Common use of Partial Month Interest Clause in Contracts

Partial Month Interest. Notwithstanding anything to the contrary in this Section, if a Fixed Facility Advance is not made on the first day of a calendar month, and the MBS Issue Date for the MBS backed by the Fixed Facility Advance is the first day of the month following the month in which the Fixed Facility Advance is made, the Borrower shall pay interest on the original stated principal amount of the Fixed Facility Advance for the partial month period commencing on the Closing Date for the Fixed Facility Advance and ending on the last day of the calendar month in which the Closing Date occurs at a rate, per annum, equal to the greater of (i) the interest rate for the Fixed Facility Advance described in the first sentence of this Section and (ii) a rate determined by the Lender, based on the Lender’s cost of funds, and approved in advance, in writing, by the Borrower, pursuant to procedures mutually agreed upon by the Borrower and the Lender.

Partial Month Interest. Notwithstanding anything to the contrary in this Section, if a Fixed Facility Revolving Advance is not made on the first day of a calendar month, and the MBS Issue Date for the MBS backed by the Fixed Facility Revolving Advance is the first day of the month following the month in which the Fixed Facility Revolving Advance is made, the Borrower shall pay interest on the original stated principal amount of the Fixed Facility Revolving Advance for the partial month period commencing on the Closing Date for the Fixed Facility Revolving Advance and ending on the last day of the calendar month in which the Closing Date occurs occurs, at a rate, rate per annum, annum equal to the greater of (i) the interest rate Coupon Rate for the Fixed Facility Revolving Advance described as determined in the first sentence of this accordance with Section 2.05(b) and (ii) a rate reasonably determined by the Lender, based on the Lender’s cost of funds, funds and approved in advance, in writing, by the Borrower, pursuant to the procedures mutually agreed upon by the Borrower and the Lender.

Partial Month Interest. Notwithstanding anything to the contrary in this Section, if a Fixed Base Facility Advance is not made on the first day of a calendar month, and the MBS Issue Date for the MBS backed by the Fixed Base Facility Advance is the first day of the month following the month in which the Fixed Base Facility Advance is made, the Borrower shall pay interest on the original stated principal amount of the Fixed Base Facility Advance for the partial month period commencing on the Closing Date for the Fixed Base Facility Advance and ending on the last day of the calendar month in which the Closing Date occurs at a rate, per annum, equal to the greater of (i) the interest rate for the Fixed Base Facility Advance described in the first sentence of this Section and (ii) a rate reasonably determined by the Lender, based on the Lender’s cost of funds, and approved in advance, in writing, by the Borrower, pursuant to procedures mutually agreed upon by the Borrower and the Lender.

Partial Month Interest. Notwithstanding anything to the contrary ---------------------- in this Section, if a Fixed Base Facility Advance is not made on the first day of a calendar month, and the MBS Issue Date for the MBS backed by the Fixed Base Facility Advance is the first day of the month following the month in which the Fixed Base Facility Advance is made, the Borrower shall pay interest on the original stated principal amount of the Fixed Base Facility Advance for the partial month period commencing on the Closing Date for the Fixed Base Facility Advance and ending on the last day of the calendar month in which the Closing Date occurs at a rate, per annum, equal to the greater of (i) the interest rate for the Fixed Base Facility Advance described in the first sentence of this Section and (ii) a rate reasonably determined by the Lender, based on the Lender’s 's cost of funds, and approved in advance, in writing, by the Borrower, pursuant to procedures mutually agreed upon by the Borrower and the Lender.

Partial Month Interest. Notwithstanding anything to the contrary ---------------------- in this Section, if a Fixed Facility Revolving Advance is not made on the first day of a calendar month, and the MBS Issue Date for the MBS backed by the Fixed Facility Revolving Advance is the first day of the month following the month in which the Fixed Facility Revolving Advance is made, the Borrower shall pay interest on the original stated principal amount of the Fixed Facility Revolving Advance for the partial month period commencing on the Closing Date for the Fixed Facility Revolving Advance and ending on the last day of the calendar month in which the Closing Date occurs occurs, at a rate, rate per annum, annum equal to the greater of (i) the interest rate Coupon Rate for the Fixed Facility Revolving Advance described as determined in the first sentence of this accordance with Section 2.05(b) and (ii) a rate reasonably determined by the Lender, based on the Lender’s 's cost of funds, funds and approved in advance, in writing, by the Borrower, pursuant to the procedures mutually agreed upon by the Borrower and the Lender.

Partial Month Interest. Notwithstanding anything to the ---------------------- contrary in this Section, if a Fixed Facility Revolving Advance is not made on the first day of a calendar month, and the MBS Issue Date for the MBS backed by the Fixed Facility Revolving Advance is the first day of the month following the month in which the Fixed Facility Revolving Advance is made, the Borrower shall pay interest on the original stated principal amount of the Fixed Facility Revolving Advance for the partial month period commencing on the Closing Date for the Fixed Facility Revolving Advance and ending on the last day of the calendar month in which the Closing Date occurs occurs, at a rate, rate per annum, annum equal to the greater of (i) the interest rate Coupon Rate for the Fixed Facility Revolving Advance described as determined in the first sentence of this accordance with Section 2.05(b) and (ii) a rate reasonably determined by the Lender, based on the Lender’s 's cost of funds, funds and approved in advance, in writing, by the Borrower, pursuant to the procedures mutually agreed upon by the Borrower and the Lender.

Partial Month Interest. Notwithstanding anything to the contrary in this Section, if a Fixed Facility Advance is not made on the first day of a calendar month, and the MBS Issue Date for the MBS backed by the Fixed Facility Advance is the first day of the month following the month in which the Fixed Facility Advance is made, the Borrower shall pay interest on the original stated principal amount of the Fixed Facility Advance for the partial month period commencing on the Closing Date for the Fixed Facility Advance and ending on the last day of the calendar month in which the Closing Date occurs at a rate, per annum, equal to the greater of (i) the interest rate for the Fixed Facility Advance described in the first sentence of this Section and (ii) a rate determined by the Lender, based on the Lender’s 's cost of funds, and approved in advance, in writing, by the Borrower, pursuant to procedures mutually agreed upon by the Borrower and the Lender.