Common use of Determination of Note Rate Clause in Contracts

Determination of Note Rate. Until the Outstanding Principal Balance of each Class of Offered Notes has been reduced to zero, the Indenture Trustee shall determine LIBOR, the Class A Note Interest Rate, the Class B Note Interest Rate, the Class C Note Interest Rate and the Class D Note Interest Rate for such Classes of Notes for each Interest Accrual Period as provided in Section 7.06 of the Transfer and Servicing Agreement and shall inform the Issuer, the Trust Depositor and the Servicer at their respective email addresses given to the Indenture Trustee in writing thereof. Any such determination by the Indenture Trustee of the amount of interest distributable on the Offered Notes shall be binding on the parties absent manifest error.

Determination of Note Rate. Until the Outstanding Principal Balance of each Class of Offered Notes has been reduced to zero, the Indenture Trustee shall determine LIBOR, the Class A A-1 Note Interest Rate, the Class A-2A Note Interest Rate, the Class A-2B Note Interest Rate, the Class B Note Interest Rate, the Class C Note Interest Rate and the Class D C Note Interest Rate for such Classes of Notes for each Interest Accrual Period as provided in Section 7.06 of the Transfer and Servicing Agreement and shall inform the Issuer, the Trust Depositor and the Servicer at their respective email addresses given to the Indenture Trustee in writing thereof. Any such determination by the Indenture Trustee of the amount of interest distributable on the Offered Notes shall be binding on the parties absent manifest error.

Determination of Note Rate. Until the Outstanding Principal Balance of each Class of Offered Notes has been reduced to zero, the Indenture Trustee shall determine LIBOR, the Class A Note Interest Rate, the Class B Note Interest Rate, the Class C Note Interest Rate and the Class D C Note Interest Rate for such Classes of Notes for each Interest Accrual Period as provided in Section 7.06 of the Transfer and Servicing Agreement and shall inform the Issuer, the Trust Depositor and the Servicer at their respective email addresses given to the Indenture Trustee in writing thereof. Any such determination by the Indenture Trustee of the amount of interest distributable on the Offered Notes shall be binding on the parties absent manifest error.