INTEREST/FEE COMPUTATIONS Clause Samples
INTEREST/FEE COMPUTATIONS. All interest and all fees for any given period shall accrue on the first day thereof but not on the last day thereof and in each case shall be computed on the basis of a 360-day year and the actual number of days elapsed. In no event shall interest accrue at a higher rate than the maximum rate, if any, permitted by law.
INTEREST/FEE COMPUTATIONS. All interest and all fees for any given period shall accrue on the first day thereof but not on the last day thereof and in each case shall be computed on the basis of a 365/366-day year except in the case of LIBOR loans which shall be computed on the basis of a 360-day year on the actual number of days elapsed. In no event shall interest accrue at a higher rate than the maximum rate, if any, permitted by law.