Common use of Determination of Monthly Interest for the Series Clause in Contracts

Determination of Monthly Interest for the Series. 1998-7 Certificates. (a) The amount of monthly interest (for the Series 1998-7 -------------------- Certificates, the "Class A Monthly Interest") distributable from the ------ - ------- --------- Distribution Account with respect to the Class A Certificates on any Distribution Date shall be an amount equal to the product of (i) the product of (x) the Class A Certificate Rate and (y) a fraction the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360 and (ii) the Class A Outstanding Principal Balance as of the close of business on the last day of the preceding Monthly Period; provided, however, -------- ------- that with respect to the first Distribution Date, Class A Monthly Interest shall be equal to the product of (a) the Class A Certificate Rate for the period from and including the Closing Date to and including October 18, 1998, (b) a fraction the numerator of which is 32 and the denominator of which is 360 and (c) the Class A Initial Invested Amount. On the Determination Date preceding each Distribution Date, the Servicer shall determine an amount (the "Class A Interest Shortfall") equal ------ - -------- ---------- to the excess, if any, of (x) the aggregate Class A Monthly Interest for the Interest Period applicable to the preceding Distribution Date over (y) the amount which was paid to the Class A Certificateholders in respect of interest on such preceding Distribution Date. If there is a Class A Interest Shortfall with respect to any Distribution Date, an additional amount ("Class A Default ------ - ------- Interest") shall be payable as provided herein with respect to the Class A Cer- ---------

Determination of Monthly Interest for the Series. 19981999-7 1 Certificates. (a) The amount of monthly interest (for the Series 19981999-7 -------------------- 1 ------------------- Certificates, the "Class A Monthly Interest") distributable from the ------ - ------- --------- ------------------------ Distribution Account with respect to the Class A Certificates on any Distribution Date shall be an amount equal to the product of (i) the product of (x) the Class A Certificate Rate and (y) a fraction the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360 and (ii) the Class A Outstanding Principal Balance as of the close of business on the last day of the preceding Monthly Period; provided, however, -------- ------- that with respect to the first Distribution Date, Class A Monthly Interest shall be equal to the product of (a) the Class A Certificate Rate for the period from and including the Closing Date to and including October 18Marcx 00, 19980000, (bx) a fraction x xraction the numerator of which is 32 23 and the denominator of which is 360 360, and (c) the Class A Initial Invested Amount. On the Determination Date preceding each Distribution Date, the Servicer shall determine an amount (the "Class A Interest Shortfall") equal ------ - -------- ---------- -------------------------- to the excess, if any, of (x) the aggregate Class A Monthly Interest for the Interest Period applicable to the preceding Distribution Date over (y) the ---- amount which was paid to the Class A Certificateholders in respect of interest on such preceding Distribution Date. If there is a Class A Interest Shortfall with respect to any Distribution Date, an additional amount ("Class A Default ------ - ------- --------------- Interest") shall be payable pay able as provided herein with respect to the Class A Cer- ----------------- Certificates on each Distribution Date following such Distribution Date to and including the Distribution Date on which such Class A Interest Shortfall is paid to Class A Certificateholders equal to the product of (i) the product 41 of (x) the Class A Certificate Rate plus 2.00% per annum and (y) a fraction the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360 and (ii) such Class A Interest Shortfall. Notwithstanding anything to the contrary herein, Class A Default Interest shall be payable or distributed to Class A Certificateholders only to the extent permitted by applicable law.

Determination of Monthly Interest for the Series. 19981996-7 ------------------------------------------------------- Certificates. (a) The amount of monthly interest (for the Series 19981996-7 -------------------- ------------ Certificates, the "Class A Monthly Interest") distributable from the ------ - ------- --------- A/B ------------------------ Distribution Account with respect to the Class A Certificates on any Distribution Date shall be an amount equal to the product of (i) the product of (x) the Class A Certificate Rate and (y) a fraction the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360 and (ii) the Class A Outstanding Principal Balance as of the close of business on the last day of the preceding Monthly Period; provided, however, -------- ------- that with respect to the first Distribution Date, Class A Monthly Interest shall be equal to the product of (i) the product of (a) the Class A Certificate Rate for the period from and including the Closing Date December 11, 1996 to and including October 18January 9, 1998, 1997 and (b) a fraction the numerator of which is 32 30 and the denominator of which is 360 and (cii) the Class A Initial Invested Amount. On the Determination Date preceding each Distribution Date, the Servicer shall determine an amount (the "Class A Interest Shortfall") equal ------ - -------- ---------- to -------------------------- the excess, if any, of (x) the aggregate Class A Monthly Interest for the Interest Period applicable to the preceding Distribution Date over (y) the ---- amount which was paid to the Class A Certificateholders in respect of interest on such preceding Distribution Date. If there is a Class A Interest Shortfall with respect to any Distribution Date, an additional amount ("Class A Default ------ - ------- --------------- Interest") shall be payable as provided herein with respect to the Class A Cer- ----------------- Certificates on each Distribution Date following such Distribution Date to and including the Distribution Date on which such Class A Interest Shortfall is paid to Class A Certificateholders equal to the product of (i) the product of (x) the Class A Certificate Rate plus 2.00% per annum and (y) a fraction the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360 and (ii) such Class A Interest Shortfall. Notwithstanding anything to the contrary herein, Class A Default Interest shall be payable or distributed to Class A Certificateholders only to the extent permitted by applicable law.

Determination of Monthly Interest for the Series. 1998-7 2 ------------------------------------------------------- Certificates. (a) The amount of monthly interest (for the Series 1998-7 -------------------- 2 ------------ Certificates, the "Class A Monthly Interest") distributable from the ------ - ------- --------- A/B ------------------------ Distribution Account with respect to the Class A Certificates on any Distribution Date shall be an amount equal to the product of (i) the product of (x) the Class A Certificate Rate and (y) a fraction the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360 and (ii) the Class A Outstanding Principal Balance as of the close of business on the last day of the preceding Monthly Period; provided, -------- however, -------- ------- that with respect to the first Distribution Date, Class A Monthly ------- Interest shall be equal to the product of (a) the Class A Certificate Rate for the period from and including the Closing Date to and including October 18June 17, 1998, (b) a fraction the numerator of which is 32 28 and the denominator of which is 360 and (c) the Class A Initial Invested Amount. On the Determination Date preceding each Distribution Date, the Servicer shall determine an amount (the "Class A Interest Shortfall") equal ------ - -------- ---------- to -------------------------- the excess, if any, of (x) the aggregate Class A Monthly Interest for the Interest Period applicable to the preceding Distribution Date over (y) the ---- amount which was paid to the Class A Certificateholders in respect of interest on such preceding Distribution Date. If there is a Class A Interest Shortfall with respect to any Distribution Date, an additional amount ("Class A Default ------ - ------- --------------- Interest") shall be payable as provided herein with respect to the Class A Cer- ----------------- Certificates on each Distribution Date following such Distribution Date to and including the Distribution Date on which such Class A Interest Shortfall is paid to Class A Certificateholders equal to the product of (i) the product of (x) the Class A Certificate Rate plus 2.00% per annum and (y) a fraction the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360 and (ii) such Class A Interest Shortfall. Notwithstanding anything to the contrary herein, Class A Default Interest shall be payable or distributed to Class A Certificateholders only to the extent permitted by applicable law.