Calculation of Interest Rate. Interest on each Loan and on each other amount due and payable under the Loan Documents shall in each case be calculated on the basis of a year of 360 days consisting of twelve 30-day months.
Calculation of Interest Rate. Beginning on the first day after the date hereof, Interest shall accrue on the unpaid principal amount from time to time outstanding hereunder at a rate per year equal to the "Prime Rate" plus one hundred seventy five basis points (175 bps). "Prime Rate" means the rate of interest announced from time to time by LaSalle Bank National Association ("LaSalle") as its prime rate. Changes in the rate of interest hereunder resulting from a change in the Prime Rate shall take effect on the date set forth in each announcement of a change in the Prime Rate. Interest shall be computed for the actual number of days elapsed on the basis of a year consisting of 365 days, including the date the loan is made and excluding the date the loan or any portion thereof is paid or prepaid. As of the date hereof, there is outstanding under the Original Note the sum of $3,353,125.49 in principal and accrued but unpaid interest, all of which shall be deemed outstanding under this Note as of the date hereof.
Calculation of Interest Rate. EACH OF THE LOAN PARTIES CONFIRMS THAT IT FULLY UNDERSTANDS AND IS ABLE TO CALCULATE THE RATE OF INTEREST APPLICABLE TO EACH OF THE LOANS AND OTHER SECURED OBLIGATIONS BASED ON THE METHODOLOGY FOR CALCULATING PER ANNUM RATES PROVIDED FOR IN THIS AGREEMENT. Lender agrees that if requested in writing by a Loan Party it shall calculate the nominal and effective per annum rate of interest on any Loans or other Secured Obligations outstanding at any time and provide such information to such Loan Party promptly following such request; provided that any error in any such calculation, or any failure to provide such information on request, shall not relieve such Loan Party of any of its obligations under this Agreement or any other Financing Document, nor result in any liability to the Lender. EACH LOAN PARTY HEREBY IRREVOCABLY AGREES NOT TO PLEAD OR ASSERT, WHETHER BY WAY OF DEFENCE OR OTHERWISE, IN ANY PROCEEDING RELATING TO THE FINANCING DOCUMENTS, THAT THE INTEREST PAYABLE UNDER THE FINANCING DOCUMENTS AND THE CALCULATION THEREOF HAS NOT BEEN ADEQUATELY DISCLOSED TO THE LOAN PARTIES, WHETHER PURSUANT TO SECTION 4 OF THE INTEREST ACT (CANADA) OR ANY OTHER APPLICABLE LAW OR LEGAL PRINCIPLE.
Calculation of Interest Rate. Interest shall begin to accrue on the date hereof in accordance with the terms of this Section 1.1 and shall be compounded as of the first business day of each calendar quarter until all principal and accrued interest is paid. Commencing on the date hereof, interest shall accrue at a rate of 3.6% per annum. As of the first business day of each calendar quarter (each, a "Change Date"), commencing on January 1, 2002, Lender shall adjust the interest rate charged on all amounts of outstanding principal and interest accrued during the previous calendar quarter to a rate which is equal to the average return on all of Lender's cash and readily tradable long- and short-term securitiex xxxxng such previous calendar quarter; thereafter, interest shall accrue on the unpaid outstanding principal and accrued interest at the most recently adjusted interest rate until the next Change Date. Lender shall furnish to Borrower a statement showing all such cash and securities and the return thereon for the prior calendar quarter in support of each adjustment to the interest rate. Interest shall be computed for the actual number of days elapsed on the basis of a year consisting of 365 days, including the date the loan is made and excluding the date the loan or any portion thereof is paid or prepaid.
Calculation of Interest Rate. Prior to the Closing Date, the Purchasers shall have received a Notice of Interest Rate Certificate at least three Business Days prior to the Closing Date, signed by the Chief Financial Officer of the Company in accordance with Section 4 of this Eighth Supplement.
Calculation of Interest Rate. Interest on the unpaid principal of the Notes shall be calculated using a daily rate equal to 1/360 of the applicable rate of interest per annum, not to exceed, however, the Maximum Rate.
Calculation of Interest Rate. The Note shall bear interest from the issue date (the “Interest Rate”) at the greater of (i) twelve percent (12%) per annum or (ii) the 30-day LIBOR rate, as published in the Wall Street Journal, plus 1,075 basis points. The Interest Rate will change each time and as of the date that the 30-day LIBOR rate changes.
Calculation of Interest Rate. 2.3.1 Normal interest rate = interest rate set forth herein*amount of the Loan advanced*number of days (commencing from the advancing date and ending on the maturity date).
Calculation of Interest Rate. For the period from the Issue Date to the first Interest Reset Date set forth on the face hereof, the interest rate hereon shall be the Initial Interest Rate specified on the face hereof. Thereafter, the interest rate hereon 11 will be reset on each Interest Reset Date; provided, however, that the interest rate in effect for the ten days immediately prior to Maturity will be that in effect on the tenth day preceding such Maturity. If any Interest Reset Date would otherwise be a day that is not a Business Day (or, if this Note is a LIBOR Note, a day that is not a London Business Day), such Interest Reset Date shall be postponed to the next day that is a Business Day (or, if this Note is a LIBOR Note, to the next day that is a London Business Day), except that if this Note is a LIBOR Note and such London Business Day is in the next succeeding calendar month, such Interest Reset Date shall be the immediately preceding London Business Day. If this Note is a Treasury Rate Note (as defined below) and an auction date for Treasury bills shall fall on any Interest Reset Date, then such Interest Reset Date shall instead be the first Business Day immediately following such auction date. Subject to applicable provisions of law and except as specified herein, on each Interest Reset Date, the rate of interest on this Note on and after the first Interest Reset Date shall be the rate determined in accordance with the provisions of the heading below which has been designated as the Interest Rate Basis on the face hereof plus or minus the Spread, if any, specified on the face hereof or multiplied by the Spread Multiplier, if any, specified on the face hereof. Commercial Paper Rate Notes
Calculation of Interest Rate. On the First Change Date, Payee will calculate the new interexx xxte by adding one hundred ten (110) basis points to the Current Index. On the Second Change Date, Payee will calculate the new interexx xxte by adding one hundred thirty (130) basis points to the Current Index. The Initial Interest Rate and the interest rate as calculated on each Change Date shall be the "Current Interest Rate."
