Calculation of interest. Interest on all Obligations shall be calculated on the basis of actual days elapsed and that an entire year's interest is earned in three hundred sixty (360) days.
Appears in 6 contracts
Sources: Credit Agreement (Obsidian Enterprises Inc), Credit Agreement (Obsidian Enterprises Inc), Credit Agreement (Obsidian Enterprises Inc)
Calculation of interest. Interest on all Obligations All interest shall accrue from day to day and be calculated on the basis actual number of actual days elapsed and that an entire year's interest is earned in on the basis of a three hundred sixty (360) daysday year.
Appears in 6 contracts
Sources: Senior Secured Revolving Credit Facility (Seacor Holdings Inc /New/), Revolving Credit Facility (Seacor Holdings Inc /New/), Revolving Credit Facility Agreement (Seacor Smit Inc)
Calculation of interest. Interest on all Obligations All interest shall accrue and be calculated on the basis actual number of actual days elapsed and that an entire year's interest is earned in on the basis of a three hundred sixty (360) daysday year.
Appears in 4 contracts
Sources: Term Loan and Revolving Credit Facility Agreement (Marine Transport Corp), Term Loan and Revolving Credit Facility Agreement (Marine Transport Corp), Term Loan and Revolving Credit Facility Agreement (Marine Transport Corp)
Calculation of interest. Interest on all Obligations shall be calculated on the basis of actual days elapsed and that an entire year's interest is earned in a three hundred sixty (360) daysdays per year factor applied to the number of actual days elapsed.
Appears in 4 contracts
Sources: Security Agreement (Majestic Safe-T-Products LTD), Security Agreement (Majestic Safe-T-Products LTD), Security Agreement (Majestic Safe-T-Products LTD)
Calculation of interest. Interest on all Obligations All interest shall accrue from day-to-day and be calculated on the basis actual number of actual days elapsed and that an entire year's interest is earned in on the basis of a three hundred sixty (360) daysday year.
Appears in 4 contracts
Sources: Senior Secured Revolving Credit Facility Agreement (OSG America L.P.), Senior Secured Revolving Credit Facility Agreement (OSG America L.P.), Credit Agreement (Overseas Shipholding Group Inc)
Calculation of interest. Interest on all Obligations applicable to any amount payable hereunder shall be calculated for the actual number of days elapsed on the basis of actual days elapsed and that an entire year's interest is earned in a year consisting of three hundred and sixty (360) days.
Appears in 3 contracts
Sources: Equipment Supply and Services Agreement (Velocom Inc), Equipment Supply and Services Agreement (Velocom Inc), Equipment Supply and Services Agreement (Velocom Inc)
Calculation of interest. Interest on all Obligations All interest shall accrue and be calculated on the actual number of days lapsed and on the basis of actual days elapsed and that an entire year's interest is earned in a three hundred sixty (360) daysday year.
Appears in 3 contracts
Sources: Credit Agreement (Chiles Offshore Inc/New/), Credit Agreement (Chiles Magellan LLC), Credit Agreement (Chiles Offshore LLC)
Calculation of interest. Interest on all Obligations shall be calculated on the basis of actual days elapsed and that an entire year's ’s interest is earned in three hundred sixty (360) days. This calculation method results in a higher effective interest rate than the numeric interest rate stated in this Agreement. Interest shall accrue from and including the date of any Advance to but excluding the date of any repayment thereof.
Appears in 1 contract
Sources: Credit Agreement (Janel Corp)