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Common use of Additional Interest Provisions Clause in Contracts

Additional Interest Provisions. a. Interest shall be calculated on the basis of a year of three hundred sixty (360) days but charged for the actual number of days elapsed.

Appears in 6 contracts

Samples: Secured Non Revolving Line of Credit Loan Agreement (Loop Media, Inc.), Secured Non Revolving Line of Credit Loan Agreement (Loop Media, Inc.), Non Revolving Line of Credit Loan Agreement (Loop Media, Inc.)

Additional Interest Provisions. a. Interest on the Loans shall be calculated on the basis of a year of three hundred sixty (360) days but charged for the actual number of days elapsed.

Appears in 2 contracts

Samples: Loan and Security Agreement (Amerinac Holding Corp.), Loan and Security Agreement (American Technical Ceramics Corp)

Additional Interest Provisions. a. Interest on the Obligations shall be calculated on the basis of a year of three hundred sixty (360) days but charged for the actual number of days elapsed.

Appears in 1 contract

Samples: Sale of Accounts and Security Agreement (Intercloud Systems, Inc.)

Additional Interest Provisions. a. Interest shall be calculated on the basis of a year of three hundred sixty (360) days day year of twelve (12) months but charged for the actual number of days elapsed.

Appears in 1 contract

Samples: Non Revolving Line of Credit Loan Agreement (Loop Media, Inc.)