Common use of Calculation Rule Clause in Contracts

Calculation Rule. The interest, fees and other amounts drawn up annually, payable under the Agreement will be calculated on the actual number of calendar days in the period in question on the basis of three hundred and sixty (360) days. The interest on each Loan Tranche will calculated using the following formula: I = E * (Reference Index + Margin) * J / 360 Formula in which: I = Amount of interest for the Interest Period in question, E = Outstanding amount for the Tranche concerned (A1 or A2 or A3 or A4), J = Actual Number of days in the period in question.