Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be the Interest Period immediately prior to such Monthly Payment Date.
Appears in 3 contracts
Sources: Loan Agreement (Wells Real Estate Investment Trust Inc), Loan Agreement (Wells Real Estate Investment Trust Inc), Loan Agreement (Wells Real Estate Investment Trust Inc)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) 360 day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be the Interest Period immediately prior to such Monthly Payment Date.
Appears in 3 contracts
Sources: Loan Agreement (Thomas Properties Group Inc), Loan Agreement (Thomas Properties Group Inc), Loan Agreement (Thomas Properties Group Inc)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a the Applicable Interest Rate divided by three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be the Interest Accrual Period immediately prior to such Monthly in which the related Payment DateDate occurs.
Appears in 3 contracts
Sources: Loan Agreement (CaliberCos Inc.), Loan Agreement (Cole Credit Property Trust II Inc), Loan Agreement (Spirit Realty Capital, Inc.)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made relevant Interest Period by (b) a daily rate based on the Interest Rate and a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be balance of the Interest Period immediately prior to such Monthly Payment DateLoan.
Appears in 3 contracts
Sources: Loan Agreement (Excel Trust, L.P.), Loan Agreement (Excel Trust, L.P.), Loan Agreement (Brixmor Property Group Inc.)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be the Interest Period immediately prior to such Monthly Payment Date.
Appears in 3 contracts
Sources: Loan Agreement (Cedar Shopping Centers Inc), Junior B Mezzanine Loan Agreement (Thomas Properties Group Inc), Loan Agreement (Cedar Shopping Centers Inc)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period relevant Interest Accrual Period for which the such calculation is being made by (b) a daily rate based on the Interest Rate and a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be balance of the Interest Period immediately prior to such Monthly Payment DateLoan.
Appears in 3 contracts
Sources: Loan and Security Agreement (Cim Real Estate Finance Trust, Inc.), Loan and Security Agreement (Cim Real Estate Finance Trust, Inc.), Loan and Security Agreement (AB Commercial Real Estate Private Debt Fund, LLC)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made applicable Interest Accrual Period by (b) a daily rate based on a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicablethe case may be, expressed as an annual rate divided by three hundred sixty (360)) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be the Interest Period immediately prior to such Monthly Payment Date.
Appears in 2 contracts
Sources: Loan Agreement (Ventas Inc), Mezzanine Loan Agreement (Ventas Inc)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made made, by (b) a daily rate based on a three hundred sixty (360) day year (that is, equal to the Applicable Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) , by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be the Interest Period immediately prior to such Monthly Payment Date.
Appears in 2 contracts
Sources: Loan Agreement (Prime Group Realty Trust), Loan Agreement (Prime Group Realty Trust)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period related Interest Period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be the Interest Period immediately prior to such Monthly Payment Date.
Appears in 2 contracts
Sources: Junior Mezzanine Loan Agreement (Sunstone Hotel Investors, Inc.), Mezzanine Loan Agreement (Sunstone Hotel Investors, Inc.)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period Accrual Period for which the calculation is being made by (b) a daily rate based on a equal to the Applicable Interest Rate divided by three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be balance of the Interest Period immediately prior to such Monthly Payment DateLoan.
Appears in 2 contracts
Sources: Mezzanine Loan Agreement (Piedmont Office Realty Trust, Inc.), Loan Agreement (Piedmont Office Realty Trust, Inc.)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on the Interest Rate for each such Note and a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on balance of each Monthly Payment Date shall be the Interest Period immediately prior to such Monthly Payment DateNote.
Appears in 2 contracts
Sources: Loan Agreement (New York REIT, Inc.), Mezzanine Loan Agreement (New York REIT, Inc.)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan Note shall be calculated by multiplying (a) the actual number of days elapsed in the period relevant Interest Period for which the such calculation is being made by (b) a daily rate based on the Interest Rate applicable to such Note and a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be the Interest Period immediately prior to balance of such Monthly Payment DateNote.
Appears in 2 contracts
Sources: Loan Agreement (VICI Properties L.P.), Loan Agreement (MGM Growth Properties Operating Partnership LP)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period Interest Period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be balance as of the beginning of the Interest Period immediately prior to such Monthly Payment DatePeriod.
