Time of Accrual Clause Samples
The "Time of Accrual" clause defines the specific point at which a right, obligation, or liability becomes effective or enforceable under an agreement. In practice, this clause clarifies whether certain payments, penalties, or benefits are triggered immediately upon the occurrence of an event, at the end of a specified period, or upon fulfillment of certain conditions. For example, it may determine when interest begins to accrue on overdue payments or when a party's right to claim damages arises. The core function of this clause is to provide certainty and prevent disputes by clearly establishing when contractual consequences take effect.
Time of Accrual. Interest shall accrue on all principal amounts outstanding from the date when first outstanding to the date when no longer outstanding. Amounts shall be deemed outstanding until payments are applied thereto as provided herein.
Time of Accrual. 10 4.9. Computation...........................................................................................10 4.10. Rate After Maturity................................................................................10 5. Fees.......................................................................................................10 5.1. Upfront Fee...........................................................................................10 5.2. Revolving Loan Unused Fee.............................................................................11 5.3. Letter of Credit Fee..................................................................................11
Time of Accrual. 6 3.8. Computation ............................................................. 6 3.9. Usury ................................................................... 6 .................................
Time of Accrual. 14 4.10. Computation. . . . . . . . . . . . . . . . . . . . . . . . . . 14 4.11. Rate After Maturity and Rate After An Event of Default.. . . . 15 4.12. Taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Time of Accrual. Interest shall accrue on all principal amounts outstanding from the date when first outstanding to the date when no longer outstanding. Amounts shall be deemed outstanding until payments are applied thereto as provided herein. Conversion or Continuation of Loans. Except as described in Sections 0, 0 and 0, Base Rate Loans are not available to Borrower. Borrower may not at any time convert some or all of a Base Rate Loan to a LIBOR Loan, or a LIBOR Loan to a Base Rate Loan, except in situations described in Sections 0, 0 and 0 in which cases such conversion shall be mandatory.
Time of Accrual. 36 4.10. Conversion or Continuation of Loans.........................36 4.11. Computation.................................................36 4.12. Rate After Maturity and Rate After An Event of Default......36 4.12.1......................................................36 4.13. Taxes.......................................................37 4.14. Compensation for Increased Costs and Reduced Returns; Capital Adequacy............................................39 4.15. Limitation on Types of Loans................................40 4.16. Illegality..................................................40 4.17. Treatment of Affected Loans.................................40 4.18. Usury.......................................................41
Time of Accrual. 5 4.5. Computation. . . . . . . . . . . . . . . . . . . . . . . . 5 4.6. Rate After Maturity. . . . . . . . . . . . . . . . . . . . 5
Time of Accrual. 6 4.8. Computation. . . . . . . . . . . . . . . . . . . . 6 4.9.
Time of Accrual. Subject to Section interest shall accrue on all principal amounts outstanding from and including the date when first outstanding to but excluding the date when no longer outstanding. Amounts shall be deemed outstanding until payments are applied thereto as provided in Section or otherwise in accordance with the Loan Documents.
Time of Accrual. Amounts under this Section 5 for a particular calendar year are deemed to accrue on the last day of such year, except that with respect to the year in which benefits commence, such amounts are deemed to accrue on the date on which benefits commence.