Common use of Computation of Fees and Interest Clause in Contracts

Computation of Fees and Interest. (a) All computations of interest for Base Rate Committed Loans when the Base Rate is determined by BofA's "reference rate" and all computations of interest for Offshore Currency Loans denominated in English pounds sterling shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more interest being paid than if computed on the basis of a 365-day year). Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof.

Appears in 3 contracts

Samples: Credit Agreement (Precision Castparts Corp), Credit Agreement (Precision Castparts Corp), Credit Agreement (Precision Castparts Corp)

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Computation of Fees and Interest. (a) All computations Interest on any Loan bearing interest based upon Bank of interest for Base Rate Committed Loans when the Base Rate is determined by BofA's "reference rate" and all computations of interest for Offshore Currency Loans America’s prime rate or denominated in English pounds sterling Pounds Sterling shall be made computed for the actual number of days elapsed on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsedapplicable. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more interest being paid than if computed on the basis of a 365-day year)) or on such other basis as the Agent shall determine is customary for the relevant currency. Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof.

Appears in 2 contracts

Samples: Credit Agreement (Oshkosh Corp), Credit Agreement (Oshkosh Truck Corp)

Computation of Fees and Interest. (a) All computations of interest for Base Rate Committed Loans when the Base Rate is determined by BofA's "reference rate" and all computations of interest for Offshore Currency Loans denominated in English pounds sterling shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of interest and fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results elapsed; provided that interest on Offshore Currency Loans denominated in more interest being paid than if computed British pounds sterling shall be calculated on the basis of a 365-day year)year of 365 or 366 days, as the case may be, and actual days elapsed. Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof.

Appears in 1 contract

Samples: Credit Agreement (Culligan Water Technologies Inc)

Computation of Fees and Interest. (a) All computations of (x) Commitment Fees, (y) interest for Base based on the Federal Funds Rate, and (z) interest payable in respect of Offshore Rate Committed Loans, CD Rate Loans, and Reference Rate Loans when interest is based on the Base Federal Funds Rate is determined by BofA's "reference rate" shall be made on the basis of a year of 360 days and all actual days elapsed. All other computations of fees and interest for Offshore Currency Loans denominated in English pounds sterling under this Agreement shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more interest being paid than if computed on the basis of a 365-day year). Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof.

Appears in 1 contract

Samples: Credit Agreement (Strauss Levi Associates Inc)

Computation of Fees and Interest. (a) All computations of interest for on Prime Rate Loans, all computations of the Stamping Fee Rate and all computations of interest on Base Rate Committed Loans when the Base Rate is determined by reference to BofA's "reference rate" and all computations of interest for Offshore Currency Loans denominated in English pounds sterling shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of interest and fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more interest and fees being paid than if computed on the basis of a 365-day year). Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof.

Appears in 1 contract

Samples: Credit Agreement (Capital Environmental Resource Inc)

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Computation of Fees and Interest. (a) All computations of interest for Base Rate Committed Loans when the Base Rate is determined by BofA's "reference rate" and all computations Bank of interest for Offshore Currency Loans denominated in English pounds sterling shall America’s “prime rate”shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days (including the first day, but excluding the last day) elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days (including the first day, but excluding the last day) elapsed (which results in more interest being paid than if computed on the basis of a 365-day year). Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof.

Appears in 1 contract

Samples: Credit Agreement (Pma Capital Corp)

Computation of Fees and Interest. (a) All computations of interest for Base Rate Committed Loans, Absolute Rate Bid Loans when and fees other than the Base Rate is determined by BofA's "reference rate" and all computations of interest for Offshore Currency Loans denominated in English pounds sterling Facility Fee shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees interest for Offshore Rate Loans, LIBOR Bid Loans and interest the Facility Fee shall be made on the basis of a 360-day year and actual days elapsed (which results in more interest being paid than if computed on the basis of a 365-day year). Interest and fees shall accrue during each period during which interest or such fees are computed from from, and including, the first day thereof to to, but excluding, the last day thereof.

Appears in 1 contract

Samples: Multicurrency Credit Agreement (Briggs & Stratton Corp)

Computation of Fees and Interest. (a) All computations of fees and interest under this Agreement and, unless expressly provided for Base Rate Committed Loans when otherwise, under the Base Rate is determined by BofA's "reference rate" and all computations of interest for Offshore Currency Loans denominated in English pounds sterling other Loan Documents, shall be made (i) with respect to Eurodollar Rate Loans, on the basis of a 360‑day year of 365 or 366 days, as for the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more interest being paid than if computed on the basis of a 365365‑day year, or 366-day year if applicable), and (ii) and with respect to all other amounts, on the basis of a 365 or 366‑day year), as applicable, for the actual days elapsed. Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof.

Appears in 1 contract

Samples: Uncommitted Revolving Credit Agreement (Tesoro Corp /New/)

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