Common use of Monthly Interest Clause in Contracts

Monthly Interest. (a) The amount of interest accrued on the outstanding principal balance during an Interest Period with respect to the Class A Notes (the "Class A Monthly Interest") shall be an amount equal to the product of (i) the Class A Note Rate, (ii) the outstanding principal balance of the Class A Notes as of the close of business on the preceding Payment Date (after giving effect to all repayments of principal made to Class A Noteholders on such preceding Payment Date, if any) and (iii) a fraction, the numerator of which is the actual number of days elapsed in such Interest Period and the denominator of which is 360.

Monthly Interest. (a) The amount of interest accrued on the outstanding principal balance during an Interest Period with respect to the Class A Notes (the "Class A ------- Monthly Interest") shall be an amount equal to the product of (i) the Class A ---------------- Note Rate, (ii) the outstanding principal balance of the Class A Notes as of the close of business on the preceding Payment Date (after giving effect to all repayments of principal made to Class A Noteholders on such preceding Payment Date, if any) and (iii) a fraction, the numerator of which is the actual number of days elapsed in such Interest Period and the denominator of which is 360.

Monthly Interest. (a) The amount of interest accrued on the outstanding principal balance during an Interest Period with respect to the Class A Notes (the "Class A Monthly Interest") shall be an amount equal to the product of (i) the Class A Note Rate, (ii) the outstanding principal balance of the Class A Notes as of the close of business on the preceding Payment Date (after giving effect to all repayments of principal made to Class A Noteholders on such preceding Payment Date, if any) and (iii) a fraction, the numerator of which is [the actual number of days elapsed in such Interest Period Period] [30] and the denominator of which is [360].