Common use of Calculation of Interest and Fees Clause in Contracts

Calculation of Interest and Fees. Interest on the Advances and all fees payable hereunder shall be computed on the basis of a 360-day year and the actual number of days elapsed (other than Prime Rate Advances, which shall be computed on the basis of a 365-day year and the actual number of days elapsed) in the period during which such interest accrues. In computing interest on any Advance, the date of the making of such Advance shall be included and the date of payment shall be excluded; provided, however, that if any Advance is repaid on the same day on which it is made, such day shall be included in computing interest on such Advance.

Calculation of Interest and Fees. Interest on the Advances Advances, Term Advances, and all fees payable hereunder shall be computed on the basis of a 360-day year and the actual number of days elapsed (other than Prime Rate Advances, which shall be computed on the basis of a 365-day year and the actual number of days elapsed) elapsed in the period during which such interest accrues. In computing interest on any Advance and/or Term Advance, the date of the making of such Advance and/or Term Advance shall be included and the date of payment shall be excluded; provided, however, that if any Advance is repaid repaid, and/or Term Advance is prepaid, on the same day on which it is made, such day shall be included in computing interest on such Advance and/or Term Advance.