Application of Collections. With respect to each Receivable (other than a Purchased Receivable), payments by or on behalf of the Obligor shall be applied to interest and principal in accordance with the Simple Interest Method.
Appears in 122 contracts
Sources: Sale and Servicing Agreement (World Omni Auto Receivables Trust 2025-D), Sale and Servicing Agreement (World Omni Auto Receivables Trust 2025-D), Sale and Servicing Agreement (World Omni Select Auto Trust 2025-A)
Application of Collections. With All payments received from or on behalf of an Obligor during each Collection Period with respect to each Receivable (other than a Purchased Receivable), payments by or on behalf of the Obligor shall be applied to interest and principal in accordance with the Simple Interest Method.
Appears in 10 contracts
Sources: Sale and Servicing Agreement (BMW Fs Securities LLC), Sale and Servicing Agreement (BMW Fs Securities LLC), Sale and Servicing Agreement (BMW Vehicle Owner Trust 2001-A)
Application of Collections. With respect to each Receivable (other than a Purchased Receivable), payments by or on behalf of the Obligor shall be applied to interest and principal in accordance with the [Simple Interest Method] [state other method].
Appears in 2 contracts
Sources: Receivables Servicing Agreement (Bear Stearns Asset Backed Funding Inc), Receivables Servicing Agreement (Bear Stearns Asset Backed Funding Ii Inc)
Application of Collections. With All payments received from or on behalf of an Obligor during each Collection Period with respect to each Receivable (other than a Purchased Receivable), payments by or on behalf of the Obligor ) shall be applied to interest and principal in accordance with the Simple Interest Method.Interest
Appears in 2 contracts
Sources: Sale and Servicing Agreement (Hyundai Abs Funding Corp), Sale and Servicing Agreement (Hyundai Abs Funding Corp)
Application of Collections. With respect to each -------------------------- Receivable (other than a Purchased Receivable), payments by or on behalf of the Obligor shall be applied to interest and principal in accordance with the Simple Interest Method.
Appears in 1 contract
Sources: Sale and Servicing Agreement (World Omni Auto Receivables LLC)