Appears in 2 contracts
Sources: Loan Agreement (Acadia Realty Trust), Loan Agreement (Acadia Realty Trust)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made relevant Accrual Period by (b) a daily rate based on the Applicable Interest Rate and a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be balance of the Interest Period immediately prior to such Monthly Payment DateLoan.
Appears in 2 contracts
Sources: Loan Agreement (Inland Real Estate Income Trust, Inc.), Loan Agreement (Inland Real Estate Income Trust, Inc.)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be the Interest Period calendar month immediately prior to such Monthly Payment Date.
Appears in 2 contracts
Sources: Loan Agreement (Brookfield DTLA Fund Office Trust Investor Inc.), Loan Agreement (Chesapeake Lodging Trust)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period relevant Interest Period for which the such calculation is being made by (b) a daily rate based on the Interest Rate applicable to such Component and a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be the Interest Period immediately prior to such Monthly Payment DateOutstanding Loan Amount.
Appears in 2 contracts
Sources: Loan Agreement (Apartment Income REIT, L.P.), Loan Agreement (Apartment Income REIT, L.P.)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on the Interest Rate and a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be balance of the Interest Period immediately prior to such Monthly Payment DateLoan.
Appears in 2 contracts
Sources: Mezzanine Loan Agreement (Strategic Hotels & Resorts, Inc), Mezzanine Loan Agreement (Strategic Hotels & Resorts, Inc)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal Principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be the Interest Period immediately prior to such Monthly Payment Date.
Appears in 2 contracts
Sources: Loan Agreement (Westfield America Inc), Loan Agreement (Westfield America Inc)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the then-outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be balance of the Interest Period immediately prior to such Monthly Payment DateLoan.
Appears in 2 contracts
Sources: Loan Agreement (Prime Group Realty Trust), Mezzanine Loan Agreement (Prime Group Realty Trust)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a equal to the Interest Rate divided by three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be the Interest Period immediately prior to such Monthly Payment Date.
Appears in 2 contracts
Sources: Mezzanine Loan Agreement (Behringer Harvard Opportunity REIT I, Inc.), Loan Agreement (Behringer Harvard Opportunity REIT I, Inc.)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period related Interest Period for which the calculation is being made by (b) a daily rate based on the Interest Rate and a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be balance of the Interest Period immediately prior to such Monthly Payment DateLoan.
Appears in 2 contracts
Sources: Mezzanine Loan Agreement (BRE Select Hotels Corp), Mezzanine Loan Agreement (BRE Select Hotels Corp)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on the Interest Rate or the Default Rate, as applicable, divided by a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be balance of the Interest Period immediately prior to such Monthly Payment DateLoan.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period Interest Period for which the calculation is being made by (b) a daily rate based on a equal to the Note Rate divided by three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the average daily outstanding principal balance. The accrual balance of the Loan during the applicable period for calculating interest due on each Monthly Payment Date shall be which the Interest Period immediately prior to such Monthly Payment Datecalculation is being made.
Appears in 1 contract
Sources: Loan Agreement (SITE Centers Corp.)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be the Interest Period month immediately prior to such Monthly Payment Date.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be the Interest Period immediately prior to such Monthly Payment DatePeriod.
Appears in 1 contract
Sources: Senior Mezzanine Loan Agreement (Thomas Properties Group Inc)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated at the Applicable Interest Rate by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year (that isyear, which shall be expressed as the Applicable Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) , by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be the Interest Period immediately prior to such Monthly Payment Date.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made relevant Accrual Period (provided that an entire Accrual Period shall be deemed to consist of thirty (30) days) by (b) a daily rate based on the Interest Rate and a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be balance of the Interest Period immediately prior to such Monthly Payment DateLoan.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period relevant Interest Period for which the calculation is being made by (b) a daily rate based on the rate described in Section 2.2.3 and a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be balance of such Component of the Interest Period immediately prior to such Monthly Payment DateLoan.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the relevant Accrual Period or other period for which the calculation interest is being made calculated by (b) a daily rate based on the Interest Rate and a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be balance of the Interest Period immediately prior to such Monthly Payment DateLoan.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period Interest Period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be the Interest Period immediately prior to such Monthly Payment Dateyear.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made relevant Accrual Period by (b) a daily rate based on the Applicable Interest Rate or Default Rate, as applicable, and a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be balance of the Interest Period immediately prior to such Monthly Payment DateLoan.
