30/360 Basis definition

30/360 Basis. The accrual of interest calculated on the basis of a 360-day year consisting of twelve 30-day months.

30/360 Basis means on the basis of a 360-day year consisting of 12 months of 30 days each.

30/360 Basis. As defined in the Preliminary Statement.

Examples of 30/360 Basis in a sentence

• Such Mortgage Loan accrues interest on an Actual/360 Basis, an Actual/Actual Basis or a 30/360 Basis; and such Mortgage Loan accrues interest (payable monthly in arrears) at a fixed rate of interest throughout the remaining term thereof (except if such Mortgage Loan is an ARD Mortgage Loan, in which case the accrual rate for interest will increase after its Anticipated Repayment Date, and except in connection with the occurrence of a default and the accrual of default interest).

• Borrower acknowledges that interest calculated on an Actual/360 Basis exceeds interest calculated on a 30/360 Basis and, therefore: (a) a greater portion of each monthly installment of principal and interest will be applied to interest using the Actual/360 Basis than would be the case if interest accrued on a 30/360 Basis; and (b) the unpaid principal balance of this Note on the Maturity Date will be greater using the Actual/360 Basis than would be the case if interest accrued on a 30/360 Basis.

• Borrower acknowledges that interest calculated on an Actual/360 Basis exceeds interest calculated on a 30/360 Basis.

• As to each such Mortgaged Property and Mortgage Loan included in the Collateral Pool, the Property Management Fee shall accrue daily at the related Property Management Fee Rate on the basis of the Collateral Value of each such Mortgaged Property and Mortgage Loan and shall be calculated with respect to each Mortgage Loan on the same basis as interest accrues on such Mortgage Loan and with respect to each Mortgaged Property on a 30/360 Basis.

• As to each Specially Serviced Asset, the Special Servicing Fee shall accrue daily from time to time at the Special Servicing Fee Rate on the basis of the Collateral Value of such Specially Serviced Asset and shall be calculated with respect to each Specially Serviced Loan on the same basis as interest accrues on such Specially Serviced Loan and with respect to each Mortgaged Property related to a Specially Serviced Lease on a 30/360 Basis.

More Definitions of 30/360 Basis

30/360 Basis means, for purposes of calculating a rate for Distributions, such rate calculated on the basis of a 360-day year consisting of twelve 30-day months.

30/360 Basis means any Mortgage Loan that accrues interest on the basis of a 360-day year consisting of twelve 30-day months.

30/360 Basis means the accrual of interest calculated on the basis of a 360-day year consisting of twelve 30-day months. "200 Park Avenue Co-Lender Agreement" shall have the meaning assigned thereto in the Preliminary Statement.

30/360 Basis. As defined in clause (iii) of the definition of "Mortgage Loan Schedule".

30/360 Basis means the accrual of interest calculated on the basis of a 360-day year consisting of twelve 30-day month-long Security Interest Accrual Periods.

30/360 Basis means a calculation for the relevant Distribution Period or other period on the basis of a year of 360 days consisting of twelve 30-day months.

30/360 Basis. As defined in the Introductory Statement.