Day Count Fraction Clause Samples
The Day Count Fraction clause defines the method used to calculate the proportion of a year represented by a specific period of time, which is essential for determining interest payments or accruals in financial contracts. This clause specifies the formula or convention—such as Actual/360, Actual/365, or 30/360—that will be used to compute the fraction of a year between two dates. By standardizing how time periods are measured for financial calculations, the clause ensures consistency and fairness in the calculation of interest or other time-dependent amounts, thereby preventing disputes and misunderstandings between parties.
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Day Count Fraction. Interest shall accrue from day to day, shall be calculated on the basis of the actual number of days elapsed and a [365][360] day year, including the first day of the period during which it accrues but excluding the last.12
Day Count Fraction. 30/360 Reset Dates: The first day of each Calculation Period. Compounding: Inapplicable.
Day Count Fraction. If interest is to be calculated for a period of less than one year, it shall be calculated on the basis of the actual number of days elapsed, divided by 365 (or, if any portion of that period falls in a leap year, the sum of (i) the actual number of days in that period falling in a leap year divided by 366 and (ii) the actual number of days in that period falling in a non-leap year divided by 365).
Day Count Fraction. Whenever it is necessary to compute an amount of interest in respect of a Loan Tranche for any period (including any Loan Tranche Interest Period for such Loan Tranche), such interest shall be calculated on the basis of actual days elapsed in a 365 day year.
Day Count Fraction. All interest is respect of Advances and the Loan shall accrue from day to day (after as well as before judgment) on the basis of a year of 360 days and for the actual number of days elapsed.
Day Count Fraction. If interest is required to be calculated for any period of time, such interest shall be calculated on the basis of the Day Count Fraction (as defined below).
Day Count Fraction. Actual/Actual (ICMA) (for the purpose of calculating interest in respect of a period of less than a full half year)
Day Count Fraction. “Day Count Fraction” means with regard to the calculation of interest on the Loan for any period of time (the “Calculation Period”), the actual number of days in the Calculation Period divided by 360.
Day Count Fraction. The rates of interest per annum payable on or in respect of the Loan are expressed on the basis of a 365 or 366 day year, as applicable.
Day Count Fraction. [360x(Y2 Y1 )][30x(M2 M1 )] (D2 D1 )