omissions, mistakes or defects shall not, in each case, be deemed a Modified Contract.
Examples of Modified Contract in a sentence
Cost Accounting Standards -- Eligibility for Modified Contract Coverage If the offeror is eligible to use the modified provisions of 48 CFR 9903.201-2(b) and elects to do so, the offeror shall indicate by checking the box below.
More Definitions of Modified Contract
Modified Contract. As defined in Section 2.2(b) of the Servicing Agreement.
Modified Contract means, with respect to a Receivable, the related Contract (i) was in default and which default was cured by adjusting or amending the contract terms or accepting a reduced payment, other than a Contract that was modified in connection with an insolvency proceeding under Chapter 13 of the Bankruptcy Code, or (ii) was amended or otherwise modified at any time to reduce the interest rate, extend the original term, reduce, or change the frequency of, Scheduled Payments or extend Scheduled Payment dates or reduce the Principal Balance. For the avoidance of doubt, Routine Modifications shall not cause the related Receivable to be deemed a “Modified Contract”.
Modified Contract. Any automobile, light-truck or van installment sales contract or installment loan and security agreement secured by an interest in an automobile, light-truck or van the terms of which have been modified and, as a result, such contract or agreement was repurchased by UAC from a Securitization Facility as required under the Securitization Facility Documents for such Securitization Facility.
Modified Contract a Contract which, at any time, was in payment default for more than 60 days and such payment default was cured by execution of a new Contract in order to adjust, amend, or reduce the payment terms of the original Contract.
Modified Contract means, at any time the same is to be determined, a Vehicle Contract (a) that has been rewritten, restructured, amended or otherwise modified from its original terms seven (7) or more times, or (b) where the term of such Vehicle Contract has been extended (pursuant to one or more modifications) more than one hundred eighty (180) days from the original termination date.
Modified Contract means, at any time the same is to be determined, a Vehicle Contract where the Contract Debtor thereon has made full contractual payments for at least ninety (90) consecutive days in the amounts called for by the terms of such Vehicle Contract after (a) such Vehicle Contract has been rewritten, restructured, amended or otherwise modified from its original terms seven (7) or more times, or (b) the term of such Vehicle Contract has been extended (pursuant to one or more modifications) more than one hundred eighty (180) days from the original termination date.
Modified Contract means, with respect to a Receivable, the related Contract (i) was in default and which default was cured by adjusting or amending the contract terms or accepting a reduced payment, other than a Contract that was modified in connection with an insolvency proceeding under Chapter 13 of the Bankruptcy Code, or (ii) was amended or otherwise modified at any time to reduce the interest rate, extend the original term, reduce, or change the frequency of, Scheduled Payments or extend Scheduled Payment dates or reduce the Principal Balance. For the avoidance of doubt, Routine Modifications shall not cause the related Receivable to be deemed a “Modified Contract”. “Monthly Loan Tape” means a data tape, which shall include with respect to each Receivable (i) the related Contract identification number, (ii) the identity of the related Originator, (iii) the current Principal Balance, (iv) the current number of days such Receivable is delinquent, (v) whether or not the related Obligor is a debtor in bankruptcy, (vi) the next payment date, (vii) the remaining term to maturity, (viii) the current maturity date, (ix) the original maturity date, (x) the number of extensions, (xi) the date of Contract (origination date), (xii) the funding date, (xiii) the original interest rate, (xiv) the current interest rate, (xv) the original monthly payment amount, (xvi) the current monthly payment amount, (xvii) the original principal balance (amount financed), (xviii) the original term to maturity, (xix) the State in which the related Obligor has a mailing address, (xx) the most recent FICO® score obtained with respect to the related Obligor, (xxi) history of payments delinquent (number of times delinquent) 0-29 days, 30-59 days, 60-89 days and 90 or more days, (xxii) whether such Receivable is a Hard Secured Receivable or Unsecured Receivable, (xxiii) whether such Receivable is an interest-bearing loan or a Precompute Receivable, (xxiv) the related branch ID, (xxv) payment frequency of such Receivable, (xxvi) with respect to the related Obligor, number of trade lines of such Obligor that has been more than sixty