Common use of Calculations of Interest Clause in Contracts

Calculations of Interest. All calculations of interest made hereunder shall be made, with respect to the Class A-1 Notes, on the basis of a year of 360 days and the actual number of days elapsed and with respect to the Class A-2 Notes, the Class A-3 Notes and the Class B Notes, on the basis of a year of 360 days of twelve 30-day months.

Appears in 3 contracts

Samples: Caterpillar Financial Funding Corp, Caterpillar Financial Funding Corp, Caterpillar Financial Funding Corp

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Calculations of Interest. All calculations of interest made hereunder on the Class A-1, Class A-2, Class M and Class B Notes shall be made, with respect to the Class A-1 Notes, made on the basis of a year of 360 days and the actual number of days elapsed in the Accrual Period and with respect a year assumed to consist of 360 days. All calculations of interest on the Class A-2 Notes, the Class A-3 A-IO Notes and the Class B Notes, shall be made on the basis of the thirty days in the Accrual Period and a year assumed to consist of 360 days days. All dollar amounts calculated hereunder shall be rounded to the nearest xxxxx with one-half of twelve 30-day monthsone xxxxx being rounded up.

Appears in 1 contract

Samples: Indenture (CSFB Acceptance Corp Home Equity Loan Back Notes Ser 2003-A)

Calculations of Interest. All calculations of interest made hereunder shall be made, with respect to the Class A-1 Notes, on the basis of a year of 360 days and the actual number of days elapsed and with respect to the Class A-2 Notes, the Class A-3 Notes and the Class B Notes, made on the basis of a year of 360 days of twelve 30-day months, other than the calculation of interest accrued on the Class A-1 Notes at the Class A-1 Interest Rate, which will be calculated on the basis of a 360-day year based upon the actual number of days elapsed [which will be __ days for the __ Distribution Date for the Class A-1 Notes].

Appears in 1 contract

Samples: Form of Indenture (Chase Manhattan Bank Usa)

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Calculations of Interest. All calculations of interest made hereunder shall be made, with respect to the Class A-1 Notes, on the basis of a year of 360 days and the actual number of days elapsed and with respect to the Class A-2 Notes, the Class A-3 Notes and the Class B Notes, made on the basis of a year of 360 days of twelve 30-day months, other than the calculation of interest accrued on the Class A-1 Notes at the Class A-1 Interest Rate, which will be calculated on the basis of a 360-day year based upon the actual number of days elapsed which will be 25 days for the March 1999 Distribution Date for the Class A-1 Notes.

Appears in 1 contract

Samples: Chase Manhattan Bank Usa

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