Common use of DETERMINATION OF THE LIBOR RATE Clause in Contracts

DETERMINATION OF THE LIBOR RATE. On each LIBOR Rate Adjustment Date, LIBOR shall be established by the Indenture Trustee and as to any Accrual Period, LIBOR will equal the rate for United States dollar deposits for one month which appears on the Dow Xxxxx Telerate Screen Page 3750 as of 11:00 A M , London time, on that LIBOR rate adjustment date. Dow Xxxxx Telerate Screen Page 3750 means the display designated as page 3750 on the Telerate Service or any other page as may replace page 3750 on that service for the purpose of displaying London interbank offered rates of major banks. If the rate does not appear on that page or any other page as may replace that page on that service, or if the service is no longer offered, any other service for displaying LIBOR or comparable rates as may be selected by the Indenture Trustee after consultation with the Servicer, the rate will be the reference bank rate. The Reference Bank Rate will be determined on the basis of the rates at which deposits in the U. S. Dollars are offered by the reference banks, which shall be three major banks that are engaged in transactions in the London interbank market, selected by the Indenture Trustee after consultation with the Servicer. The Reference Bank Rate will be determined as of 11:00 A M , London time, on the LIBOR rate adjustment date to prime banks in the London interbank market for a period of one month in amounts approximately equal to the Class Principal Balance of the Class A Notes. The Indenture Trustee will request the principal London office of each of the reference banks to provide a quotation of its rate. If at least two quotations are provided, the rate will be the arithmetic mean of the quotations. If on that date fewer than two quotations are provided as requested, the rate will be the arithmetic mean of the rates quoted by one or more major banks in New York City, selected by the Indenture Trustee after consultation with the Servicer, as of 11:00 A M , New York City time, on that date for loans in U S Dollars to leading European banks for a period of one month in amounts approximately equal to the note balance of the Class A Notes. If no quotations can be obtained, the rate will be LIBOR for the prior Payment Date; provided however, if, under the priorities listed previously in this paragraph, LIBOR for a Payment Date would be based on LIBOR for the previous Payment Date for the third consecutive Payment Date, the Indenture Trustee after consultation with the Servicer shall select an alternative comparable index over which the Indenture Trustee has no control, used for determining one-month Eurodollar lending rates that is calculated and published or otherwise made available by an independent party. LIBOR business day means any day other than (a) a Saturday or a Sunday or (b) a day on which banking institutions in the city of London, England or New York, New York are required or authorized by law to be closed. The establishment of LIBOR by the Indenture Trustee and the Indenture Trustee's subsequent calculation of the Note Interest Rate applicable to the Class A, Class M-2 and Class B-1 Notes for the relevant Accrual Period, in the absence of manifest error, will be final and binding.

DETERMINATION OF THE LIBOR RATE. On each LIBOR Rate Adjustment Date, LIBOR shall be established by the Indenture Trustee and as to any Accrual Period, LIBOR will equal the rate for United States dollar deposits for one month which appears on the Dow Xxxxx Telerate Screen Page 3750 as of 11:00 A M A.M., London time, on that LIBOR rate adjustment date. Dow Xxxxx Telerate Screen Page 3750 means the display designated as page 3750 on the Telerate Service or any other page as may replace page 3750 on that service for the purpose of displaying London interbank offered rates of major banks. If the rate does not appear on that page or any other page as may replace that page on that service, or if the service is no longer offered, any other service for displaying LIBOR or comparable rates as may be selected by the Indenture Trustee after consultation with the Servicer, the rate will be the reference bank rate. The Reference Bank Rate will be determined on the basis of the rates at which deposits in the U. S. U.S. Dollars are offered by the reference banks, which shall be three major banks that are engaged in transactions in the London interbank market, selected by the Indenture Trustee after consultation with the Servicer. The Reference Bank Rate will be determined as of 11:00 A M A.M., London time, on the LIBOR rate adjustment date Rate Adjustment Date on the basis of rates offered by the Reference Banks to prime banks in the London interbank market for a period of one month in amounts approximately equal to the aggregate Class Principal Balance of the Class A A, Class 1M-1, Class 2M and Class 2B-1 Notes. The Indenture Trustee will request the principal London office of each of the reference banks Reference Banks to provide a quotation of its rate. If at least two quotations are provided, the rate will be the arithmetic mean