Monthly Interest. (a) The amount of monthly interest with respect to the Class A Certificates ("Class A Monthly Interest") on any Distribution Date shall be an ------------------------ amount equal to (x) the actual number of days elapsed in the related Interest Period divided by 360 days, multiplied by (y) the product of (i) the Class A Certificate Rate and (ii) the outstanding principal balance of the Class A Certificates as of the close of business on the preceding Distribution Date (after giving effect to all repayments of principal allocated to the Class A Certificates on such preceding Distribution Date, if any); provided, however, -------- ------- with respect to the first Distribution Date, Class A Monthly Interest shall be equal to $__________. Two Business Days prior to each Distribution Date, the Servicer shall determine and notify the Trustee in the Distribution Date Statement of the excess, if any, of (x) the sum of Class A Monthly Interest for the Interest Period applicable to such Distribution Date plus the amount, if any, of the Class A Interest Shortfall which was due but not paid on the prior Distribution Date over (y) the amount which will be available to be distributed with respect to the Class A Certificates on such Distribution Date in respect thereof pursuant to this Series Supplement (such excess, the "Class A Interest ---------------- Shortfall"). If, on any Distribution Date, the Class A Interest Shortfall is greater than zero, then an additional amount ("Class A Additional Interest") --------------------------- equal to (x) the actual number of days in the Interest Period commencing on such Distribution Date divided by 360 days multiplied by (y) the product of (i) the Class A Certificate Rate for such Interest Period and (ii) such Class A Interest Shortfall shall be payable as provided herein with respect to the Class A Certificates on the Distribution Date following such Distribution Date. Notwithstanding anything to the contrary herein, Class A Additional Interest shall be distributed with respect to the Class A Certificates only to the extent permitted by applicable law.
(b) The amount of monthly interest with respect to the Class B Certificates ("Class B Monthly Interest") on any Distribution Date shall be an ------------------------ amount equal to (x) the actual number of days elapsed in the related Interest Period divided by 360 days multiplied by (y) the product of (i) the Class B Certificate Rate and (ii) the outstanding principal balance...
Monthly Interest. An amount equal to Monthly Interest for the related Distribution Period plus any Monthly Interest due with respect to any prior Distribution Period not previously distributed to the Series 1997-1 Certificateholders on a prior Distribution Date, plus to the extent permitted by law, interest at the Certificate Rate that has accrued on Monthly Interest that was due pursuant to this clause (i) but was not previously distributed to the Series 1997-1 Certificateholders on a prior Distribution Date shall be deposited in the Distribution Account.
Monthly Interest. The amount of monthly interest ("Class A Monthly Interest") with respect to the Class A Certificates on any Distribution Date shall be an amount determined by the Program Agent in accordance with the Certificate Purchase Agreement and the Program Agent shall give notice thereof to the Seller and the Servicer at least two Business Days prior to the related Determination Date. On the Determination Date preceding each Distribution Date, the Servicer shall determine the excess, if any (the "Class A Interest Shortfall"), of (x) the aggregate Class A Monthly Interest for the Interest Period applicable to such Distribution Date over (y) the amount that will be available in the Series 1997-1 Trustee's Account on such Distribution Date in respect thereof pursuant to this Series Supplement. If, on any Distribution Date there exists a Class A Interest Shortfall, then an additional amount ("Class A Additional Interest") determined by the Program Agent in accordance with the Certificate Purchase Agreement shall be payable as provided herein with respect to the Class A Certificates on each Distribution Date following such Distribution Date to and including the Distribution Date on which such Class A Interest Shortfall is paid or deposited in the Series 1997-1 Trustee's Account. Notwithstanding anything to the contrary herein, the Servicer shall instruct the Trustee to pay Class A Additional Interest to Class A Certificateholders only to the extent permitted by applicable law.
Monthly Interest. Interest on the Loan shall be due and payable monthly in arrears on the first Business Day of each month (each, a “Monthly Payment” or “Monthly Interest”).
Monthly Interest. Beginning with the first Business Day of the month following the Effective Date, and on the first business day of each succeeding month thereafter, notwithstanding anything in the Notes or the Note Agreement to the contrary, the Company shall pay interest in respect of the outstanding principal balance of the Notes monthly in arrears at the Applicable Rate and on the basis of a 360 day year of twelve 30 day months.
Monthly Interest. An amount equal to Monthly Interest for the Distribution Date shall be deposited in the Distribution Account.
Monthly Interest. On each Business Day during a Monthly Period, the Trustee, acting in accordance with instructions from the Servicer, shall deposit into the Interest Funding Account for distribution on the next Distribution Date to the Class B Securityholders, to the extent of any Available Series 1998-1 Finance Charge Collections remaining after giving effect to the application pursuant to subsection 4.9(a)(i) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 1998-1 Finance Charge Collections and (y) the excess of (1) the sum of Class B Monthly Interest for the Interest Accrual Period beginning in such Monthly Period and Carryover Class B Monthly Interest over (2) any amounts with respect thereto previously deposited into the Interest Funding Account during such Monthly Period. Notwithstanding anything to the contrary herein, the portion of Carryover Class B Monthly Interest that constitutes Class B Additional Interest shall be payable or distributable to Class B Securityholders only to the extent permitted by applicable law.
Monthly Interest. The Borrower shall make monthly payments of accrued interest in arrears on the outstanding principal balance of each Revolving Advance on (x) each Payment Date, for Revolving Advances accruing interest at the Prime Rate and (y) each Interest Payment Date, for Revolving Advances accruing interest at the LIBOR Option. If interest is due and accrued for a period of more or less than one (1) month on any Payment Date or on any Interest Payment Date, as applicable, such payment shall be increased or decreased to the extent that the amount of interest then due under such payment exceeds or is less than one (1) month’s interest.
Monthly Interest. The Borrower shall make, on each Payment Date, monthly payments of accrued interest in arrears on the outstanding principal balance of the Aggregate Revolving Advances.
Monthly Interest. (a) The amount of monthly interest ("Monthly Interest") with respect to the Series 1996-2 Certificates on any Distribution Date shall be an amount
