Common use of COMPUTATION OF INTEREST AND FEES; DEFAULT RATE Clause in Contracts

COMPUTATION OF INTEREST AND FEES; DEFAULT RATE. Interest on Loans and commitment and other fees and charges hereunder shall be computed on the basis of a year having three hundred sixty (360) days and calculated for the actual number of days elapsed. Anything herein to the contrary notwithstanding, if an Event of Default shall occur hereunder, (a) the principal of each Note and the unpaid interest thereon shall bear interest, until paid, at the Default Rate; and (b) the fee for the aggregate undrawn face amount of issued and outstanding Letters of Credit shall be increased to two percent (2%) in excess of the then applicable fee from time to time in effect pursuant to subpart (a) of Section 2.1B hereof. In no event shall the rate of interest hereunder exceed the rate allowable by law.

COMPUTATION OF INTEREST AND FEES; DEFAULT RATE. Interest on Loans and commitment facility and other fees and charges hereunder shall be computed on the basis of a year having three hundred sixty (360) days and calculated for the actual number of days elapsed. Anything herein to the contrary notwithstanding, if an Event of Default shall occur hereunder, (a) the principal of each Note and the unpaid interest thereon shall bear interest, until paid, at the Default Rate; and (b) the fee for the aggregate undrawn face amount of all issued and outstanding Letters of Credit shall be increased to two percent (2%) in excess of the then applicable fee free from time to time in effect pursuant to subpart (a) of Section 2.1B 2.1C hereof. In no event shall the rate of interest hereunder exceed the rate allowable by law.

COMPUTATION OF INTEREST AND FEES; DEFAULT RATE. Interest on Loans Loans, Related Expenses and commitment and other fees and charges hereunder shall be computed on the basis of a year having three hundred sixty (360) days and calculated for the actual number of days elapsed. Anything herein to the contrary notwithstanding, if an Event of Default shall occur hereunder, (a) the principal of each Note and the unpaid interest thereon shall bear interest, until paid, at the Default Rate; and (b) the fee for the aggregate undrawn face amount of all issued and outstanding Letters of Credit shall be increased from the fee then in effect to two percent (2%) in excess of the then applicable fee from time to time in effect pursuant to subpart (a) of Section 2.1B hereof). In no event shall the rate of interest hereunder exceed the rate allowable by law.