Common use of Computations of Interest and Discounts Clause in Contracts

Computations of Interest and Discounts. All computations of interest on Eurodollar Loans and Swing Loans hereunder shall be made on the actual number of days elapsed over a year of 360 days, all computations of interest on CDOR Loans hereunder shall be made on the actual number of days elapsed over a year of 365 days and all computations of interest on Base Rate Loans and Unpaid Drawings hereunder shall be made on the actual number of days elapsed over a year of 365 or 366 days, as applicable. For purposes of this Agreement, whenever interest to be paid on a Canadian Revolving Loan is to be calculated on the basis of a period of time that is less than a calendar year, the yearly rate of interest to which the rate determined pursuant to such calculation is equivalent is the rate so determined multiplied by the actual number of days in the calendar year in which the same is to be ascertained and divided by such lesser period of time.

Computations of Interest and Discounts. All computations of interest on Eurodollar Fixed Rate Loans (other than BA Equivalent Loans) and Swing Loans hereunder shall be made on the actual number of days elapsed over a year of 360 days, all computations of interest on CDOR Loans hereunder shall be made on the actual number of days elapsed over a year of 365 days and all computations of interest on Base Rate Loans and Unpaid Drawings hereunder shall be made on the actual number of days elapsed over a year of 365 or 366 days, as applicable, and all computations of the Applicable BA Discount Rate with respect to BA Equivalent Loans shall be made on the actual number of days elapsed in a year of 365 days. For purposes of this Agreement, whenever interest to be paid on a Canadian Revolving Loan is to be calculated on the basis of a period of time that is less than a calendar year, the yearly rate of interest to which the rate determined pursuant to such calculation is equivalent is the rate so determined multiplied by the actual number of days in the calendar year in which the same is to be ascertained and divided by such lesser period of time.