Common use of Accrual and Payment of Interest Clause in Contracts

Accrual and Payment of Interest. Interest shall accrue from day to day, shall be calculated on the basis of a 360 day year and the actual number of days elapsed (or, in any circumstance where market practice differs, in accordance with the prevailing market practice) and shall be paid by the Borrower to the Agent for the account of the Lenders on the last day of each Interest Period and, if the Interest Period is longer than three months, on the dates falling at three monthly intervals after the first day of that Interest Period.

Accrual and Payment of Interest. Interest shall accrue from day to day, shall be calculated on the basis of a 360 day year and the actual number of days elapsed (or, in any circumstance where market practice differs, in accordance with the prevailing market practice) and shall be paid by the Borrower Borrowers to the Agent for the account of the Lenders on the last day of each Interest Period andand additionally, if the during any Interest Period is longer than three exceeding six months, on the dates falling at three monthly intervals last day of each successive six month period after the first day beginning of that Interest Period.

Accrual and Payment of Interest. Interest shall accrue from day to day, shall be calculated on the basis of a 360 day year and the actual number of days elapsed (or, in any circumstance where market practice in the London Interbank market differs, in accordance with the prevailing market practice) and shall be paid by the Borrower to the Agent for the account on behalf of the Lenders Banks on the last day of each Interest Period andand additionally, if the during any Interest Period is longer than three exceeding six months, on the dates falling at three monthly intervals last day of each successive six month period after the first day beginning of that Interest Period.

Accrual and Payment of Interest. Interest shall accrue from day to day, shall be calculated on the basis of a 360 day year and the actual number of days elapsed (or, in any circumstance where market practice differs, in accordance with the prevailing market practice) and shall be paid by the Borrower to the Agent for the account on behalf of the Lenders Banks on the last day of each Interest Period andand additionally, if the during any Interest Period is longer than exceeding three months, on the dates falling at last day of each successive three monthly intervals month period after the first day beginning of that Interest Period.