Noteholders’ Monthly Interest Distributable Amount means, with respect to any Distribution Date and any Class of Notes, interest accrued at the respective Interest Rate during the applicable Interest Period on the principal amount of the Notes of such Class outstanding as of the end of the prior Distribution Date (or, in the case of the first Distribution Date, as of the Closing Date), calculated (x) for the Class A-1 Notes on the basis of a 360-day year and the actual number of days elapsed in the applicable Interest Period and (y) for all other Classes of Notes on the basis of a 360-day year consisting of twelve 30-day months (without adjustment for the actual number of business days elapsed in the applicable Interest Period), except with respect to the first Interest Period.

Noteholders’ Monthly Interest Distributable Amount means, with respect to any Distribution Date, an amount equal to the aggregate amount of interest accrued on the Class A-1 Notes, the Class A-2a Notes, the Class A-2b Notes and the Class A-3 Notes at the Class A-1 Note Interest Rate, the Class A-2a Note Interest Rate and the Class A-2b Note Interest Rate, the Class A-3 Note Interest Rate, respectively, with respect to the Class A-1 Notes and the Class A-2b Notes, from and including the preceding Distribution Date (or, in the case of the initial Distribution Date, from and including the Closing Date), to but excluding such Distribution Date (based on a 360-day year and the actual number of days elapsed), and, with respect to the Class A-2a Notes and the Class A-3 Notes, from and including the 25th day of the month preceding such Distribution Date (or, in the case of the initial Distribution Date, from and including the Closing Date), to but excluding the 25th day of the month of such Distribution Date (in each case based on a 360-day year of twelve 30-day months).

Noteholders’ Monthly Interest Distributable Amount means, with respect to any Distribution Date and any Class of Notes, interest accrued during the applicable Interest Period on the principal amount of the Notes of each Class outstanding as of the end of the prior Distribution Date (or, in the case of the first Distribution Date, as of the Closing Date); provided, that if such principal balance is further reduced by a payment of principal on the Insured Distribution Date which immediately follows such prior Distribution Date, then such interest shall accrue (i) from and including such prior Distribution Date to, but excluding, such related Insured Distribution Date, on the principal balance outstanding as of the end of the prior Distribution Date (or, in the case of the first Distribution Date, as of the Closing Date) and (ii) from and including such Insured Distribution Date, to, but excluding, the following Distribution Date, on the principal balance outstanding as of the end of such Insured Distribution Date, calculated on the basis of a 360-day year and the actual number of days elapsed, in the case of the Class A-1 Notes, the Class A-2 Notes and the Class A-3 Notes and the Class A-4 Notes.

## Examples of *Noteholders’ Monthly Interest Distributable Amount* in a sentence

Such additional amounts shall not be included in the calculation of

**Noteholders’ Monthly Interest Distributable Amount**or in any other calculations derived therefrom.

## More Definitions of *Noteholders’ Monthly Interest Distributable Amount*

Noteholders’ Monthly Interest Distributable Amount means, with respect to any Distribution Date and any Class of Notes, interest accrued at the related Interest Rate during the applicable Interest Period on the principal amount of the Notes of such Class outstanding as of the end of the prior Distribution Date (or, in the case of the first Distribution Date, as of the Closing Date).

Noteholders’ Monthly Interest Distributable Amount means for each Class of Notes (i) for the first Payment Date, an amount equal to the product of (1) the Interest Rate for such Class of Notes, (2) the Original Class Note Balance for such Class of Notes, and (3) a fraction, the numerator of which is the number of days from and including the Closing Date to and including May 15, 2011, and the denominator of which is 360; and (ii) for any Payment Date after the first Payment Date, an amount equal to the product of (1) one-twelfth of the Interest Rate for such Class of Notes and (2) the Note Balance for such Class of Notes as of the close of the preceding Payment Date (after giving effect to all distributions on account of principal on such preceding Payment Date).

Noteholders’ Monthly Interest Distributable Amount means, for any Distribution Date for each class of Notes, one month's interest (or, in the case of the first Distribution Date, interest accrued from and including the Closing Date to but excluding such Distribution Date) at the related Interest Rate on the Outstanding Amount of the Notes of such class on such Distribution Date (or, in the case of the first Distribution Date, on the Closing Date). Interest for purposes of this definition (i) on the Class A-1 Notes shall be computed on the basis of a 360-day year for the actual number of days elapsed (which will be 25 days for the March 1999 Distribution Date for the Class A-1 Notes) and (ii) on the Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes shall be computed on the basis of a 360-day year of twelve 30-day months.

Noteholders’ Monthly Interest Distributable Amount means, with respect to any Monthly Payment Date, interest accrued for the related Interest Accrual Period on each Class of Notes at the respective Interest Rate for such Class on the outstanding principal balance of the Notes of such Class, which outstanding principal balance shall be calculated as of the immediately preceding Monthly Payment Date (or, in the case of the first Monthly Payment Date, as of the Closing Date), after giving effect to all payments in reduction of the aggregate principal amount of the Notes of such Class on or prior to such immediately preceding Monthly Payment Date.

Noteholders’ Monthly Interest Distributable Amount. With respect to each Distribution Date and Class of Notes, interest accrued during the related Accrual Period at the respective Note Interest Rate for such Class of Notes on the Class Principal Balance of such Class immediately preceding such Distribution Date (or, in the case of the first Distribution Date, on the Closing Date).

Noteholders’ Monthly Interest Distributable Amount means, for any Payment Date for each class of Notes, one month’s interest (or, in the case of the first Payment Date, interest accrued from and including the Closing Date to but excluding such Payment Date) at the related Interest Rate on the Outstanding Amount of the Notes of such class on such Payment Date (or, in the case of the first Payment Date, on the Closing Date). Interest for purposes of this definition shall be computed on the basis of a 360-day year of twelve 30-day months.

Noteholders’ Monthly Interest Distributable Amount means, with respect to any Distribution Date, the product of, (i) one-twelfth of the Interest Rate for each Class and (ii) the outstanding principal amount of the Notes of such Class immediately preceding such Distribution Date.