ERD Fee definition
ERD Fee means, with respect to each Class of Series 2012-VF2 Notes and notwithstanding anything to the contrary set forth in the definition of “ERD Fee” set forth in the Base Indenture, on each Payment Date, the sum of (A) the product of (i) the applicable ERD Fee Rate for that Class, (ii) the average daily related VFN Principal Balance during the related Interest Accrual Period and (iii) a fraction, the numerator of which is the number of days elapsed from and including the preceding Payment Date to but excluding such current Payment Date and the denominator of which equals 360 plus (B) the sum for each day while a Eurodollar Disruption Event under clause (ii) of the definition thereof is continuing during the related Interest Accrual Period, in an amount equal to the product of (i) the excess, if any, of the Base Rate over One-Month LIBOR for each day on which such Eurodollar Disruption Event was in effect during such period, (ii) the related VFN Principal Balance on such date and (iii) a fraction, the numerator of which equals one (1) and the denominator of which equals 360. ”
ERD Fee. In the event that any Class of Notes issued on or after the Sixth Amendment Effective Date is not refinanced on the related Expected Repayment Date and for each Payment Date on or after such Expected Repayment Date, the product of (i) the ERD Fee Rate for that Class, (ii) the related Note Balance as of the close of business on the preceding Payment Date and (iii) a fraction, the numerator of which is the number of days elapsed from and including the preceding Payment Date (or, if later, the occurrence of such Event of Default) to but excluding such current Payment Date and the denominator of which equals 360.
ERD Fee means, with respect to each Class of Series 2013-T1 Notes and notwithstanding anything to the contrary set forth in the definition of “ERD Fee” set forth in the Base Indenture, in the event any such Class is not refinanced on the related Expected Repayment Date and for each Payment Date on or after such Expected Repayment Date, the product of (i) the ERD Fee Rate for that Class, (ii) the related Note Balance as of the close of business on the preceding Payment Date and (iii) a fraction, the numerator of which is the number of days elapsed from and including the preceding Payment Date (or, if later, the occurrence of such Event of Default) to but excluding such current Payment Date and the denominator of which equals 360.”
More Definitions of ERD Fee
ERD Fee. In the event that any Class of Notes is not refinanced on the related Expected Repayment Date and for each Payment Date on or after such Expected Repayment Date, the product of (i) the ERD Fee Rate for that Class, (ii) the related Note Balance as of the close of business on the preceding Payment Date and (iii) a fraction, the numerator of which is the number of days elapsed from and including the preceding Payment Date (or, if later, the occurrence of such Event of Default) to but excluding such current Payment Date and the denominator of which equals 360.