Loan Interest Rate. Borrower shall pay to Bank interest on the outstanding principal balance of all Advances obtained under the Line of Credit. The interest rate shall be the Loan Interest Rate. The Loan Interest Rate may change from time to time and the interest payable on the outstanding principal balance will fluctuate with changes in the Loan Interest Rate. Interest shall be computed daily on the basis of a 360 day year and charged on the number of actual days Advances are outstanding.
Appears in 3 contracts
Samples: Line of Credit Loan Agreement (Magellan Technology Inc), Line of Credit Loan Agreement (Zevex International Inc), Line of Credit Loan Agreement (Zevex International Inc)
