Class A Monthly Interest Sample Clauses
The 'Class A Monthly Interest' clause defines the calculation and payment of interest owed to holders of Class A securities on a monthly basis. Typically, this clause specifies the interest rate, the method for determining the interest amount each month, and the payment schedule, often tied to the performance of underlying assets or cash flows. Its core practical function is to ensure that Class A investors receive regular, predictable income, thereby providing clarity and certainty regarding their expected returns.
Class A Monthly Interest. On each Business Day during a Monthly Period, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw first from the Cap Proceeds Account to the extent of the Cap Receipt Amount and then from the Collection Account and then from the Payment Reserve Account, and deposit into the Interest Funding Account for distribution on the next Distribution Date to the Class A Securityholders, to the extent of the Available Series 1998-3 Finance Charge Collections for such Business Day, an amount equal to the lesser of (x) the Available Series 1998-3 Finance Charge Collections and (y) the excess of (1) the sum of Class A Monthly Interest for the Interest Accrual Period beginning in such Monthly Period and Carryover Class A Interest over (2) any amounts with respect thereto previously deposited into the Interest Funding Account on any prior Business Day during such Monthly Period. Notwithstanding anything to the contrary herein, the portion of Carryover Class A Interest that constitutes Class A Additional Interest shall be payable or distributable to Class A Securityholders only to the extent permitted by applicable law.
Class A Monthly Interest. An amount equal to the lesser of
(A) the Class A Modified Required Amount and
(B) the sum of Series Finance Charge Collections and Series Additional Allocable Amounts shall be withdrawn from the Series Collections Account and deposited into the Series Distribution Account.
Class A Monthly Interest. An amount equal to the lesser of (A) the Class A Modified Required Amount and
Class A Monthly Interest. On each Business Day during a Monthly Period, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw first from the Collection Account and then from the Payment Reserve Account, and deposit into the Interest Funding Account for distribution on the next Distribution Date to the Class A Securityholders, to the extent of the Available Series 1999- Finance Charge Collections for such Business Day, an amount equal to the lesser of (x) the Available Series 1999- Finance Charge Collections and (y) the excess of (1) the sum of Class A Monthly Interest and Carryover Class A Interest over (2) any amounts with respect thereto previously deposited into the Interest Funding Account on any prior Business Day during such Monthly Period. Notwithstanding anything to the contrary herein, the portion of Carryover Class A Interest that constitutes Class A Additional Interest shall be payable or distributable to Class A Securityholders only to the extent permitted by applicable law.
Class A Monthly Interest. On each Distribution Date, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw from the Collection Account and distribute to the Class A Certificateholders to the extent of any Available Yield Funds, an amount equal to Class A Monthly Interest for such Distribution Date, plus the amount of any Class A Monthly Interest previously due but not paid to the Class A Certificateholders on a prior Distribution Date, plus any additional interest at the Class A Certificate Rate with respect to interest amounts that were due but not paid on a prior Distribution Date.
Class A Monthly Interest. On each Distribution Date, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw from the Collection Account for distribution to the Class A Certificateholders to the extent funds are available from the Floating Allocation Percentage of Yield Collections for the Due Period immediately preceding such Distribution Date, an amount equal to Class A Monthly Interest for such Distribution Date plus the amount of any Class A Monthly Interest previously due but not paid to the Class A Certificateholders on a prior Distribution Date or Special Payment Date plus any additional interest at the Class A Certificate Rate plus 2% per annum with respect to interest amounts that were due but not paid on a prior Distribution Date or Special Payment Date.
Class A Monthly Interest. On each Distribution Date, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw from the Collection Account for distribution to the Class A Certificateholders to the extent funds are available from the Floating Allocation Percentage of Yield Collections for the Due Period immediately preceding such Distribution Date, an amount equal to Class A Monthly Interest for such Distribution Date plus the amount of any Class A Monthly Interest previously due but not paid to the Class A Certificateholders on a prior Distribution Date or Special Payment Date plus any additional interest at the Class A Certificate Rate plus 2% per annum with respect to interest amounts that were due but not paid on a prior Distribution Date or Special Payment Date. Interest on the Class A Certificates for any Distribution Date shall be calculated on the basis of the actual number of days in the period from and including the preceding Distribution Date (or, in the case of the first Distribution Date, from and including the Closing Date) to but excluding such Distribution Date and a 360-day year.
Class A Monthly Interest. An amount equal to Class A Monthly Interest for the related Distribution Period, PLUS any Class A Monthly Interest due with respect to any prior Distribution Period but not previously distributed to the Class A Certificateholders on a prior Distribution Date, PLUS to the extent permitted by law, additional interest at the Class A Certificate Rate for such Distribution Period that has accrued on Class A Monthly Interest that was due pursuant to this clause (ii) but was not previously distributed to the Class A Certificateholders on a prior Distribution Date shall be deposited in the Distribution Account.
Class A Monthly Interest. On the June 2003 Transfer Date and on each Transfer Date thereafter, the Trustee, acting in accordance with instructions from the Servicer shall withdraw from the Accumulation Period Reserve Account and deposit in the Distribution Account for distribution on the following Distribution Date to the Class A Securityholders, to the extent of funds available, an amount equal to the Class A Monthly Interest for the related Interest Accrual Period.
Class A Monthly Interest. An amount equal to the lesser of (A) the Class A Modified Required Amount and (B) the sum of Series Finance Charge Collections and Series Additional Allocable Amounts