Day Count Basis. Interest and fees shall be calculated on the basis of a 360-day year for the actual number of days elapsed (which results in more interest or fees, as the case may be, being paid than if calculated on the basis of a 365-day year). The date of funding or conversion of a Term SOFR Rate Loan to a Daily Simple SOFR Rate Loan and the first day of an Interest Period shall be included in the calculation of interest. The date of payment of any Loan and the last day of an Interest Period shall be excluded from the calculation of interest; provided, if a Loan is repaid on the same day that it is made, one (1) day's interest shall be charged.
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Sources: Credit Agreement (Andersons, Inc.), Credit Agreement (Andersons, Inc.)
Day Count Basis. Interest and fees shall be calculated on the basis of a 360-day year for the actual number of days elapsed (which results in more interest or fees, as the case may be, being paid than if calculated on the basis of a 365-day year). The date of funding or conversion of a the Term SOFR Loan from the LIBOR Rate Loan Option to a Daily Simple SOFR the Base Rate Loan Option and the first day of an Interest Period shall be included in the calculation of interest. The date of payment of any the Term Loan and the last day of an Interest Period shall be excluded from the calculation of interest; provided, if a the Term Loan is repaid on the same day that it is made, one (1) day's ’s interest shall be charged.
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