Common use of Earned Discount Clause in Contracts

Earned Discount. The "Earned Discount" for any Undivided Interest for each day in a related Yield Period means an amount determined as follows: ED = PI x DR x 1/360 (or 1/365 (366) in the case of any Undivided Interest denominated in British Pounds Sterling); where: ED = Earned Discount of such Undivided Interest at the time of computation; PI = the Purchasers' Investments of such Undivided Interest on such day, as determined pursuant to Section 2.03; and DR = the Discount Rate for such Undivided Interest on such day during such Yield Period, as determined pursuant to Section 2.07. Notwithstanding any other provision of this Agreement to the contrary, Earned Discount shall be a recourse obligation of the Seller. No provision of this Agreement shall require the payment or permit the collection of Earned Discount in excess of the maximum permitted by applicable law. Earned Discount for any Undivided Interest shall not be considered paid by any distribution if at any time such distribution is rescinded or must otherwise be returned for any reason. Earned Discount shall be calculated and paid in the Approved Currency of the related Undivided Interest.

Earned Discount. The "Earned Discount" for any Undivided Interest for each day in a related Yield Period means an amount determined as follows: ED = PI x DR x 1/360 (or 1/365 (366) in the case of any Undivided Interest denominated in British Pounds Sterling); where: ED = Earned Discount of such Undivided Interest at the time of computation; PI = the Purchasers' Investments of such Undivided Interest on such day, as determined pursuant to Section 2.03; and DR = the Discount Rate for such Undivided Interest on such day during such Yield Period, as determined pursuant to Section 2.07. Notwithstanding any other provision of this Agreement to the contrary, Earned Discount shall be a joint and several recourse obligation of the SellerSellers. No provision of this Agreement or the Certificate shall require the payment or permit the collection of Earned Discount in excess of the maximum permitted by applicable law. Earned Discount for any Undivided Interest shall not be considered paid by any distribution if at any time such distribution is rescinded or must otherwise be returned for any reason. Earned Discount shall be calculated and paid in the Approved Currency of the related Undivided Interest.

Earned Discount. The "Earned Discount" for any Undivided Interest for each day in a related Yield Period means an amount determined as follows: ED = PI x DR PR x 1/360 + NSF (or 1/365 (366) if any); provided, however, that if, pursuant to the definition of "Purchaser Rate" in Part I.E., different Purchaser Rates would apply to different portions of an Undivided Interest, then Earned Discount shall be calculated separately with respect to each such portion, and the case Earned Discount shall be the sum of any Undivided Interest denominated in British Pounds Sterling)the Earned Discount so calculated for such portions; where: ED = Earned Discount of such Undivided Interest at the time of computation(or such portion) accrued on such day; PI = the Purchasers' Investments Purchaser's Investment of such Undivided Interest (or such portion) on such day, as determined pursuant to Section 2.03; and DR PR = the Discount Purchaser Rate for such Undivided Interest (or such portion) on such day during such Yield Periodday, as determined pursuant to Section 2.07. Notwithstanding any other provision of this Agreement to defined in Part I.E. NSF = the contraryNegative Spread Fee for such Undivided Interest (or such portion thereof) on such day, Earned Discount shall be a recourse obligation of the Seller. as defined in Part C. No provision of this the Agreement shall require the payment or permit the collection of Earned Discount in excess of the maximum permitted by applicable law. Earned Discount for any Undivided Interest shall not be considered paid by any distribution if at any time such distribution is rescinded or must otherwise be returned for any reason. Earned Discount shall be calculated and paid in the Approved Currency of the related Undivided Interest.

Earned Discount. The "Earned Discount" for any Undivided Interest for each day in a related Yield Period means an amount determined as follows: ED = =PI x DR PR x 1/360 + NSF (or 1/365 (366) if any); provided, however, that if, pursuant to the definition of "Purchaser Rate" in Part I.E., different Purchaser Rates would apply to different portions of an Undivided Interest, then Earned Discount shall be calculated separately with respect to each such portion, and the case Earned Discount shall be the sum of any Undivided Interest denominated in British Pounds Sterling)the Earned Discount so calculated for such portions; where: ED = Earned Discount of such Undivided Interest at the time of computation(or such portion) accrued on such day; PI = the Purchasers' Investments Purchaser's Investment of such Undivided Interest (or such portion) on such day, as determined pursuant to Section 2.03; and DR PR = the Discount Purchaser Rate for such Undivided Interest (or such portion) on such day during such Yield Periodday, as determined pursuant to Section 2.07. Notwithstanding any other provision of this Agreement to defined in Part I.E. NSF =the contraryNegative Spread Fee for such Undivided Interest (or such portion thereof) on such day, Earned Discount shall be a recourse obligation of the Seller. as defined in Part C. No provision of this the Agreement shall require the payment or permit the collection of Earned Discount in excess of the maximum permitted by applicable law. Earned Discount for any Undivided Interest shall not be considered paid by any distribution if at any time such distribution is rescinded or must otherwise be returned for any reason. Earned Discount shall be calculated and paid in the Approved Currency of the related Undivided Interest.