Computation of Interest and Fees; When Interest Due and Payable. Interest accruing on the outstanding principal balance of the Advances and fees hereunder outstanding from time to time shall be computed on the basis of actual number of days elapsed in a year of 360 days. Interest shall be due and payable in arrears on the first day of each month and on the Termination Date.
Appears in 3 contracts
Sources: Credit and Security Agreement (Naturade Inc), Credit and Security Agreement (Educational Insights Inc), Credit and Security Agreement (Organic Food Products Inc)
Computation of Interest and Fees; When Interest Due and Payable. Interest accruing on the outstanding principal balance of the Advances and fees hereunder outstanding from time to time shall be computed on the basis of actual number of days elapsed in a year of 360 days. Interest accruing on the Notes shall be due and payable in arrears on the first day of each month and on the Termination Date.
Appears in 1 contract
Sources: Credit and Security Agreement (Microtel International Inc)
Computation of Interest and Fees; When Interest Due and Payable. Interest accruing on the outstanding principal balance of the Advances and fees hereunder outstanding from time to time shall be computed on the basis of actual number of days elapsed in a year of 360 days. Interest Except as set forth in Section 2.2(d), interest shall be due and payable in arrears on the first day of each month and on the Termination Date.
Appears in 1 contract
Sources: Credit and Security Agreement (Medical Graphics Corp /Mn/)