Common use of Computation Clause in Contracts

Computation. All interest and fees chargeable under the Loan Documents shall be computed on the basis of a 360-day year or, in the case of Base Rate Loans (or any fees or expenses based on the Base Rate), on the basis of a 365-day year or 366-day year, as applicable, 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.

Appears in 9 contracts

Samples: Asset Based Revolving Credit Agreement (Cleveland-Cliffs Inc.), Asset Based Revolving Credit Agreement (Cleveland-Cliffs Inc.), Asset Based Revolving Credit Agreement (Cleveland-Cliffs Inc.)

AutoNDA by SimpleDocs

Computation. All interest and fees chargeable under the Loan Documents shall be computed on the basis of a 360-day year or, in the case of Base Rate Loans (or any fees or expenses based on the Base Rate), on the basis of a 365-day year or 366-360 day year, as applicable, in each case, for the actual number of days elapsed in the period during which the interest or fees accrue, other than for Base Rate Loans which shall be calculated on the basis of 365 or 366 day year, as applicable, and actual days elapsed. 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.

Appears in 4 contracts

Samples: Credit Agreement (Kronos Worldwide Inc), Credit Agreement (Falcon Capital Acquisition Corp.), Credit Agreement (Falcon Capital Acquisition Corp.)

Computation. All interest and fees chargeable under the Loan Documents shall be computed on the basis of a 360-day year for the actual number of days elapsed (or, in the case of Base Rate Loans which accrue interest by reference to clause (or any fees or expenses based on c) of the definition of Base Rate), on the basis of a 365-day year or 366-day year, as applicable, in each case, for the actual number of days elapsed in the period during which the interest or fees accrueelapsed). 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.

Appears in 3 contracts

Samples: Loan and Security Agreement (Hercules Capital, Inc.), Loan and Security Agreement (Hercules Capital, Inc.), Loan and Security Agreement (Hercules Capital, Inc.)

Computation. All interest and fees (other than with respect to Base Rate Loans) chargeable under the Loan Documents shall be computed on the basis of a 360-360 day year or, in the case of Base Rate Loans (or any fees or expenses based on the Base Rate), on the basis of a 365-day year or 366-day year, as applicable, in each case, for the actual number of days elapsed. Interest with respect to Base Rate Loans hereunder shall be calculated on the actual number of days elapsed in the period during which the interest over a year of 365 or fees accrue366 days, as applicable. 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.

Appears in 3 contracts

Samples: Credit Agreement (Sanfilippo John B & Son Inc), Credit Agreement (Sanfilippo John B & Son Inc), Credit Agreement (Sanfilippo John B & Son Inc)

Computation. All interest and fees chargeable under the Loan Documents shall be computed on the basis of a three hundred sixty (360-) day year or(or three hundred sixty-five (365) or three hundred sixty-six (366) days, in the case of Advances for which the Base Rate Loans (or any fees or expenses based on the Base Rateis used), on the basis of a 365-day year or 366-day year, as applicable, 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.

Appears in 3 contracts

Samples: Credit Agreement (VOXX International Corp), Credit Agreement (VOXX International Corp), Credit Agreement (Audiovox Corp)

Computation. All interest and fees chargeable under the Loan Documents shall be computed on the basis of a 360-day year or, in the case of Base Rate Loans (or any fees or expenses based on the Base Rate), on the basis of a 365-day year or 366-360 day year, as applicable, in each case, for the actual number of days elapsed in the period during which the interest or fees accrue; provided that Base Rate Loans bearing interest based on the “prime rate” shall be calculated on the basis of a 365 day year (or a 366 day year, in the case of a leap year). 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.

Appears in 3 contracts

Samples: Credit Agreement (Horizon Lines, Inc.), Credit Agreement (Horizon Lines, Inc.), Credit Agreement (Exide Technologies)

Computation. All interest and fees chargeable under the Loan Documents shall be computed on the basis of a 360-360 day year or, or in the case of Base Rate Loans (or any fees or expenses based on the Base Rate)only, on the basis of a 365-365 or 366 day year or 366-day year, (as applicablethe case may be), 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.

Appears in 3 contracts

Samples: Credit Agreement (WABASH NATIONAL Corp), Credit Agreement (Wabash National Corp /De), Credit Agreement (Wabash National Corp /De)

Computation. All interest and fees chargeable under the Loan Documents shall be computed on the basis of a 360-day year or, in the case of Base Rate Loans (or any fees or expenses based on the Base Rate), on the basis of a 365-day year or 366-360 day year, as applicable, in each case, for the actual number of days elapsed in the period during which the interest or fees accrueaccrue (other than for Base Rate Loans which shall be calculated on the basis of 365 or 366 day year, as applicable, and actual days elapsed). 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.

