Common use of Computation Conventions Clause in Contracts

Computation Conventions. All computations of interest under clause (b) above and all computations of Discount, fees, and other amounts hereunder shall be made on the basis of a year of three hundred sixty (360) days (other than Discount calculated by reference to the Base Rate which shall be computed on the basis of a year of three hundred sixty-five (365) or three hundred sixty-six (366) days, as the case may be) for the actual number of days elapsed. Whenever any payment or deposit to be made hereunder shall be due on a day other than a Business Day, such payment or deposit shall be made on the next succeeding Business Day and such extension of time shall be included in the computation of such payment or deposit.

Computation Conventions. All computations of interest under clause subsection (b) above and all computations of DiscountYield, fees, Fees and other amounts hereunder shall be made on the basis of a year of three hundred sixty (360) 360 days (other than Discount calculated or, in the case of amounts determined by reference to the Base Rate which shall be computed on the basis of a year of three hundred sixty-five (365) Rate, 365 or three hundred sixty-six (366) 366 days, as the case may beapplicable) for the actual number of days (including the first but excluding the last day) elapsed. Whenever any payment or deposit to be made hereunder shall be due on a day other than a Business Day, such payment or deposit shall be made on the next succeeding Business Day and such extension of time shall be included in the computation of such payment or deposit.