Common use of Calculation of Rates Clause in Contracts

Calculation of Rates. On the Term Reset Date preceding each Term Funding Date, the Servicer shall calculate, and the Certificateholder Agent shall approve in writing, the Blended Interest Rate (and the components thereof) for each Class of Certificates that will take effect as of such Term Funding Date, and notify the Certificateholder Agent and the Trustee in writing of the rates or other amounts determined with respect to each such calculation. If a Term Funding Date occurs in the middle of an Accrual Period, for purposes of determining the Certificate Interest Rate, the Accrual Period for the portion of the 99-1 Term Certificates so funded shall be deemed to commence on such Term Funding Date.