Interest Accrual. The 2017-A Exchange Note will accrue interest on its Exchange Note Balance for each Exchange Note Interest Period until the Exchange Note Balance has been paid in full at a rate per annum equal to the Exchange Note Interest Rate for that Exchange Note Interest Period. Interest on the 2017-A Exchange Note will be calculated for each Exchange Note Interest Period on the basis of the actual number of days elapsed and a 360-day year. Interest on the 2017-A Exchange Note for each Exchange Note Interest Period will be due and payable on the related Payment Date.
Appears in 2 contracts
Samples: Exchange Note Supplement (Ford Credit Auto Lease Trust 2017-A), Credit and Security Agreement (Ford Credit Auto Lease Two LLC)
Interest Accrual. The 20172024-A Exchange Note will accrue interest on its Exchange Note Balance for each Exchange Note Interest Period until the Exchange Note Balance has been paid in full at a rate per annum equal to the Exchange Note Interest Rate for that Exchange Note Interest Period. Interest on the 20172024-A Exchange Note will be calculated for each Exchange Note Interest Period on the basis of the actual number of days elapsed and a 360-day year. Interest on the 20172024-A Exchange Note for each Exchange Note Interest Period will be due and payable on the related Payment Date.
Appears in 2 contracts
Samples: Exchange Note Supplement (Ford Credit Auto Lease Trust 2024-A), Credit and Security Agreement (Ford Credit Auto Lease Trust 2024-A)
Interest Accrual. The 20172019-A Exchange Note will accrue interest on its Exchange Note Balance for each Exchange Note Interest Period until the Exchange Note Balance has been paid in full at a rate per annum equal to the Exchange Note Interest Rate for that Exchange Note Interest Period. Interest on the 20172019-A Exchange Note will be calculated for each Exchange Note Interest Period on the basis of the actual number of days elapsed and a 360-day year. Interest on the 20172019-A Exchange Note for each Exchange Note Interest Period will be due and payable on the related Payment Date.
Appears in 2 contracts
Samples: Exchange Note Supplement (Ford Credit Auto Lease Trust 2019-A), Exchange Note Supplement (Ford Credit Auto Lease Trust 2019-A)
Interest Accrual. The 20172023-A Exchange Note will accrue interest on its Exchange Note Balance for each Exchange Note Interest Period until the Exchange Note Balance has been paid in full at a rate per annum equal to the Exchange Note Interest Rate for that Exchange Note Interest Period. Interest on the 20172023-A Exchange Note will be calculated for each Exchange Note Interest Period on the basis of the actual number of days elapsed and a 360-day year. Interest on the 20172023-A Exchange Note for each Exchange Note Interest Period will be due and payable on the related Payment Date.
Appears in 2 contracts
Samples: Exchange Note Supplement (Ford Credit Auto Lease Trust 2023-A), Credit and Security Agreement (Ford Credit Auto Lease Trust 2023-A)
Interest Accrual. The 20172021-A Exchange Note will accrue interest on its Exchange Note Balance for each Exchange Note Interest Period until the Exchange Note Balance has been paid in full at a rate per annum equal to the Exchange Note Interest Rate for that Exchange Note Interest Period. Interest on the 20172021-A Exchange Note will be calculated for each Exchange Note Interest Period on the basis of the actual number of days elapsed and a 360-day year. Interest on the 20172021-A Exchange Note for each Exchange Note Interest Period will be due and payable on the related Payment Date.
Appears in 2 contracts
Samples: Exchange Note Supplement (Ford Credit Auto Lease Trust 2021-A), Credit and Security Agreement (Ford Credit Auto Lease Trust 2021-A)
Interest Accrual. The 20172018-A Exchange Note will accrue interest on its Exchange Note Balance for each Exchange Note Interest Period until the Exchange Note Balance has been paid in full at a rate per annum equal to the Exchange Note Interest Rate for that Exchange Note Interest Period. Interest on the 20172018-A Exchange Note will be calculated for each Exchange Note Interest Period on the basis of the actual number of days elapsed and a 360-day year. Interest on the 20172018-A Exchange Note for each Exchange Note Interest Period will be due and payable on the related Payment Date.
Appears in 2 contracts
Samples: Exchange Note Supplement (Ford Credit Auto Lease Trust 2018-A), Credit and Security Agreement (Ford Credit Auto Lease Trust 2018-A)
Interest Accrual. The 2017-A B Exchange Note will accrue interest on its Exchange Note Balance for each Exchange Note Interest Period until the Exchange Note Balance has been paid in full at a rate per annum equal to the Exchange Note Interest Rate for that Exchange Note Interest Period. Interest on the 2017-A B Exchange Note will be calculated for each Exchange Note Interest Period on the basis of the actual number of days elapsed and a 360-day year. Interest on the 2017-A B Exchange Note for each Exchange Note Interest Period will be due and payable on the related Payment Date.
