Common use of Computation of Interest Clause in Contracts

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate.

Appears in 48 contracts

Samples: Credit Agreement (Morgan Stanley Direct Lending Fund), Credit Agreement (Landauer Inc), Guaranty and Collateral Agreement (Sei Investments Co)

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Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of (a) 360 daysdays for interest calculated at the LIBOR Rate and (b) 365/366 days for interest calculated at the Base Rate. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate.

Appears in 19 contracts

Samples: Credit Agreement (Primoris Services Corp), Credit Agreement (Primoris Services Corp), Loan and Security Agreement (Mattersight Corp)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base RateRate without notice or demand of any kind.

Appears in 4 contracts

Samples: Credit Agreement (Nashua Corp), Credit Agreement (Nashua Corp), Credit Agreement (Nashua Corp)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days. The applicable interest rate for each Base Interest Rate Loan shall change simultaneously with each change in the Base LIBO Rate referred to in the definition of “Interest Rate.

Appears in 4 contracts

Samples: Credit Agreement (Penske Automotive Group, Inc.), Fourth Amended and Restated Credit Agreement (Penske Automotive Group, Inc.), Credit Agreement (United Auto Group Inc)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 daysdays per calendar year. The applicable interest rate for each Base Rate the Term Loan shall change simultaneously with each change in the Base Prime Rate.

Appears in 3 contracts

Samples: Term Loan Credit Agreement (Falconstor Software Inc), Term Loan Credit Agreement (Falconstor Software Inc), Term Loan Credit Agreement (Qumu Corp)

Computation of Interest. Interest on each Loan shall be computed for the actual number of days elapsed (including the day a Loan is made but excluding the day it is repaid) on the basis of a year of 360 three hundred sixty (360) days. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate.

Appears in 3 contracts

Samples: Credit Agreement (Energy West Inc), Credit Agreement (Energy West Inc), Credit Agreement (Energy West Inc)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 daysdays per calendar year. The applicable interest rate for each Base Rate the Term Loan shall change simultaneously with each change in the Base Prime Rate. SECTION 5 FEES.

Appears in 3 contracts

Samples: Term Loan Credit Agreement (Qumu Corp), Term Loan Credit Agreement, Term Loan Credit Agreement

Computation of Interest. Interest All computations of interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate.

Appears in 3 contracts

Samples: Credit Agreement (Cabot Microelectronics Corp), Credit Agreement (Rohn Industries Inc), Credit Agreement (Cabot Microelectronics Corp)

Computation of Interest. Interest shall be computed for the actual ----------------------- number of days elapsed on the basis of a year of 360 days. The applicable interest rate for each Base Floating Rate Loan shall change simultaneously with each change in the Base Alternate Reference Rate.

Appears in 3 contracts

Samples: Credit Agreement (Elgin National Industries Inc), Credit Agreement (United Rentals Inc), Credit Agreement (United Rentals Inc)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days; provided that calculations of interest on Base Rate Loans made by reference to the Prime Rate will be made on the basis of a 365/366-day year and actual days elapsed. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate.

Appears in 2 contracts

Samples: Credit Agreement (Proquest Co), Credit Agreement (Proquest Co)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days. The applicable interest rate for each Base Interest Rate Loan shall change simultaneously with each change in the Base LIBO Rate average referred to in the definition of "Interest Rate."

Appears in 2 contracts

Samples: Credit Agreement (United Auto Group Inc), Credit Agreement (United Auto Group Inc)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days. The applicable interest rate for each Base Floating Rate Loan shall change simultaneously with each change in the Base Alternate Reference Rate.

Appears in 2 contracts

Samples: Credit Agreement (Layne Christensen Co), Credit Agreement (United Waste Systems Inc)

Computation of Interest. Interest All computations of interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days. The applicable interest rate for each Base Rate Loan under each facility shall change simultaneously with each change in the Base Rate.

Appears in 2 contracts

Samples: Credit Agreement (Semco Energy Inc), Credit Agreement (Semco Energy Inc)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days; provided that calculations of interest with respect to Base Rate Loans shall be for the actual number of days elapsed on the basis of a year of 365/366 days. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate.