of the quotations. If on that date fewer than two quotations are provided as requested, the rate will be the arithmetic mean of the rates quoted by one or more major banks in New York City, selected by the Indenture Trustee after consultation with the Servicer, as of 11:00 A M A.M., New York City time, on that date for loans in U S U.S. Dollars to leading European banks for a period of one month in amounts approximately equal to the note balance aggregate Class Principal Balance of the Class A A, Class 1M-1, Class 2M and Class 2B-1 Notes. If no quotations can be obtained, the rate will be LIBOR for the prior Payment Date; provided however, if, under the priorities listed previously in this paragraph, LIBOR for a Payment Date would be based on LIBOR for the previous Payment Date for the third consecutive Payment Date, the Indenture Trustee after consultation with the Servicer shall select an alternative comparable index over which the Indenture Trustee has no control, used for determining one-month Eurodollar lending rates that is calculated and published or otherwise made available by an independent party. LIBOR business day means any day other than (a) a Saturday or a Sunday or (b) a day on which banking institutions in the city of London, England or New York, New York are required or authorized by law to be closed. The establishment of LIBOR by the Indenture Trustee and the Indenture Trustee's ’s subsequent calculation of the Note Interest Rate applicable to the Class A, Class M-2 1M-1, Class 2M and Class B-1 2B-1 Notes for the relevant Accrual Period, in the absence of manifest error, will be final and binding.

DETERMINATION OF THE LIBOR RATE. On each LIBOR Rate Adjustment Date, LIBOR shall be established by the Indenture Trustee and as to any Accrual Period, LIBOR will equal the rate for United States dollar deposits for one month which appears on the Dow Xxxxx Jones Telerate Screen Page 3750 as of 11:00 A M , London time, on that LIBOR thax XXXOR rate adjustment date. Dow Xxxxx Jones Telerate Screen Page 3750 means the display designated as page 3750 0000 on the Telerate Service or any other page as may replace page 3750 on that service for the purpose of displaying London interbank offered rates of major banks. If the rate does not appear on that page or any other page as may replace that page on that service, or if the service is no longer offered, any other service for displaying LIBOR or comparable rates as may be selected by the Indenture Trustee after consultation with the Servicer, the rate will be the reference bank rate. The Reference Bank Rate will be determined on the basis of the rates at which deposits in the U. S. U.S. Dollars are offered by the reference banks, which shall be three major banks that are engaged in transactions in the London interbank market, selected by the Indenture Trustee after consultation with the Servicer. The Reference Bank Rate will be determined as of 11:00 A M A.M., London time, on the LIBOR rate adjustment date Rate Adjustment Date on the basis of rates offered by the Reference Banks to prime banks in the London interbank market for a period of one month in amounts approximately equal to the aggregate Class Principal Balance of the Class A A-1, Class A-2, Class M and Class B Notes. The Indenture Trustee will request the principal London office of each of the reference banks Reference Banks to provide a quotation of its rate. If at least two quotations are provided, the rate will be the arithmetic mean of the quotations. If on that date fewer than two quotations are provided as requested, the rate will be the arithmetic mean of the rates quoted by one or more major banks in New York City, selected by the Indenture Trustee after consultation with the Servicer, as of 11:00 A M A.M., New York City time, on that date for loans in U S U.S. Dollars to leading European banks for a period of one month in amounts approximately equal to the note balance aggregate Class Principal Balance of the Class A A-1, Class A-2, Class M and Class B Notes. If no quotations can be obtained, the rate will be LIBOR for the prior Payment Date; provided however, if, under the priorities listed previously in this paragraph, LIBOR for a Payment Date would be based on LIBOR for the previous Payment Date for the third consecutive Payment Date, the Indenture Trustee after consultation with the Servicer shall select an alternative comparable index over which the Indenture Trustee has no control, used for determining one-month Eurodollar lending rates that is calculated and published or otherwise made available by an independent party. LIBOR business day means any day other than (a) a Saturday or a Sunday or (b) a day on which banking institutions in the city of London, England or New York, New York are required or authorized by law to be closed. The establishment of LIBOR by the Indenture Trustee and the Indenture Trustee's subsequent calculation of the Note Interest Rate applicable to the Class AA-1, Class M-2 A-2, Class M and Class B-1 B Notes for the relevant Accrual Period, in the absence of manifest error, will be final and binding.

