Actual/360 Day Basis definition

Actual/360 Day Basis means a method of computing interest and other charges on the basis of an assumed year of 360 days for the actual number of days elapsed, meaning that the interest accrued for each day will be computed by multiplying the interest rate applicable on that day by the unpaid principal balance on that day and dividing the result by 360.
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Actual/360 Day Basis means a method of computing interest on the basis of an assumed year of 360 days for the actual number of days elapsed, meaning that the interest accrued for each day will be computed by multiplying the interest rate applicable on that day by the unpaid principal balance on that day and dividing the result by 360.
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Actual/360 Day Basis means the accrual of interest calculated on the basis of the actual number of days elapsed in the applicable Interest Accrual Period divided by 360.
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Examples of Actual/360 Day Basis in a sentence

  • The Availability Fee shall be computed on an Actual/360 Day Basis.

  • The Availability Fee shall not be refundable under any circumstances and shall be computed on an Actual/360 Day Basis.

  • Each LIBOR-Based Rate Segment shall bear interest from the date the LIBOR-Based Rate becomes applicable thereto until the end of the applicable Interest Period on the unpaid principal balance of such LIBOR- Based Rate Segment at the LIBOR-Based Rate on an Actual/360 Day Basis.

  • In addition to principal, the Borrower agrees to pay interest, and this Note shall bear interest on the unpaid principal balance hereof, on an Actual/360 Day Basis, from the date hereof until payment in full at an annual fixed rate of interest equal to 4.06% (the "Note Rate").

  • The interest and charges provided for in this Agreement based upon annual rates shall be computed on an Actual/360 Day Basis.

  • Each LIBOR-Based Rate Segment shall bear interest from the date the LIBOR-Based Rate becomes applicable thereto until the end of the applicable Interest Period on the unpaid principal balance of such LIBOR-Based Rate Segment at the LIBOR-Based Rate on an Actual/360 Day Basis.

  • Such fee shall be payable in advance on the date of issuance or renewal, as the case may be, and shall not be refundable under any circumstances and shall be calculated on an Actual/360 Day Basis.

  • All computations of interest at the Series 2023-1 Class A-1 Note Rate shall be made on an Actual/360 Day Basis.

  • All computations of interest at the Series 2023-1 Class A-2 Note Rate shall be made on an Actual/360 Day Basis.