{"component": "clause", "props": {"groups": [{"samples": [{"hash": "9ydRfbnCP5A", "uri": "/contracts/9ydRfbnCP5A#computation", "label": "Loan and Security Agreement (Exyn Technologies, Inc.)", "score": 37.2108154297, "published": true}, {"hash": "6AjBla2Rq2x", "uri": "/contracts/6AjBla2Rq2x#computation", "label": "Loan and Security Agreement (Emery Partners Income Credit Strategies Fund)", "score": 37.0410690308, "published": true}, {"hash": "hQnr0Gh7mB1", "uri": "/contracts/hQnr0Gh7mB1#computation", "label": "Loan and Security Agreement (Exyn Technologies, Inc.)", "score": 36.9233398438, "published": true}], "size": 590, "snippet_links": [{"key": "the-prime-rate", "type": "definition", "offset": [13, 27]}, {"key": "from-time-to-time", "type": "clause", "offset": [39, 56]}, {"key": "applicable-rate-of-interest", "type": "clause", "offset": [72, 99]}, {"key": "the-day", "type": "definition", "offset": [159, 166]}, {"key": "equal-to", "type": "definition", "offset": [207, 215]}, {"key": "change-in", "type": "clause", "offset": [221, 230]}, {"key": "interest-chargeable", "type": "clause", "offset": [251, 270]}, {"key": "the-loan-documents", "type": "clause", "offset": [277, 295]}, {"key": "basis-of", "type": "clause", "offset": [321, 329]}, {"key": "actual-number-of-days", "type": "clause", "offset": [375, 396]}], "snippet": "In the event the Prime Rate is changed from time to time hereafter, the applicable rate of interest hereunder shall be increased or decreased, effective as of the day the Prime Rate is changed, by an amount equal to such change in the Prime Rate. 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In the event the Reference Rate is changed from time to time hereafter, the applicable rate of interest hereunder automatically and immediately shall be increased or decreased by an amount equal to such change in the Reference Rate. All interest and fees chargeable under the Loan Documents shall be computed on the basis of a 360 day year for the actual number of days elapsed.", "hash": "94bf927b5d14ecd390e4487ae58b4a87", "id": 6}, {"samples": [{"hash": "fo2HV4EluOH", "uri": "/contracts/fo2HV4EluOH#computation", "label": "Senior Secured Revolving Credit Agreement (Owl Rock Core Income Corp.)", "score": 32.3757705688, "published": true}, {"hash": "8p2ndIsr3SI", "uri": "/contracts/8p2ndIsr3SI#computation", "label": "Senior Secured Revolving Credit Agreement (Owl Rock Technology Finance Corp.)", "score": 31.8637924194, "published": true}, {"hash": "i0RDekvtjkX", "uri": "/contracts/i0RDekvtjkX#computation", "label": "Senior Secured Revolving Credit Agreement (Owl Rock Capital Corp)", "score": 31.8418884277, "published": true}], "size": 59, "snippet_links": [{"key": "basis-of", "type": "clause", "offset": [48, 56]}, {"key": "a-year", "type": "definition", "offset": [57, 63]}, {"key": "reference-to", "type": "definition", "offset": [114, 126]}, {"key": "alternate-base-rate", "type": "clause", "offset": [131, 150]}, {"key": "based-on", "type": "definition", "offset": [192, 200]}, {"key": "the-prime-rate", "type": "definition", "offset": [201, 215]}, {"key": "multicurrency-loans", "type": "definition", "offset": [228, 247]}, {"key": "pounds-sterling", "type": "definition", "offset": [263, 278]}, {"key": "canadian-dollars", "type": "definition", "offset": [282, 298]}, {"key": "days-in", "type": "definition", "offset": [360, 367]}, {"key": "leap-year", "type": "definition", "offset": [370, 379]}, {"key": "each-case", "type": "definition", "offset": [389, 398]}, {"key": "actual-number-of-days", "type": "clause", "offset": [424, 445]}, {"key": "first-day", "type": "definition", "offset": [469, 478]}, {"key": "but-excluding", "type": "clause", "offset": [479, 492]}, {"key": "last-day", "type": "clause", "offset": [497, 505]}, {"key": "the-applicable", "type": "clause", "offset": [508, 522]}, {"key": "adjusted-libo-rate", "type": "definition", "offset": [546, 564]}, {"key": "the-administrative-agent", "type": "definition", "offset": [588, 612]}, {"key": "such-determination", "type": "definition", "offset": [617, 635]}, {"key": "manifest-error", "type": "definition", "offset": [663, 677]}], "snippet": "All interest hereunder shall be computed on the basis of a year of 360 days, except that interest computed (i) by reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate and (ii) on Multicurrency Loans denominated in Pounds Sterling