DETERMINATION OF THE LIBOR RATE. On each LIBOR Rate Adjustment Date, LIBOR shall be established by the Indenture Trustee and as to any Accrual Period, LIBOR will equal the rate for United States dollar deposits for one month which appears on the Dow Xxxxx Jones Telerate Screen Page 3750 as of 11:00 A M , London time, on that LIBOR thax XXXOR rate adjustment date. Dow Xxxxx Jones Telerate Screen Page 3750 means the display designated as page 3750 0000 on the Telerate Service or any other page as may replace page 3750 on that service for the purpose of displaying London interbank offered rates of major banks. If the rate does not appear on that page or any other page as may replace that page on that service, or if the service is no longer offered, any other service for displaying LIBOR or comparable rates as may be selected by the Indenture Trustee after consultation with the Servicer, the rate will be the reference bank rate. The Reference Bank Rate will be determined on the basis of the rates at which deposits in the U. S. Dollars are offered by the reference banks, which shall be three major banks that are engaged in transactions in the London interbank market, selected by the Indenture Trustee after consultation with the Servicer. The Reference Bank Rate will be determined as of 11:00 A M , London time, on the LIBOR rate adjustment date to prime banks in the London interbank market for a period of one month in amounts approximately equal to the Class Principal Balance of the Class A Notes. The Indenture Trustee will request the principal London office of each of the reference banks to provide a quotation of its rate. If at least two quotations are provided, the rate will be the arithmetic mean of the quotations. If on that date fewer than two quotations are provided as requested, the rate will be the arithmetic mean of the rates quoted by one or more major banks in New York City, selected by the Indenture Trustee after consultation with the Servicer, as of 11:00 A M , New York City time, on that date for loans in U S Dollars to leading European banks for a period of one month in amounts approximately equal to the note balance of the Class A Notes. If no quotations can be obtained, the rate will be LIBOR for the prior Payment Date; provided however, if, under the priorities listed previously in this paragraph, LIBOR for a Payment Date would be based on LIBOR for the previous Payment Date for the third consecutive Payment Date, the Indenture Trustee after consultation with the Servicer shall select an alternative comparable index over which the Indenture Trustee has no control, used for determining one-month Eurodollar lending rates that is calculated and published or otherwise made available by an independent party. LIBOR business day means any day other than (a) a Saturday or a Sunday or (b) a day on which banking institutions in the city of London, England or New York, New York are required or authorized by law to be closed. The establishment of LIBOR by the Indenture Trustee and the Indenture Trustee's subsequent calculation of the Note Interest Rate applicable to the Class A, Class M-2 and Class B-1 Notes for the relevant Accrual Period, in the absence of manifest error, will be final and binding.

DETERMINATION OF THE LIBOR RATE. On each LIBOR Rate Adjustment Date, LIBOR shall be established by the Indenture Trustee and as to any Accrual Period, LIBOR will equal the rate for United States dollar deposits for one month which appears on the Dow Xxxxx Jones Telerate Screen Page 3750 as of 11:00 xx 00:00 A M , London time, on that LIBOR rate adjustment date. Dow Xxxxx Jones Telerate Screen Page 3750 means the meaxx xxe display designated as page 3750 on the Telerate Service or any other page as may replace page 3750 on that service for the purpose of displaying London interbank offered rates of major banks. If the rate does not appear on that page or any other page as may replace that page on that service, or if the service is no longer offered, any other service for displaying LIBOR or comparable rates as may be selected by the Indenture Trustee after consultation with the Servicer, the rate will be the reference bank rate. The Reference Bank Rate will be determined on the basis of the rates at which deposits in the U. S. Dollars are offered by the reference banks, which shall be three major banks that are engaged in transactions in the London interbank market, selected by the Indenture Trustee after consultation with the Servicer. The Reference Bank Rate will be determined as of 11:00 A M , London time, on the LIBOR rate adjustment date to prime banks in the London interbank market for a period of one month in amounts approximately equal to the Class Principal Balance of the Class A Notes. The Indenture Trustee will request the principal London office of each of the reference banks to provide a quotation of its rate. If at least two quotations are provided, the rate will be the arithmetic mean of the quotations. If on that date fewer than two quotations are provided as requested, the rate will be the arithmetic mean of the rates quoted by one or more major banks in New York City, selected by the Indenture Trustee after consultation with the Servicer, as of 11:00 A M , New York City time, on that date for loans in U S Dollars to leading European banks for a period of one month in amounts approximately equal to the note balance of the Class A Notes. If no quotations can be obtained, the rate will be LIBOR for the prior Payment Date; provided however, if, under the priorities listed previously in this paragraph, LIBOR for a Payment Date would be based on LIBOR for the previous Payment Date for the third consecutive Payment Date, the Indenture Trustee after consultation with the Servicer shall select an alternative comparable index over which the Indenture Trustee has no control, used for determining one-month Eurodollar lending rates that is calculated and published or otherwise made available by an independent party. LIBOR business day means any day other than (a) a Saturday or a Sunday or (b) a day on which banking institutions in the city of London, England or New York, New York are required or authorized by law to be closed. The establishment of LIBOR by the Indenture Trustee and the Indenture Trustee's subsequent calculation of the Note Interest Rate applicable to the Class A, Class M-2 and Class B-1 Notes for the relevant Accrual Period, in the absence of manifest error, will be final and binding.

