ACCRUAL OF INTEREST ON THE CERTIFICATES. Certificates entitled to receive interest in accordance with the related Pooling and Servicing Agreement shall accrue interest at the applicable Pass-Through Rates on the basis of a 360-day year consisting of twelve 30-day months and on the assumption that each Interest Accrual Period consists of 30 days.
Appears in 15 contracts
Samples: Pooling and Servicing Agreement (Residential Resources Inc), Pooling and Servicing Agreement (Oakwood Mortgage Investors Inc), Pooling and Servicing Agreement (Bombardier Capital Mortgage Securitization Corp)
ACCRUAL OF INTEREST ON THE CERTIFICATES. Certificates entitled to receive interest in accordance with the related Pooling and Servicing Agreement shall accrue interest at the applicable Pass-Through Rates on the basis of a 360-day year consisting of twelve 30-day months and on the assumption that each Interest Accrual Period consists of 30 days, unless otherwise provided in the Pooling and Servicing Agreement.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Union Planters Mortgage Finance Corp), Pooling and Servicing Agreement (Union Planters Home Equity Corp)
ACCRUAL OF INTEREST ON THE CERTIFICATES. Certificates entitled to receive interest in accordance with the related Pooling and Servicing Agreement shall accrue interest at the applicable Pass-Pass- Through Rates on the basis of a 360-day year consisting of twelve 30-day months and on the assumption that each Interest Accrual Period consists of 30 days.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Oakwood Mortgage Investors Inc)