Appears in 1 contract
Sources: Loan Agreement (Cole Credit Property Trust III, Inc.)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period Interest Period for which the calculation is being made by (b) a daily rate based on a equal to the Interest Rate divided by three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the average daily outstanding principal balance. The accrual balance of the Loan during the applicable period for calculating interest due on each Monthly Payment Date shall be which the Interest Period immediately prior to such Monthly Payment Datecalculation is being made.
Appears in 1 contract
Sources: Loan Agreement (Sotherly Hotels Lp)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a equal to the Note Rate divided by three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be balance of the Interest Period immediately prior to such Monthly Payment DateLoan.
Appears in 1 contract
Sources: Mezzanine Loan Agreement (CNL Healthcare Trust, Inc.)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year (that is, equal to the Applicable Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) 360 by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be the Interest Period immediately prior to such Monthly Payment Date.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period related Interest Period for which the calculation is being made by (b) a daily rate based on the Interest Rate and a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be balance of the Interest Period immediately prior to such Monthly Payment DateLoan.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period Interest Period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year (that is, the Applicable Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be balance of the Interest Period immediately prior to such Monthly Payment DateLoan.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on the Applicable Interest Rate and a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be balance of the Interest Period immediately prior to such Monthly Payment DateLoan.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of each Component Outstanding Principal Balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made relevant Accrual Period by (b) a daily rate based on the Interest Rate and a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balancethen Outstanding Principal Balance of the Loan. The accrual period Borrower acknowledges that the calculation method for calculating interest due on each Monthly Payment Date shall be described herein results in a higher effective interest rate than the numeric Interest Period immediately prior Rate and Borrower hereby agrees to such Monthly Payment Datethis calculation method.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be balance of the Interest Period immediately prior to such Monthly Payment DateLoan.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on the Interest Rate and a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be balance of the Interest Period immediately prior to such Monthly Payment DateLoan.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of thirty (30) days elapsed in the period for which the calculation is being made by (b) a daily rate based on the Interest Rate and a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be balance of the Interest Period immediately prior to such Monthly Payment DateLoan.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a equal to the Interest Rate divided by three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be balance of the Interest Period immediately prior to such Monthly Payment DateLoan.
Appears in 1 contract
Sources: Loan Agreement (reAlpha Tech Corp.)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made relevant Accrual Period by (b) a daily rate based on a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be balance of the Interest Period immediately prior to such Monthly Payment DateLoan.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate proration of the Interest Rate based on a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be the Interest Period immediately prior to such Monthly Payment Date.
Appears in 1 contract
Sources: Loan Agreement (Manufactured Housing Properties Inc.)
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made relevant Accrual Period by (b) a daily rate based on the Interest Rate and a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period balance of the Loan, and for calculating interest due on each Monthly Payment Date the avoidance of doubt, monthly debt service (provided no Event of Default shall have occurred and be continuing) shall be in the Interest Period immediately prior to such amount of the Monthly Debt Service Payment DateAmount.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year (that is, equal to the Applicable Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by three hundred sixty (360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be the Interest Period immediately prior to such Monthly Payment Date.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period Interest Period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year (that is, equal to the Interest Rate divided by the actual number of days in such calendar year (i.e., 365 or the Default Rate366, as then applicable, expressed as an annual rate divided by 360) by (c) the average daily outstanding principal balance. The accrual balance of the Loan during the applicable period for calculating interest due on each Monthly Payment Date shall be which the Interest Period immediately prior to such Monthly Payment Datecalculation is being made.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of thirty (30) days elapsed in the period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due balance of the Loan based on each Monthly Payment Date shall be the Interest Period immediately prior to such Monthly Payment Datea 360-day year composed of twelve 30-day months.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of each Component Note (or each Component, if applicable) of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period relevant Interest Period for which the such calculation is being made by (b) a daily rate based on the Interest Rate applicable to such Note (or Component, if applicable) and a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, expressed as an annual rate divided by 360) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be the Interest Period immediately prior to such Monthly Payment DateOutstanding Loan Amount.
Appears in 1 contract
Interest Calculation. Interest on the outstanding principal balance of each Component of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year (that is, the Interest Rate or the Default Rate, as then applicable, applicable to such Component expressed as an annual rate divided by three hundred sixty (360)) by (c) the outstanding principal balance. The accrual period for calculating interest due on each Monthly Payment Date shall be the Interest Period immediately prior to balance of such Monthly Payment DateComponent.
Appears in 1 contract