Common use of Computation of Fees and Interest Clause in Contracts

Computation of Fees and Interest. (a) All computations of facility fees under Section 2.12 (b) and interest for Base Rate Committed Loans when the Base Rate is determined by BofA's "reference rate" shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more interest being paid than if computed on the basis of a 365-day year). Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof.

Appears in 2 contracts

Samples: Credit Agreement (Deluxe Corp), Credit Agreement (Deluxe Corp)

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Computation of Fees and Interest. (a) All computations of facility fees under Section 2.12 (b) and interest for on Base Rate Committed Loans when the Base Rate is determined by BofABAI's "reference rate" and on Prime Rate Loans and BA Rate Loans shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of interest and fees shall be made on the basis of a 360-day year and actual days elapsed (which results in more interest and fees being paid than if computed on the basis of a 365-day year). Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof.

Appears in 1 contract

Samples: Credit Agreement (Video Update Inc)

Computation of Fees and Interest. (a) All a)All computations of facility fees under Section 2.12 (b) and interest for payable in respect of Base Rate Committed Loans when at all times that the Base Rate is determined by BofA's "reference rate" shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest under this Agreement shall be made on the basis of a 360-day year and actual days elapsed (elapsed, which results in more interest being paid than if computed on the basis of a 365-day year). Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof.

Appears in 1 contract

Samples: Revolving Credit and Bridge Loan Agreement (Plum Creek Timber Co L P)

Computation of Fees and Interest. (a) All computations of facility fees under Section 2.12 (b) and interest for Base Rate Committed Loans when the Base Rate is determined by BofA's "reference rate" and commitment fees payable pursuant to SECTION 2.10(b) shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more interest being paid than if computed on the basis of a 365-day year). Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof.

Appears in 1 contract

Samples: Credit Agreement (Abm Industries Inc /De/)

Computation of Fees and Interest. (a) All computations of facility fees under Section 2.12 (b) interest for Drafts and interest Bankers' Acceptances and for Base Rate Committed Loans when the Base Rate is determined by BofA's "reference rate" shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more interest being paid than if computed on the basis of a 365-day year). Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof.

Appears in 1 contract

Samples: Credit Agreement (McKesson Hboc Inc)

Computation of Fees and Interest. (a) All computations of facility fees under Section 2.12 (b) and interest for Base Rate Committed Loans (and Swing Line Loans bearing interest at the Base Rate) when the Base Rate is determined by BofA's "reference rate" ", and all computations of facility fees and utilization fees, shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of interest and fees shall be made on the basis of a 360-day year and actual days elapsed (which results in more interest being paid than if computed on the basis of a 365-day year)elapsed. Interest and fees shall accrue during each period during which such interest or such fees are computed from the first day thereof to the last day thereof.

Appears in 1 contract

Samples: Credit Agreement (Republic Services Inc)

Computation of Fees and Interest. (a) All computations of facility fees under Section 2.12 (b) and interest for Base Rate Committed Loans when the Base Rate is determined by BofA's "reference rate" the prime commercial rate of BMO and all computations of Facility Fees shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more interest being paid than if computed on the basis of a 365-day year). Interest and fees shall accrue during each Interest Period or other period during which interest or such fees are computed from the first day thereof to but excluding the last day thereof.

Appears in 1 contract

Samples: Credit Agreement (Phoenix Companies Inc/De)

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Computation of Fees and Interest. (a) All computations of facility fees under Section 2.12 (b) and interest for payable in respect of Base Rate Committed Loans when at all times that the Base Rate is determined by BofA's "reference rate" shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest under this Agreement shall be made on the basis of a 360-day year and actual days elapsed (elapsed, which results in more interest being paid than if computed on the basis of a 365-365- day year). Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof.

Appears in 1 contract

Samples: Revolving Credit Agreement (Plum Creek Timber Co Inc)

Computation of Fees and Interest. (a) All computations of facility fees under Section 2.12 (b) and interest for Base Rate Committed Loans when the Base Rate is determined by BofA's "reference rate" the prime commercial rate of BMO and all computations of the Facility Fees and usage fees shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more interest being paid than if computed on the basis of a 365-day year). Interest and fees shall accrue during each Interest Period or other period during which interest or such fees are computed from the first day thereof to but excluding the last day thereof.

Appears in 1 contract

Samples: Credit Agreement (Phoenix Companies Inc/De)

Computation of Fees and Interest. (a) All computations of facility all fees under Section 2.12 (b) hereunder and of interest for Base Rate Committed Loans when the Base Rate is determined by BofA's "reference rate" shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more interest being paid than if computed on the basis of a 365-day year). Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof.

Appears in 1 contract

Samples: Credit Agreement (System Software Associates Inc)

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