Common use of Interest; Additional Amounts Clause in Contracts

Interest; Additional Amounts. (a) Subject to Section 4.1 of the Class A Certificate Purchase Agreement, Transferor may from time to time allocate the outstanding principal amount under the Class A Certificates to one ABR Tranche and up to three Eurodollar Tranches (although the total number of tranches may not exceed three at any one time). Interest on each Tranche shall be payable on the Interest Payment Date applicable to such Tranche. (b) Interest on a Eurodollar Tranche of the Class A Certificates shall accrue during any Interest Period at a rate per annum equal to LIBOR plus the applicable Class A Certificate Spread and shall be calculated on the basis of actual days over a year of 360 days. (c) Interest on an ABR Tranche of the Class A Certificates shall accrue during any Interest Period at the Alternate Base Rate in effect from time to time plus the applicable Class A Certificate Spread and shall be calculated on the basis of actual days over a year of 360 days. (d) Interest on the Class B Certificates shall accrue during any Distribution Period at a rate per annum equal to LIBOR plus the Class B Certificate Spread and shall be calculated on the basis of actual days over a year of 360 days. (e) Interest with respect to the Series 1996-1 Certificates due but not paid on any Distribution Date or the last day of an Interest Period, as the case may be, will be due on demand with additional interest on the amount at 2% per annum above the Alternate Base Rate to the extent permitted by law (and such interest will be compounded daily); provided, however, that Transferor may direct any such overdue interest (together with such additional interest thereon) to be paid on any Business Day prior to such next Distribution Date or last day of the next Distribution Period from funds on deposit in the Carrying Cost Account. (f) Non-Usage Fees shall be payable with respect to the Series 1996-1 Certificates at a daily rate equal to (i) the Non-Usage Fee Rate multiplied by (ii) the remainder of (A) the Stated Amount minus (B) the Class A Invested Amount on each day divided by (iii) 360. (g) Trustee One-Time Fees shall also be payable with respect to the Series 1996-1 Certificates as specified in the Pooling Agreement and to the extent (but only to the extent) that funds become available for such Trustee One-Time Fees in accordance with Sections 4.3 and 4.4. (h) Additional Amounts shall also be payable with respect to the Series 1996-1 Certificates as specified in the Certificate Purchase Agreements and to the extent (but only to the extent) that funds become available for such Additional Amounts in accordance with Sections 4.3 and 4.4.

Interest; Additional Amounts. (a) Subject to Section 4.1 of the Class A Certificate Purchase Agreement, Transferor may from time to time allocate the outstanding principal amount under the Class A Series 1996-1 Certificates to one ABR CBR Tranche and and/or up to three Eurodollar Tranches (although the total number of tranches may not exceed three at any one time)four LIBOR Tranches. Interest on each Tranche shall be payable on the last day of each Interest Payment Date applicable to Period therefor, except that interest on the amount of any principal repaid on any other date shall be payable on the date of the repayment. If any such Trancheday is not a Business Day, interest shall instead be due on the next Business Day (or, if the next Business Day falls in the next calendar month, then on the next preceding Business Day). (b) Interest Except as provided in clauses (d) and (e) below, interest on a Eurodollar each LIBOR Tranche of the Class A Certificates shall accrue during any Interest Period therefor at a rate per annum equal to the LIBOR Rate plus the applicable Class A Certificate Spread Applicable Margin and shall be calculated on the basis of actual days over a year of 360 days. (c) Interest Except as provided in clauses (d) and (e) below, interest on an ABR the CBR Tranche of the Class A Certificates shall accrue during any Interest Period at a rate per annum equal to the Alternate Corporate Base Rate in effect from time to time plus the applicable Class A Certificate Spread and shall be calculated on the basis of actual days over a year of 360 365 or 366 days, as the case may be. (d) Interest on the Class B Certificates shall accrue during any Distribution Period at a rate per annum equal to LIBOR plus the Class B Certificate Spread and shall be calculated on the basis of actual days over a year of 360 days. (e) Interest with respect to the Series 1996-1 Certificates due but not paid on any Distribution Date or the last day of an Interest Period, as the case may be, when due will be due on demand the next Distribution Date or last day of the next Interest Period with additional interest on the amount at 2% per annum above the Alternate Corporate Base Rate to the extent permitted by law (and such interest will be compounded daily)law; provided, however, that Transferor may direct any such overdue interest (together with such additional interest thereon) to be paid on any Business Day prior to such next Distribution Date or last day of the next Distribution Period from funds on deposit in the Carrying Cost Account. (fe) Non-Usage Fees Following the occurrence of a Servicer Default, interest on each Tranche shall be payable with respect accrue at a rate per annum equal to the Series 1996-1 Certificates at a daily rate equal to (i) the Non-Usage Fee Corporate Base Rate multiplied by (ii) the remainder of (A) the Stated Amount minus (B) the Class A Invested Amount on each day divided by (iii) 360plus 2.0%. (g) Trustee One-Time Fees shall also be payable with respect to the Series 1996-1 Certificates as specified in the Pooling Agreement and to the extent (but only to the extent) that funds become available for such Trustee One-Time Fees in accordance with Sections 4.3 and 4.4. (hf) Additional Amounts shall also be payable with respect to the Series 1996-1 Certificates as specified in the Certificate Purchase Agreements Agreement and to the extent (but only to the extent) that funds become available for such Additional Amounts in accordance with Sections 4.3 4.2 and 4.44.3.