Common use of Note Interest Payment Clause in Contracts

Note Interest Payment. For each Payment Date and each Note, an amount equal to the product of (i) the unpaid principal balance of such Note on the first day of the Interest Period ending on the day prior to such Payment Date, (ii) an interest rate per annum equal to the sum of (x) the Eurodollar Rate for such Interest Period and (y) the Applicable Margin for such Interest Period, and (iii) a fraction, the numerator of which is equal to the actual number of days in such Interest Period and the denominator of which is equal to 360.