Common use of Interest on the Deposit Account Clause in Contracts

Interest on the Deposit Account. Deposit Taker will have no obligation to pay any interest on the Deposit Account except as follows: on each Base Rent Date accrued interest on each Deposit Account maintained by Deposit taker will be added to the Deposit Account for the period (the “Interest Period”) since the preceding Base Rent Date (or if there was no preceding Base Rent Date, since the Base Rent Commencement Date) equal to the product of: • the lesser of (i) an amount, computed as of the first day of the Base Rent Period that includes or coincides with such Interest Period, equal to a fraction of the Lease Balance, the numerator of which fraction equals the funds held in the Deposit Account on such first day and the denominator of which fraction equals the total of all Cash Collateral pledged to BNPPLC on such first day, or (ii) the principal balance of the Deposit Account on the first day of such Interest Period, times • the Collateral Percentage for the Base Rent Period that includes or coincides with such Interest Period, times • LIBID for such Interest Period, times • the number of days in such Interest Period, divided by • three hundred sixty. (As used in this Section 3, capitalized terms defined in the Common Definitions and Provisions Agreement are intended to have the respective meanings assigned to them in the Common Definitions and Provisions Agreement.)