Common use of Calculation and Payment of Interest Clause in Contracts

Calculation and Payment of Interest. (a) Interest on the outstanding principal amount from time to time of each LIBOR Loan shall accrue from day to day from and including the date on which credit is obtained by way of such Loan to but excluding the date on which such Loan is repaid in full (both before and after maturity and as well after as before judgment) and shall be calculated on the basis of the actual number of days elapsed divided by 360. (b) Accrued interest shall be paid, (i) in the case of Base Rate Loans, in arrears monthly on the 22nd day of each calendar month; and (ii) in the case of interest on LIBOR Loans, on the last day of the applicable Interest Period; provided that, in the case of Interest Periods of a duration longer than three months, accrued interest shall be paid no less frequently than every three months from the first day of such Interest Period during the term of such Interest Period and on the date on which such LIBOR Loans are otherwise required to be repaid.

Calculation and Payment of Interest. (a) Interest on the outstanding principal amount from time to time of each LIBOR Base Rate Loan shall accrue from day to day from and including the date on which credit is obtained by way of such Loan to but excluding the date on which such Loan is repaid in full (both before and after maturity and as well after as before judgment) and shall be calculated on the basis of the actual number of days elapsed divided by 360. (b) 365 or 366, as the case may be. Accrued interest shall be paid, (i) , in the case of interest on Base Rate Loans, monthly in arrears monthly on the 22nd last day of each calendar month; and (ii) and in the case of interest on LIBOR Loans, on the last day of the applicable Interest Period; provided that, in the case of Interest Periods of a duration longer than three (3) months, accrued interest shall be paid no less frequently than every three (3) months from the first day of such Interest Period during the term of such Interest Period and on the date on which such LIBOR Loans are otherwise required to be repaid.

Calculation and Payment of Interest. (a) Interest on the outstanding principal amount from time to time of each LIBOR Base Rate Loan shall accrue from day to day from and including the date on which credit is obtained by way of such Loan to but excluding the date on which such Loan is repaid in full (both before and after maturity and as well after as before judgment) and shall be calculated on the basis of the actual number of days elapsed divided by 360.365 or 366, as the case may be. ​ (b) Accrued interest shall be paid,, ​ (i) in the case of interest on Base Rate Loans, monthly in arrears monthly on the 22nd last day of each calendar month; andand ​ (ii) in the case of interest on LIBOR LIBORSOFR Loans, on the last day of the applicable Interest Period; provided that, in the case of Interest Periods of a duration longer than three (3) months, accrued interest shall be paid no less frequently than every three (3) months from the first day of such Interest Period during the term of such Interest Period and on the date on which such LIBOR LIBORSOFR Loans are otherwise required to be repaid.. ​