Common use of Interest Rate Computations Clause in Contracts

Interest Rate Computations. All interest hereunder shall be computed on the basis of a year of 360 days (or 365/366 days, in the case of an ABR Loan), unless such computation would exceed the Highest Lawful Rate, in which case interest shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate, Adjusted LIBO Rate or the LIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error, and be binding upon the parties hereto.

Appears in 2 contracts

Samples: Credit Agreement (Synergy Resources Corp), Credit Agreement (Synergy Resources Corp)

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Interest Rate Computations. All interest hereunder shall be computed on the basis of a year of 360 days (or 365/366 days, in the case of an ABR Loan), unless such computation would exceed the Highest Lawful Rate, in which case interest shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate, Adjusted LIBO Rate or the LIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error, and be binding upon the parties hereto.

Appears in 2 contracts

Samples: Credit Agreement (Northern Oil & Gas, Inc.), Credit Agreement (Northern Oil & Gas, Inc.)

Interest Rate Computations. All interest hereunder shall be computed on the basis of a year of 360 days (or 365/366 days, in the case of an ABR Loan), unless such computation would exceed the Highest Lawful Rate, in which case interest shall be computed on the basis of a year of 365 days (or 366 days in a leap year), ) and in each case shall be payable for the actual number of days elapsed (initial Borrowing, including the first day but excluding of the last day)Borrowing to the Interest Payment Date, and thereafter from the Interest Payment Date to the next Interest Payment Date. The applicable Alternate Base Rate, Adjusted LIBO Rate or the LIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error, and be binding upon the parties hereto.

Appears in 2 contracts

Samples: Term Loan Credit Agreement (Rex Energy Corp), Term Loan Credit Agreement (Rex Energy Corp)

Interest Rate Computations. All interest hereunder shall be computed on the basis of a year of 360 days (or 365/366 days, in the case of an ABR Revolving Credit Loan or Swing Line Loan), unless such computation would exceed the Highest Lawful Rate, in which case interest shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate, Adjusted LIBO Rate or the Adjusted LIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error, and be binding upon the parties hereto.

Appears in 1 contract

Samples: Credit Agreement (SRC Energy Inc.)

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Interest Rate Computations. All interest hereunder shall be computed on the basis of a year of 360 days (or 365/366 days, in the case of an ABR Loan), unless such computation would exceed the Highest Lawful Rate, in which case interest shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate, Adjusted LIBO Rate or the LIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error, and be binding upon the parties hereto.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Battalion Oil Corp)

Interest Rate Computations. All interest hereunder shall be computed on the basis of a year of 360 days (or 365/366 days, in the case of an ABR Loan), unless such computation would exceed the Highest Lawful Rate, in which case interest shall be computed on the basis of a year of 365 days (or 366 days in a leap year), ) and in each case shall be payable for the actual number borrowing of days elapsed (the Initial Term Loans on the Effective Date, including the first day but excluding of the last day)Borrowing to the Interest Payment Date, and thereafter from the Interest Payment Date to the next Interest Payment Date. The applicable Alternate Base Rate, Adjusted LIBO Rate or the LIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error, and be binding upon the parties hereto.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Northern Oil & Gas, Inc.)

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