or Canadian Dollars shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate or Adjusted LIBO Rate shall be determined by the Administrative Agent and such determination shall be conclusive absent manifest error.", "hash": "859ea7509e3624745eca98e347743ae8", "id": 7}, {"samples": [{"hash": "n6U4FsD53s", "uri": "/contracts/n6U4FsD53s#computation", "label": "Asset Based Revolving Credit Agreement (Cleveland-Cliffs Inc.)", "score": 35.8446273804, "published": true}, {"hash": "iY2XNgn0DmY", "uri": "/contracts/iY2XNgn0DmY#computation", "label": "Asset Based Revolving Credit Agreement (Cleveland-Cliffs Inc.)", "score": 35.8446273804, "published": true}, {"hash": "amcFcvUUdYQ", "uri": "/contracts/amcFcvUUdYQ#computation", "label": "Asset Based Revolving Credit Agreement (Cleveland-Cliffs Inc.)", "score": 34.5633125305, "published": true}], "size": 57, "snippet_links": [{"key": "interest-and-fees", "type": "clause", "offset": [4, 21]}, {"key": "the-loan-documents", "type": "clause", "offset": [39, 57]}, {"key": "basis-of", "type": "clause", "offset": [83, 91]}, {"key": "in-the-case", "type": "clause", "offset": [111, 122]}, {"key": "base-rate-loans", "type": "clause", "offset": [126, 141]}, {"key": "based-on", "type": "definition", "offset": [167, 175]}, {"key": "the-base-rate", "type": "definition", "offset": [176, 189]}, {"key": "each-case", "type": "definition", "offset": [258, 267]}, {"key": "actual-number-of-days", "type": "clause", "offset": [277, 298]}, {"key": "period-during-which", "type": "clause", "offset": [314, 333]}, {"key": "the-interest", "type": "clause", "offset": [334, 346]}, {"key": "in-the-event-the", "type": "clause", "offset": [363, 379]}, {"key": "from-time-to-time", "type": "clause", "offset": [401, 418]}, {"key": "rates-of-interest", "type": "clause", "offset": [434, 451]}, {"key": "decreased-by", "type": "clause", "offset": [539, 551]}, {"key": "equal-to", "type": "definition", "offset": [562, 570]}, {"key": "change-in", "type": "clause", "offset": [576, 585]}], "snippet": "All interest and fees chargeable under the Loan Documents shall be computed on the basis of a 360-day year or, in the case of Base Rate Loans (or any fees or expenses based on the Base Rate), on the basis of a 365-day year or 366-day year, as applicable, in each case, for the actual number of days elapsed in the period during which the interest or fees accrue. In the event the Base Rate is changed from time to time hereafter, the rates of interest hereunder based upon the Base Rate automatically and immediately shall be increased or decreased by an amount equal to such change in the Base Rate.", "hash": "817ce2911ef91c6e6dfd2f9cb72418c4", "id": 8}, {"samples": [{"hash": "fL19as8hMhK", "uri": "/contracts/fL19as8hMhK#computation", "label": "Senior Secured Revolving Credit Agreement (Fidelity Private Credit Co LLC)", "score": 37.2327156067, "published": true}, {"hash": "ieqkb2nFAeV", "uri": "/contracts/ieqkb2nFAeV#computation", "label": "Senior Secured Revolving Credit Agreement (Stone Point Credit Corp)", "score": 37.2299804688, "published": true}, {"hash": "cUWHVqYVGUg", "uri": "/contracts/cUWHVqYVGUg#computation", "label": "Senior Secured Revolving Credit Agreement (KKR FS Income Trust)", "score": 37.2108154297, "published": true}], "size": 54, "snippet_links": [{"key": "basis-of", "type": "clause", "offset": [48, 56]}, {"key": "a-year", "type": "definition", "offset": [57, 63]}, {"key": "reference-to", "type": "definition", "offset": [132, 144]}, {"key": "alternate-base-rate", "type": "clause", "offset": [149, 168]}, {"key": "based-on", "type": "definition", "offset": [210, 218]}, {"key": "interest-on", "type": "definition", "offset": [238, 249]}, {"key": "all-loans", "type": "clause", "offset": [250, 259]}, {"key": "days-in", "type": "definition", "offset": [393, 400]}, {"key": "leap-year", "type": "definition", "offset": [403, 412]}, {"key": "each-case", "type": "definition", "offset": [422, 431]}, {"key": "actual-number-of-days", "type": "clause", "offset": [457, 478]}, {"key": "first-day", "type": "definition", "offset": [502, 511]}, {"key": "but-excluding", "type": "clause", "offset": [512, 525]}, {"key": "last-day", "type": "clause", "offset": [530, 538]}, {"key": "relevant-rate", "type": "definition", "offset": [571, 584]}, {"key": "daily-simple-rfr", "type": "definition", "offset": [593, 609]}, {"key": "the-administrative-agent", "type": "definition", "offset": [633, 