Actual/360 definition

Actual/360 means that interest is calculated on the basis of the actual number of days elapsed in a year of 360 days.
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Actual/360 means the actual number of days in the relevant period divided by 360;
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Actual/360 is specified in the applicable Final Terms, the actual number of days in the Interest Period divided by 360;
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Examples of Actual/360 in a sentence

  • Such Mortgage Loan accrues interest on an Actual/360 Basis, an Actual/Actual Basis or a 30/360 Basis; and such Mortgage Loan accrues interest (payable monthly in arrears) at a fixed rate of interest throughout the remaining term thereof (except if such Mortgage Loan is an ARD Mortgage Loan, in which case the accrual rate for interest will increase after its Anticipated Repayment Date, and except in connection with the occurrence of a default and the accrual of default interest).

  • Interest and fees, if any, shall be computed on the basis of a 360-day year for the actual number of days in the applicable period ("Actual/360 Computation").

  • Application of the Actual/360 Computation produces an annualized effective rate exceeding the nominal rate.

  • The Actual/360 Computation determines the annual effective yield by taking the stated (nominal) rate for a year's period and then dividing said rate by 360 to determine the daily periodic rate to be applied for each day in the applicable period.

  • Interest on the outstanding principal balance of the Loan shall accrue at the Interest Rate calculated on an Actual/360 Basis.


More Definitions of Actual/360

Actual/360 is so specified, means the actual number of days in the Accrual Period divided by 360;
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Actual/360 means a calculation on the basis of the actual number of days elapsed in a year of 360 days.
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Actual/360 which means that interest or any other relevant factor is calculated on the basis of the actual number of days elapsed in a year of 360 days;
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Actual/360 means that interest or any other relevant accrual factor shall be calculated on the basis of the actual number of days elapsed in a year of 360 days. “Actual/365 (fixed)” shall mean that interest or any other relevant accrual factor shall be calculated on the basis of the actual number of days elapsed in a year of 365 days, regardless of whether accrual or payment occurs during a calendar leap year.
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Actual/360 has the meaning given to it in Condition 5.09 (Definitions); “Actual/365 (Fixed)” has the meaning given to it in Condition 5.09 (Definitions); “Actual/365 (Sterling)” has the meaning given to it in Condition 5.09 (Definitions);
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Actual/360 means that interest or any other relevant accrual factor shall be calculated on the basis of the actual number of days elapsed in a year of 360 days.
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Actual/360. , which means that the coupon interest payment is calculated as
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