Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) the Applicable Interest Rate divided by three hundred sixty (360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be the Interest Accrual Period in which the related Payment Date occurs.
Appears in 3 contracts
Sources: Loan Agreement (CaliberCos Inc.), Loan Agreement (Cole Credit Property Trust II Inc), Loan Agreement (Spirit Realty Capital, Inc.)
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period relevant Interest Accrual Period for which the such calculation is being made by (b) a daily rate based on the Applicable Interest Rate divided by and a three hundred sixty (360) day year by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be balance of the Interest Accrual Period in which the related Payment Date occursLoan.
Appears in 3 contracts
Sources: Loan and Security Agreement (Cim Real Estate Finance Trust, Inc.), Loan and Security Agreement (Cim Real Estate Finance Trust, Inc.), Loan and Security Agreement (AB Commercial Real Estate Private Debt Fund, LLC)
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period related Interest Period for which the calculation is being made by (b) a daily rate based on the Applicable applicable Interest Rate divided by and a three hundred sixty (360) day year by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be balance of the Interest Accrual Period in which the related Payment Date occursLoan.
Appears in 3 contracts
Sources: Mezzanine Loan Agreement (ESH Hospitality LLC), Mezzanine Loan Agreement (ESH Hospitality LLC), Mezzanine Loan Agreement (ESH Hospitality LLC)
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period Interest Period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year (that is, the Applicable Interest Rate or the Default Rate, as then applicable to the Note, expressed as an annual rate divided by three hundred sixty (360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be the Interest Accrual Period in which the related Payment Date occurs.
Appears in 3 contracts
Sources: Mezzanine Loan Agreement (Black Creek Diversified Property Fund Inc.), Loan Agreement (Black Creek Diversified Property Fund Inc.), Loan Agreement (Black Creek Diversified Property Fund Inc.)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) the Applicable Interest Rate divided by a daily rate based on a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be the Interest Accrual Period in which the related immediately prior to such Monthly Payment Date occursDate.
Appears in 3 contracts
Sources: Loan Agreement (Wells Real Estate Investment Trust Inc), Loan Agreement (Wells Real Estate Investment Trust Inc), Loan Agreement (Wells Real Estate Investment Trust Inc)
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year (that is, the Applicable Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by three hundred sixty (360) by (c) the outstanding principal balancebalance of the Loan. The accrual period for calculating interest due on each Monthly Payment Date shall be the Interest Accrual Period in which the related calendar month immediately prior to such Monthly Payment Date occursDate.
Appears in 2 contracts
Sources: Loan Agreement (Reckson Associates Realty Corp), Loan Agreement (Reckson Operating Partnership Lp)
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year (that is, the Applicable Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by three hundred sixty (360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be the Interest Accrual Period in which the related calendar month immediately prior to such Monthly Payment Date occursDate.
Appears in 2 contracts
Sources: Loan Agreement (Ps Business Parks Inc/Ca), Loan Agreement (Corporate Property Associates 16 Global Inc)
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) the Applicable Interest Rate divided by a daily rate based on a three hundred sixty (360) day year by (c) the outstanding principal Principal balance. The accrual period for calculating interest due on each Payment Date shall be the Interest Accrual Period in which the related Payment Date occurs.
Appears in 2 contracts
Sources: Loan Agreement (Westfield America Inc), Loan Agreement (Westfield America Inc)
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) the Applicable Interest Rate divided by a daily rate based on a three hundred sixty (360) day year by (c) the then-outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be balance of the Interest Accrual Period in which the related Payment Date occursLoan.
Appears in 2 contracts
Sources: Loan Agreement (Prime Group Realty Trust), Mezzanine Loan Agreement (Prime Group Realty Trust)
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period related Interest Period for which the calculation is being made by (b) the Applicable Interest Rate divided by a daily rate based on a three hundred sixty (360) day year by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be the Interest Accrual Period in which the related Payment Date occurs.