DETERMINATION OF THE LIBOR RATE. On each LIBOR Rate Adjustment Date, LIBOR shall be established by the Indenture Trustee and as to any Accrual Period, LIBOR will equal the rate for United States dollar deposits for one month which appears on the Dow Xxxxx Jxxxx Telerate Screen Page 3750 as of 11:00 A M , London time, on that LIBOR rate adjustment date. Dow Xxxxx Jxxxx Telerate Screen Page 3750 means the display designated as page 3750 on the Telerate Service or any other page as may replace page 3750 on that service for the purpose of displaying London interbank offered rates of major banks. If the rate does not appear on that page or any other page as may replace that page on that service, or if the service is no longer offered, any other service for displaying LIBOR or comparable rates as may be selected by the Indenture Trustee after consultation with the Servicer, the rate will be the reference bank rate. The Reference Bank Rate will be determined on the basis of the rates at which deposits in the U. S. Dollars are offered by the reference banks, which shall be three major banks that are engaged in transactions in the London interbank market, selected by the Indenture Trustee after consultation with the Servicer. The Reference Bank Rate will be determined as of 11:00 A M , London time, on the LIBOR rate adjustment date to prime banks in the London interbank market for a period of one month in amounts approximately equal to the Class Principal Balance of the Class A Notes. The Indenture Trustee will request the principal London office of each of the reference banks to provide a quotation of its rate. If at least two quotations are provided, the rate will be the arithmetic mean of the quotations. If on that date fewer than two quotations are provided as requested, the rate will be the arithmetic mean of the rates quoted by one or more major banks in New York City, selected by the Indenture Trustee after consultation with the Servicer, as of 11:00 A M , New York City time, on that date for loans in U S Dollars to leading European banks for a period of one month in amounts approximately equal to the note balance of the Class A Notes. If no quotations can be obtained, the rate will be LIBOR for the prior Payment Date; provided however, if, under the priorities listed previously in this paragraph, LIBOR for a Payment Date would be based on LIBOR for the previous Payment Date for the third consecutive Payment Date, the Indenture Trustee after consultation with the Servicer shall select an alternative comparable index over which the Indenture Trustee has no control, used for determining one-month Eurodollar lending rates that is calculated and published or otherwise made available by an independent party. LIBOR business day means any day other than (a) a Saturday or a Sunday or (b) a day on which banking institutions in the city of London, England or New York, New York are required or authorized by law to be closed. The establishment of LIBOR by the Indenture Trustee and the Indenture Trustee's subsequent calculation of the Note Interest Rate applicable to the Class A, Class M-2 and Class B-1 Notes for the relevant Accrual Period, in the absence of manifest error, will be final and binding.

