Common use of Monthly Interest Clause in Contracts

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.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Navistar Financial Corp), Pooling and Servicing Agreement (Navistar Financial Securities Corp)

AutoNDA by SimpleDocs

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 19971995-1 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 19971995-1 Certificateholders on a prior Distribution Date shall be deposited in the Distribution Account.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Navistar Financial Securities Corp), Series 1995 1 Supplement Amendment (Navistar Financial Corp)

Monthly Interest. An amount equal to Monthly Interest for the related Distribution Period Period, plus any Monthly Interest due with respect to any prior Distribution Period but not previously distributed to the Series 1997-1 Certificateholders on a prior Distribution Date, plus to the extent permitted by law, additional interest at the Certificate Rate for such Distribution Period that has accrued on Monthly Interest that was due pursuant to this clause (iii) but was not previously distributed to the Series 1997-1 Certificateholders on a prior Distribution Date shall be deposited in the Distribution Account.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Navistar Financial Corp), Pooling and Servicing Agreement (Navistar Financial Securities Corp)

Monthly Interest. An amount equal to Monthly Interest for the related Distribution Period Period, plus any Monthly Interest due with respect to any prior Distribution Period but not previously distributed to the Series 19971995-1 Certificateholders on a prior Distribution Date, plus to the extent permitted by law, additional interest at the Certificate Rate for such Distribution Period that has accrued on Monthly Interest that was due pursuant to this clause (iii) but was not previously distributed to the Series 19971995-1 Certificateholders on a prior Distribution Date shall be deposited in the Distribution Account.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Navistar Financial Securities Corp)

AutoNDA by SimpleDocs

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 19971998-1 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 19971998-1 Certificateholders on a prior Distribution Date shall be deposited in the Distribution Account.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Navistar Financial Securities Corp)

Monthly Interest. An amount equal to Monthly Interest for the related Distribution Period Period, plus any Monthly Interest due with respect to any prior Distribution Period but not previously distributed to the Series 19971998-1 Certificateholders on a prior Distribution Date, plus to the extent permitted by law, additional interest at the Certificate Rate for such Distribution Period that has accrued on Monthly Interest that was due pursuant to this clause (iii) but was not previously distributed to the Series 19971998-1 Certificateholders on a prior Distribution Date shall be deposited in the Distribution Account.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Navistar Financial Securities Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!