Common use of Interest Calculation Method Clause in Contracts

Interest Calculation Method. Interest on the Notes shall be computed on a 365/360 basis; that is, by applying the ratio of the interest rate over a year of 360 days, multiplied by the outstanding principal balance, multiplied by the actual number of days the principal balance is outstanding. All interest payable under the Notes shall be computed using this method. This calculation method results in a higher effective interest rate than the numeric interest rate stated herein.

Appears in 1 contract

Samples: Credit and Security Agreement (Landec Corp \Ca\)

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Interest Calculation Method. Interest on the Notes shall be this Note is computed on a 365/360 basis; that is, by applying the ratio of the interest rate over a year of 360 days, multiplied by the outstanding principal balance, multiplied by the actual number of days the principal balance is outstanding. All interest payable under the Notes shall be this Note is computed using this method. This calculation method results in a higher effective interest rate than the numeric interest rate stated herein.7. Prepayment; Minimum Interest Charge. In any event, even upon full

Appears in 1 contract

Samples: Revolving Credit Note (Air T Inc)

Interest Calculation Method. Interest on the Notes shall be this Note is computed on a 365/360 basis; that is, is by applying the ratio of the interest rate Interest Rate over a year of 360 days, days multiplied by the outstanding principal balance, multiplied by the actual number of days the principal balance is outstanding. All interest payable under the Notes shall be this Note is computed using this method. This calculation method results in a higher effective interest rate than the numeric interest rate stated herein.If any payment to be made by the

Appears in 1 contract

Samples: Term Note (Air T Inc)

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Interest Calculation Method. Interest on the Notes shall be this Note is computed on a 365/360 basis; that is, is by applying the ratio of the interest rate Interest Rate over a year of 360 days, days multiplied by the outstanding principal balance, multiplied by the actual number of days the principal balance is outstanding. All interest payable under the Notes shall be computed using this method. This calculation method results in a higher effective interest rate than the numeric interest rate stated herein.All

Appears in 1 contract

Samples: Term Note (Air T Inc)

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