Basis for Computation Clause Samples
Basis for Computation. All interest hereunder shall be computed on the basis of a year of 360 days, and shall be payable for the actual number of days elapsed. Subject to the last sentence of Section 2.1, Interest on the unpaid principal of each Loan shall accrue from the date such Loan is made to the date such Loan is paid in full.
Basis for Computation. All interest hereunder shall be computed on the basis of a year of 360 days, and shall be payable for the actual number of days elapsed. Subject to the last sentence of Section 2.1, Interest on the unpaid principal of each Loan shall accrue from the date such Loan is made to the date such Loan is paid in full. If the LIBOR Rate becomes unavailable during the term of this Agreement, Lender may designate a comparable substitute rate upon notice to Borrower.
Basis for Computation. Interest, fees and other amounts computed on an annual basis and payable under this Agreement shall be computed on the basis of the exact number of days elapsed during the period concerned (including the first day of the period, but excluding the last day of the period) on the basis of a three hundred and sixty (360) day year.
Basis for Computation. All interest is calculated on the basis of a year of 360 days.
Basis for Computation. 18 6.4 Covenant Regarding Business Days..............................18 6.5