Actual/365 Basis definition

Actual/365 Basis. The accrual of interest calculated on the basis of the actual number of days elapsed during any calendar month (or other applicable accrual period) in a year assumed to consist of 365 days.
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Actual/365 Basis means on the basis of a 365/366-day year and charged on the basis of actual days elapsed for any period for which interest or any other applicable amount is calculated.
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Examples of Actual/365 Basis in a sentence

  • All calculations of interest (i) with respect to interest calculated based on the Adjusted LIBO Rate, shall be computed on an Actual/360 Basis (which results in more interest being paid than if computed on a 30/360 Basis), and (ii) with respect to interest calculated based on the Base Rate, shall be computed on an Actual/365 Basis.

  • The Note Rate shall be calculated on a 30/360 Basis, except where the Closing Date is not the first (1st) day of a calendar month in which case the Interest Rate for the period from and including the Closing Date to and including the last day of the calendar month in which the Closing Date occurs shall be calculated on an Actual/365 Basis.

Related to Actual/365 Basis

  • Actual/360 Basis The accrual of interest on the basis of the actual number of days elapsed during any relevant accrual period in a year assumed to consist of 360 days.

  • Actual/365 (Fixed) means that interest or any other relevant accrual factor shall be calculated on the basis of the actual number of days elapsed in a year of 365 days, regardless of whether accrual or payment occurs during a calendar leap year.

  • Actual/360 means that interest is calculated on the basis of the actual number of days elapsed in a year of 360 days.

  • Actual weight means the actual unladen weight of a vehicle or combination of

  • 30/360 Basis The accrual of interest calculated on the basis of a 360-day year consisting of twelve 30-day months.