Interest on Loans; Terms of Loan Agreements. (a) Each of the Loans shall bear interest at the Borrower Rate specified by the Sponsor in the applicable Funding Approval Notice and interest on the Loans shall be calculated based upon the actual number of days elapsed in a 360-day year.
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Samples: Servicing Agreement (Aaron's Inc), Servicing Agreement (Aaron's Inc)
Interest on Loans; Terms of Loan Agreements. (a) Each of the Loans shall bear interest at the Borrower Rate specified by the Sponsor in the applicable Funding Approval Notice and interest on the Loans shall be calculated based upon the actual number of days elapsed in a 360-360 day year.
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Interest on Loans; Terms of Loan Agreements. (a) Each of the Loans shall bear interest at the Borrower Rate specified by the Sponsor in the applicable Funding Approval Notice and interest on the Loans shall be calculated based upon the actual number of days elapsed in a 360-365 or 366 day year.
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