Class A Daily Interest Amount definition

Class A Daily Interest Amount means, for any day in an Interest Period, an amount equal to the result of (a) the product of (i) the Class A Note Rate for such Interest Period and (ii) the Class A Principal Amount as of the close of business on such date divided by (b) 360.
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Class A Daily Interest Amount means, for any day in a Series 2013-B Interest Period, an amount equal to the result of (a) the product of (i) the Class A Note Rate for such Series 2013-B Interest Period and (ii) the Class A Principal Amount as of the close of business on such date divided by (b) 360.
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Class A Daily Interest Amount means, for any day in a Series 2005-3 Interest Period, an amount equal to the result of (a) the sum of (x) the product of (i) the Class A-1 Note Rate for such Series 2005-3 Interest Period and (ii) the Class A-1 Principal Amount as of the close of business on such date and (y) the product of (i) the Class A-2 Note Rate for such Series 2005-3 Interest Period and (ii) the Class A-2 Principal Amount as of the close of business on such date divided by (b) 360; provided, that the aggregate principal amount of any Class A Notes that have been redeemed with the proceeds of a draw on the Insurance Policy shall be deemed to accrue interest at the Late Payment Rate (as defined in the Insurance Agreement).
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More Definitions of Class A Daily Interest Amount

Class A Daily Interest Amount means, for any day in a Series 2005-3 Interest Period, an amount equal to the result of (a) the sum of (x) the product of (i) the Class A-1 Note Rate for such Series 2005-3 Interest Period and (ii) the Class A-1 Principal Amount as of the close of business on such date and (y) the product of (i) the Class A-2 Note Rate for such Series 2005-3 Interest Period and (ii) the Class A-2 Principal Amount as of the close of business on such date divided by (b) 360; provided, that the aggregate principal amount of any Class A Notes that have been redeemed with
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Related to Class A Daily Interest Amount

  • Daily Interest Amount means an amount calculated by multiplying the Daily Loan Balance of a Loan by the associated Daily Interest Rate on that Loan.

  • Note Interest Distributable Amount means, with respect to any Payment Date and a Class of Notes, the sum of the Note Monthly Interest Distributable Amount for such Payment Date and the Note Interest Carryover Shortfall for such Class of Notes. For all purposes of this Agreement and the other Basic Documents, interest with respect to the Class A-2, Class A-3 and Class A-4 Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months; and interest with respect to the Class A-1 Notes shall be computed on the basis of the actual number of days in each applicable Interest Accrual Period, divided by 360.

  • Class A-1 Interest Distributable Amount means the amount of interest accrued during the related Interest Period (calculated on the basis of the actual number of days in such Interest Period and a year assumed to consist of 360 days) on the Class A‑1 Principal Balance as of the immediately preceding Payment Date (after giving effect to payments of principal made on such immediately preceding Payment Date) at the Class A‑1 Rate or, in the case of the first Payment Date, on the Class A‑1 Initial Principal Balance.

  • Class B Noteholders’ Monthly Interest Distributable Amount means, with respect to any Payment Date, interest accrued for the related Interest Accrual Period on the Class B Notes at the interest rate for such Class on the Outstanding Amount of the Notes of such Class on the immediately preceding Payment Date (or, in the case of the initial Payment Date, on the Closing Date), after giving effect to all payments of principal to the Noteholders of such Class on or prior to such preceding Payment Date. For all purposes of this Agreement and the Basic Documents, interest with respect to all Class B Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months. The interest due on these Classes of notes on each Payment Date will be the product of: · the Outstanding Principal Balance of the Class B Notes; · the Class B Interest Rate; and · 30 (or, in the case of the initial Payment Date, 26) divided by 360.

  • Class A Monthly Interest shall have the meaning specified in subsection 4.02(a).