Common use of Simple Interest Clause in Contracts

Simple Interest. On each Determination Date, the Servicer shall determine the amount, if any, of any Simple Interest Shortfall or Simple Interest Excess for the related Collection Period. If the Servicer determines that there is a Simple Interest Shortfall for such related Collection Period, the Servicer shall make an advance (a "Simple Interest Advance") in the amount of such Simple Interest Shortfall and deposit such Simple Interest Advance into the Collection Account on or before the Business Day immediately preceding the next succeeding Payment Date. If, however, the Servicer determines that there is a Simple Interest Excess for such Collection Period, the Trust Collateral Agent shall withdraw the amount of such Simple Interest Excess from the Collection Account on the next Payment Date and pay the amount of such Simple Interest Excess to the Servicer as additional servicing compensation. Notwithstanding the immediately preceding sentence, to the extent that the aggregate amount of Simple Interest Advances made by the Servicer with respect to all prior Collection Periods does not exceed the aggregate amount of all Simple Interest Excesses with respect to such prior Collection Periods, such excess shall be deposited pursuant to Section 5.6(b) into the Spread Account and shall be treated as a contribution to the Spread Account by the Servicer for the benefit of the Certificateholder for federal income tax purposes. All references in this Section 5.12 to the Servicer shall be deemed to refer to the Servicer only so long as LBAC is acting in such capacity hereunder.

Simple Interest. On each Determination Date, the Servicer shall determine the amount, if any, of any Simple Interest Shortfall or Simple Interest Excess for the related Collection Period. If the Servicer determines that there is a Simple Interest Shortfall for such related Collection Period, the Servicer shall make an advance (a "Simple Interest Advance") in the amount of such Simple Interest Shortfall and deposit such Simple Interest Advance into the Collection Account on or before the Business Day immediately preceding the next succeeding Payment Date. If, however, the Servicer determines that there is a Simple Interest Excess for such Collection Period, the Trust Collateral Agent shall withdraw the amount of such Simple Interest Excess from the Collection Account on the next Payment Date and pay the amount of such Simple Interest Excess to the Servicer as additional servicing compensation. [Notwithstanding the immediately preceding sentence, to the extent that the aggregate amount of Simple Interest Advances made by the Servicer with respect to all prior Collection Periods does not exceed the aggregate amount of all Simple Interest Excesses with respect to such prior Collection Periods, such excess shall be deposited pursuant to Section 5.6(b) into the Spread Account and shall be treated as a contribution to the Spread Account by the Servicer for the benefit of the Certificateholder for federal income tax purposes. .] All references in this Section 5.12 to the Servicer shall be deemed to refer to the Servicer only so long as LBAC is acting in such capacity hereunder.

Simple Interest. On each Determination Date, the Servicer shall determine the amount, if any, of any Simple Interest Shortfall or Simple Interest Excess for the related Collection Period. If the Servicer determines that there is a Simple Interest Shortfall for such related Collection Period, the Servicer shall make an advance (a "Simple Interest Advance") in the amount of such Simple Interest Shortfall and deposit such Simple Interest Advance into the Collection Account on or before the Business Day immediately preceding the next succeeding Payment Date. If, however, the Servicer determines that there is a Simple Interest Excess for such Collection Period, the Trust Collateral Agent ______________ shall withdraw the amount of such Simple Interest Excess from the Collection Account on the next Payment Date and pay the amount of such Simple Interest Excess to the Servicer as additional servicing compensation. [Notwithstanding the immediately preceding sentence, to the extent that the aggregate amount of Simple Interest Advances made by the Servicer with respect to all prior Collection Periods does not exceed the aggregate amount of all Simple Interest Excesses with respect to such prior Collection Periods, such excess shall be deposited pursuant to Section 5.6(b) into the Spread Account and shall be treated as a contribution to the Spread Account by the Servicer for the benefit of the Certificateholder for federal income tax purposes. .] All references in this Section 5.12 to the Servicer shall be deemed to refer to the Servicer only so long as LBAC Triad Corp is acting in such capacity hereunder.