Per Annum Calculations. Unless otherwise stated, wherever in this Agreement or any other Loan Document reference is made to a rate of interest “per annum” or a similar expression is used, such interest shall be calculated using the nominal rate method, and not the effective rate method, of calculation and on the basis of a calendar year of 365 days or 366 days, as the case may be.
Appears in 2 contracts
Samples: Credit Agreement (Focus Ventures Ltd.), Credit Agreement (Kimber Resources Inc.)
Per Annum Calculations. Unless otherwise stated, wherever in this Agreement or any other Loan Document reference is made to a rate of interest “per annum” or a similar expression is used, such interest shall be calculated using the nominal rate method, and not the effective rate method, of calculation and on the basis of a calendar year of 365 days or 366 days, as the case may be, unless otherwise specified herein.
Appears in 1 contract
Samples: Credit Agreement (Geokinetics Inc)
Per Annum Calculations. Unless otherwise stated, wherever in this Agreement or any other Loan Document reference is made to a rate of interest “"per annum” " or a similar expression is used, such interest shall be calculated using the nominal rate method, and not the effective rate method, of calculation and on the basis of a calendar year of 365 days or 366 days, as the case may be.
Appears in 1 contract
Samples: Loan Agreement Amending Agreement (Adb Systems International LTD)
