Method of Calculating Interest and Fees. Interest on the unpaid principal amount of each Loan shall accrue from and including the date such Loan is made to, but not including, the date such Loan is paid. Interest and any fees shall be calculated on the basis of a year consisting of 360 days and paid for actual days elapsed. All determinations by Lender of the rate of interest applicable to any Loan shall be rebuttable presumptive evidence of the applicable interest rate for such Loan.
Appears in 4 contracts
Samples: Loan and Security Agreement (Elxsi Corp /De//), Loan and Security Agreement (Elxsi Corp /De//), Loan and Security Agreement (Elxsi Corp /De//)
Method of Calculating Interest and Fees. Interest on the unpaid principal amount of each Loan shall accrue from and including the date such Loan is made to, but not including, the date such Loan is paid. Interest and any fees shall be calculated on the basis of a year consisting of 360 days and paid for actual days elapsed. All determinations by Lender of the rate of interest applicable to any Loan shall be rebuttable presumptive evidence of the applicable interest rate for such Loan.
Appears in 2 contracts
Samples: Loan and Security Agreement (Elxsi Corp /De//), Loan and Security Agreement (Elxsi Corp /De//)
