Common use of General Funding Provisions Clause in Contracts

General Funding Provisions. Subject to Section 3.5 hereof, (a) each Purchaser Interest of the Committed Purchasers in a CP Funding Purchaser Group shall accrue Yield for each day during its Tranche Period at either the LIBO Rate or the Base Rate, (b) each Purchaser Interest of the Committed Purchasers in a Bank Funding Purchaser Group shall accrue Yield for each day during its Tranche Period at the LIBO Rate and (c) each Purchaser Interest directly or indirectly funded substantially with Pooled Commercial Paper shall accrue Yield for each day that any Capital in respect of such Purchaser Interest is outstanding at the CP Rate, in each case, in accordance with the terms and conditions hereof. Until Seller gives notice to the Managing Agents of another Discount Rate in accordance with Section 3.4, the initial Discount Rate for any Purchaser Interest transferred to the Committed Purchasers in a CP Funding Purchaser Group pursuant to the terms and conditions hereof shall be the Base Rate. If any Committed Purchaser in a CP Funding Purchaser Group acquires by assignment from any Conduit Purchaser any Purchaser Interest pursuant to such Conduit Purchaser’s respective Liquidity Agreement, each Purchaser Interest so assigned shall each be deemed to have a new Tranche Period commencing on the date of any such assignment.

General Funding Provisions. Subject to Section 3.5 hereof, (a) each Each Purchaser Interest of the Committed Purchasers in a CP Funding Purchaser Group shall accrue Yield for each day during its Tranche Period at either the LIBO Rate or the Base RateRate in accordance with the terms and conditions hereof, (b) and each Purchaser Interest of the Committed Conduit Purchasers in a Bank Funding Purchaser Group shall accrue Yield for each day during its Tranche Period at the LIBO CP Rate in accordance with the terms and (c) conditions hereof; provided, however, that each Purchaser Interest directly or indirectly of a Conduit Purchaser which is funded substantially with through Pooled Commercial Paper shall accrue Yield at the applicable CP Rate for each day during each Accrual Period that any Capital in respect of such Purchaser Interest is outstanding at the CP Rate, in each case, in accordance with the terms and conditions hereofoutstanding. Until Seller gives notice to the Managing Agents of another Discount Rate in accordance with Section 3.4, the initial Discount Rate for any Purchaser Interest transferred to the Committed Purchasers in a CP Funding Purchaser Group pursuant to the terms and conditions hereof shall be the Base Rate. If any Committed Purchaser in a CP Funding Purchaser Group acquires by assignment from any Conduit Purchaser any Purchaser Interest pursuant to such Conduit Purchaser’s respective Liquidity Agreement, each Purchaser Interest so assigned shall each be deemed to have a new Tranche Period commencing on the date of any such assignment.