Common use of Floating Rate Notes Clause in Contracts

Floating Rate Notes. Interest rates on Floating Rate Notes will be determined as set forth in the form of such Notes. Interest on Floating Rate Notes will be calculated on the basis of actual days elapsed and a year of 360 days except that, in the case of Floating Rate Notes for which the rate base is the Treasury Rate, interest will be calculated on the basis of the actual number of days in the year.

Floating Rate Notes. Interest rates on Floating Rate Notes will be determined as set forth in the form of such Notes. Interest on Floating Rate Notes will be calculated on the basis of actual days elapsed and a year of 360 days except that, in In the case of Floating Rate Notes for which the rate base is the Treasury RateNotes, interest will be calculated and paid on the basis of the actual number of days in the yearInterest Period divided by 360 for CD Rate, Commercial Paper Rate, Federal Funds Rate, LIBOR and Prime Rate Notes, and on the basis of the actual number of days in the Interest Period divided by the actual number of days in the year for Treasury Rate Notes.