Interest Calculation Convention Sample Clauses
The Interest Calculation Convention clause defines the method by which interest is computed on outstanding amounts under an agreement. It typically specifies the basis for calculation, such as whether interest accrues on a daily, monthly, or annual basis, and may detail conventions like actual/360 or actual/365 day counts. This clause ensures both parties have a clear and consistent understanding of how interest will be calculated, thereby preventing disputes and ensuring transparency in financial obligations.
Interest Calculation Convention. All calculations of interest hereunder that are made with respect to the Notes shall be made on the basis of the actual number of days during the related Interest Accrual Period divided by 360.
Interest Calculation Convention. All calculations of interest hereunder that are made with respect to the Notes shall be made on the basis of the actual number of days during the related Interest Accrual Period divided by three hundred sixty (360). All calculations of the Advancing Agent Fee in respect of any Payment Date shall be made on the basis of the actual number of days during the period from (and including) the immediately preceding Payment Date to (but excluding) such Payment Date, divided by three hundred sixty (360).
Interest Calculation Convention. All calculations of interest and fees (other than the Class A-1R Commitment Fees) hereunder that are made with respect to the Notes shall be made on the basis of the actual number of days during the related Interest Accrual Period divided by 360.
Interest Calculation Convention. All calculations of interest hereunder that are made with respect to the Notes shall be made on the basis of a 360-day year comprised of twelve (12) 30-day months.
Interest Calculation Convention. All calculations of interest hereunder that are made with respect to the Floating Rate Notes shall be made on the basis of the actual number of days during the related Interest Accrual Period divided by 360. All calculations of interest hereunder that are made with respect to the Fixed Rate Notes shall be made on the basis of the actual number of days during the related Interest Accrual Period (based on a year of twelve 30-day months) divided by 360.