Common use of Calculations and Notifications Clause in Contracts

Calculations and Notifications. On or before each Determination Date, the Calculation Agent shall determine the Fixed Amount due to the Counterparty on the next succeeding Fixed Rate Payer Payment Date and the Floating Amount due to the Trust on the next succeeding Floating Rate Payer Payment Date and the Calculation Agent shall notify the Counterparty in writing of both (i) the Floating Rate and (ii) the net amount due to the Counterparty (if such Fixed Amount is a higher amount) or to the Trust (if such Floating Amount is a higher amount). In addition, on each Determination Date the Calculation Agent shall deliver to the Counterparty (by facsimile, or email, with hard copy to follow) a statement (the “Calculation Statement”) setting forth with respect to the close of business on the immediately preceding Distribution Date the Reference Note Balance as of such Distribution Date. The Trust will give the Counterparty prompt written notice of any “Event of Default” under the Indenture (and in no event more than five Business Days following such “Event of Default”).

Calculations and Notifications. On or before each Determination Date, the Calculation Agent shall determine the Fixed Amount due to the Counterparty on the next succeeding Fixed Rate Payer Payment Date and the Floating Amount due to the Trust on the next succeeding Floating Rate Payer Payment Date and the Calculation Agent shall notify the Counterparty in writing writing, on such Determination Date, of both (i) the Floating Rate and (ii) the net amount due to the Counterparty (if such Fixed Amount is a higher amount) or to the Trust (if such Floating Amount is a higher amount). In addition, on or before each Determination Date the Calculation Agent shall deliver to the Counterparty (by facsimile, or email, facsimile with hard copy to follow) a statement (the “ Calculation Statement “Calculation Statement”) setting forth with respect to the close of business on the immediately preceding Distribution Date the Reference Note Balance as of such Distribution Date. The Trust will give the Counterparty prompt written notice of any “Event of Default” under the Indenture (and in no event more than five Business Days following such “Event of Default”).

Calculations and Notifications. On or before each Determination Date, the Calculation Agent shall determine the Fixed Amount due to the Counterparty on the next succeeding Fixed Rate Payer Payment Date and the Floating Amount due to the Trust on the next succeeding Floating Rate Payer Payment Date and the Calculation Agent shall notify the Counterparty in writing writing, on such Determination Date, of both (i) the Floating Rate and (ii) the net amount due to the Counterparty (if such Fixed Amount is a higher amount) or to the Trust (if such Floating Amount is a higher amount). In addition, on or before each Determination Date the Calculation Agent shall deliver to the Counterparty (by facsimile, or email, facsimile with hard copy to follow) a statement (the “Calculation Statement”) setting forth with respect to the close of business on the immediately preceding Distribution Date the Reference Note Balance as of such Distribution Date. The Trust will give the Counterparty prompt written notice of any “Event of Default” under the Indenture (and in no event more than five Business Days following such “Event of Default”).