Appears in 2 contracts
Sources: Junior Mezzanine Loan Agreement (Sunstone Hotel Investors, Inc.), Mezzanine Loan Agreement (Sunstone Hotel Investors, Inc.)
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made applicable Interest Accrual Period by (b) a daily rate based on a three hundred sixty (360) day year (that is, the Applicable Interest Rate or the Default Rate, as the case may be, divided by three hundred sixty (360)) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be the Interest Accrual Period in which the related Payment Date occurs.
Appears in 2 contracts
Sources: Loan Agreement (Ventas Inc), Mezzanine Loan Agreement (Ventas Inc)
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate equal to the Applicable Interest Rate divided by three hundred sixty (360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be the Interest Accrual Period in which the related Payment Date occurs.
Appears in 2 contracts
Sources: Mezzanine Loan Agreement (Behringer Harvard Opportunity REIT I, Inc.), Loan Agreement (Behringer Harvard Opportunity REIT I, Inc.)
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made made, by (b) a daily rate equal to the Applicable Interest Rate divided by three hundred sixty (360) , by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be the Interest Accrual Period in which the related Payment Date occurs.
Appears in 2 contracts
Sources: Loan Agreement (Prime Group Realty Trust), Loan Agreement (Prime Group Realty Trust)
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made relevant Accrual Period by (b) a daily rate based on the Applicable Interest Rate divided by and a three hundred sixty (360) day year by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be balance of the Interest Accrual Period in which the related Payment Date occursLoan.
Appears in 2 contracts
Sources: Loan Agreement (Inland Real Estate Income Trust, Inc.), Loan Agreement (Inland Real Estate Income Trust, Inc.)
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period Interest Period for which the calculation is being made by (b) the Applicable Interest Rate divided by a daily rate based on a three hundred sixty (360) day year by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be balance as of the beginning of the Interest Accrual Period in which the related Payment Date occursPeriod.
Appears in 2 contracts
Sources: Loan Agreement (Acadia Realty Trust), Loan Agreement (Acadia Realty Trust)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period relevant Interest Period for which the such calculation is being made by (b) a daily rate based on the Applicable Interest Rate divided by applicable to such Component and a three hundred sixty (360) day year by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be the Interest Accrual Period in which the related Payment Date occursOutstanding Loan Amount.
Appears in 2 contracts
Sources: Loan Agreement (Apartment Income REIT, L.P.), Loan Agreement (Apartment Income REIT, L.P.)
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on the Applicable Interest Rate divided by and a three hundred sixty (360) day year by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be balance of the Interest Accrual Period in which the related Payment Date occursLoan.
Appears in 2 contracts
Sources: Mezzanine Loan Agreement (Strategic Hotels & Resorts, Inc), Mezzanine Loan Agreement (Strategic Hotels & Resorts, Inc)
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period Accrual Period for which the calculation is being made by (b) a daily rate equal to the Applicable Interest Rate divided by three hundred sixty (360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be balance of the Interest Accrual Period in which the related Payment Date occursLoan.
Appears in 2 contracts
Sources: Mezzanine Loan Agreement (Piedmont Office Realty Trust, Inc.), Loan Agreement (Piedmont Office Realty Trust, Inc.)
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) the Applicable Interest Rate divided by a daily rate based on a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be the Interest Accrual Period in which the related calendar month immediately prior to such Monthly Payment Date occursDate.
Appears in 2 contracts
Sources: Loan Agreement (Brookfield DTLA Fund Office Trust Investor Inc.), Loan Agreement (Chesapeake Lodging Trust)
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period related Interest Period for which the calculation is being made by (b) a daily rate based on the Applicable Interest Rate divided by and a three hundred sixty (360) day year by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be balance of the Interest Accrual Period in which the related Payment Date occursLoan.
