Actual/360 Basis definition

Actual/360 Basis means on the basis of a 360-day year and charged on the basis of actual days elapsed for any whole or partial month in which interest is being calculated.

Actual/360 Basis means that the annualized distribution rate, interest rate or dividend rate, as the case may be, accrues or is calculated from and including the prior payment date (or December 10, 2004, in the case of the first payment date) to but excluding the current payment date, and is computed on the basis of actual days elapsed and a 360-day year.

Actual/360 Basis means, for purposes of calculating the rate of Distributions, such rate calculated on the basis of a 360-day year and the number of days actually elapsed.

More Definitions of Actual/360 Basis

Actual/360 Basis means the accrual of interest calculated on the basis of the actual number of days elapsed during any Security Interest Accrual Period in a year assumed to consist of 360 days.

Actual/360 Basis means the actual number of days in the Distribution Period divided by 360;

Actual/360 Basis means the calculation of interest on the basis of the actual number of days elapsed and a 360 day year.

Actual/360 Basis means the accrual of interest calculated on the basis of the actual number of days elapsed during the relevant period in a year consisting of 360 days.

Actual/360 Basis means, when used with respect to any interest, fee or rate of return calculation, that such interest, fee or rate of return shall be calculated on the basis of a 360-day year and the actual number of days elapsed.