Computation of Interest and Fees Maximum Interest Rate. (a) All interest and fees chargeable under the Loan Documents shall be computed on the basis of a 360-day year (or a 365-day year or 366-day year, as the case may be, for Base Rate Loans), in each case, for the actual number of days elapsed in the period during which the interest or fees accrue. In the event the Base Rate is changed from time to time hereafter, the rates of interest hereunder based upon the Base Rate automatically and immediately shall be increased or decreased by an amount equal to such change in the Base Rate. Interest shall accrue from the first day of the making of a Loan (or the date on which interest or fees or other payments are due hereunder, if applicable) to (but not including) the date of repayment of such Loan (or the date of the payment of interest or fees or other payments, if applicable) in accordance with the provisions hereof.
Appears in 5 contracts
Samples: Loan and Security Agreement (FS Credit Real Estate Income Trust, Inc.), Credit Agreement (Kayne DL 2021, Inc.), Loan and Security Agreement (FS Credit Real Estate Income Trust, Inc.)