Appears in 2 contracts
Sources: Mezzanine Loan Agreement (BRE Select Hotels Corp), Mezzanine Loan Agreement (BRE Select Hotels Corp)
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on the Applicable Interest Rate divided by for each such Note and a three hundred sixty (360) day year by (c) the outstanding principal balance. The accrual period for calculating interest due on balance of each Payment Date shall be the Interest Accrual Period in which the related Payment Date occurssuch Note.
Appears in 2 contracts
Sources: Loan Agreement (New York REIT, Inc.), Mezzanine Loan Agreement (New York REIT, Inc.)
Interest Calculation. Interest on the outstanding principal balance of the Loan each Note shall be calculated by multiplying (a) the actual number of days elapsed in the period relevant Interest Period for which the such calculation is being made by (b) a daily rate based on the Applicable Interest Rate divided by applicable to such Note and a three hundred sixty (360) day year by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be the Interest Accrual Period in which the related Payment Date occursbalance of such Note.
Appears in 2 contracts
Sources: Loan Agreement (VICI Properties L.P.), Loan Agreement (MGM Growth Properties Operating Partnership LP)
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate equal to the Applicable Interest Note Rate divided by three hundred sixty (360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be balance of the Interest Accrual Period in which the related Payment Date occursLoan.
Appears in 1 contract
Sources: Mezzanine Loan Agreement (CNL Healthcare Trust, Inc.)
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period Interest Period for which the calculation is being made by (b) the Applicable Interest Rate divided by a daily rate based on a three hundred sixty (360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be the Interest Accrual Period in which the related Payment Date occursday year.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made relevant Accrual Period by (b) a daily rate based on the Applicable Interest Rate divided by or Default Rate, as applicable, and a three hundred sixty (360) day year by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be balance of the Interest Accrual Period in which the related Payment Date occursLoan.
Appears in 1 contract
Sources: Loan Agreement (Cole Credit Property Trust III, Inc.)
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated at the Applicable Interest Rate by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year, which shall be expressed as the Applicable Interest Rate divided by three hundred sixty (360) , by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be the Interest Accrual Period in which the related Payment Date occurs.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) the Applicable Interest Rate divided by a daily rate based on a three hundred sixty (360) day year by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be balance of the Interest Accrual Period in which the related Payment Date occursLoan.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate equal to the Applicable Interest Rate or the Default Rate, as applicable, divided by three hundred sixty (360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be the Interest Accrual Period in which the related Payment Date occurs.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on the Applicable Interest Rate divided by and a three hundred sixty (360) day year by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be balance of the Interest Accrual Period in which the related Payment Date occursLoan.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on the Applicable Interest Rate or the Default Rate, as applicable, divided by a three hundred sixty (360) day year by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be balance of the Interest Accrual Period in which the related Payment Date occursLoan.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made relevant Accrual Period by (b) a daily rate based on the Applicable Interest Rate divided by and a three hundred sixty (360) day year by (c) the outstanding principal balance. The accrual period balance of the Loan, and for calculating interest due on each Payment Date the avoidance of doubt, monthly debt service (provided no Event of Default shall have occurred and be continuing) shall be in the Interest Accrual Period in which amount of the related Monthly Debt Service Payment Date occursAmount.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made relevant Accrual Period by (b) the Applicable Interest Rate divided by a daily rate based on a three hundred sixty (360) day year by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be balance of the Interest Accrual Period in which the related Payment Date occursLoan.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period Interest Period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year (that is, the Applicable Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by three hundred sixty (360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be balance of the Interest Accrual Period in which the related Payment Date occursLoan.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on the Applicable Interest Rate divided by and a three hundred sixty (360) day year by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be balance of the Interest Accrual Period in which the related Payment Date occursLoan.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made relevant Accrual Period (provided that an entire Accrual Period shall be deemed to consist of thirty (30) days) by (b) a daily rate based on the Applicable Interest Rate divided by and a three hundred sixty (360) day year by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be balance of the Interest Accrual Period in which the related Payment Date occursLoan.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of thirty (30) days elapsed in the period for which the calculation is being made by (b) the Applicable Interest Rate divided by three hundred sixty (360) a daily rate by (c) the outstanding principal balance. The accrual period for calculating interest due balance of the Loan based on each Payment Date shall be the Interest Accrual Period in which the related Payment Date occursa 360-day year composed of twelve 30-day months.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period Interest Period for which the calculation is being made by (b) a daily rate equal to the Applicable Interest Note Rate divided by three hundred sixty (360) by (c) the average daily outstanding principal balance. The accrual balance of the Loan during the applicable period for calculating interest due on each Payment Date shall be the Interest Accrual Period in which the related Payment Date occurscalculation is being made.
