compounded quarterly definition
compounded quarterly means, with respect to a given per annum rate, multiplying the balance outstanding at the end of 90 days by an amount equal to 1 plus the quarter of the per annum rate. For example, with respect to an 18% per annum rate, the balance outstanding at the end of 90 days would be multiplied by (1+(18%/4)) = 1.045. The Members acknowledge that the calculations in the Current Capital Account Spreadsheet accurately reflect application of this definition. [***]