Calculation of Interest and Fees; Maximum Interest Rate; Default Rate Sample Clauses

Calculation of Interest and Fees; Maximum Interest Rate; Default Rate. (a) Interest on Revolving Loans and Term Loan shall be calculated on the basis of a year of 365 or 366 days, as applicable, based on the actual number of days elapsed and fees payable hereunder shall be calculated on the basis of a year of 365 or 366 day year, as applicable based on the actual number of days elapsed.
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Calculation of Interest and Fees; Maximum Interest Rate; Default Rate. (a) Interest payable hereunder or under the Notes or any other Loan Document shall be calculated on the basis of a year of three hundred sixty (360) days based on the actual number of days elapsed. The Commitment Fee payable hereunder shall be calculated on the basis of a year of three hundred sixty-five (365) days based on the actual number of days elapsed. Any change in the Taxable Floating Rate, Tax-Exempt Floating Rate, SIFMA Index Rate or the Default Rate resulting from a change in the LIBOR Rate, the Federal Funds Rate, the Prime Rate or the SIFMA Index Rate shall become effective as of the opening of business on the day on which such change in the LIBOR Rate, the Federal Funds Rate, the Prime Rate or the SIFMA Index Rate shall become effective. Each determination by the Bank of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error. All fees hereunder shall be fully earned on the date when due and, once paid, shall be non-refundable. If any of the Taxable Floating Rate, Tax-Exempt Floating Rate or SIFMA Index Rate becomes equal to the Default Rate pursuant to their definitions hereunder, the Agency shall also pay all amounts due hereunder due to such change in the interest rate. The Bank shall promptly notify the Agency of the Taxable Floating Rate, Tax-Exempt Floating Rate and SIFMA Index Rate promptly following each Loan Date; provided, however, that the failure by the Bank to provide notice of the Taxable Floating Rate, Tax-Exempt Floating Rate and SIFMA Index Rate shall not relieve the Agency of its obligations arising under or related to this Agreement, the Notes or the other Loan Documents.
Sample 1
Calculation of Interest and Fees; Maximum Interest Rate; Default Rate. (a) Interest on the Tax-Exempt LIBOR Term Loans and the Taxable Term Loans and fees payable hereunder shall be calculated on the basis of a year of 360 days based on the actual number of days elapsed.
Sample 1

Related to Calculation of Interest and Fees; Maximum Interest Rate; Default Rate

  • Determination of Rate of Interest and calculation of Interest Amounts The Agent will at or as soon as practicable after each time at which the Rate of Interest is to be determined, determine the Rate of Interest for the relevant Interest Period. The Agent will calculate the amount of interest (the Interest Amount) payable on the Floating Rate Notes for the relevant Interest Period by applying the Rate of Interest to:

  • Default Interest Rate From and after the occurrence of any Event of Default, and so long as any such Event of Default remains unremedied or uncured thereafter, the Obligations outstanding under the Agreement shall bear interest at a per annum rate of five percent (5%) above the otherwise applicable interest rate hereunder, which interest shall be payable upon demand. In addition to the foregoing, a late payment charge equal to five percent (5%) of each late payment hereunder may be charged on any payment not received by Bank within ten (10) calendar days after the payment due date therefor, but acceptance of payment of any such charge shall not constitute a waiver of any Event of Default under the Agreement. In no event shall the interest payable under this Addendum and the Agreement at any time exceed the maximum rate permitted by law.

  • Computation of Interest and Fees All computations of interest for Base Rate Loans (including Base Rate Loans determined by reference to the Eurodollar Rate) shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365-day year). Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid, provided that any Loan that is repaid on the same day on which it is made shall, subject to Section 2.12(a), bear interest for one day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

  • Interest Rate The LHIN may charge the HSP interest on any amount owing by the HSP at the then current interest rate charged by the Province of Ontario on accounts receivable.

  • Calculation of Interest The rate of interest on each Loan for each Interest Period is the percentage rate per annum which is the aggregate of the applicable:

  • Determination of Interest Rates for the LIBOR Floating Rate Classes The Interest Rates for the LIBOR Floating Rate Classes for each Interest Accrual Period shall be determined by Xxxxxx Xxx or the Paying Agent on the Index Determination Date in the month following the month in which the Settlement Date occurs and on each Index Determination Date thereafter so long as the LIBOR Floating Rate Classes are outstanding on the basis of LIBOR and the applicable formulae specified in the Prospectus Supplement or the Lower Tier Schedule, as the case may be. For any period during which LIBOR for any LIBOR Floating Rate Class is to be determined on the basis of the “LIBO Method” (as defined in the Prospectus), until such Class is paid in full, Xxxxxx Mae shall at all times retain at least four Reference Banks (as defined in the Prospectus). The Paying Agent and Xxxxxx Xxx shall have no liability or responsibility to any Person for (i) the selection of any Reference Bank for purposes of determining LIBOR or (ii) any inability to retain at least four Reference Banks which is caused by circumstances beyond their reasonable control. In determining LIBOR, any Interest Rate for the LIBOR Floating Rate Classes or any Reserve Interest Rate (as defined in the Prospectus), Xxxxxx Mae or the Paying Agent may conclusively rely and shall be protected in relying upon the rates or offered quotations (whether written, oral or disseminated by means of an electronic information system) provided by the sources specified in the Prospectus. Neither Xxxxxx Xxx nor the Paying Agent shall have any liability or responsibility to any Person for (i) the Paying Agent’s selection of New York City banks for purposes of determining any Reserve Interest Rate or (ii) its inability, following a good-faith reasonable effort, to obtain the applicable rates or quotations or to determine the arithmetic mean of such quotations, all as provided for in the Prospectus.

  • Interest on Overdue Amounts 22.1 Any Licence Fee which is payable and remains unpaid for a period in excess of 30 (thirty) days from the date of the invoice, will attract interest at the current legal rate, calculated in accordance with the interest rate prescribed by the Minister of Justice in accordance with the Prescribed Rate of Interest Act 55 of 1975, as amended.

  • Notification of Rate of Interest and Interest Amounts The Agent or the Calculation Agent, as applicable, will cause the Rate of Interest and each Interest Amount for each Interest Period and the relevant Interest Payment Date to be notified to the Issuer and any stock exchange on which the relevant Floating Rate Notes are for the time being listed (by no later than the first day of each Interest Period) and notice thereof to be published in accordance with Condition 13 as soon as possible after their determination but in no event later than the fourth London Business Day thereafter. Each Interest Amount and Interest Payment Date so notified may subsequently be amended (or appropriate alternative arrangements made by way of adjustment) without prior notice in the event of an extension or shortening of the Interest Period. Any such amendment will promptly be notified to each stock exchange on which the relevant Floating Rate Notes are for the time being listed and to the Noteholders in accordance with Condition 13. For the purposes of this paragraph, the expression London Business Day means a day (other than a Saturday or a Sunday) on which banks and foreign exchange markets are open for general business in London.

  • Computation of Interest Except as otherwise specified as contemplated by Section 301 for Securities of any series, interest on the Securities of each series shall be computed on the basis of a 360-day year of twelve 30-day months.

  • Interest on Floating Rate Notes (a) Interest Payment Dates Each Floating Rate Note bears interest from (and including) the Interest Commencement Date and such interest will be payable in arrear on either:

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