Appears in 1 contract
Sources: Loan Agreement (SITE Centers Corp.)
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) the Applicable Interest Rate divided by a daily rate based on a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be the Interest Accrual Period in which the related month immediately prior to such Monthly Payment Date occursDate.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance Outstanding Principal Balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made relevant Accrual Period by (b) a daily rate based on the Applicable Interest Rate divided by and a three hundred sixty (360) day year by (c) the outstanding principal balancethen Outstanding Principal Balance of the Loan. The accrual period Borrower acknowledges that the calculation method for calculating interest due on each Payment Date shall be described herein results in a higher effective interest rate than the numeric Interest Accrual Period in which the related Payment Date occursRate and Borrower hereby agrees to this calculation method.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) the Applicable Interest Rate divided by a daily rate based on a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be the Interest Accrual Period in which the related Payment Date occursPeriod.
Appears in 1 contract
Sources: Senior Mezzanine Loan Agreement (Thomas Properties Group Inc)
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate equal to the Applicable Interest Rate divided by three hundred sixty (360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be balance of the Interest Accrual Period in which the related Payment Date occursLoan.
Appears in 1 contract
Sources: Loan Agreement (reAlpha Tech Corp.)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period relevant Interest Period for which the calculation is being made by (b) a daily rate based on the Applicable Interest Rate divided by rate described in Section 2.2.3 and a three hundred sixty (360) day year by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be balance of such Component of the Interest Accrual Period in which the related Payment Date occursLoan.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of each Note (or each Component, if applicable) of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period relevant Interest Period for which the such calculation is being made by (b) a daily rate based on the Applicable Interest Rate divided by applicable to such Note (or Component, if applicable) and a three hundred sixty (360) day year by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be the Interest Accrual Period in which the related Payment Date occursOutstanding Loan Amount.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year (that is, the Applicable Interest Rate applicable to such Component expressed as an annual rate divided by three hundred sixty (360)) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be the Interest Accrual Period in which the related Payment Date occursbalance of such Component.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate equal to the Applicable Interest Rate divided by three hundred sixty (360) 360 by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be the Interest Accrual Period in which the related Payment Date occurs.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period related Interest Period for which the calculation is being made by (b) a daily rate based on the Applicable Interest Rate divided by and a three hundred sixty (360) day year by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be balance of the Interest Accrual Period in which the related Payment Date occursLoan.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily proration of the Applicable Interest Rate divided by based on a three hundred sixty (360) day year by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be the Interest Accrual Period in which the related Payment Date occurs.
Appears in 1 contract
Sources: Loan Agreement (Manufactured Housing Properties Inc.)
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the relevant Accrual Period or other period for which the calculation interest is being made calculated by (b) a daily rate based on the Applicable Interest Rate divided by and a three hundred sixty (360) day year by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be balance of the Interest Accrual Period in which the related Payment Date occursLoan.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of thirty (30) days elapsed in the period for which the calculation is being made by (b) a daily rate based on the Applicable Interest Rate divided by and a three hundred sixty (360) day year by (c) the outstanding principal balance. The accrual period for calculating interest due on each Payment Date shall be balance of the Interest Accrual Period in which the related Payment Date occursLoan.
Appears in 1 contract