Appears in 2 contracts
Samples: Credit and Security Agreement (Ford Credit Auto Lease Trust 2017-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2017-B)
Interest Accrual. The 20172023-A B Exchange Note will accrue interest on its Exchange Note Balance for each Exchange Note Interest Period until the Exchange Note Balance has been paid in full at a rate per annum equal to the Exchange Note Interest Rate for that Exchange Note Interest Period. Interest on the 20172023-A B Exchange Note will be calculated for each Exchange Note Interest Period on the basis of the actual number of days elapsed and a 360-day year. Interest on the 20172023-A B Exchange Note for each Exchange Note Interest Period will be due and payable on the related Payment Date.
Appears in 2 contracts
Samples: Credit and Security Agreement (Ford Credit Auto Lease Trust 2023-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2023-B)
Interest Accrual. The 20172020-A Exchange Note will accrue interest on its Exchange Note Balance for each Exchange Note Interest Period until the Exchange Note Balance has been paid in full at a rate per annum equal to the Exchange Note Interest Rate for that Exchange Note Interest Period. Interest on the 20172020-A Exchange Note will be calculated for each Exchange Note Interest Period on the basis of the actual number of days elapsed and a 360-day year. Interest on the 20172020-A Exchange Note for each Exchange Note Interest Period will be due and payable on the related Payment Date.
Appears in 2 contracts
Samples: Credit and Security Agreement (Ford Credit Auto Lease Trust 2020-A), Credit and Security Agreement (Ford Credit Auto Lease Trust 2020-A)
Interest Accrual. The 20172019-A B Exchange Note will accrue interest on its Exchange Note Balance for each Exchange Note Interest Period until the Exchange Note Balance has been paid in full at a rate per annum equal to the Exchange Note Interest Rate for that Exchange Note Interest Period. Interest on the 20172019-A B Exchange Note will be calculated for each Exchange Note Interest Period on the basis of the actual number of days elapsed and a 360-day year. Interest on the 20172019-A B Exchange Note for each Exchange Note Interest Period will be due and payable on the related Payment Date.
Appears in 2 contracts
Samples: Credit and Security Agreement (Ford Credit Auto Lease Trust 2019-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2019-B)
Interest Accrual. The 20172022-A Exchange Note will accrue interest on its Exchange Note Balance for each Exchange Note Interest Period until the Exchange Note Balance has been paid in full at a rate per annum equal to the Exchange Note Interest Rate for that Exchange Note Interest Period. Interest on the 20172022-A Exchange Note will be calculated for each Exchange Note Interest Period on the basis of the actual number of days elapsed and a 360-day year. Interest on the 20172022-A Exchange Note for each Exchange Note Interest Period will be due and payable on the related Payment Date.
Appears in 2 contracts
Samples: Exchange Note Supplement (Ford Credit Auto Lease Trust 2022-A), Exchange Note Supplement (Ford Credit Auto Lease Trust 2022-A)
Interest Accrual. The 20172021-A B Exchange Note will accrue interest on its Exchange Note Balance for each Exchange Note Interest Period until the Exchange Note Balance has been paid in full at a rate per annum equal to the Exchange Note Interest Rate for that Exchange Note Interest Period. Interest on the 20172021-A B Exchange Note will be calculated for each Exchange Note Interest Period on the basis of the actual number of days elapsed and a 360-day year. Interest on the 20172021-A B Exchange Note for each Exchange Note Interest Period will be due and payable on the related Payment Date.
Appears in 2 contracts
Samples: Credit and Security Agreement (Ford Credit Auto Lease Trust 2021-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2021-B)
Interest Accrual. The 20172020-A B Exchange Note will accrue interest on its Exchange Note Balance for each Exchange Note Interest Period until the Exchange Note Balance has been paid in full at a rate per annum equal to the Exchange Note Interest Rate for that Exchange Note Interest Period. Interest on the 20172020-A B Exchange Note will be calculated for each Exchange Note Interest Period on the basis of the actual number of days elapsed and a 360-day year. Interest on the 20172020-A B Exchange Note for each Exchange Note Interest Period will be due and payable on the related Payment Date.
Appears in 2 contracts
Samples: Credit and Security Agreement (Ford Credit Auto Lease Trust 2020-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2020-B)