Principal and Interest Account (a) The Servicer shall establish and maintain at one or more Designated Depository Institutions the Principal and Interest Account, which shall be an Eligible Account. The Principal and Interest Account shall be identified on the records of the Designated Depository Institution as follows: JPMorgan Chase Bank, National Association, as Trustee on behalf of the Owners of the Centex Home Equity Loan Trust [2006-__] Home Equity Loan Asset-Backed Certificates. If the institution at any time holding the Principal and Interest Account ceases to be eligible as a Designated Depository Institution hereunder, then the Servicer shall immediately be required to name a successor institution meeting the requirements for a Designated Depository Institution hereunder. If the Servicer fails to name such a successor institution, then the Principal and Interest Account shall thenceforth be held as a trust account at the Corporate Trust Office of the Trustee. The Servicer shall notify the Trustee and the Owners if there is a change in the name, account number or institution holding the Principal and Interest Account. Subject to Subsection (c) below, the Servicer shall deposit all receipts required pursuant to Subsection (c) below and related to the Home Equity Loans to the Principal and Interest Account on a daily basis (but no later than the second Business Day after receipt).
Interest Accrual Each Class of 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 Class A-1 and Class A-2b Notes will be calculated for each Interest Period on the basis of the actual number of days in the Interest Period and a 360-day year. Interest on the Notes (other than the Class A-1 and Class A-2b Notes) for each Interest Period will be calculated 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.
Distributions and Interest Amount (i) Interest Rate. "
Capitalized Interest Account On the Closing Date, the Issuer shall deposit the Capitalized Interest Account Initial Deposit into the Capitalized Interest Account.
Interest and Interest Rate (a) The Designated Securities will bear interest from April [•], 2010 or from the most recent date through which the Issuer has paid or provided for interest on the Designated Securities at an annual rate of 3.729%.
Principal Payment Dates Subject to the Subordination Provisions set forth below, payments of the principal amount of this Company Note shall be made as follows:
Simple Interest Mortgage Loans None of the Mortgage Loans are simple interest Mortgage Loans.
Interest Interest Calculations and Certain Fees (a) From and following the Closing Date, except as expressly set forth in this Agreement, the Loan and the other Obligations shall bear interest at the sum of the LIBOR Rate plus the Applicable Margin. Interest on the Loan shall be paid in arrears on the first (1st) day of each month, commencing on February 1, 2014, and on the maturity of the Loan, whether by acceleration or otherwise. Interest on all other Obligations shall be payable upon demand.
Interest and Interest Rates The rate or rates at which the Notes shall bear interest, the date or dates from which such interest shall accrue, the interest payment dates on which any such interest shall be payable and the regular record date for any interest payable on any interest payment date, in each case, shall be as set forth in the form of Note set forth as Exhibit A hereto.
Interest Accruing Each interest-bearing Receivable is, as of the Cut-off Date, accruing interest. Documents Data tape Procedures to be Performed
