Computation Basis Sample Clauses
The Computation Basis clause defines the specific methods, assumptions, or data sources to be used when calculating amounts, values, or other figures under an agreement. In practice, this clause may specify which accounting standards apply, how interest is to be calculated, or what reference rates or indices should be used for adjustments. By clearly establishing the rules for calculations, the clause ensures consistency and transparency, reducing the risk of disputes over how contractual amounts are determined.
Computation Basis. Interest accruing based on the ----------------- Base Rate shall be computed on the basis of the actual number of days elapsed and a 365 (or, if applicable, 366) day year. Interest accruing based on LIBOR shall be computed on the basis of the actual number of days elapsed and a 360 day year.
Computation Basis. Interest accruing based on the Base Rate shall be computed on the basis of the actual number of days elapsed and a 365 (or, if applicable, 366) day year. Interest accruing based on the Eurodollar Rate (Reserve Adjusted) shall be computed on the basis of the actual number of days elapsed and a 360 day year. The Series 1997-1 Liquidity Agent will give notice promptly to RFC, the Series 1997-1 Support Letter of Credit Providers and the Series 1997-1 Collateral Agent of changes in the Eurodollar Rate.
Computation Basis. Computation of reassigned release time for an academic year shall be based upon the Division’s scheduled personnel as of Census week of the prior Spring term Census Week I.