657]}, {"key": "such-determination", "type": "definition", "offset": [663, 681]}, {"key": "manifest-error", "type": "definition", "offset": [709, 723]}], "snippet": "All interest hereunder shall be computed on the basis of a year of three hundred sixty (360) days, except that interest computed by reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate and interest on all Loans denominated in GBP shall be computed on the basis of a year of three hundred sixty five (365) days (or three hundred sixty six (366) days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The Alternate Base Rate, each Relevant Rate and the Daily Simple RFR shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.", "hash": "96d924960baca893a540f5a13ede959e", "id": 9}, {"samples": [{"hash": "fgtRs0kDzmq", "uri": "/contracts/fgtRs0kDzmq#computation", "label": "Loan and Security Agreement (Cpi Aerostructures Inc)", "score": 36.9452438354, "published": true}, {"hash": "7BSH39jcQfs", "uri": "/contracts/7BSH39jcQfs#computation", "label": "Loan and Security Agreement (Ikena Oncology, Inc.)", "score": 35.9760437012, "published": true}, {"hash": "2ApxrgsrrEu", "uri": "/contracts/2ApxrgsrrEu#computation", "label": "Merger Agreement (Ikena Oncology, Inc.)", "score": 35.9760437012, "published": true}], "size": 52, "snippet_links": [{"key": "interest-chargeable", "type": "clause", "offset": [4, 23]}, {"key": "the-loan-documents", "type": "clause", "offset": [30, 48]}, {"key": "basis-of", "type": "clause", "offset": [74, 82]}, {"key": "actual-number-of-days", "type": "clause", "offset": [128, 149]}], "snippet": "All interest chargeable under the Loan Documents shall be computed on the basis of a three hundred sixty (360) day year for the actual number of days elapsed.", "hash": "1274ded9c7f9e63771e887d221059dfa", "id": 10}], "next_curs": "ClQSTmoVc35sYXdpbnNpZGVyY29udHJhY3RzcjALEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhRjb21wdXRhdGlvbiMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"size": 3969, "parents": [["loan-and-terms-of-payment", "Loan and Terms of Payment"], ["interest", "Interest"], ["interest-rates-payments-and-calculations", "Interest Rates Payments and Calculations"], ["the-credits", "The Credits"], ["interest-rates-and-letter-of-credit-fee-rates-payments-and-calculations", "Interest Rates and Letter of Credit Fee Rates Payments and Calculations"]], "children": [["", ""], ["increased-costs-generally", "Increased Costs Generally"], ["payments-free-of-taxes", "Payments Free of Taxes"], ["delay-in-requests", "Delay in Requests"], ["certificates-from-lenders", "Certificates from Lenders"]], "title": "Computation", "id": "computation", "related": [["interest-computation", "Interest Computation", "Interest <strong>Computation</strong>"], ["calculation", "Calculation", "Calculation"], ["time-computation", "Time Computation", "Time <strong>Computation</strong>"], ["computation-period", "Computation Period", "<strong>Computation</strong> Period"], ["basis-of-computation", "Basis of Computation", "Basis of <strong>Computation</strong>"]], "related_snippets": [], "updated": "2026-04-30T06:05:53+00:00", "also_ask": ["What are the essential elements that must be defined for accurate computation under this clause?", "How can parties negotiate computation methods to minimize ambiguity and disputes?", "What are the most common pitfalls or fatal flaws in computation clauses that courts have flagged?", "How does this computation approach compare to industry standards or statutory requirements?", "What evidence is typically required to enforce or challenge a computation clause in court?"], "drafting_tip": "Specify the computation method, define all variables, and state applicable standards to ensure accuracy, prevent disputes, and facilitate enforceability.", "explanation": "The Computation clause defines the method or process by which certain values, payments, or obligations are calculated under the agreement. It typically outlines the formulas, variables, or reference data to be used, and may specify who is responsible for performing the calculations and how disputes over computations are to be resolved. This clause ensures transparency and consistency in determining amounts due or other quantifiable terms, thereby reducing the risk of misunderstandings or disputes between the parties."}, "json": true, "cursor": ""}}