Interest Accrual Basis definition

Interest Accrual Basis. The basis on which interest accrues in respect of any Mortgage Loan, any REMIC I Regular Interest, any REMIC II Regular Interest, any Regular Certificate or any particular REMIC III Component of a Class of Interest Only Certificates, in each case consisting of one of the following: (i) a 30/360 Basis; or (ii) an Actual/360 Basis.

Interest Accrual Basis. The basis on which interest accrues in respect of any Mortgage Loan, any REMIC I Regular Interest, any REMIC II Regular Interest, any Regular Certificate, any of the Class A-S, Class B and Class C Certificates, any of the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interest or any particular REMIC III Component of a Class of Interest Only Certificates, in each case consisting of one of the following: (i) a 30/360 Basis; or (ii) an Actual/360 Basis.

Interest Accrual Basis means the basis on which interest accrues in respect of any Mortgage Loan, any REO Mortgage Loan, any Loan REMIC Regular Interest, any REMIC I Regular Interest, any REMIC II Regular Interest, any Class of Regular Interest Certificates or any particular REMIC III Component of a Class of Interest-Only Certificates, in each case consisting of one of the following: (i) a 360-day year consisting of twelve 30-day months; (ii) actual number of days elapsed in a 360-day year; (iii) actual number of days elapsed in a 365-day year; or (iv) actual number of days elapsed in an actual calendar year (taking account of leap year).

Examples of Interest Accrual Basis in a sentence

• With respect to each Mortgage Loan and REO Mortgage Loan, the Certificate Administrator Fee shall be calculated on the same Interest Accrual Basis as is applicable to the accrual or deemed accrual of interest on such Mortgage Loan or REO Mortgage Loan, as the case may be.

• Interest will be calculated as described in the Interest Accrual Basis paragraph below.

• With respect to each Mortgage Loan and REO Mortgage Loan, the Trustee Fee and the Certificate Administrator Fee shall be calculated on the same Interest Accrual Basis as is applicable to the accrual or deemed accrual of interest on such Mortgage Loan or REO Mortgage Loan, as the case may be.

• With respect to Characteristic 30, we recomputed the Cut-Off Date Balance - Property Level, assuming, at your request, no prepayments of principal, using the First Payment Date, Interest Accrual Basis, Mortgage Rate, IO Period (if applicable), Property Level Monthly Debt Service Amount (as defined below), the Property Level Original Balance (as defined below) and the Cut-off Date.

• With respect to Characteristic 33, we recomputed the Balloon Payment, assuming, at your request, no prepayments of principal, using the First Payment Date, Interest Accrual Basis, Mortgage Rate, IO Period (if applicable), Maturity Date or Anticipated Repayment Date, Monthly Debt Service Amount and Original Balance.

More Definitions of Interest Accrual Basis

Interest Accrual Basis means the basis on which interest accrues in respect of any Loan, any Uncertificated Lower-Tier Interests or any Class of Regular Interest Certificates, in each case consisting of one of the following: (i) a 360-day year consisting of twelve 30-day months; (ii) actual number of days elapsed in a 360-day year; (iii) actual number of days elapsed in a 365-day year; or (iv) actual number of days elapsed in an actual calendar year (taking account of leap year).

Interest Accrual Basis means the basis on which interest accrues in respect of any Mortgage Loan, any REO Mortgage Loan, any REMIC I Regular Interest, any REMIC II Regular Interest, any Class of Regular Interest Certificates or any particular REMIC III Component of a Class of Interest-Only Certificates, in each case consisting of one of the following: (i) a 360-day year consisting of twelve 30-day months; (ii) actual number of days elapsed in a 360-day year; (iii) actual number of days elapsed in a 365-day year; or (iv) actual number of days elapsed in an actual calendar year (taking account of leap year).

Interest Accrual Basis means the basis on which interest accrues in respect of any Mortgage Loan, any Class of Regular Certificates or any Uncertificated Lower-Tier Interest, consisting of one of the following: (i) a 30/360 Basis; or (ii) an Actual/360 Basis.

Interest Accrual Basis means the basis on which interest accrues in respect of any Mortgage Loan, any REO Mortgage Loan, any Loan REMIC Regular Interest, any REMIC I Regular Interest, any REMIC II Regular Interest, any Class of Regular Interest Certificates, any Class of Floating Rate Certificates, any Group FL REMIC III Regular Interest or any Class X REMIC III Component, in each case consisting of one of the following: (i) a 360-day year consisting of twelve 30-day months; (ii) actual number of days elapsed in a 360-day year; (iii) actual number of days elapsed in a 365-day year; or (iv) actual number of days elapsed in an actual calendar year (taking account of leap year).

Interest Accrual Basis means the basis on which interest accrues in respect of any Mortgage Loan, any REMIC I Regular Interest, any REMIC II Regular Interest, any Class of Regular Interest Certificates or any particular Component of the Class X Certificates, in each case consisting of one of the following: (i) a 360-day year consisting of twelve 30-day months; (ii) actual number of days elapsed in a 360-day year; (iii) actual number of days elapsed in a 365-day year; or (iv) actual number of days elapsed in an actual calendar year (taking account of leap year).

Interest Accrual Basis. The basis on which interest accrues in respect of any Mortgage Loan, any REMIC I Regular Interest, any REMIC II Regular Interest, any Class of REMIC III Regular Certificates or any Class X REMIC III Regular Interest, in each case consisting of one of the following: (i) interest calculated based upon a 360-day year and accrued on the basis of twelve 30-day months; (ii) interest accrued for the actual number of days elapsed each month and calculated based upon a 360-day year; (iii) interest accrued for the actual number of days elapsed each month and calculated based upon a 365-day year; or (iv) interest accrued for the actual number of days elapsed each month and calculated based upon an actual calendar year (taking account of leap years).

Interest Accrual Basis means the basis on which interest accrues in respect of any Mortgage Loan, the Loan REMIC Regular Interest, any REMIC I Regular Interest, any REMIC II Regular Interest, any Group A-SP REMIC III Regular Interest, any Group A-X REMIC III Regular Interest or any Class of REMIC III Regular Interest Certificates, consisting of one of the following: (i) a 30/360 Basis; or (ii) an Actual/360 Basis.