Additional Interest Provisions. (a) Interest on the LIBOR Rate Loans shall be based on a three hundred sixty (360) day year but charged for the actual number of days elapsed. Interest on Base Rate Loans shall be based on a three hundred sixty five (365)/three hundred sixty six (366) day year but charged for the actual number of days elapsed.
Appears in 3 contracts
Samples: Loan and Security Agreement (COHEN & Co INC.), Loan and Security Agreement (Alesco Financial Inc), Loan and Security Agreement (Alesco Financial Inc)
Additional Interest Provisions. (a) a. Interest on the LIBOR Rate Loans shall be based calculated on the basis of a year of three hundred sixty (360) day year days but charged for the actual number of days elapsed. Interest on the Base Rate Loans shall be based calculated on the basis of a year of three hundred sixty five (365)/three 365) or three hundred sixty six (366) day year days, as the case may be, but charged for the actual number of days elapsed.
Appears in 2 contracts
Samples: Loan Agreement (South Jersey Industries Inc), Loan Agreement (South Jersey Gas Co/New)
