Common use of Computation and Payment Clause in Contracts

Computation and Payment. All interest and per annum fees shall be computed on the basis of a 360-day year, actual days elapsed, except interest on Prime Rate Loans shall be computed on the basis of a 365/366-day year, actual days elapsed. Interest on Prime Rate Loans shall be payable monthly, in arrears, on the first day of each month and on the Maturity Date. Interest on LIBOR Loans shall be paid on the last day of each Fixed Rate Term, at the end of the third month with respect to each Fixed Rate Term of six months and on the Maturity Date.

Computation and Payment. All interest and per annum fees shall be computed on the basis of a 360-day year, actual days elapsed, except interest on Prime Rate Loans shall be computed on the basis of a 365/366-day year, actual days elapsed. Interest on Prime Rate Loans shall be payable monthlyquarterly, in arrears, on the first day of each month January, April, July and on October and upon the Maturity Dateconversion of a Prime Rate Loan to a LIBOR Loan. Interest on LIBOR Loans shall be paid on the last day of each Fixed Rate Term, Term and at the end of the third month with respect to each Fixed Rate Term of six months and on the Maturity Datemonths.

Computation and Payment. All interest and per annum fees shall be computed on the basis of a 360-day year, actual days elapsed, except interest on Prime Rate Loans shall be computed on the basis of a 365/366-day year, actual days elapsed. Interest on Prime Rate Loans shall be payable monthlyquarterly, in arrears, on the first day of each month January, April, July and on October and upon the Maturity Dateconversion of a Prime Rate Loan to a LIBOR Loan. Interest on LIBOR Loans shall be paid on the last day of each Fixed Rate Term, at the end of the third month with respect to each Fixed Rate Term of six months and on the Maturity Date.

Computation and Payment. All interest and per annum fees shall be ----------------------- computed on the basis of a 360-day year, actual days elapsed, except interest on Prime Rate Loans shall be computed on the basis of a 365/366-day year, actual days elapsed. Interest on Prime Rate Loans shall be payable monthly, in arrears, on the first day of each month and on the Maturity Date. Interest on LIBOR Loans shall be paid on the last day of each Fixed Rate Term, at the end of the third month with respect to each Fixed Rate Term of six months and on the Maturity Date.