Computation of Interest on Notes and Fees. Except as otherwise provided herein or in any Note, interest (including the OPIC Spread), default interest, the Commitment Fee and any other fees shall accrue on a daily basis and shall be computed on the basis of 360-day years composed of twelve (12) thirty (30)-day months.
Appears in 2 contracts
Sources: Loan Agreement (Interoil Corp), Loan Agreement (Interoil Corp)
Computation of Interest on Notes and Fees. Except as otherwise provided herein or in the Funding Documents or in any Note, interest (including interest calculated at the OPIC Spread)Note Interest Rate and the Default Rate) shall accrue as set forth in the Note, default interest, and the Commitment Fee and any other fees shall accrue on a daily basis and shall be computed on the basis of 360-day years composed of based on twelve (12) thirty (30)-day 30-day months.
Appears in 1 contract
Sources: Finance Agreement (Lazare Kaplan International Inc)