Appears in 2 contracts

Samples: Credit Agreement (Ennis, Inc.), Credit Agreement (Ennis, Inc.)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of (a) 360 daysdays for interest calculated at the Eurocurrency Rate and (b) 365/366 days for interest calculated at the Base Rate and for Eurocurrency Rate Loans denominated in Sterling in accordance with Section 7.1. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate.

Appears in 2 contracts

Samples: Credit Agreement (Lecg Corp), Credit Agreement (Lecg Corp)

Computation of Interest. Interest on all Loans shall be computed for the actual number of days elapsed on the basis of a year of 360 days. The applicable interest rate for each Base Floating Rate Loan shall change simultaneously with each change in the Base Alternate Reference Rate.

Appears in 1 contract

Samples: Credit Agreement (Gibraltar Packaging Group Inc)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate.. 1240807.08

Appears in 1 contract

Samples: Credit Agreement (Cpi Corp)

Computation of Interest. Interest on each Loan shall be computed for the actual number of days elapsed on the basis of a year of 360 days360-day year. The applicable interest rate for applicable to each Revolving Loan that is a Base Rate Loan, Acquisition Loan and Term Loan shall change simultaneously with each change in the Base Rate.. 15

Appears in 1 contract

Samples: Loan and Security Agreement (Heartland Technology Inc)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 365 days. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate.

Appears in 1 contract

Samples: Credit Agreement (American Capital Strategies LTD)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days. The applicable interest rate for each Base Interest Rate Loan shall change simultaneously with each change in the Base Adjusted Term SOFR Rate referred to in the definition of “Interest Rate.

Appears in 1 contract

Samples: Credit Agreement (Penske Automotive Group, Inc.)

Computation of Interest. Interest All computations of interest shall be computed ----------------------- for the actual number of days elapsed on the basis of a year of 360 days. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate.

Appears in 1 contract

Samples: Credit Agreement (Oregon Steel Mills Inc)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days; provided that, for Revolving Loans denominated in an Alternate Currency for which a 365-day basis is the only market practice available, interest shall be calculated on the basis of a year of 365 or 366 days, as the case may be. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate.

Appears in 1 contract

Samples: Credit Agreement (Westinghouse Air Brake Technologies Corp)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate. SECTION 5 FEES.

Appears in 1 contract

Samples: Credit Agreement (Concur Technologies Inc)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days, provided that interest on Base Rate Loans shall be computed for the actual number of days elapsed on the basis of a year of 365/366 days. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate.

Appears in 1 contract

Samples: Credit Agreement (Clark Holdings Inc.)

Computation of Interest. Interest on each Loan shall be computed for the actual number of days elapsed on the basis of a year of 360 days360-day year. The applicable interest rate for applicable to each Base Rate Loan shall change simultaneously with each change in such Base Rate. Upon conversion of less than all the aggregate principal amount of Base Rate Loans outstanding at any one time to a LIBOR Loan, interest on the remaining principal amount of Base Rate Loans shall continue to bear interest at the Base Rate.

Appears in 1 contract

Samples: Loan Agreement (Kv Pharmaceutical Co /De/)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days except computations of interest on Base Rate Loans, which shall be made on the basis of actual number of days elapsed over a year of 365 or 366 days, as applicable. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate.

Appears in 1 contract

Samples: Credit Agreement (Fresh Brands Inc)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days; provided that interest on Base Rate Loans based upon the Prime Rate shall be calculated on the basis of a year of 365 (or, if applicable, 366) days. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate.

Appears in 1 contract

Samples: Credit Agreement (Kanbay International Inc)

Computation of Interest. Interest on each Loan shall be computed for the actual number of days elapsed on the basis of a year of 360 days360-day year. The applicable interest rate for applicable to each Base Rate Loan shall change simultaneously with each change in the such Base Rate.. Upon conversion of less than all the aggregate principal amount of

Appears in 1 contract

Samples: Loan Agreement (Taylor Capital Group Inc)

Computation of Interest. Interest shall be computed for on a 365/360 basis; that is, by applying the actual number ratio of days elapsed on the basis of interest rate over a year of 360 days. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate.

Appears in 1 contract

Samples: Credit Agreement (Weyco Group Inc)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 three hundred sixty (360) days. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate.

Appears in 1 contract

Samples: Credit Agreement (Russ Berrie & Co Inc)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days, except for interest on Base Rate Loans which shall be calculated for actual days elapsed on the basis of a 365 or 366-day year, as applicable. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate.

