Common use of Calculations With Respect to Accrued Interest Clause in Contracts

Calculations With Respect to Accrued Interest. All calculations of interest described herein with respect to any Class of Certificates, other than Class I-C-1 Certificates and the Class II-C Certificates, and the REMIC III Regular Interests (other than the Class I-C-1 REMIC III Regular Interest) and the REMIC A3 Regular Interests (other than the Class II-C REMIC A3 Regular Interest), shall be made on the basis of an assumed 360-day year and the actual number of days in the related Accrual Period. The Class I-C-1 Certificates and the Class II-C Certificates, the Class I-C-1 REMIC III Regular Interest, the Class II-C REMIC A3 Regular Interests, the REMIC Regular Interests (other than the REMIC III Regular Interests and the REMIC A3 Regular Interests) shall accrue interest on the basis of an assumed 360-day year consisting of twelve 30-day months.

Appears in 1 contract

Sources: Pooling Agreement (Luminent Mortgage Trust 2007-1)

Calculations With Respect to Accrued Interest. All calculations of interest described herein with respect to any Class of Certificates, Certificates (other than Class I-C-1 Certificates and the Class II-C Certificates), and the REMIC III Regular Interests (other than the Class I-C-1 REMIC III Regular Interest) and the REMIC A3 Regular Interests (other than the Class II-C REMIC A3 Regular Interest), shall be made on the basis of an assumed 360-day year and the actual number of days in the related Accrual Period. The Class I-C-1 Certificates and the Class II-C Certificates, the Class I-C-1 REMIC III Regular Interest, the Class II-C REMIC A3 Regular Interests, the REMIC Regular Interests (other than the REMIC III Regular Interests and the REMIC A3 Regular Interests) shall accrue interest on the basis of an assumed 360-day year consisting of twelve 30-day months.

Appears in 1 contract

Sources: Pooling Agreement (Luminent Mortgage Trust 2007-2)

Calculations With Respect to Accrued Interest. All calculations of interest described herein with respect to any Class of Certificates, other than Class I-C-1 Certificates and the Class II-C Certificates, and the REMIC III Regular Interests (other than the Class I-C-1 REMIC III Regular Interest) and the REMIC A3 XII Regular Interests (other than the Class II-C REMIC A3 XII Regular Interest), shall be made on the basis of an assumed 360-day year and the actual number of days in the related Accrual Period. The Class I-C-1 Certificates and the Class II-C Certificates, the Class I-C-1 REMIC III Regular Interest, the Class II-C REMIC A3 XII Regular Interests, the REMIC Regular Interests (other than the REMIC III Regular Interests and the REMIC A3 XII Regular Interests) shall accrue interest on the basis of an assumed 360-day year consisting of twelve 30-day months.

Appears in 1 contract

Sources: Pooling Agreement (Luminent Mortgage Trust 2006-7)