Basis for Computation Clause Samples

Basis for Computation. All interest hereunder shall be computed on the basis of a year of 360 days, and shall be payable for the actual number of days elapsed. Subject to the last sentence of Section 2.1, Interest on the unpaid principal of each Loan shall accrue from the date such Loan is made to the date such Loan is paid in full.
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Basis for Computation. All interest hereunder shall be computed on the basis of a year of 360 days, and shall be payable for the actual number of days elapsed. Subject to the last sentence of Section 2.1, Interest on the unpaid principal of each Loan shall accrue from the date such Loan is made to the date such Loan is paid in full. If the LIBOR Rate becomes unavailable during the term of this Agreement, Lender may designate a comparable substitute rate upon notice to Borrower.
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Basis for Computation. Interest, fees and other amounts computed on an annual basis and payable under this Agreement shall be computed on the basis of the exact number of days elapsed during the period concerned (including the first day of the period, but excluding the last day of the period) on the basis of a three hundred and sixty (360) day year.
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Basis for Computation. All interest is calculated on the basis of a year of 360 days.
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Basis for Computation. 18 6.4 Covenant Regarding Business Days..............................18 6.5
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Related to Basis for Computation

  • Time Computation Saturday, Sunday and holidays recognized by this Agreement shall not be counted under the time procedures established in this Agreement.

  • Basis of Computation Interest accrued hereunder shall be computed for the actual number of days elapsed on the basis of a 360-day year.

  • Overtime Computation Computation of overtime will be rounded upward to the nearest one-tenth (1/10th) of an hour.

  • Basis for calculation of periodic payments All interest and commitment fee and any other payments under any Finance Document which are of an annual or periodic nature shall accrue from day to day and shall be calculated on the basis of the actual number of days elapsed and a 360 day year.

  • Computation of Interest, Fees, Yield Protection All interest, as well as fees and other charges calculated on a per annum basis, shall be computed for the actual days elapsed, based on a year of 360 days. Each determination by Agent of any interest, fees or interest rate hereunder shall be final, conclusive and binding for all purposes, absent manifest error. All fees shall be fully earned when due and shall not be subject to rebate, refund or proration. All fees payable under Section 3.2 are compensation for services and are not, and shall not be deemed to be, interest or any other charge for the use, forbearance or detention of money. A certificate as to amounts payable by Borrowers under Section 3.4, 3.6, 3.7, 3.9 or 5.9, submitted to Borrower Agent by Agent or the affected Lender, as applicable, shall be final, conclusive and binding for all purposes, absent manifest error, and Borrowers shall pay such amounts to the appropriate party within 10 days following receipt of the certificate.