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

Calculations With Respect to Accrued Interest. Accrued interest, if any, on any Certificate shall be calculated based upon a 360-day year consisting of twelve 30-day months.

Appears in 2 contracts

Sources: Pooling and Servicing Agreement (Homebanc Corp), Pooling and Servicing Agreement (HomeBanc 2006-1)

Related Clauses

  • Distributions with Respect to Unexchanged Shares
  • Distributions with Respect to Unsurrendered Certificates
  • Obligations With Respect to Capital Stock
  • Obligations with Respect to Loan Parties
  • Obligations with Respect to Transfers and Exchanges of Notes

Parent Clauses

  • Definitions
  • Definitions and Interpretation
  • Annual Assessment of Compliance
  • Acts of Certificateholders
  • Termination   131

Sub-Clauses

  • Grant Clause
  • Acceptance of Trust Estate; Review of Documentation
  • Mortgage Loans
  • Name of Trust
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