DETERMINATION OF THE LIBOR RATE. On each LIBOR Rate Adjustment Date, LIBOR shall be established by the Indenture Trustee and as Trustee. As to any Interest Accrual Period, LIBOR will equal "LIBOR" shall be the rate for United States dollar deposits for one month which appears on the Dow Xxxxx Jones Telerate Screen Page 3750 as of 11:00 A M a.m., London time, on that LIBOR thxx XXBOR rate adjustment date. Dow Xxxxx Jones Telerate Screen Page 3750 means the display designated as page 3750 0000 on the Telerate Service or any other page as may replace page 3750 on that service for the purpose of displaying London interbank offered rates of major banks. If the rate does not appear on that page or any other page as may replace that page on that service, or if the service is no longer offered, any other service for displaying LIBOR or comparable rates as may be selected by the Indenture Trustee after consultation with the Servicer, the rate will be the reference bank rateReference Bank Rate. The Reference Bank Rate will "REFERENCE BANK RATE" shall be determined on the basis of the rates at which deposits in the U. S. U.S. Dollars are offered by the reference banks, which shall be three major banks that are engaged in transactions in the London interbank market, selected by the Indenture Trustee after consultation with the Servicer. The Reference Bank Rate will be determined as of 11:00 A M a.m., London time, on the LIBOR rate adjustment date to prime banks in the London interbank market for a period of one month in amounts approximately equal to the Class Principal Balance of the Class A Notes. The Indenture Trustee will request the principal London office of each of the reference banks to provide a quotation of its rate. If at least two quotations are provided, the rate will be the arithmetic mean of the quotations. If on that date fewer than two quotations are provided as requested, the rate will be the arithmetic mean of the rates quoted by one or more major banks in New York City, selected by the Indenture Trustee after consultation with the Servicer, as of 11:00 A M a.m., New York City time, on that date for loans in U S U.S. Dollars to leading European banks for a period of one month in amounts approximately equal to the note balance Note Balance of the Class A Notes. If no quotations can be obtained, the rate will be LIBOR for the prior Payment Date; provided however, if, under the priorities listed previously in this paragraph, LIBOR for a Payment Date would be based on LIBOR for the previous Payment Date for the third consecutive Payment Date, the Indenture Trustee after consultation with the Servicer shall select an alternative comparable index over which the Indenture Trustee has no control, used for determining one-month Eurodollar lending rates that is calculated and published or otherwise made available by an independent party. LIBOR business day means any day other than (a) a Saturday or a Sunday or (b) a day on which banking institutions in the city of London, England or New York, New York are required or authorized by law to be closed. The establishment of LIBOR by the Indenture Trustee and the Indenture Trustee's subsequent calculation of the Note Interest Rate applicable to the Class A, Class M-2 and Class B-1 A Notes for the relevant Interest Accrual Period, in the absence of manifest error, will be final and binding.

DETERMINATION OF THE LIBOR RATE. On each LIBOR Rate Adjustment Date, LIBOR shall be established by the Indenture Trustee and as to any Accrual Period, LIBOR will equal the rate for United States dollar deposits for one month which appears on the Dow Xxxxx Telerate Screen Page 3750 as of 11:00 A M A.M., London time, on that LIBOR rate adjustment date. Dow Xxxxx Telerate Screen Page 3750 means the display designated as page 3750 on the Telerate Service or any other page as may replace page 3750 on that service for the purpose of displaying London interbank offered rates of major banks. If the rate does not appear on that page or any other page as may replace that page on that service, or if the service is no longer offered, any other service for displaying LIBOR or comparable rates as may be selected by the Indenture Trustee after consultation with the ServicerSeller, the rate will be the reference bank rate. The Reference Bank Rate will be determined on the basis of the rates at which deposits in the U. S. U.S. Dollars are offered by the reference banks, which shall be three major banks that are engaged in transactions in the London interbank market, selected by the Indenture Trustee after consultation with the ServicerSeller. The Reference Bank Rate will be determined as of 11:00 A M A.M., London time, on the LIBOR rate adjustment date Rate Adjustment Date on the basis of rates offered by the Reference Banks to prime banks in the London interbank market for a period of one month in amounts approximately equal to the aggregate Class Principal Balance of the Class A Notes1A-3, Class 2A-1, Class M and Class B Notes and Class G Certificates. The Indenture Trustee will request the principal London office of each of the reference banks Reference Banks to provide a quotation of its rate. If at least two quotations