Common use of Payment and Calculation of Interest Clause in Contracts

Payment and Calculation of Interest. On each Payment Date, the Issuer shall, to the extent that it has funds available therefore pursuant to, and in accordance with, clause 21 (Order of Priority) of the Trust Agreement, pay to the Subordinated Lender any interest accrued but unpaid on the Subordinated Loan during the immediately preceding Interest Period by applying the Subordinated Loan Interest Rate to the Subordinated Loan Amount outstanding immediately prior to the relevant Payment Date and on the basis of a year of 365 days and the actual number of days elapsed in the relevant Interest Period and rounding the result up or down to the nearest full xxxxx.

Payment and Calculation of Interest. On each Payment Date, the Issuer shall, to the extent that it has funds available therefore therefor pursuant to, and in accordance with, clause 21 20 (Order of Priority) of the Trust Agreement, pay to the Subordinated Lender any interest accrued but unpaid on the Subordinated Loan during the immediately preceding Interest Period by applying the Subordinated Loan Interest Rate to the Subordinated Loan Amount outstanding immediately prior to the relevant Payment Date and on the basis of a year of 365 days and the actual number of days elapsed in the relevant Interest Period and rounding the result up or down to the nearest full xxxxx.

Payment and Calculation of Interest. On each Payment Date, the Issuer shall, to the extent that it has funds available therefore pursuant to, and in accordance with, clause 21 (Order of Priority) of the Trust Agreement, pay to the Subordinated Lender any interest accrued but unpaid on the Subordinated Loan during the immediately preceding Interest Period by applying the Subordinated Loan Interest Rate Margin to the Subordinated Loan Amount outstanding immediately prior to the relevant Payment Date and on the basis of a year of 365 days and the actual number of days elapsed in the relevant Interest Period and rounding the result up or down to the nearest full xxxxx.