Common use of Interest and Fee Calculations Clause in Contracts

Interest and Fee Calculations. All payments of interest and fees shall be calculated on the basis of actual number of days (including the first day but excluding the last day) elapsed during the period for which such interest or fee is payable but computed as if each calendar year consisted of 360 days, provided that the Base Rate shall be computed on the basis of a calendar year of 365 (or 366, as the case may be) days.

Interest and Fee Calculations. All payments of interest and fees shall be calculated on the basis of actual number of days (including the first day but excluding the last day) elapsed during the period for which such interest or fee is payable but computed as if each calendar year consisted of 360 days, provided provided, however, that the Base Rate shall be computed on the basis of a calendar year of 365 (or 366, as the case may be) days.