December (iv) When New Years Day or Australia Day is a Saturday or Sunday, a holiday in lieu thereof shall be observed on the next Monday.
Payment Dates Interest accrued on each Loan shall be payable, without duplication:
Variable Accumulation Period The Controlled Accumulation Period is scheduled to commence on the Stated Controlled Accumulation Period Commencement Date; provided, however, that if the Controlled Accumulation Period Length (determined as described below) on any Determination Date is different from the Initial Scheduled Controlled Accumulation Period Length, the Servicer, at its option on any Determination Date prior to the commencement of the Controlled Accumulation Period, may elect to modify the date on which the Controlled Accumulation Period actually commences to the last Business Day of any Due Period that precedes the Due Period that is the number of Due Periods prior to the Expected Final Payment Date equal to the Controlled Accumulation Period Length. Such election will be set forth in the Monthly Servicer Certificate. If the Servicer elects to modify the date on which the Controlled Accumulation Period commences pursuant to this Section 19, then on each Determination Date thereafter until the date on which the Controlled Accumulation Period commences the Servicer will recalculate the Controlled Accumulation Period Length; provided, however, that (i) the length of the Controlled Accumulation Period will not be less than the Minimum Controlled Accumulation Period Length and (ii) notwithstanding any other provision of this Series Supplement to the contrary, no election to postpone the commencement of the Controlled Accumulation Period shall be made after a Rapid Amortization Event (as described herein or in the applicable Series Supplement) shall have occurred for so long as it is continuing with respect to any Series in the Group to which the Series established hereby belongs. On each Determination Date, the Servicer will determine the "Controlled Accumulation Period Length" that will equal the number of Due Periods such that the Class Controlled Accumulation Amount for the Due Period related to the Class Expected Final Payment Date, when aggregated with the Class Controlled Accumulation Amounts for each preceding Due Period, will equal or exceed the Series Initial Investor Interest. Any notice by the Servicer electing to modify the commencement of the Controlled Accumulation Period pursuant to this Section 19 shall specify the following as determined on such Determination Date: (i) the Controlled Accumulation Period Length; (ii) the commencement date of the Controlled Accumulation Period; and (iii) the Class Controlled Accumulation Amount with respect to each class of such Series with respect to each Due Period. If the Controlled Accumulation Period Length as recalculated on any such Determination Date exceeds the number of full Due Periods following such Determination Date and preceding the Class A Expected Final Payment Date, the commencement date of the Controlled Accumulation Period will be such Determination Date.
Quarterly As of the last day of each Fiscal Quarter.
Distribution Date 13 DTC...........................................................................................13
360-Day Year Interest shall be computed on the basis of a 360-day year for the actual number of days elapsed.
Payment Period Whenever a payment under this Agreement specifies a payment period with reference to a number of days (e.g., “payment shall be made within forty (40) days following the date of termination), the actual date of payment within the specified period shall be within the sole discretion of the Company.
Measurement Period (b) In this Agreement, unless the contrary intention appears, a reference to:
TWELFTH This Agreement shall become effective as of the date hereof, shall continue in force and effect until June 30, 1999, and shall continue in force and effect from year to year thereafter, provided, that such continuance is specifically approved at least annually (a)(I) by the Board of Trustees of the Company or (ii) by the vote of a majority of the Portfolios' outstanding voting securities (as defined in Section 2(a)(42) of the 1940 Act), and (b) by vote of a majority of the Company's trustees who are not parties to this Agreement or "interested persons" (as defined in Section 2(a)(19) of the 1940 Xxx) xx any party to this Agreement cast in person at a meeting called for such purpose.