Daily Interest Expense definition

Daily Interest Expense means, for any Business Day, an amount equal to (i) the amount of accrued and unpaid Interest in respect of such day plus (ii) the aggregate amount of all previously accrued and unpaid Interest that has not yet been deposited in the Payments Reserve Accounts plus (iii) the aggregate amount of all accrued and unpaid Additional Interest.

Daily Interest Expense for any day in any Accrual Period, shall mean the sum of (A) the product of (i) the portion of the Series 1997-A Invested Amount (calculated without regard to clauses (d) and (e) of the definition of Series 1997-A Purchaser Invested Amount) allocable to the Floating Tranche on such day divided by 365 and (ii) the ABR plus the Applicable Margin in effect on such day, and (B) the product of (i) the portion of the Series 1997-A Supplement Series 1997-A Invested Amount (calculated without regard to clauses (d) and (e) of the definition of Series 1997-A Purchaser Invested Amount) allocable to Eurodollar Tranches on such day divided by 360 and (ii) either (A) One-Month LIBOR if the Eurodollar Tranche has a Eurodollar Period or (B) the NIBO Rate if the Eurodollar Tranche has a NIBO Period plus the Applicable Margin on such day in effect with respect thereto; provided, however, that for the purposes of calculating Series 1997-A Monthly Interest, the "Daily Interest Expense" for any day following the date of determination shall be based on the allocable portions of the Series 1997-A Invested Amount, the ABR, One-Month LIBOR, the NIBO Rate and the Applicable Margins as of or in effect on such date of determination; provided further that for any such day during the continuation of an Early Amortization Period, the "Daily Interest Expense" for such day shall be equal to the greater of (i) the sum of the amounts calculated pursuant to clauses (A) and (B) above and (ii) the product of (x) the Series 1997-A Invested Amount on such day divided by 365 and (y) the ABR in effect on such day plus 2.00% per annum.

Daily Interest Expense means for each day in an Accrual Period, the sum of: (i) for each CP Tranche outstanding on such day, the product of (A) the portion of the Series 2000-2 Funded Amount allocated to such Funding Tranche on such day and (B) the "estimated CP Rate" (which shall be the CP Rate in effect for the preceding Accrual Period (or, in the case of the initial Accrual Period, the CP Rate specified by the Administrator by notice to the Servicer on or prior to the Closing Date)/360 PLUS (ii) for each Floating Tranche outstanding on such day, the product of (A) the portion of the Series 2000-2 Funded Amount allocated to such Floating Tranche on such day and (B) the Base Rate in effect on such day (or, if such day is after the delivery of the calculation of Series 2000-2 Monthly Interest to the Servicer for any Accrual Period, the Base Rate in effect on the date of such delivery)/365 or 366, as applicable, PLUS (iii) for each Eurodollar Tranche outstanding on such day, the product of (A) the portion of the Series 2000-2 Funded Amount allocable to such Eurodollar Tranche on such day and (y) the Euro-Rate in effect for such Accrual Period/360. "DAILY SERVICING FEE DEPOSIT" shall mean, for any Business Day, an amount equal to (i) the amount of Daily Servicing Fee Expense for each day since the preceding Business Day PLUS (ii) the aggregate amount of all previously accrued Daily Servicing Fee Expense that has not yet been deposited in the Series 2000-2 Collection Sub-account.

Examples of Daily Interest Expense in a sentence

• If any such change in the method of calculating the Series 2000-1 Daily Interest Expense occurs on a day which is not the last day of the Series 2000-1 Eurodollar Period with respect to any Series 2000-1 Eurodollar Tranche, the Company shall pay to the Funding Agent for the account of such Series 2000-1 Purchaser or Series 2000-1 APA Bank the amounts, if any, as may be required pursuant to Section 7.04.

• The amount of interest distributable with respect to the Series 2000-1 VFC Certificate with respect to interest ("Series 2000-1 Monthly Interest Distribution") on each ------------------------------------------- Distribution Date shall be the aggregate amount of Series 2000-1 Daily Interest Expense accrued during the immediately preceding Accrual Period ending on such Distribution Date.

• The amount of interest distributable with respect to the Series 2000-1 VFC Certificate (“Series 2000-1 Accrued Interest”) on any date of determination shall be the aggregate amount of Series 2000-1 Daily Interest Expense accrued from and including the Series 0000-0 Xxxxxxxx Date to but excluding such date of determination minus the aggregate amount of interest that has been distributed in accordance with subsection 3A.05(a)(ii) or subsection 3A.05(b)(ii).

• The amount of interest distributable with respect to the Series 2000-1 VFC Certificate ("SERIES 2000-1 ACCRUED INTEREST") on any date of determination shall be the aggregate amount of Series 2000-1 Daily Interest Expense accrued from and including the Series 0000-0 Xxxxxxxx Date to but excluding such date of determination minus the aggregate amount of interest that has been distributed in accordance with SUBSECTION 3A.05(A)(II) or SUBSECTION 3A.05(B)(II).