are provided, the rate will be the arithmetic mean of the quotations. If on that date fewer than two quotations are provided as requested, the rate will be the arithmetic mean of the rates quoted by one or more major banks in New York City, selected by the Indenture Trustee after consultation with the ServicerSeller, as of 11:00 A M A.M., New York City time, on that date for loans in U S U.S. Dollars to leading European banks for a period of one month in amounts approximately equal to the note balance aggregate Class Principal Balance of the Class A Notes1A-3, Class 2A-1, Class M and Class B Notes and Class G Certificates. If no quotations can be obtained, the rate will be LIBOR for the prior Payment Date; provided however, if, under the priorities listed previously in this paragraph, LIBOR for a Payment Date would be based on LIBOR for the previous Payment Date for the third consecutive Payment Date, the Indenture Trustee after consultation with the Servicer Seller shall select an alternative comparable index over which the Indenture Trustee has no control, used for determining one-month Eurodollar lending rates that is calculated and published or otherwise made available by an independent party. LIBOR business day means any day other than (a) a Saturday or a Sunday or (b) a day on which banking institutions in the city of London, England or New York, New York are required or authorized by law to be closed. The establishment of LIBOR by the Indenture Trustee and the Indenture Trustee's ’s subsequent calculation of the Note Interest Rate applicable to the Class A, Class M-2 M and Class B-1 B Notes and Class G Certificates for the relevant Accrual Period, in the absence of manifest error, will be final and binding.

DETERMINATION OF THE LIBOR RATE. On each LIBOR Rate Adjustment Date, LIBOR shall be established by the Indenture Trustee and as to any Accrual Period, LIBOR will equal the rate for United States dollar deposits for one month which appears on the Dow Xxxxx Telerate Screen Page 3750 as of 11:00 A M , London time, on that LIBOR rate adjustment date. Dow Xxxxx Telerate Screen Page 3750 means the display designated as page 3750 on the Telerate Service or any other page as may replace page 3750 on that service for the purpose of displaying London interbank offered rates of major banks. If the rate does not appear on that page or any other page as may replace that page on that service, or if the service is no longer offered, any other service for displaying LIBOR or comparable rates as may be selected by the Indenture Trustee after consultation with the Servicer, the rate will be the reference bank rate. The Reference Bank Rate will be determined on the basis of the rates at which deposits in the U. S. U.S. Dollars are offered by the reference banks, which shall be three major banks that are engaged in transactions in the London interbank market, selected by the Indenture Trustee after consultation with the Servicer. The Reference Bank Rate will be determined as of 11:00 A M A.M., London time, on the LIBOR rate adjustment date Rate Adjustment Date on the basis of rates offered by the Reference Banks to prime banks in the London interbank market for a period of one month in amounts approximately equal to the aggregate Class Principal Balance of the Class A A-1, Class A-2, Class M and Class B Notes. The Indenture Trustee will request the principal London office of each of the reference banks Reference Banks to provide a quotation of its rate. If at least two quotations are provided, the rate will be the arithmetic mean of the quotations. If on that date fewer than two quotations are provided as requested, the rate will be the arithmetic mean of the rates quoted by one or more major banks in New York City, selected by the Indenture Trustee after consultation with the Servicer, as of 11:00 A M A.M., New York City time, on that date for loans in U S U.S. Dollars to leading European banks for a period of one month in amounts approximately equal to the note balance aggregate Class Principal Balance of the Class A A-1, Class A-2, Class M and Class B Notes. If no quotations can be obtained, the rate will be LIBOR for the prior Payment Date; provided however, if, under the priorities listed previously in this paragraph, LIBOR for a Payment Date would be based on LIBOR for the previous Payment Date for the third consecutive Payment Date, the Indenture Trustee after consultation with the Servicer shall select an alternative comparable index over which the Indenture Trustee has no control, used for determining one-month Eurodollar lending rates that is calculated and published or otherwise made available by an independent party. LIBOR business day means any day other than (a) a Saturday or a Sunday or (b) a day on which banking institutions in the city of London, England or New York, New York are required or authorized by law to be closed. The establishment of LIBOR by the Indenture Trustee and the Indenture Trustee's ’s subsequent calculation of the Note Interest Rate applicable to the Class AA-1, Class M-2 A-2, Class M and Class B-1 B Notes for the relevant Accrual Period, in the absence of manifest error, will be final and binding.

