Common use of Interest Rate Calculations Clause in Contracts

Interest Rate Calculations. All computations of interest, RL Commitment Commission and other Fees hereunder shall be made on the basis of a year of 360 days (except for interest calculated by reference to the Prime Lending Rate, which shall be based on a year of 365 or 366 days, as applicable) for the actual number of days (including the first day but excluding the last day) occurring the period for which such interest, RL Commitment Commission or Fees are payable.