Appears in 2 contracts

Samples: Credit Agreement (Ranger Energy Services, Inc.), Credit Agreement (Ranger Energy Services, Inc.)

Computation. All interest and fees (other than pursuant to Section 2.6(b)) chargeable under the Loan Documents shall be computed on the basis of a 360-365 day year (or, in the case of Base LIBOR Rate Loans (or any and fees or expenses based on the Base Ratepursuant to Section 2.6(b), on the basis of a 365-day year or 366-360 day year, as applicable), 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.

Appears in 2 contracts

Samples: Credit Agreement (Watsco Inc), Credit Agreement (Watsco Inc)

Computation. All interest and fees chargeable under the Loan Documents shall be computed on the basis of a 360-360 day year year, or, in the case of Base Rate Loans (or any fees or expenses based on the Base Rate)only, on the basis of a 365-365 or 366 day year or 366-day year, (as applicablethe case may be), 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.

Appears in 2 contracts

Samples: Credit Agreement (Tessco Technologies Inc), Credit Agreement (Tessco Technologies Inc)

Computation. All interest and fees chargeable under the Loan Documents shall be computed on the basis of a 360-day year or, in the case of Base Rate Loans (or any fees or expenses based on the Base Rate), on the basis of a 365-day year or 366-360 day year, as applicable, in each case, for the actual number of days elapsed in the period during which the interest or fees accrue; provided that the per annum interest rate with respect to Base Rate Loans shall be calculated on the basis of a year of 365/366 days and the actual number of days elapsed in the period during which the interest accrues. 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.

Appears in 2 contracts

Samples: Credit Agreement (Jda Software Group Inc), Credit Agreement (Jda Software Group Inc)

Computation. All interest and fees chargeable under the Loan Documents shall be computed on the basis of a 360-360 day year or, in (except that computations based upon reference to the case of Base Rate Loans based upon clause (or any fees or expenses c) of the definition thereof shall be computed based on the Base Rate), on the basis of a 365-day year (or 366-day year in a leap year, as applicable)), in each case, for the actual number of days elapsed in the period during which the interest or fees accrue. In the event If 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.

Appears in 2 contracts

Samples: Credit Agreement (H&E Equipment Services, Inc.), Credit Agreement (H&E Equipment Services, Inc.)

Computation. All interest and fees chargeable under the Loan Documents shall be computed on the basis of a 360-360 day year or(or 365 days (or 366 days in a leap year), as the case may be, in the case of Revolving Loans for which the Base Rate Loans (or any fees or expenses based on the Base Rateis used), on the basis of a 365-day year or 366-day year, as applicable, 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.

Appears in 2 contracts

Samples: Credit Agreement (BlueLinx Holdings Inc.), Credit Agreement (BlueLinx Holdings Inc.)

Computation. All interest and fees chargeable under the Loan Documents shall be computed on the basis of a 360-360 day year oryear, in except that interest computed by reference to the case of Base Rate Loans (or any fees or expenses based on the Base Rate), shall be computed on the basis of a 365-day year of 365 days (or 366-day 366 days in a leap year), as applicableand, 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.

Appears in 2 contracts

Samples: Credit Agreement (Comtech Telecommunications Corp /De/), Term Loan Agreement (Comtech Telecommunications Corp /De/)

Computation. All interest and fees chargeable under the Loan Documents shall be computed on the basis of a 360-day year or, in the case of Base Rate Loans (or any fees or expenses based on the Base Rate), on the basis of a 365-day year or 366-360 day year, as applicable, in each case, for the actual number of days elapsed in the period during which the interest or fees accrue. Interest shall be calculated on the basis of a 360 day year and actual days elapsed, other than for Base Rate Loans which shall be calculated on the basis of 365 or 366 day year, as applicable, and actual days elapsed. 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.

Appears in 2 contracts

Samples: Credit Agreement (Quantum Corp /De/), Credit Agreement (Quantum Corp /De/)

Computation. All interest and fees chargeable under the Loan Documents shall be computed on the basis of a 360-day year or, in the case of Base Rate Loans (or any fees or expenses based on the Base Rate), on the basis of a 365-day year or 366-360 day year, as applicable, in each case, for the actual number of days elapsed in the period during which the interest or fees accrue, other than interest for Base Rate Loans which shall be calculated on the basis of 365 or 366 day year, as applicable, and actual days elapsed (including the first day but excluding the last day). 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.

Appears in 2 contracts

Samples: Credit Agreement (AdvancePierre Foods Holdings, Inc.), Credit Agreement (AdvancePierre Foods Holdings, Inc.)

