Common use of Interest Payments Clause in Contracts

Interest Payments. The amount of interest that will accrue on a given Class of Notes during each Accrual Period is equal to: • the Class Coupon for such Class of Notes for such Accrual Period (calculated using the Class Coupon Formula for such Class of Notes, if applicable), multiplied by • the Class Principal Balance (or Notional Principal Amount) of such Class of Notes immediately prior to such Payment Date, multiplied by • a fraction, the numerator of which is the actual number of days in such Accrual Period and the denominator of which is 360. Interest shall be payable in arrears. Notwithstanding the foregoing, the amount of interest payable to any Class of Notes may be subject to reduction or increase as set forth under Section 3.03(f) or Section 3.03(g) hereof, as applicable.