Examples of Interest Accrual Period in a sentence
The Interest Rates for the LIBOR Floating Rate Classes for each Interest Accrual Period shall be determined by Xxxxxx Xxx or the Paying Agent on the Index Determination Date in the month following the month in which the Settlement Date occurs and on each Index Determination Date thereafter so long as the LIBOR Floating Rate Classes are outstanding on the basis of LIBOR and the applicable formulae specified in the Prospectus Supplement or the Lower Tier Schedule, as the case may be.
Interest accrued on each Lower Tier Accrual Class during each Interest Accrual Period shall not be distributed thereon as interest but shall instead be added to the Class Balance thereof on the related Distribution Date.
Except as provided below in the case of the Accrual Classes, interest on each Class of interest-bearing Trust Fund Certificates for the related Interest Accrual Period at the applicable Interest Rate shall be distributed on each applicable Distribution Date.
Interest accrued with respect to each Accrual Class during any Interest Accrual Period shall not be distributed thereon as interest but instead shall be added to the Class Balance thereof on the related Distribution Date.
Interest accrued on each Class of Lower Tier Regular Classes for the related Interest Accrual Period at the applicable Interest Rate shall be distributed on each applicable Distribution Date, except as specified below in the case of the Lower Tier Accrual Classes.