DETERMINATION OF THE LIBOR RATE. On each LIBOR Rate Adjustment Date, LIBOR shall be established by the Indenture Trustee and as to any Accrual Period, LIBOR will equal the rate for United States dollar deposits for one month which appears on the Dow Xxxxx Jones Telerate Screen Page 3750 as of 11:00 A M , London time, on that LIBOR XXXXR rate adjustment date. Dow Xxxxx Jones Telerate Screen Page 3750 means the display designated as page 3750 on 3000 xn the Telerate Service or any other page as may replace page 3750 on that service for the purpose of displaying London interbank offered rates of major banks. If the rate does not appear on that page or any other page as may replace that page on that service, or if the service is no longer offered, any other service for displaying LIBOR or comparable rates as may be selected by the Indenture Trustee after consultation with the Servicer, the rate will be the reference bank rate. The Reference Bank Rate will be determined on the basis of the rates at which deposits in the U. S. Dollars are offered by the reference banks, which shall be three major banks that are engaged in transactions in the London interbank market, selected by the Indenture Trustee after consultation with the Servicer. The Reference Bank Rate will be determined as of 11:00 A M , London time, on the LIBOR rate adjustment date to prime banks in the London interbank market for a period of one month in amounts approximately equal to the Class Principal Balance of the Class A Notes. The Indenture Trustee will request the principal London office of each of the reference banks to provide a quotation of its rate. If at least two quotations are provided, the rate will be the arithmetic mean of the quotations. If on that date fewer than two quotations are provided as requested, the rate will be the arithmetic mean of the rates quoted by one or more major banks in New York City, selected by the Indenture Trustee after consultation with the Servicer, as of 11:00 A M , New York City time, on that date for loans in U S Dollars to leading European banks for a period of one month in amounts approximately equal to the note balance of the Class A Notes. If no quotations can be obtained, the rate will be LIBOR for the prior Payment Date; provided however, if, under the priorities listed previously in this paragraph, LIBOR for a Payment Date would be based on LIBOR for the previous Payment Date for the third consecutive Payment Date, the Indenture Trustee after consultation with the Servicer shall select an alternative comparable index over which the Indenture Trustee has no control, used for determining one-month Eurodollar lending rates that is calculated and published or otherwise made available by an independent party. LIBOR business day means any day other than (a) a Saturday or a Sunday or (b) a day on which banking institutions in the city of London, England or New York, New York are required or authorized by law to be closed. The establishment of LIBOR by the Indenture Trustee and the Indenture Trustee's subsequent calculation of the Note Interest Rate applicable to the Class A, Class M-2 and Class B-1 Notes for the relevant Accrual Period, in the absence of manifest error, will be final and binding.

DETERMINATION OF THE LIBOR RATE. On each LIBOR Rate Adjustment Date, LIBOR shall be established by the Indenture Trustee and as to any Accrual Period, LIBOR will equal the rate for United States dollar deposits for one month which appears on the Dow Xxxxx Telerate Reuters Screen Page 3750 LIBOR01 as of 11:00 A M A.M., London time, on that LIBOR rate adjustment dateRate Adjustment Date. Dow Xxxxx Telerate Reuters Screen LIBOR01 Page 3750 means the display designated as page 3750 on the Telerate Reuters Monitor Money Rates Service or any other page as may replace that page 3750 on that service for the purpose of displaying London interbank offered comparable rates of major banksor prices. If the rate does not appear on that page or any other page as may replace that page on that service, or if the service is no longer offered, any other service for displaying LIBOR or comparable rates as may be selected by the Indenture Trustee after consultation with the ServicerSeller and the Insurer, the rate will be the reference bank rateReference Bank Rate. The Reference Bank Rate will be determined on the basis of the rates at which deposits in the U. S. U.S. Dollars are offered by the reference banks, which shall be three major banks that are engaged in transactions in the London interbank market, selected by the Indenture Trustee after consultation with the ServicerSeller. The Reference Bank Rate will be determined as of 11:00 A M A.M., London time, on the LIBOR rate adjustment date Rate Adjustment Date on the basis of rates offered by the Reference Banks to prime banks in the London interbank market for a period of one month in amounts approximately equal to the aggregate Class Principal Balance of the Class A NotesA-1 Notes and Class G Certificates. The Indenture Trustee will request the principal London office