Scheduled Payments. As of the Cut-Off Date, scheduled payments under such Contract are applied in accordance with the Rule of 78's method or the simple interest method and are due monthly in level payments through its Maturity Date sufficient to fully amortize the principal balance of such Contract by its Maturity Date, assuming timely payment by Obligors on Simple Interest Contracts, except that the payment in the first or last month in the life of the Contract may be minimally different from the level payment.
Appears in 14 contracts
Sources: Sale and Servicing Agreement (WFS Financial Auto Loans Inc), Sale and Servicing Agreement (WFS Receivables Corp), Sale and Servicing Agreement (WFS Financial Auto Loans Inc)
Scheduled Payments. As of the Cut-Off Closing Date, scheduled payments under such Contract are applied in accordance with the Rule of 78's method or the simple interest method and are due monthly in level payments through its Maturity Date sufficient to fully amortize the principal balance of such Contract by its Maturity Date, assuming timely payment by Obligors on Simple Interest Contracts, except that the payment in the first or last month in the life of the Contract may be minimally different from the level payment.
Appears in 11 contracts
Sources: Sale and Servicing Agreement (WFS Receivables Corp 4), Sale and Servicing Agreement (WFS Receivables Corp 3), Sale and Servicing Agreement (WFS Financial 2004-4 Owner Trust)
Scheduled Payments. As of the Cut-Off Date, scheduled payments under such Contract are applied in accordance with the Rule of 78's method or the 32 38 simple interest method and are due monthly in level payments through its Maturity Date sufficient to fully amortize the principal balance of such Contract by its Maturity Date, assuming timely payment by Obligors on Simple Interest Contracts, except that the payment in the first or last month in the life of the Contract may be minimally different from the level payment.
Appears in 2 contracts
Sources: Sale and Servicing Agreement (WFS Financial 1996-D Owner Trust), Sale and Servicing Agreement (WFS Financial 1997-a Owners Trust)
Scheduled Payments. As of the Cut-Off Date, scheduled payments under such Contract are applied in accordance with the Rule of 78's method or the simple interest method and are due monthly in level payments through its Maturity Date sufficient to fully amortize the principal balance of such Contract by its Maturity Date, assuming timely payment by Obligors on Simple Interest Contracts, except that the payment in the first or last month in the life of the Contract may be minimally different from the level payment.that
Appears in 2 contracts
Sources: Sale and Servicing Agreement (WFS Financial 1997-D Owner Trust), Sale and Servicing Agreement (WFS Financial 1998 a Owner Trust)
Scheduled Payments. As of the Cut-Off Date, scheduled payments under such Contract are applied in accordance with the Rule of 78's ’s method or the simple interest method and are due monthly in level payments through its Maturity Date sufficient to fully amortize the principal balance of such Contract by its Maturity Date, assuming timely payment by Obligors on Simple Interest Contracts, except that the payment in the first or last month in the life of the Contract may be minimally different from the level payment.
Appears in 1 contract
Sources: Sale and Servicing Agreement (United Pan Am Financial Corp)