Interest and Additional Payments. On each Payment Date, the amount of interest that will accrue on the outstanding Notes during the related Accrual Period is equal to: • one-twelfth (1/12) of the Class Coupon, multiplied by • the Class Principal Balance of the Notes immediately prior to such Payment Date. Interest on the Notes shall be calculated and payable on the basis of a 360-day year consisting of twelve 30-day months. Interest shall be payable in arrears. In addition to the interest payable on the Notes on each Payment Date as specified above, to the extent that a prepayment premium or yield maintenance charge is due with respect to Freddie Mac’s guarantee of the related tax-exempt bond financing or, in the case of supplemental loans, interest collected, Freddie Mac shall also pay on each Payment Date an amount determined with reference to a specified portion of such premium or charge that is received by or on behalf of the related servicer on each Reference Obligation during the related Reporting Period. The portion of such premiums and charges payable on the Notes on each Payment Date shall be an amount equal to the pro rata share of the total of such premiums and charges based on the Class Notional Amounts of the Class A-H and Class B Reference Tranches immediately prior to such Payment Date.
Interest and Additional Payments. On each Payment Date, the amount of interest that will accrue on the outstanding Notes during the related Accrual Period is equal to: • one-twelfth (1/12) of the Class Coupon, multiplied by • the Class Principal Balance of the Notes immediately prior to such Payment Date. Interest on the Notes shall be calculated and payable on the basis of a 360-day year consisting of twelve 30-day months. Interest shall be payable in arrears. In addition to the interest payable on the Notes on each Payment Date as specified above, to the extent that:
Interest and Additional Payments. On each Payment Date, the amount of interest that will accrue on the outstanding Notes during the related Accrual Period is equal to: • one-twelfth (1/12) of the Class Coupon, multiplied by • the Class Principal Balance of the Notes immediately prior to such Payment Date. Interest on the Notes shall be calculated and payable on the basis of a 360-day year consisting of twelve 30-day months. Interest shall be payable in arrears. In addition to the interest payable on the Notes on each Payment Date as specified above, to the extent that a prepayment premium or yield maintenance charge is due with respect to Xxxxxxx Mac’s guarantee of the related tax-exempt bond financing or, in the case of supplemental loans, interest collected, Xxxxxxx Mac shall also pay on each Payment Date an amount equal to a specified percentage of such premium or charge that is payable to Xxxxxxx Mac and that is actually collected by or on behalf of the related servicer on each Reference Obligation during the related Reporting Period. The percentage of such premiums and charges payable on the Notes on each Payment Date shall be equal to 50% of the total of such premiums and charges.
Interest and Additional Payments. During the Extended Period, the
Interest and Additional Payments. During the Extended Period, the unpaid amount of the Note shall bear interest at 12% per annum. This interest shall be paid currently on the last day of each month that the unpaid principal is outstanding. In the event of a default in this Second Note Modification Agreement, interest on the outstanding balance of the Note shall be increased to 15%.
