Common use of BASIS OF COMPUTATION OF INTEREST; PAYMENT OF INTEREST Clause in Contracts

BASIS OF COMPUTATION OF INTEREST; PAYMENT OF INTEREST. All interest (including default interest, if any) shall be calculated on the basis of the actual number of days elapsed and a 360-day year and shall be payable in arrears by the Borrower not later than 12:00 noon (New York City time) on each Interest Payment Date by wire transfer of immediately available funds in accordance with Section 2.7.

Appears in 1 contract

Samples: Bridge Loan Agreement (L 3 Communications Corp)

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BASIS OF COMPUTATION OF INTEREST; PAYMENT OF INTEREST. All interest (including default interest, if any) shall be calculated for actual days elapsed on the basis of the actual number of days elapsed and a 360-day year (or a 365-day year in the case of Base Rate Loans) and shall be payable in arrears by the Borrower not later than 12:00 noon (New York City time) on each Interest Payment Date by wire transfer of immediately available funds in accordance with Section 2.72.9.

Appears in 1 contract

Samples: Bridge Loan Agreement (Windmere Durable Holdings Inc)

BASIS OF COMPUTATION OF INTEREST; PAYMENT OF INTEREST. All interest (including default interest, if any) shall be calculated on the basis of the for actual number of days elapsed and a 360-day year and shall be payable in arrears by the Borrower advance not later than 12:00 noon (New York City time) on each Interest Payment Date by wire transfer of immediately available funds in accordance with Section 2.72.9.

Appears in 1 contract

Samples: Bridge Loan Agreement (Creditrust Corp)

BASIS OF COMPUTATION OF INTEREST; PAYMENT OF INTEREST. All interest (including default interest, if any) shall be calculated for actual days elapsed on the basis of the actual number of days elapsed and a 360-day year and shall be payable in arrears by the Borrower not later than 12:00 noon (New York City time) on each Interest Payment Date by wire transfer of immediately available funds in accordance with Section 2.72.9.

Appears in 1 contract

Samples: Bridge Loan Agreement (Key Energy Group Inc)

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BASIS OF COMPUTATION OF INTEREST; PAYMENT OF INTEREST. All interest (including default interest, if any) shall be calculated for actual days elapsed on the basis of the actual number of days elapsed and a 360365-day year and shall be payable in arrears by the Borrower not later than 12:00 noon (New York City time) on each Interest Payment Date by wire transfer of immediately available funds in accordance with Section 2.72.10.

Appears in 1 contract

Samples: Bridge Loan Agreement (Agco Corp /De)

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