Common use of Accrual Method Clause in Contracts

Accrual Method. Unless otherwise indicated, interest at the Rate set forth above will be calculated by the 365/360 day method (a daily amount of interest is computed for a hypothetical year of 360 days; that amount is multiplied by the actual number of days for which any principal is outstanding hereunder).

Appears in 22 contracts

Sources: Loan Agreement (Tor Minerals International Inc), Loan Agreement (Tor Minerals International Inc), Loan Agreement (Tor Minerals International Inc)

Accrual Method. Unless otherwise indicated, interest Interest at the Rate set forth above will be calculated by the 365/360 day method (a daily amount of interest is computed for a hypothetical year of 360 days; that amount is multiplied by the actual number of days for which any principal is outstanding hereunder).

Appears in 3 contracts

Sources: Loan Agreement (Cpac Inc), Loan Agreement (Cooker Restaurant Corp /Oh/), Loan Agreement (Cpac Inc)

Accrual Method. Unless otherwise indicated, interest at the Interest Rate set forth above will be calculated by the 365/360 actual/360-day method (a daily amount of interest is computed for a hypothetical year of 360 days; that amount is multiplied by the actual number of days for which any principal Principal is outstanding hereunder).

Appears in 2 contracts

Sources: Revolving Credit Note (Integrated Living Communities Inc), Revolving Credit Note (Integrated Health Services Inc)

Accrual Method. Unless otherwise indicated, interest at the Rate set forth above will be calculated by the 365/360 day method (a daily amount of interest is computed for a hypothetical year of 360 days; that amount is multiplied by the actual number of days for which any principal is outstanding hereunder). Rate Change Date. Any Rate based on a fluctuating index or base rate will change, unless otherwise provided, each time and as of the date that the index or base rate changes.

Appears in 1 contract

Sources: Loan Agreement (Tor Minerals International Inc)

Accrual Method. Unless otherwise indicated, interest at the Rate set forth above will be calculated by the 365/360 day method (a daily amount of interest is computed for a hypothetical year of 360 days; that amount is multiplied by the actual number of days for which any principal is outstanding hereunder).. If interest is not to be computed using this method, the method shall be: N/A. ---

Appears in 1 contract

Sources: Loan Agreement (Opnet Technologies Inc)

Accrual Method. Unless otherwise indicated, interest Interest at the Rate set forth above will be calculated by the 365/360 actual/360 day method (a daily amount of interest is computed for a hypothetical year of 360 days; that amount is multiplied by the actual number of days for which any principal is outstanding hereunder).

Appears in 1 contract

Sources: Loan Agreement (Tandy Brands Accessories Inc)

Accrual Method. Unless otherwise indicated, interest Interest at the Rate set forth above will be calculated by the 365/360 ACTUAL/360 day method (a daily amount of interest is computed for a hypothetical year of 360 days; that amount is multiplied by the actual number of days for which any principal is outstanding hereunder).

Appears in 1 contract

Sources: Loan Agreement (Powercerv Corp)

Accrual Method. Unless otherwise indicated, interest Interest at the Rate set forth above above, will be calculated by the 365/360 day method (a daily amount of interest is computed for a hypothetical year of 360 days; that amount is multiplied by the actual number of days for which any principal is outstanding hereunder).. If interest is not to be computed using this method, the method shall be: N/A. ---

Appears in 1 contract

Sources: Business Loan Agreement (Obsidian Enterprises Inc)

Accrual Method. Unless otherwise indicated, interest at the Rate set forth above will be calculated by the 365/360 day method (a daily amount of interest is computed for a hypothetical year of 360 days; that amount is multiplied by the actual number of days for which any principal is outstanding hereunder).. If interest is not to be computed using this method, the method shall be: N/A. ----

Appears in 1 contract

Sources: Loan Agreement (Integral Systems Inc /Md/)

Accrual Method. Unless otherwise indicated, interest at the Interest Rate set forth above will be calculated by the 365/360 actual/360 day method (a daily amount of interest is computed for a hypothetical year of 360 days; that amount is multiplied by the actual number of days for which any principal Principal is outstanding hereunder).

Appears in 1 contract

Sources: Unsecured Credit Note (Integrated Living Communities Inc)