Interest Calculations. Monthly interest calculations for periods of a full month must be based on a 30-day month and a 360-day year. Factors used for such calculations should be carried to a minimum of three decimal places. The dollar amount of any interest payment shall be carried out to a minimum of three decimal places. Interest calculations for a period of less than a full month must be based on a 365-day year.
Appears in 77 contracts
Samples: Servicing Agreement (Wells Fargo Asset Securities Corp), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-Ar15 Trust), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-15 Trust)
Interest Calculations. Monthly interest calculations for periods of a full month must be based on a 30-day month and a 360-day year. Factors used for such calculations should be carried to a minimum of three decimal places. The dollar amount of any interest payment shall be carried out to a minimum of three decimal places, if permitted by the Note or by the law. Interest calculations for a period periods of less than a full month (such as for a Liquidation) must be based calculated on the basis of actual days elapsed in a month and a 365-day yearyear unless otherwise provided by applicable federal or state law.
Appears in 3 contracts
Samples: Loan Servicing Agreement (Preferred Credit Corp), Loan Servicing Agreement (Realtrust Asset Corp), Loan Servicing Agreement (Preferred Credit Corp)
Interest Calculations. Monthly interest calculations for periods of a full month must will be based on a 30-day month and a 360-day year, if permitted by the Note or by law. Factors used for such calculations should will be carried to a minimum of three decimal places. The dollar amount of any interest payment shall be carried out to a minimum of three ten decimal places. Interest calculations for a period periods of less than a full month must (such as for a Liquidation) will be based calculated on the basis of actual days elapsed in a 365month and a 360-day yearyear unless otherwise provided by applicable federal or state law.
Appears in 2 contracts
Samples: Sale and Master Servicing Agreement (Painewebber Mort Acce Corp Iv Fremont Home Ln Own Tr 1999-2), Sale and Master Servicing Agreement (Painewebber Mort Acce Corp Iv Fremont Home Ln Own Tr 1999-1)
Interest Calculations. Monthly interest calculations for periods of a full month must be based on a 30-day month and a 360300-day year. Factors used for such calculations should be carried to a minimum of three decimal places. The dollar amount of any interest payment shall be carried out to a minimum of three decimal places, if permitted by the Note or by the law. Interest calculations for a period periods of less than a full month (such as for a Liquidation) must be based calculated on the basis of actual days elapsed in a month and a 365-day yearyear unless otherwise provided by applicable federal or state law.
Appears in 1 contract
Samples: Loan Servicing Agreement (New Century Financial Corp)
