Example ContractsClausesapproval periodVariants
Remove:

Computation Period. Interest on the Loans and all other amounts payable by Borrower hereunder on a per annum basis shall be computed on the basis of a 360-day year and the actual number of days elapsed (including the first day but excluding the last day) unless such calculation would result in a usurious rate, in which case interest shall be calculated on the basis of a 365-day year or 366-day year, as the case may be. In computing the number of days during which interest accrues, the day on which funds are initially advanced shall be included regardless of the time of day such advance is made, and the day on which funds are repaid shall be included unless repayment is credited prior to the close of business on the Business Day received. Each determination by Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

Computation Period. Interest on the Loans and all other amounts payable by Borrower hereunder on a per annum basis shall be computed on the basis of a 360-day year and the actual number of days elapsed (including the first day but excluding the last day) unless such calculation would result in a usurious rate, in which case interest shall be calculated on the basis of a 365-day year or 366-day year, as the case may be. In computing the number of days during which interest accrues, the day on which funds are initially advanced shall be included regardless of the time of day such advance is made, and the day on which funds are repaid shall be included unless repayment is credited prior to the close of business on the Business Day received. Each determination by Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

Section # Computation Period.of Interest on theand Fees. All computations of interest for Base Rate Loans and all other amounts payable by Borrower hereunder on a per annum basis shall be computedmade on the basis of a 360-day year of three hundred sixty-five (365) days, or three hundred sixty-six (366) days, as applicable, and the actual numberdays elapsed. All other computations of days elapsed (including the first day but excluding the last day) unless such calculation would result in a usurious rate, in which casefees and interest shall be calculatedmade on the basis of a 365-three hundred sixty (360) day year or 366-day year, as the case may be. In computing the number ofand actual days during which interest accrues,elapsed. Interest shall accrue on each Loan for the day on which funds are initially advanced shall be included regardless of the time of day such advanceLoan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which funds arethe Loan or such portion is paid; provided that any Loan that is repaid shall be included unless repayment is credited prior to the close of business on the Business Day received.same day on which it is made shall, subject to ‎[Section 2.12(a)], bear interest for one (1) day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

Section # Computation Period.of Interest on theand Fees. All computations of interest for Base Rate Loans and all other amounts payable by Borrower hereunder on a per annum basis shall be computedmade on the basis of a 360-day year of three hundred sixty-five (365) days, or three hundred sixty-six (366) days, as applicable, and the actual numberdays elapsed. All other computations of days elapsed (including the first day but excluding the last day) unless such calculation would result in a usurious rate, in which casefees and interest shall be calculatedmade on the basis of a 365-three hundred sixty (360) day year or 366-day year, as the case may be. In computing the number ofand actual days during which interest accrues,elapsed. Interest shall accrue on each Loan for the day on which funds are initially advanced shall be included regardless of the time of day such advanceLoan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which funds arethe Loan or such portion is paid; provided that any Loan that is repaid shall be included unless repayment is credited prior to the close of business on the Business Day received.same day on which it is made shall, subject to [Section 2.12(a)], bear interest for one (1) day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

Computation Period.of Interest and Fees. All computations of interest for Base Rate Loans shall be made on the Loansbasis of a year of three hundred sixty-five (365) or three hundred sixty-six (366) days, as the case may be, and allactual days elapsed. All other amounts payable by Borrower hereunder on a per annum basiscomputations of fees and interest shall be computedmade on the basis of a 360-day year and the actual number of days elapsed (including the first day but excluding the last day) unless such calculation would result(which results in a usurious rate, in which case interest shall be calculatedmore fees or interest, as applicable, being paid than if computed on the basis of a 365-three hundred sixty-five (365) day year or 366-day year, as the case may be. In computing the number of days during which interest accrues,year). Interest shall accrue on each Loan for the day on which funds are initially advanced shall be included regardless of the time of day such advanceLoan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which funds arethe Loan or such portion is paid, provided that any Loan that is repaid shall be included unless repayment is credited prior to the close of business on the Business Day received.same day on which it is made shall, subject to [Section 2.12(a)], bear interest for one (1) day. Each determination by Administrative Agentthe of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

