Method for Calculating Interest Clause Samples
Method for Calculating Interest. All interest payable on the Loans and other Obligations shall be calculated on the basis of a 360-day year by multiplying the applicable, outstanding principal amount by the applicable per annum rate, multiplying the product thereof by the actual number of days elapsed, and dividing the product so obtained by 360.
Method for Calculating Interest. 33 4.8 No Requirement to Actually Obtain Funds...............................................33 4.9 Usury Limitation......................................................................33 Article V........................................................................................................33 5.
Method for Calculating Interest. All interest payable under the Note, except for interest calculated at the Base Rate, shall be calculated on the basis of a 360-day year by multiplying the applicable, outstanding principal amount by the applicable per annum rate, multiplying the product thereof by the actual number of days elapsed, and dividing the product so obtained by 360.