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.
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Samples: Loan and Security Agreement (Concurrent Computer Corp/De), Loan and Security Agreement (Concurrent Computer Corp/De)
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 a 360-day year and 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.
Appears in 2 contracts
Samples: Loan and Security Agreement (Simione Central Holdings Inc), Loan Agreement (Imnet Systems Inc)
Calculation of Interest and Fees. Interest on each ------------------------------------ Borrowing at the Applicable Rate (and any fees described in Section 2.2.2 2.2(b) 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.
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