Basis of Calculation of Interest. All interest payable hereunder shall be calculated on the basis of the 360/365 method, which computes a daily amount of interest for a hypothetical year of 360 days, then multiplies such amount by the actual number of days elapsed in an interest calculation period.
Appears in 11 contracts
Samples: Bridge Loan Agreement (Alternative Living Services Inc), Bridge Loan Agreement (Alternative Living Services Inc), Bridge Loan and Security Agreement (Eltrax Systems Inc)
