Common use of Day count convention Clause in Contracts

Day count convention. Any amount due by way of interest, indemnity or fee from a Borrower under this Contract, and calculated in respect of a fraction of a year, shall be determined on the following respective conventions: (a) in respect of interest and indemnities due under a Fixed Rate Tranche, a year of 360 (three hundred and sixty) days and a month of 30 (thirty) days; (b) in respect of interest and indemnities due under a Floating Rate Tranche, a year of 360 (three hundred and sixty) days and the number of days elapsed; (c) in respect of fees, a year of 360 (three hundred and sixty) days and the number of days elapsed.

Day count convention. Any amount due by way of interest, indemnity or fee from a the Borrower under this Contract, and calculated in respect of a fraction of a year, shall be determined on the following respective conventions: (a) in respect of interest and indemnities due under a Fixed Rate Tranche, a year of 360 (three hundred and sixty) days and a month of 30 (thirty) days; (b) in respect of interest and indemnities due under a Floating Rate Tranche, a year of 360 (three hundred and sixty) days and the number of days elapsed; (c) in respect of fees, a year of 360 (three hundred and sixty) days and the number of days elapsed.

Day count convention. Any amount due by way of interest, indemnity or fee from a the Borrower under this Contract, and calculated in respect of a fraction of a year, shall be determined on the following respective conventions: (a) in respect of interest and indemnities due under a Fixed Rate Tranche, a year of 360 (three hundred and sixty) days and a month of 30 (thirty) days; (b) in respect of interest and indemnities due under a Floating Rate Tranche, a year of 360 (three hundred and sixty) days and the number of days elapsed;; and (c) in respect of fees, a year of 360 (three hundred and sixty) days and the number of days elapsed.