Common use of Computation; 360-Day Year Clause in Contracts

Computation; 360-Day Year. In computing interest with respect to each Term Loan Advance, the date of the making of such Term Loan Advance shall be included and the date of payment shall be excluded; provided, however, that if a Term Loan Advance is repaid on the same day on which it is made, such day shall be included in computing interest on such Term Loan Advance. Interest with respect to the Term Loan Advances shall be computed on the basis of a 360-day year for the actual number of days elapsed.

Appears in 1 contract

Samples: Loan and Security Agreement (Beamr Imaging Ltd.)

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Computation; 360-Day Year. In computing interest with respect to each the Term Loan AdvanceAdvances, the date of the making of such any Term Loan Advance shall be included and the date of payment shall be excluded; provided, however, that if a any Term Loan Advance is repaid on the same day on which it is made, such day shall be included in computing interest on such Term Loan Advance. Interest with respect to the Term Loan Advances shall be computed on the basis of a 360-day year for the actual number of days elapsed.

Appears in 1 contract

Samples: Loan and Security Agreement (Vericel Corp)

Computation; 360-Day Year. In computing interest with respect to each the Term Loan Advance, the date of the making of such the Term Loan Advance shall be included and the date of payment shall be excluded; provided, however, that if a the Term Loan Advance is repaid on the same day on which it is made, such day shall be included in computing interest on such the Term Loan Advance. Interest with respect to the Term Loan Advances Advance shall be computed on the basis of a 360-day year for the actual number of days elapsed.

Appears in 1 contract

Samples: Loan and Security Agreement (GigPeak, Inc.)

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Computation; 360-Day Year. In computing interest with respect to each Term Loan Advanceinterest, the date of the making of such the Term Loan Advance shall be included and the date of payment shall be excluded; provided, however, that if a the Term Loan Advance is repaid on the same day on which it is made, such day shall be included in computing interest on such the Term Loan Advance. Interest with respect to the Term Loan Advances shall be computed on the basis of a 360-day year for the actual number of days elapsed.

Appears in 1 contract

Samples: Subordinated Loan and Security Agreement (Everyday Health, Inc.)

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