Interest determination. 5.1. Interest shall accrue for each Interest Period on the Facility Outstandings at the Interest Rate. 5.2. Such interest shall accrue and be calculated on a daily basis and shall be calculated on the actual number of days elapsed and on the basis of a 365 day year, irrespective of whether or not the applicable year is a leap year. 5.3. Accrued interest which is not paid on an Interest Payment Date shall be compounded.
Appears in 4 contracts
Samples: Term Loan Facility Agreement (Plandai Biotechnology, Inc.), Term Loan Facility Agreement (Plandai Biotechnology, Inc.), Revolving Loan Facility Agreement (Plandai Biotechnology, Inc.)
