Common use of Monthly Interest Clause in Contracts

Monthly Interest. The amount of monthly interest ("Class A Monthly Interest") with respect to the Class A Certificates on any Distribution Date shall be an amount determined by the Program Agent in accordance with the Certificate Purchase Agreement and the Program Agent shall give notice thereof to the Seller and the Servicer at least two Business Days prior to the related Determination Date. On the Determination Date preceding each Distribution Date, the Servicer shall determine the excess, if any (the "Class A Interest Shortfall"), of (x) the aggregate Class A Monthly Interest for the Interest Period applicable to such Distribution Date over (y) the amount that will be available in the Series 1997-1 Trustee's Account on such Distribution Date in respect thereof pursuant to this Series Supplement. If, on any Distribution Date there exists a Class A Interest Shortfall, then an additional amount ("Class A Additional Interest") determined by the Program Agent in accordance with the Certificate Purchase Agreement shall be payable as provided herein with respect to the Class A Certificates on each Distribution Date following such Distribution Date to and including the Distribution Date on which such Class A Interest Shortfall is paid or deposited in the Series 1997-1 Trustee's Account. Notwithstanding anything to the contrary herein, the Servicer shall instruct the Trustee to pay Class A Additional Interest to Class A Certificateholders only to the extent permitted by applicable law.