Interest Allocations. Beginning on the cut-off date, each class (other than any PO class) will accrue interest for each month on its principal or notional balance at the certificate rate for the class stated in “The series - General terms for classes” above. In calculating accrued interest, · a class’s principal or notional balance on the last day of a month will be considered to be the class’s principal or notional balance on every day of the month, and · interest for a month will be calculated at 1/12 of the certificate rate, regardless of the number of days in the month. Example: Suppose that on January 1, a class has a principal balance of $1,020,000 and a certificate rate of 6% per annum. On the January distribution day, the class’s principal balance is reduced by $20,000. As a result, the principal balance of the class on January 31 is $1 million. Then the interest accrued for the class during January (which is paid on the February distribution day) is 1/12 of 6% of $1 million = $5,000; that the principal balance of the class was greater than $1 million before the January distribution day, and that January has 31 days, are irrelevant.
Interest Allocations. Each Managing Agent shall, from time to time and in its sole discretion, determine whether interest in respect of the Advances then outstanding and owing to the Lenders in the related Group, or any portion thereof, shall be calculated by reference to the Commercial Paper Rate (such portion of the Principal Debt being herein called a “CP Allocation”), the Eurodollar Rate or the Alternate Base Rate (such portion of the Principal Debt as shall be calculated based on the Alternate Base Rate or the Eurodollar Rate collectively, being herein called an “ABR Allocation”; provided, however, that each Advance made by a Bank hereunder shall be allocated to the ABR Allocation. Each Managing Agent shall provide the Borrower with reasonably prompt notice of the allocations made by it pursuant to this Section 2.9. In making its allocation decision pursuant to the foregoing sentence, each Managing Agent shall use reasonable efforts, taking into account market conditions, to accommodate the Borrower’s preferences; provided, however, that the Managing Agents shall have the ultimate authority to make all such decisions. Following designation by each Managing Agent of any Advance, or any portion thereof, as being a CP Allocation, the Borrower may, at all times that such designation remains in effect, consult with such Managing Agent as to the number and length of Interest Periods relating to such CP Allocation. In selecting such Interest Periods, each Managing Agent shall use reasonable efforts, taking into account market conditions, to accommodate the Borrower’s preferences; provided, however, that each Managing Agent shall have the ultimate authority to make all such selections.
Interest Allocations. 21 Section 3.4 Fees.......................................................... 21 Section 3.5 Computation of Interest and Fees.............................. 21
Interest Allocations. Administrator shall from time to time and in its sole discretion determine whether interest in respect of the Loans then outstanding, or any portion thereof, shall be calculated by reference to the Commercial Paper Rate (such portion being herein called a "CP ALLOCATION") or an Alternative Rate (such portion being herein called an "ALTERNATIVE RATE ALLOCATION", and together with a CP Allocation individually called an "ALLOCATION", and collectively, "ALLOCATIONS"); PROVIDED, HOWEVER, that, Administrator shall use its reasonable efforts to allocate all or substantially all of the Loans from Lender to a CP Allocation (it being understood that if Lender is not able to issue sufficient Commercial Paper Notes to fund all of its assets at such time and no Significant Event or Unmatured Significant Event has occurred and is continuing, Lender and Administrator shall, at least, fund the Loans pro rata with its other non-defaulted assets with Commercial Paper Notes); PROVIDED FURTHER, HOWEVER, that Administrator may determine, at any time and in its sole discretion, that the Commercial Paper Rate is unavailable or otherwise not desirable, in which case the Loans from Lender will be allocated to an Alternative Rate Allocation (unless the Default Rate is in effect).
Interest Allocations. Administrator shall from time to time and in its sole discretion determine whether interest in respect of the Loans then outstanding, or any portion thereof, shall be calculated by reference to the Commercial Paper Rate (such portion being herein called a "CP Allocation") or the Alternative Rate (such portion being herein called an "Alternative Rate Allocation", and together with a CP Allocation individually called an "Allocation", and collectively, "Allocations"); provided, however, that, Administrator shall use its reasonable efforts to allocate all or substantially all of the Loans from Lender to a CP Allocation; provided further, however, that Administrator may determine, at any time and in its sole discretion, that the Commercial Paper Rate is unavailable or otherwise not desirable, in which case the Loans from Lender will be allocated to an Alternative Rate Allocation (unless the Default Rate is in effect).
Interest Allocations. Administrator shall from time to time and in its sole discretion determine whether interest in respect of the Loans then outstanding, or any portion thereof, shall be calculated by reference to the Commercial Paper Rate (such portion being herein called a “CP Allocation”) or an Alternative Rate (such portion being herein called an “Alternative Rate Allocation”, and together with a CP Allocation individually called an “Allocation”, and collectively, “Allocations”); provided, however, that, Administrator shall use its reasonable efforts to allocate all or substantially all of the Loans from Lender to a CP Allocation (it being understood that if Lender is not able to issue sufficient Commercial Paper Notes to fund all of its assets at such time and no Significant Event or Unmatured Significant Event has occurred and is continuing, Lender and Administrator shall, at least, fund the Loans pro rata with its other non-defaulted assets with Commercial Paper Notes); provided further, however, that Administrator may determine, at any time and in its sole discretion, that the Commercial Paper Rate is unavailable or otherwise not desirable, in which case the Loans from Lender will be allocated to an Alternative Rate Allocation (unless the Default Rate is in effect).
Interest Allocations. On each Distribution Date, (i) the Indenture Trustee shall deposit into the Note Distribution Account all funds on deposit in the Reserve Fund and (ii) the Servicer shall instruct the Indenture Trustee in writing to withdraw, and on the related Distribution Date the Indenture Trustee shall withdraw from the Note Distribution Account (A) the Interest Collections and (B) amounts deposited therein from the Reserve Fund to the extent necessary to make the following payments. The payments listed below will be made only to the extent there are sufficient amounts available in the Note Distribution Account on the Distribution Date. Payments will be made in the order of priority listed below. With respect to pro rata payments of principal of the Notes as described herein, payments shall be made pro rata to the Classes of Notes then outstanding based on the respective original principal amounts of such Classes of Notes with respect to which such payments are made, and any amount of principal to be paid pro rata solely between the Class A-l Notes and the Class A-2 Notes will be paid based on the Outstanding Principal Balance of the Class A-l Notes and the Class A-2 Notes as set forth in the Quarterly Report for the related Determination Date. If on any Pro Rata Distribution Date the Outstanding Principal Balance of any Class of Notes shall be reduced to zero after application of any payments in respect of principal on such Distribution Date, the amount remaining for distribution in respect of principal on such date shall be distributed pro rata to the Classes of Notes which then have Outstanding Principal Balances based on the respective original principal amounts of such Classes of Notes. Payments will be made in the following order of priority.
Interest Allocations. Beginning on the cut-off date, each class (other than any PO class) will accrue interest for each month on its principal or notional balance at the certificate rate for the class stated in “The series – General terms for classes” above. In calculating accrued interest, · a class’s principal or notional balance on the last day of a month will be considered to be the class’s principal or notional balance on every day of the month, and · interest for a month will be calculated at 1/12 of the certificate rate, regardless of the number of days in the month.
Interest Allocations. Any and all interest which would result from or arise out of the deposits being made and held in escrow by the APPLICANT shall revert to the use and enjoyment of the escrow holder as compensation for the services rendered in connection with this Escrow Agreement, unless otherwise specified in Section 2 pertaining to the escrow funds exceeding $5,000.00.
Interest Allocations. 36 2.10. Interest Rates......................................................... 36 2.11. Quotation of Rates..................................................... 36 2.12. Default Rate........................................................... 36 2.13.
