Calculation of Monthly Interest Sample Clauses

Calculation of Monthly Interest. (a) On the Business Day prior to each Determination Date, the Funding Agent shall calculate (with respect to the CP Rate, based solely on such information provided by the Conduit Purchaser or its program administrator), for the applicable Accrual Period, the aggregate Monthly Interest for each Funding Tranche.
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Calculation of Monthly Interest. (a) On the Business Day prior to each Series Transfer Date, the Administrator (with respect to Three Pillars) and the Funding Agent (with respect to PARCO and the Committed Purchaser) shall calculate, for the applicable Interest Period, the aggregate Monthly Interest for each Funding Tranche (such Monthly Interest to be calculated using the Note Rate, if necessary, for the remaining days in such Interest Period). Each of the Administrator and the Funding Agent may, in its sole discretion, determine the Commercial Paper Rate for its related Conduit Purchaser with respect to each Series Transfer Date using the Match Funding Rate or the Pool Funding Rate; provided, however, that to the extent that the related Conduit Purchaser may choose between the Match Funding Rate or the Pool Funding Rate, the Issuer may request the Administrator or the Funding Agent, as applicable, to use either the Match Funding Rate or the Pool Funding Rate in determining the Commercial Paper Rate for its related Conduit Purchaser with respect to such Series Transfer Date (it being understood and agreed that the Administrator or the Funding Agent, as applicable, shall have no obligation to follow any such request by the Issuer).
Calculation of Monthly Interest. (a) On the Business Day immediately preceding the Determination Date for each Payment Date, the Agent shall calculate for the applicable Accrual Period, the Monthly Interest (such Monthly Interest shall be calculated using an estimate of the Funding Rate for any Funding Tranche, if necessary, for the remaining days in such Accrual Period); provided, however, that each such estimated amount shall be adjusted as provided in Section 2.10(b) hereof. The Agent shall report the amount of such Monthly Interest to the Servicer and the Indenture Trustee on the same day such amount is calculated.
Calculation of Monthly Interest. (a) Prior to a Series 2007-A Pay Out Event, each portion of the outstanding balance of the Class A Note Principal Balance funded by a Conduit Purchaser for each day that such amount is outstanding shall accrue interest in an amount equal to the CP Costs for such Conduit Purchaser. On and after a Series 2007-A Pay Out Event, each portion of the outstanding balance of the Class A Note Principal Balance funded by a Conduit Purchaser for each day that such amount is outstanding shall accrue interest in an amount equal to the Default Yield for such Conduit Purchaser. The portion of the Class A Note Principal Balance funded by a Conduit Purchaser with Pooled Commercial Paper with respect to a Conduit Purchaser will accrue CP Costs each day on a pro rata basis, based upon the percentage share that such amount represents in relation to all assets held by such Conduit Purchaser and funded substantially with related Pooled Commercial Paper with respect to a Conduit Purchaser. On the Determination Date, each Conduit Purchaser shall calculate the aggregate amount of its CP Costs allocated to the portion of the Class A Note Principal Balance held by it for the applicable Due Period and shall notify, or shall cause its Agent to notify, the Servicer of such aggregate amount.
Calculation of Monthly Interest. (a) On the Business Day immediately prior to each Series Transfer Date, the Purchaser shall calculate, for the applicable Interest Period, the aggregate Monthly Interest for each Funding Tranche (such Monthly Interest to be calculated using the Note Rate, if necessary, for the remaining days in such Interest Period).
Calculation of Monthly Interest. No later than three (3) ------------------------------- Business Days preceding the Determination Date for each Payment Date, the Funding Agent shall calculate, for the applicable Accrual Period, the Monthly Interest. The Funding Agent shall report the amount of such Monthly Interest to the Servicer and the Indenture Trustee on the same day such amount is calculated.
Calculation of Monthly Interest. (a) Prior to the occurrence of a Series 2007-A Pay Out Event, the Class A Notes shall accrue CP Costs with respect to the outstanding balance of the Class A Note Principal Balance of the Conduit Purchaser for each day that such amount is outstanding. The Class A Note Principal Balance funded with Pooled Commercial Paper will accrue CP Costs each day on a pro rata basis, based upon the percentage share that such amount represents in relation to all assets held by Conduit Purchaser and funded substantially with related Pooled Commercial Paper. On the Determination Date, the Conduit Purchaser shall calculate the aggregate amount of CP Costs allocated to its Class A Note Principal Balance for the applicable Due Period and shall notify the Servicer of such aggregate amount.
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Calculation of Monthly Interest. (a) Prior to the occurrence of a Series 2004-1 Pay Out Event, the Class A Notes shall accrue CP Costs with respect to the portion of the outstanding principal balance of the Class A Notes funded by the Conduit Purchasers for each day that such amount is outstanding. The outstanding principal balance of the Class A Notes funded with Pooled Commercial Paper will accrue CP Costs each day on a pro rata basis, based upon the percentage share that such amount represents in relation to all assets held by the applicable Conduit Purchaser and funded substantially with related Pooled Commercial Paper. On the Determination Date, each Conduit Purchaser shall calculate the aggregate amount of CP Costs allocated to its Class A Note for the applicable Due Period and shall notify the Servicer of such aggregate amount.
Calculation of Monthly Interest. (a) On or before the second ------------------------------- Business Day after the end of each Due Period, the Administrative Agent shall calculate for the related Distribution Date, the Monthly Interest payable on such Distribution Date and provide such calculation to the Servicer in writing. If any Funding Tranche begins to accrue interest at a Funding Rate other than the CP Rate after the date the Administrative Agent provides the Monthly Interest calculation for any Distribution Date, the Administrative Agent shall promptly provide the Servicer a calculation of the interest that will accrue on such Funding Tranche and be included in the definition of "Monthly Interest" for such Distribution Date. The parties acknowledge that the interest calculation set forth in clause (C) of the definition of "Monthly Interest" shall be an ---------- estimate. If the estimated accruals exceed the actual accruals, the Administrative Agent shall reimburse such excess. If the actual accruals exceed the estimated accruals, the Seller shall reimburse the Administrative Agent.
Calculation of Monthly Interest. (a) On or before the second Business Day after the end of each Due Period, each Managing Agent shall calculate for the related Distribution Date, the Monthly Interest payable on such Distribution Date with respect to each Funding Tranche related to its Purchaser Group and provide such calculation to the Administrative Agent who shall provide such calculation to the Servicer in writing. If any Funding Tranche begins to accrue interest at a Funding Rate other than a CP Rate after the date the Administrative Agent provides the Monthly Interest calculation for any Distribution Date, the applicable Managing Agent shall promptly provide the Administrative Agent a calculation of the interest that will accrue on such Funding Tranche and be included in the definition of “Monthly Interest” for such Distribution Date. The Administrative Agent shall promptly provide such calculation to the Servicer after receipt thereof. The parties acknowledge that the interest calculation set forth in clause (C) of the definition of “Monthly Interest” shall be an estimate. If the estimated accruals exceed the actual accruals, the applicable Managing Agent shall reimburse the Seller for such excess. If the actual accruals exceed the estimated accruals, the Seller shall remit such monies to the Administrative Agent for the account of the applicable Purchaser Group.
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