Common use of Calculation of the Note Rate Clause in Contracts

Calculation of the Note Rate. With respect to the Class A-3 Notes, on the second LIBOR Business Day immediately preceding each Distribution Date (or as of the second LIBOR Business Day prior to the Closing Date, in the case of the first Distribution Date), the Indenture Trustee shall determine One-Month LIBOR for the Interest Period commencing on such Distribution Date and inform the Servicer (at the facsimile number given to the Indenture Trustee in writing) of such rates. On the second LIBOR Business Day prior to each Distribution Date, the Indenture Trustee shall determine the applicable Note Rate for the related Distribution Date.