Common use of Calculation of Interest and Fees Clause in Contracts

Calculation of Interest and Fees. Interest on each Borrowing at the Applicable Rate (and any fees described in Section 2.2.2 computed on a per annum basis) shall be calculated on the basis of a 360-day year and actual days elapsed. The Applicable Rate on each Prime Borrowing shall change with each change in the Prime Rate, effective as of the opening of business on the Business Day of such change.

Calculation of Interest and Fees. Interest on each Borrowing at Borrowings and the Applicable Rate outstanding unpaid principal amount of the Term Loan (and any fees described in Section 2.2.2 computed on a per annum basis) shall be calculated on the basis of a 360-day year and actual days elapsed. The Applicable Rate on each Prime Borrowing shall change with each change in the Prime Rate, as determined by Lender, effective as of the opening of business on the Business Day of such change.

Calculation of Interest and Fees. Interest on each Borrowing Borrowings at the Applicable Rate (and any fees described in Section 2.2.2 computed on a per annum basis) shall be calculated on the basis of (i) a 360-360 day year with respect to LIBOR Borrowings; and (ii) a 365/366 day year with respect to Prime Borrowings; and, in each such case, actual days elapsed. The Applicable Rate on each Prime Borrowing Borrowings shall change with each change in the Prime Rate, effective as of the opening of business on the Business Day of such change.