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Common use of Interest Accrual Clause in Contracts

Interest Accrual. Each Class of Series 2019-2 Notes will accrue interest on its Note Balance for each Interest Period until the Note Balance has been paid in full at a rate per annum equal to its Note Interest Rate for that Interest Period. Interest on the Notes will be calculated for each Interest Period on the basis of a 360-day year consisting of twelve 30-day months. Interest on each Note for each Interest Period will be due and payable on the related Payment Date.

Appears in 2 contracts

Samples: Indenture Supplement (Ford Credit Floorplan LLC), Indenture Supplement (Ford Credit Floorplan LLC)

Interest Accrual. Each Class of Series 2019-2 1 Notes will accrue interest on its Note Balance for each Interest Period until the Note Balance has been paid in full at a rate per annum equal to its Note Interest Rate for that Interest Period. Interest on the Notes will be calculated for each Interest Period on the basis of a 360-day year consisting of twelve 30-day months. Interest on each Note for each Interest Period will be due and payable on the related Payment Date.

Appears in 2 contracts

Samples: Indenture Supplement (Ford Credit Floorplan LLC), Indenture Supplement (Ford Credit Floorplan LLC)

Interest Accrual. Each Class of Series 20192018-2 Notes will accrue interest on its Note Balance for each Interest Period until the Note Balance has been paid in full at a rate per annum equal to its Note Interest Rate for that Interest Period. Interest on the Notes will be calculated for each Interest Period on the basis of a 360-day year consisting of twelve 30-day months. Interest on each Note for each Interest Period will be due and payable on the related Payment Date.

Appears in 2 contracts

Samples: Indenture Supplement (Ford Credit Floorplan LLC), Indenture Supplement (Ford Credit Floorplan LLC)

Interest Accrual. Each Class of Series 2019-2 4 Notes will accrue interest on its Note Balance for each Interest Period until the Note Balance has been paid in full at a rate per annum equal to its Note Interest Rate for that Interest Period. Interest on the Notes will be calculated for each Interest Period on the basis of a 360-day year consisting of twelve 30-day months. Interest on each Note for each Interest Period will be due and payable on the related Payment Date.

Appears in 2 contracts

Samples: Indenture Supplement (Ford Credit Floorplan LLC), Indenture Supplement (Ford Credit Floorplan LLC)

Interest Accrual. Each Class of Series 20192020-2 Notes will accrue interest on its Note Balance for each Interest Period until the Note Balance has been paid in full at a rate per annum equal to its Note Interest Rate for that Interest Period. Interest on the Notes will be calculated for each Interest Period on the basis of a 360-day year consisting of twelve 30-day months. Interest on each Note for each Interest Period will be due and payable on the related Payment Date.

Appears in 2 contracts

Samples: Indenture Supplement (Ford Credit Floorplan LLC), Indenture Supplement (Ford Credit Floorplan LLC)

Interest Accrual. Each Class of Series 20192018-2 4 Notes will accrue interest on its Note Balance for each Interest Period until the Note Balance has been paid in full at a rate per annum equal to its Note Interest Rate for that Interest Period. Interest on the Notes will be calculated for each Interest Period on the basis of a 360-day year consisting of twelve 30-day months. Interest on each Note for each Interest Period will be due and payable on the related Payment Date.

Appears in 2 contracts

Samples: Indenture Supplement (Ford Credit Floorplan LLC), Indenture Supplement (Ford Credit Floorplan LLC)

Interest Accrual. Each Class of Series 20192017-2 3 Notes will accrue interest on its Note Balance for each Interest Period until the Note Balance has been paid in full at a rate per annum equal to its Note Interest Rate for that Interest Period. Interest on the Notes will be calculated for each Interest Period on the basis of a 360-day year consisting of twelve 30-day months. Interest on each Note for each Interest Period will be due and payable on the related Payment Date.

Appears in 2 contracts

Samples: Indenture Supplement (Ford Credit Floorplan LLC), Indenture Supplement (Ford Credit Floorplan LLC)