Yield. With respect to each Lender and its portion of the Capital, with respect to any Accrual Period, the sum of the products (for each day during such Accrual Period) of: YR x C x 1 360 where: C = the outstanding principal amount of the Advance of such Lender; and YR = the Yield Rate for such Lender applicable on such day; provided, however, that (i) no provision of this Agreement shall require the payment or permit the collection of Yield in excess of the maximum permitted by Applicable Law and (ii) Yield shall not be considered paid by any distribution if at any time such distribution is rescinded or must otherwise be returned for any reason.
Appears in 3 contracts
Samples: Loan and Security Agreement (Credit Acceptance Corp), Loan and Security Agreement (Credit Acceptance Corp), Loan and Security Agreement (Credit Acceptance Corporation)
Yield. With respect to each Lender and its portion of the Capital, with respect to any Accrual Period, the sum of the products (for each day during such Accrual Period) of: YR x C x 1 --- 360 where: C = the outstanding principal amount of the Advance of such Lender; and YR = the Yield Rate for such Lender applicable on such day; provided, however, that (i) no provision of this Agreement shall require the payment or permit the collection of Yield in excess of the maximum permitted by Applicable Law and (ii) Yield shall not be considered paid by any distribution if at any time such distribution is rescinded or must otherwise be returned for any reason.
Appears in 1 contract
Samples: Loan and Security Agreement (Credit Acceptance Corporation)
Yield. With respect to each Lender and its portion of the Capital, with respect to any Accrual Period, the sum of the products (for each day during such Accrual Period) of: YR x C x 1 360 where: C = the outstanding principal amount of the Advance Capital of such Lender; and YR = the Yield Rate for such Lender applicable on such day; provided, however, that (i) no provision of this Agreement shall require the payment or permit the collection of Yield in excess of the maximum permitted by Applicable Law and (ii) Yield shall not be considered paid by any distribution if at any time such distribution is rescinded or must otherwise be returned for any reason.
Appears in 1 contract
Samples: Loan and Security Agreement (Credit Acceptance Corp)