Interest Accrual Period definition
Examples of Interest Accrual Period in a sentence
The Class B Notes and the Class C Notes will not bear an interest rate, and will not accrue interest during any Interest Accrual Period, and therefore, no interest will be payable with respect to such Notes.
Interest on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the Interest Accrual Period relating to such Distribution Date at the Pass-Through Rate specified above on the Certificate Balance or Notional Amount, as applicable, of this Certificate immediately prior to each Distribution Date.
On the Closing Date, Borrower shall pay interest from and including the Closing Date through the end of the first Interest Accrual Period in lieu of making such payment on the first Payment Date following the Closing Date.
All interest payable hereunder shall be computed on the basis of a 360-day year and the actual number of days in the related Interest Accrual Period.
Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year.