Common use of First Payment Clause in Contracts

First Payment. As of the Cut-off Date, the related Obligor has made the initial payment on such Receivable.

Appears in 38 contracts

Sources: Purchase Agreement (NISSAN AUTO RECEIVABLES Co II LLC), Sale and Servicing Agreement (Nissan Auto Receivables 2021-a Owner Trust), Sale and Servicing Agreement (Nissan Auto Receivables 2021-a Owner Trust)