• On each Business Day an amount equal to the Series 1994-2 Daily Interest Expense for such day shall be transferred by the Trustee, based solely on the information provided to the Trustee by the Master Servicer in the Daily Report (upon which the Trustee may conclusively rely), from the Series 1994-2 Non-Principal Collection Sub-subaccount to the Series 1994-2 Accrued Interest Sub-subaccount.

More Definitions of Daily Interest Expense

Daily Interest Expense means, with respect to any day, the product of (i) 1/360, (ii) the Fixed Note Rate and (iii) the Aggregate Principal Balance of the Series 2010-1 Note on such day, after giving effect to (x) any distributions made on such day to the Series 2010-1 Noteholder to reduce the Aggregate Principal Balance of the Series 2010-1 Note and (y) any increase to the Aggregate Principal Balance on such day as a result of a new Advance.

Daily Interest Expense means, for any Business Day, an amount equal to (i) the amount of accrued and unpaid Base Daily Interest Expense in respect of such day PLUS (ii) the aggregate amount of all previously accrued and unpaid Base Daily Interest Expense PLUS (iii) the aggregate amount of all accrued and unpaid Additional Interest.

Daily Interest Expense means:

Daily Interest Expense for any day in any Accrual Period, shall mean the product of (i) the Series 1999-A Invested Amount (calculated without regard to clauses (d) and (e) of the definition of Series 1999-A Purchaser Invested Amount) allocable to Eurodollar Tranches on such day divided by 360 and (ii) One-Month LIBOR plus the Applicable Margin on such day in effect with respect thereto; provided, however, that for the purposes of calculating Series 1999-A Monthly Interest, the "Daily Interest Expense" for any day following the date of determination shall be based on the Series 1999-A Invested Amount and the Certificate Rate as of or in effect on such date of determination; provided further that for any such day during the continuation of an Early Amortization Period, the "Daily Interest Expense" for such day shall be equal to the greater of (i) the sum of the amounts calculated pursuant to clauses (A) and (B) above and (ii) the product of (x) the Series 1999-A Invested Amount on such day divided by 365 and (y) the Certificate Rate in effect on such day plus 2.00% per annum.

Daily Interest Expense for any day in any Accrual Period, shall mean the sum of (A) the product of (i) the CP Net Amount divided by 360 and (ii) the CP Rate plus the Applicable Margin in effect on such day, plus (B) the product of (i) the aggregate amount of outstanding Liquidity Loans (or following a draw under the Insurance Policy, an amount equal to the principal amount of such draw) divided by 360 and (ii) the Liquidity Interest Rate plus the Applicable Margin in effect on such day, plus (C) the product of (i) LOC Draws Outstanding divided by 360 and (ii) the LOC Draw Rate plus the Applicable Margin in effect on such day; provided, that for any such day during the continuation of a Designated Early Amortization Period, the "Daily Interest Expense" for such day shall be equal to the greater of (x) the sum of the amounts calculated pursuant to clauses (A), (B) and (C) above and (y) the product of (1) the Series 2000-1 Invested Amount on such day divided by 365 and (2) the Base Rate in effect on such day plus 2.00% per annum.

Daily Interest Expense means, for each day during a Settlement Period, the sum of (i) the product of (A) the Series 2001-1 Invested Amount on such day divided by 360 and (B) the sum of the Applicable Used Fee and the rate appearing on Page 3750 of the Dow Jonxx xxrket screen (or on any successor or substitute page of such Service, providing rate quotations comparable to those currently provided on such page of such Service, as determined by the Administrative Agent from time to time in accordance with its customary practices for purposes of providing quotations of interest rates applicable to dollar deposits in the London interbank market) at approximately 11:00 a.m. (London time) on the second Business Day prior to the commencement of such Settlement Period, as the rate for dollar deposits with a thirty-day maturity and (ii) plus the amount of Additional Interest for such day.

Daily Interest Expense means, for any day in any Accrual Period, an amount equal to 1/10 of the Base Monthly Interest Payment for such Accrual Period (up to but not exceeding the full amount thereof); provided, that, if, during such Accrual Period, (i) ABR has increased since the first day of such Accrual Period and (ii) the actual amount of interest on the VFC Certificates for such Accrual Period exceeds or will exceed the Base Monthly Interest Payment for such Accrual Period, "Daily Interest Expense" for such day shall include an additional amount equal to the amount by which the actual amount of interest on the VFC Certificates for such Accrual Period exceeds or will exceed the Base Monthly Interest Payment for such Accrual Period. "Daily Report" shall mean a report prepared by the Master Servicer on each Business Day for the period specified therein, in substantially the form of Exhibit E.