Common use of Determination of Monthly Interest Clause in Contracts

Determination of Monthly Interest. The amount of monthly interest payable on the Notes shall be determined by the Servicer as of each Determination Date and shall be an amount equal to the product of (i)(A) a fraction, the numerator of which is the actual number of days in the related Accrual Period and the denominator of which is 360, times (B) the Note Rate in effect with respect to the related Accrual Period, and (ii) the average daily outstanding principal balance of the Notes during such Accrual Period (the “Monthly Interest”); provided, however, that in addition to Monthly Interest, an amount equal to the sum of (i) the amount of any unpaid Deficiency Amount, as defined below, plus (ii) an amount equal to the product of (A) a fraction, the numerator of which is the actual number of days in the related Accrual Period and the denominator of which is 360, times (B) a rate equal to 2% per annum over the Note Rate in effect with respect to the related Accrual Period, times (C) any Deficiency Amount, as defined below (or the portion thereof which has not theretofore been paid to Noteholders) plus, (iii) the amount of any unpaid Fees for the related Accrual Period as determined pursuant to the Note Purchase Agreement (the “Fee Amount”), plus (iv) any Additional Amounts for the related Accrual Period as determined pursuant to the Note Purchase Agreement and plus (v) following the occurrence of a Servicer Default, Early Amortization

Determination of Monthly Interest. The amount of monthly interest payable on the Notes shall be determined by the Servicer as of each Determination Date and shall be an amount equal to the product of (i)(A) a fraction, the numerator of which is the actual number of days in the related Accrual Period and the denominator of which is 360, times (B) the Note Rate in effect with respect to the related Accrual Period, and (ii) the average daily outstanding principal balance of the Notes during such Accrual Period (the “Monthly Interest”); provided, however, that in addition to Monthly Interest, an amount equal to the sum of (i) the amount of any unpaid Deficiency Amount, as defined below, plus (ii) an amount equal to the product of (A) a fraction, the numerator of which is the actual number of days in the related Accrual Period and the denominator of which is 360, times (B) a rate equal to 2% per annum over the Note Rate in effect with respect to the related Accrual Period, times (C) any Deficiency Amount, as defined below (or the portion thereof which has not theretofore been paid to Noteholders) plus, (iii) the amount of any unpaid Fees for the related Accrual Period as determined pursuant to the Note Purchase Agreement (the “Fee Amount”), plus (iv) any Additional Amounts for the related Accrual Period as determined pursuant to the Note Purchase Agreement and plus (v) following the occurrence of a Servicer Default, Early AmortizationAmortization Event or Event of Default, an amount equal to the product of the Note Principal, a fraction, the numerator of which is the actual number of days in the related Accrual Period and the denominator of which is 365 or 366, as applicable, and a rate equal to the difference between the 2% per annum over the Base Rate (as defined in the Note Purchase Agreement) in effect for such period and the Note Rate in effect for such period (such sum being herein called the “Additional Interest”) shall also be payable by the Issuer. The “Deficiency Amount” for any Determination Date shall be equal to the excess, if any, of (x) the sum of the Monthly Interest and the Additional Interest as determined pursuant to the preceding sentence for the preceding Settlement Date, over (y) the amount actually paid in respect thereof on the preceding Settlement Date.

Determination of Monthly Interest. The amount of monthly interest payable on the Notes shall be determined by the Servicer as of each Determination Date and shall be an amount equal to the sum of (x) the product of (i)(A) a fraction, the numerator of which is the actual number of days in the related Accrual Period and the denominator of which is 360, times (B) the Note Rate in effect with respect to the related Accrual Period, and (ii) the average daily outstanding principal balance of the Notes during such Accrual Period and (y) any Monthly Interest not paid in full on the preceding Settlement Date plus interest thereon at the applicable Note Rate (the “Monthly Interest”); provided, however, that in addition to Monthly Interest, an amount equal to the sum of (i) the amount of any unpaid Deficiency Fees for the related Accrual Period as determined pursuant to the Note Purchase Agreement (the “Fee Amount, as defined below”), plus (ii) any Additional Amounts for the related Accrual Period as determined pursuant to the Note Purchase Agreement, plus (iii) following the occurrence of a Servicer Default, Early Amortization Event or Event of Default, an amount equal to the product of (A) the Note Principal, a fraction, the numerator of which is the actual number of days in the related Accrual Period and the denominator of which is 360365 or 366, times (B) as applicable, and a rate equal to the difference between a rate equal to 2% per annum over the Base Rate (as defined in the Note Purchase Agreement) in effect for such period and the Note Rate in effect with respect to the related Accrual Period, times for such period (C) any Deficiency Amount, as defined below (or the portion thereof which has not theretofore been paid to Noteholders) plus, (iii) the amount of any unpaid Fees for the related Accrual Period as determined pursuant to the Note Purchase Agreement (such sum being herein called the “Fee AmountAdditional Interest”), plus (iv) any Additional Amounts for shall also be payable by the related Accrual Period as determined pursuant to the Note Purchase Agreement and plus (v) following the occurrence of a Servicer Default, Early AmortizationIssuer.

Determination of Monthly Interest. (a) The amount of monthly interest payable ("Monthly Interest")distributable ---------------- from the Series 2001-A Expense Subaccount with respect to the Series 2001-A Notes on the Notes any Payment Date shall be determined by the Servicer as of each Determination Date and shall be an amount equal to the product of (i)(Ai) a fraction, the numerator of which is the actual number of days in the related Accrual Interest Period and the denominator of which is 360, times multiplied by (Bii) the Note Interest Rate in effect with respect to the related Accrual Period, Interest Period and multiplied by (iiiii) the average daily outstanding principal balance Series Outstanding Amount as of the Notes during such Accrual Period close of business on the last day of the related Interest Period. (b) On the Determination Date preceding each Payment Date, the Servicer shall determine the excess (the “"Interest Shortfall"), if any, of ------------------- (x) the Monthly Interest”); providedInterest for such Payment Date over (y) the aggregate amount of funds allocated and available to pay such Monthly Interest on such Payment Date. If the Interest Shortfall with respect to any Payment Date is greater than zero, however, that in addition to Monthly Interestthen on each subsequent Payment Date until such Interest Shortfall is fully paid, an additional amount equal to the sum of (i"Additional Interest") the amount of any unpaid Deficiency Amount, as defined below, plus (ii) an amount equal to the product of (i) -------------------- (A) a fraction, the numerator of which is the actual number of days in the related Accrual Interest Period ending on such Payment Date and the denominator of which is 360, times multiplied by (B) a rate equal to 2the sum of (x) the Note Interest Rate and (y) 2.0% per annum over the Note Rate in effect and (ii) such Interest Shortfall shall be payable as provided herein with respect to the related Accrual Period, times (C) any Deficiency Amount, as defined below (or the portion thereof which has not theretofore been paid to Noteholders) plus, (iii) the amount of any unpaid Fees for the related Accrual Period as determined pursuant Series 2001-A Notes. Notwithstanding anything herein to the Note Purchase Agreement (the “Fee Amount”)contrary, plus (iv) any Additional Amounts for the related Accrual Period as determined pursuant Interest shall be payable or distributed only to the Note Purchase Agreement and plus (v) following the occurrence of a Servicer Default, Early Amortizationextent permitted by applicable law.