SECTION # Computation Period.of Interest on the Loans and allFees. All computations of interest and other amounts payable by Borrower hereunder on a per annum basisfees shall be computedmade on the basis of a 360-day year of three hundred and thesixty (360) and actual number of days elapsed (including the first day but excluding the last day) unless such calculation would result in a usurious rate, in which case interestelapsed. Interest shall be calculatedaccrue on the basis of a 365-day year or 366-day year, as the case may be. In computing the number of days during which interest accrues,each Loan for the day on which funds are initially advancedthe Loan is made and shall be included regardless of the time of day such advance is made, andnot accrue on a Loan, or any portion thereof, for the day on which funds arethe Loan or such portion is paid; provided that any Loan that is repaid shall be included unless repayment is credited prior to the close of business on the Business Day received.same day on which it is made shall, subject to [Section 2.10(a)], bear interest for one (1) day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

Computation Period. Interest onComputation. All interest (other than interest that is calculated with reference to the LoansBase Rate) and all other amounts payable by Borrower hereunder on a per annum basisfees chargeable under the Loan Documents shall be computed on the basis of a 360-360 day year andyear, in each case, for the actual number of days elapsed (includingin the first day but excludingperiod during which the last day) unless such calculation would result in a usurious rate, in which case interest or fees accrue. All interest that is calculated with reference to the Base Rate under the Loan Documents shall be calculatedcomputed on the basis of a 365-day year or 366-day year, as applicable, for the case may be. In computing theactual number of days elapsed in the period during which such interest accrues,accrues. In the day on which funds are initially advancedevent the Base Rate is changed from time to time hereafter, the rates of interest hereunder based upon the Base Rate automatically and immediately shall be included regardless ofincreased or decreased by an amount equal to such change in the time of day such advance is made, and the day on which funds are repaid shall be included unless repayment is credited prior to the close of business on the Business Day received. Each determination by Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.Base Rate.

Computation Period. Interest onAll computations of interest with respect to the Loans and all other amounts payable by Borrower hereunder on a per annum basis shall be computed oncomputations of the basis of a 360-day year and the actual number of days elapsedfees (including the first day but excluding the last day) unless such calculation would result in a usurious rate, in which case interestLetter of Credit Fee) due hereunder for any period shall be calculated on the basis of a 365-day year or 366-day year, asof 360 days for the case may be. In computing theactual number of days duringelapsed in such period (except in the case of Base Rate Loans, which shall be 365 days (or 366 days in a leap year)). Interest shall accrue from the first day of the making of a Loan (or the date on which interest accrues,or fees or other payments are due hereunder, if applicable) to (but not including) the day on which funds are initially advanced shall be included regardlessdate of repayment of such Loan (or the date of the timepayment of day such advance is made, andinterest or fees or other payments, if applicable) in accordance with the day on which funds are repaid shall be included unless repayment is credited prior to the close of business on the Business Day received. Each determination by Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.provisions hereof.

Computation Period. Interest on. All computations of interest for Base Rate Loans when the Loans and all other amounts payableBase Rate is determined by Borrower hereunder on a per annum basisthe “prime lending rate” shall be computedmade on the basis of a 360-day year of 365 days or 366 days, as the case may be, and the actual numberdays elapsed. All other computations of days elapsed (including the first day but excluding the last day) unless such calculation would result in a usurious rate, in which casefees and interest shall be calculatedmade on the basis of a 365-360 day year or 366-day year, as the case may be. In computing the number ofand actual days during which interest accrues,elapsed. Interest shall accrue on each Loan for the day on which funds are initially advanced shall be included regardless of the time of day such advanceLoan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which funds arethe Loan or such portion is paid; provided that any Loan that is repaid shall be included unless repayment is credited prior to the close of business on the Business Day received.same day on which it is made shall, subject to [Section 2.14(a)], bear interest for one day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

Computation Period.of Interest and Fees. All computations of interest for Base Rate Loans in respect of which the rate of interest is calculated on the Loans and all other amounts payable by Borrower hereunder on a per annum basis of the Prime Rate shall be computedmade on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and the actual number of days elapsed (including the first day but excluding the last day) unless such calculation would result(which results in a usurious rate, in which case interest shall be calculatedmore fees or interest, as applicable, being paid than if computed on the basis of a 365-day year or 366-day year, as the case may be. In computing the number of days during which interest accrues,year). Interest shall accrue on each Loan for the day on which funds are initially advanced shall be included regardless of the time of day such advanceLoan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which funds arethe Loan or such portion is paid, provided that any Loan that is repaid shall be included unless repayment is credited prior to the close of business on the Business Day received.same day on which it is made shall, subject to [Section 2.12(a)], bear interest for one day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

Load more...
Select clause to view document information.

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.