AutoNDA by SimpleDocs

Computation. All interest and fees chargeable under the Loan Documents shall be computed on the basis of a 360-day year or, in the case of Base Rate Loans (or any fees or expenses based on the Base Rate), on the basis of a 365-day year or 366-360 day year, as applicable, in each case, for the actual number of days elapsed in the period during which the interest or fees accrue, other than interest for Base Rate Loans which shall be calculated on the basis of 365- or 366- day year, as applicable, and actual days elapsed. 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.

Appears in 1 contract

Samples: Credit Agreement (Accuride Corp)

Computation. All interest and fees chargeable under the Loan Documents shall be computed on the basis of a 360-360 day year or, in the case of Base Rate Loans (or any fees or expenses other than amounts that accrue interest based on the Base Rate), Rate which shall be calculated on the basis of a 365-day year 365 or 366-366 day year, as applicable, and actual days elapsed), 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.

Appears in 1 contract

Samples: Debtor in Possession Credit Agreement (McClatchy Co)

Computation. All interest and fees chargeable under the Loan Documents shall be computed on the basis of a 360-day year or, in the case of Base Rate Loans (or any fees or expenses based on the Base Rate), on the basis of a 365-day year or 366-360 day year, as applicable, in each case, for the actual number of days elapsed in the period during which the interest or fees accrue; provided, that the per annum interest rate with respect to Base Rate Loans shall be calculated on the basis of a 365 or 366 day year, as applicable, and the actual number of days elapsed in the period during which the interest accrues. 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.

Appears in 1 contract

Samples: Credit Agreement (Silicon Graphics International Corp)

Computation. All interest and fees chargeable under the Loan Documents shall be computed on the basis of a 360-day year or, in the case of Base Rate Loans (or any fees or expenses based on the Base Rate), on the basis of a 365-day year or 366-360 day year, as applicable, in each case, for the actual number of days elapsed in the period during which the interest or fees accrue; provided that Base Rate Loans, shall, in each case, be calculated on the basis of a 365 day year (or a 366 day year, in the case of a leap year). 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.

Appears in 1 contract

Samples: Credit Agreement (Kronos Worldwide Inc)

Computation. All interest (other than for Base Rate Loans) and fees chargeable under the Loan Documents shall be computed on the basis of a 360-day year or, in the case of Base Rate Loans (or any fees or expenses based on the Base Rate), on the basis of a 365-day year or 366-360 day year, as applicable, in each case, for the actual number of days elapsed in the period during which the interest or fees accrue. Interest for Base Rate Loans shall be calculated on the basis of 365 or 366 day year, as applicable, and actual days elapsed. 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.

Appears in 1 contract

Samples: Credit Agreement (Medical Action Industries Inc)

Computation. All interest and fees chargeable under the Loan Documents shall be computed on the basis of a 360-day year oryear, in the case of other than interest on Base Rate Loans (or any fees or expenses based on the Base Rate)Loans, which shall be computed on the basis of a 365-day year or 366-day year, as applicable, 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.

Appears in 1 contract

Samples: Term Loan Agreement (BOISE CASCADE Co)

Computation. All interest and fees chargeable under the Loan Documents shall be computed on the basis of a 360-360 day year or, in the case of (other than interest for Base Rate Loans (or any fees or expenses based on the Base Rate), which shall be calculated on the basis of a 365-day year 365 or 366-366 day year, as applicable), 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.

Appears in 1 contract

Samples: Credit Agreement (Weatherford International PLC)

Computation. All interest and fees chargeable under the Loan Documents shall be computed on the basis of a 360-day year or, in the case of Base Rate Loans (or any fees or expenses based on the Base Rate), on the basis of a 365-day year or 366-360 day year, as applicable, in each case, for the actual number of days elapsed in the period during which the interest or fees accrue; provided that interest for the Base Rate Loans shall be computed on the basis of a 365 or 366 day year, as applicable, for the actual number of days elapsed in the period during which such interest accrues. 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.

Appears in 1 contract

Samples: Credit Agreement (Diamond Foods Inc)

Computation. All interest (including, but not limited to, interest due in respect to the Term Loan) and fees chargeable under the Loan Documents shall be computed on the basis of a 360-360 day year or, in the case of Base Rate Loans (or any fees or expenses based on the Base Rate), on the basis of a 365-day year or 366-day year, as applicable, in each case, for the actual number of days elapsed in the period during which the interest or fees accrueelapsed. 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.

Appears in 1 contract

Samples: Loan and Security Agreement (Big Dog Holdings Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!