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.
Appears in 3 contracts
Sources: Credit Agreement (Dpac Technologies Corp), Credit Agreement (Stoneridge Inc), Credit Agreement (Sifco Industries Inc)
INTEREST/FEE COMPUTATIONS. All interest and all fees for any given period shall accrue on the first (1st) 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.
Appears in 2 contracts
Sources: Credit Agreement (Om Group Inc), Credit Agreement (MTC Technologies Inc)
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 law1aw.
Appears in 1 contract