Common use of Calculations; Default Interest; Compounded Interest Clause in Contracts

Calculations; Default Interest; Compounded Interest. Except as otherwise expressly set forth in this Loan Agreement, all computations of interest and fees under this Loan Agreement or any Related Document shall be made on the basis of a year consisting of 360 days and actual days elapsed. All amounts that are not paid when due under this Loan Agreement shall bear interest at the interest rate of fifteen percent (15%) per annum (the "Default Rate"), compounded every 90 days after the Default Rate becomes applicable.

Calculations; Default Interest; Compounded Interest. Except as otherwise expressly set forth in this Loan Agreement, all computations of interest and fees under this Loan Agreement or any Related other Transaction Document shall be made on the basis of a 360-day year consisting of 360 days and actual days elapsedtwelve 30-day months. All amounts that are not paid when due under this Loan Agreement shall bear interest at the interest rate of fifteen twelve percent (1512%) per annum (the "Default Rate"), compounded every 90 days after the Default Rate becomes applicable.