Computation of Interest definition

Computation of Interest. The interest rate on each Floating Rate Note will be calculated by reference to the specified Base Rate in either case plus or minus the applicable Spread, if any, and/or multiplied by the applicable Spread Multiplier, if any. Unless otherwise provided in the applicable Pricing Supplement, interest on each Floating Rate Note will be calculated by multiplying its face amount by an accrued interest factor. Such accrued interest factor is computed by adding the interest factor calculated for each day in the period for which accrued interest is being calculated. Unless otherwise specified in the applicable Pricing Supplement, the interest factor for each such day is computed by dividing the interest rate applicable to such day by 360 in the case of CD Rate Notes, Commercial Paper Rate Notes, Federal Funds Rate Notes, LIBOR Notes or Prime Rate Notes, or by the actual number of days in the year in the case of Treasury Rate Notes and CMT Rate Notes. Acceptance and Rejection of Offers: The Company will have the right to accept or reject in whole or in part offers to purchase Notes. Each Agent shall communicate to the Company, orally or in writing, each offer to purchase Notes received by it, other than those rejected by it as unreasonable. Each Agent may reject any offer in whole or in part.

Computation of Interest. As specified in the Spread: See attached schedule Prospectus Supplement for the indicated base rate. Spread Multiplier: N/A. Maximum Interest Rate: None. Authorized Denominations: $1,000 integral amounts. Minimum Interest Rate: None.

Computation of Interest. Interest on each Fixed Rate Note (including payments for partial periods) will be calculated on the basis of a 360- day year of twelve 30-day months. (Examples of interest calculations are as follows: 3-15-89 to 9-15-89 equals six months, zero days or 180 days; the interest paid equals 180/360 times the annual rate of interest times face value. The period from 4-17-89 to 9-15-89 equals four months, 28 days or 148 days; the interest paid equals 148/360 times the annual rate of interest times face value.) Interest does not accrue on the 31st day of any month. Interest on Floating Rate Notes will accrue from the date of issue or from the last date to which interest has been paid up to but excluding the next succeeding Interest Payment Date (each such time period an "Interest Period"). With respect to a Floating Rate Note, accrued interest shall be calculated by multiplying the principal amount of such Floating Rate Note by an accrued interest factor. Such accrued interest factor will be computed by adding the interest factors calculated for each day in the Interest Period or from the last date from which accrued interest is being calculated. The interest factor for each such day is computed by dividing the interest rate in effect on such day by 360, in the case of CD Rate Notes, Commercial Paper Rate Notes, Federal Funds Rate Notes and LIBOR Notes, or by the actual number of days in the year, in the case of Treasury Rate Notes. Payments of Principal, Premium, if any, and Interest: Payments of Interest Only. Promptly after each Regular Record Date, the Trustee will deliver to Ford Credit and DTC a written notice specifying by CUSIP number the amount of interest to be paid on each Global Note on the following Interest Payment Date (other than an Interest Payment Date coinciding with Maturity) and the total of such amounts. DTC will confirm the amount payable on each Global Note on such Interest Payment Date by reference to the daily bond reports published by Standard & Poor's. On such Interest Payment Date, Ford Credit will pay to the Trustee, and the Trustee in turn will pay to DTC, such total amount of interest due (other than at Maturity), at the times and in the manner set forth below under "Manner of Payment". If any Interest Payment Date for any Fixed Rate Book-Entry Note is not a Business Day, the payment due on such day shall be made on the next succeeding Business Day and no interest shall accrue on such payment for the period from and after such Inter...

Computation of Interest. Interest on each Fixed Rate Note (including payments for partial periods) will be calculated on the basis of a 360-day year of twelve 30-day months. (Examples of interest calculations are as follows: 3-15-89 to 9-15-89 equals six months, zero days or 180 days; the interest paid equals 180/360 times the annual rate of interest times face value. The period from 4-17-89 to 9-15-89 equals four months, 28 days or 148 days; the interest paid equals 148/360 times the annual rate of interest times face value.) Interest does not accrue on the 31st day of any month. Interest on Floating Rate Notes will accrue from the date of issue or from the last date to which interest has been paid up to but excluding the next succeeding Interest Payment Date (each such time period an "Interest Period"). With respect to a Floating Rate Note, accrued interest shall be calculated by multiplying the principal amount of such Floating Rate Note by an accrued interest factor. Such accrued interest factor will be computed by adding the interest factors calculated for each day in the Interest Period or from the last date from which accrued interest is being calculated. The interest factor for each such day is computed by dividing the interest rate in effect on such day by 360, in the case of CD Rate Notes, Commercial Paper Rate Notes, Federal Funds Rate Notes and LIBOR Notes, or by the actual number of days in the year, in the case of Treasury Rate Notes.

Computation of Interest. As specified in the Prospectus Initial Interest Reset Date: November 15, 2005; Supplement for the indicated base rate. provided that if such day is not a Business Day, such Interest Reset Date will be the next succeeding day that is a Business Day, unless that succeeding Business Optional Redemption: Yes [ ] No [X] Day would fall in the next calendar month, in which Optional Redemption Date: Not applicable. case such Interest Reset Date will be the immediately Initial Redemption Percentage: Not applicable. preceding Business Day. Annual Percentage Reduction: None. Redemption may be: [ ] In whole only. Index Maturity: Three month. [ ] In whole or in part. Interest Rate Determination Date: As specified in the Other Redemption Terms: Not applicable. Prospectus Supplement for the indicated base rate.