Common use of Accrual Method Clause in Contracts

Accrual Method. Unless otherwise indicated, interest at the Rate set forth above will be calculated by the 365/360 day method (a daily amount of interest is computed for a hypothetical year of 360 days; that amount is multiplied by the actual number of days for which any principal is outstanding hereunder).

Appears in 22 contracts

Samples: Loan Agreement (Tor Minerals International Inc), Loan Agreement (Tor Minerals International Inc), Loan Agreement (Tor Minerals International Inc)

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Accrual Method. Unless otherwise indicated, interest Interest at the Rate set forth above will be calculated by the 365/360 day method (a daily amount of interest is computed for a hypothetical year of 360 days; that amount is multiplied by the actual number of days for which any principal is outstanding hereunder).

Appears in 3 contracts

Samples: Loan Agreement (Cpac Inc), Loan Agreement (Cpac Inc), Loan Agreement (Cooker Restaurant Corp /Oh/)

Accrual Method. Unless otherwise indicated, interest at the Interest Rate set forth above will be calculated by the 365/360 actual/360-day method (a daily amount of interest is computed for a hypothetical year of 360 days; that amount is multiplied by the actual number of days for which any principal Principal is outstanding hereunder).

Appears in 2 contracts

Samples: Revolving Credit Note (Integrated Living Communities Inc), Revolving Credit Note (Integrated Health Services Inc)

Accrual Method. Unless otherwise indicated, interest Interest at the Rate set forth above will be calculated by the 365/360 ACTUAL/360 day method (a daily amount of interest is computed for a hypothetical year of 360 days; that amount is multiplied by the actual number of days for which any principal is outstanding hereunder).

Appears in 1 contract

Samples: Powercerv Corp

Accrual Method. Unless otherwise indicated, interest at the Rate set forth above will be calculated by the 365/360 day method (a daily amount of interest is computed for a hypothetical year of 360 days; that amount is multiplied by the actual number of days for which any principal is outstanding hereunder). Rate Change Date. Any Rate based on a fluctuating index or base rate will change, unless otherwise provided, each time and as of the date that the index or base rate changes.

Appears in 1 contract

Samples: Ratification Agreement (Tor Minerals International Inc)

Accrual Method. Unless otherwise indicated, interest at the Rate set forth above will be calculated by the 365/360 day method (a daily amount of interest is computed for a hypothetical year of 360 days; that amount is multiplied by the actual number of days for which any principal is outstanding hereunder).. If interest is not to be computed using this method, the method shall be: N/A. ----

Appears in 1 contract

Samples: Loan Agreement (Integral Systems Inc /Md/)

Accrual Method. Unless otherwise indicated, interest at the Interest Rate set forth above will be calculated by the 365/360 actual/360 day method (a daily amount of interest is computed for a hypothetical year of 360 days; that amount is multiplied by the actual number of days for which any principal Principal is outstanding hereunder).

Appears in 1 contract

Samples: Credit Note (Integrated Living Communities Inc)

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Accrual Method. Unless otherwise indicated, interest at the Rate set forth above will be calculated by the 365/360 day method (a daily amount of interest is computed for a hypothetical year of 360 days; that amount is multiplied by the actual number of days for which any principal is outstanding hereunder).. If interest is not to be computed using this method, the method shall be: N/A. ---

Appears in 1 contract

Samples: Loan Agreement (Opnet Technologies Inc)

Accrual Method. Unless otherwise indicated, interest Interest at the Rate set forth above above, will be calculated by the 365/360 day method (a daily amount of interest is computed for a hypothetical year of 360 days; that amount is multiplied by the actual number of days for which any principal is outstanding hereunder).. If interest is not to be computed using this method, the method shall be: N/A. ---

Appears in 1 contract

Samples: Assignment and Security Agreement (Obsidian Enterprises Inc)

Accrual Method. Unless otherwise indicated, interest Interest at the Rate set forth above will be calculated by the 365/360 actual/360 day method (a daily amount of interest is computed for a hypothetical year of 360 days; that amount is multiplied by the actual number of days for which any principal is outstanding hereunder).

Appears in 1 contract

Samples: Loan Agreement (Tandy Brands Accessories Inc)

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