Common use of Yield Calculation Clause in Contracts

Yield Calculation. (a) The Advances shall bear interest on each day during each Accrual Period at a rate per annum equal to the product of (a) the applicable Interest Rate for such Accrual Period multiplied by (b) the outstanding Advances on such day. (b) All Yield shall be computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such Yield is payable over a year comprised of (x) with respect to Advances funded in GBPs, 365 days (or, in the case of an Accrual Period or other period falling in a leap year, 366 days) and (y) with respect to Advances funded in any Eligible Currency other than GBPs, 360 days.