of each of the reference banks Reference Banks to provide a quotation of its rate. If at least two quotations are provided, the rate will be the arithmetic mean of the quotations. If on that date fewer than two quotations are provided as requested, the rate will be the arithmetic mean of the rates quoted by one or more major banks in New York City, selected by the Indenture Trustee after consultation with the ServicerSeller and the Insurer, as of 11:00 A M A.M., New York City time, on that date for loans in U S U.S. Dollars to leading European banks for a period of one month in amounts approximately equal to the note balance aggregate Class Principal Balance of the Class A NotesA-1 Notes and Class G Certificates. If no quotations can be obtained, the rate will be LIBOR for the prior Payment Date; provided however, if, under the priorities listed previously in this paragraph, LIBOR for a Payment Date would be based on LIBOR for the previous Payment Date for the third consecutive Payment Date, the Indenture Trustee after consultation with the Servicer Seller and the Insurer shall select an alternative comparable index over which the Indenture Trustee has no control, used for determining one-month Eurodollar lending rates that is calculated and published or otherwise made available by an independent party. LIBOR business day means any day other than (a) a Saturday or a Sunday or (b) a day on which banking institutions in the city of London, England or New York, New York are required or authorized by law to be closed. The establishment of LIBOR by the Indenture Trustee and the Indenture Trustee's ’s subsequent calculation of the Note Interest Rate applicable to the Class A, Class M-2 A-1 Notes and Class B-1 Notes G Certificates for the relevant Accrual Period, in the absence of manifest error, will be final and binding.

DETERMINATION OF THE LIBOR RATE. On each LIBOR Rate Adjustment Date, LIBOR shall be established by the Indenture Trustee and as to any Accrual Period, LIBOR will equal the rate for United States dollar deposits for one month which appears on the Dow Xxxxx Jxxxx Telerate Screen Page 3750 as of 11:00 A M , London time, on that LIBOR rate adjustment date. Dow Xxxxx Jxxxx Telerate Screen Page 3750 means the display designated as page 3750 on the Telerate Service or any other page as may replace page 3750 on that service for the purpose of displaying London interbank offered rates of major banks. If the rate does not appear on that page or any other page as may replace that page on that service, or if the service is no longer offered, any other service for displaying LIBOR or comparable rates as may be selected by the Indenture Trustee after consultation with the Servicer, the rate will be the reference bank rate. The Reference Bank Rate will be determined on the basis of the rates at which deposits in the U. S. Dollars are offered by the reference banks, which shall be three major banks that are engaged in transactions in the London interbank market, selected by the Indenture Trustee after consultation with the Servicer. The Reference Bank Rate will be determined as of 11:00 A M , London time, on the LIBOR rate adjustment date to prime banks in the London interbank market for a period of one month in amounts approximately equal to the Class Principal Balance of the Class A Notes. The Indenture Trustee will request the principal London office of each of the reference banks to provide a quotation of its rate. If at least two quotations are provided, the rate will be the arithmetic mean of the quotations. If on that date fewer than two quotations are provided as requested, the rate will be the arithmetic mean of the rates quoted by one or more major banks in New York City, selected by the Indenture Trustee after consultation with the Servicer, as of 11:00 A M , New York City time, on that date for loans in U S Dollars to leading European banks for a period of one month in amounts approximately equal to the note balance of the Class A Notes. If no quotations can be obtained, the rate will be LIBOR for the prior Payment Date; provided however, if, under the priorities listed previously in this paragraph, LIBOR for a Payment Date would be based on LIBOR for the previous Payment Date for the third consecutive Payment Date, the Indenture Trustee after consultation with the Servicer shall select an alternative comparable index over which the Indenture Trustee has no control, used for determining one-month Eurodollar lending rates that is calculated and published or otherwise made available by an independent party. LIBOR business day means any day other than (a) a Saturday or a Sunday or (b) a day on which banking institutions in the city of London, England or New York, New York are required or authorized by law to be closed. The establishment of LIBOR by the Indenture Trustee and the Indenture Trustee's ’s subsequent calculation of the Note Interest Rate applicable to the Class A, Class M-2 and Class B-1 Notes for the relevant Accrual Period, in the absence of manifest error, will be final and binding.