Appears in 1 contract

Samples: Credit Agreement (Valassis Communications Inc)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days; provided, that with respect to Base Rate Loans interest shall be computed for the actual number of days elapsed on the basis of a year of 365 or 366 days, as applicable. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate.

Appears in 1 contract

Samples: Credit Agreement (American Railcar Industries, Inc.)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days. The applicable interest rate for each Base Rate ABR Loan shall change simultaneously with each change in the Alternate Base Rate.

Appears in 1 contract

Samples: Credit Agreement (U S Aggregates Inc)

Computation of Interest. Interest on all Loans shall be computed for the actual number of days elapsed calculated on the basis of a 360-day year of 360 daysfor the actual days elapsed. The applicable interest rate for each Base Rate Loan shall change simultaneously with each Any change in the Base Rateinterest rate on the Note resulting from a change in the Prime Rate or the LIBOR Rate shall become effective as of each Interest Rate Change Date.

Appears in 1 contract

Samples: Loan Agreement (Universal Truckload Services, Inc.)

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Computation of Interest. Interest (other than interest calculated based upon the Base Rate) shall be computed for the actual number of days elapsed on the basis of a year of 360 days. Interest computations based upon the Base Rate shall be computed for the actual number of days elapsed on the basis of a year of 365/366 days. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate.

Appears in 1 contract

Samples: Credit Agreement (Russ Berrie & Co Inc)

Computation of Interest. Interest on the Loan shall be computed for the actual number of days elapsed on the basis of a an assumed year of 360 days. The applicable interest rate for each Base Rate applicable to the Loan shall change simultaneously with each change in the Base Reference Rate.

Appears in 1 contract

Samples: Credit Agreement (Audio Book Club Inc)

Computation of Interest. Interest All computations of interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate.

Appears in 1 contract

Samples: Credit Agreement (Rohn Industries Inc)

Computation of Interest. Interest shall be computed for the actual ----------------------- number of days elapsed on the basis of a year of 360 days. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate.

Appears in 1 contract

Samples: Credit Agreement (College Television Network Inc)

Computation of Interest. Interest on each Loan and the calculation of the Unused Portion Fee shall be computed for the actual number of days elapsed on the basis of a year of 360 days360-day year. The applicable interest rate for applicable to each Revolving Loan that is a Base Rate Loan and each Equipment Loan shall change simultaneously with each change in the Base Rate.

Appears in 1 contract

Samples: Loan and Security Agreement (Sigmatron International Inc)

Computation of Interest. Interest shall be ----------------------- computed for the actual number of days elapsed on the basis of a year of 360 days, which results in more interest than if a 365/366-day year were used. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate.

Appears in 1 contract

Samples: Credit Agreement (Wyle Electronics)

Computation of Interest. Interest shall be computed for the ----------------------- actual number of days elapsed on the basis of a year of 360 160 days. The applicable interest rate for each Base Floating Rate Loan shall change simultaneously with each change in the Base Alternate Reference Rate.

Appears in 1 contract

Samples: Credit Agreement (Global Industrial Technologies Inc)

Computation of Interest. Interest on each Loan shall be computed for the actual number of days elapsed on the basis of a year of 360 days360-day year. The applicable interest rate for applicable to each Base Rate Loan shall change simultaneously with each change in such Base Rate. Upon conversion of less than all the aggregate principal amount of Base Rate Loans outstanding at any one time to a LIBOR Loan, interest on the remaining principal amount of Base Rate Loans outstanding after such conversion shall be calculated assuming such LIBOR Loan replaced a corresponding amount of Base Rate Loans bearing interest at the Base Rate.Rate applicable thereto immediately prior to

Appears in 1 contract

Samples: Loan Agreement (Taylor Capital Group Inc)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of (a) 365/366 days for interest calculated at the Base Rate and (b) 360 daysdays for interest calculated at the LIBOR Rate. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate.

Appears in 1 contract

Samples: Credit Agreement (Compass Diversified Trust)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days (or, in the case of Floating Rate Loans bearing interest at the Reference Rate, 365 or 366 days, as appropriate). The applicable interest rate for each Base Floating Rate Loan shall change simultaneously with each change in the Base Reference Rate.

Appears in 1 contract

Samples: Credit Agreement (Meyer Fred Inc)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate. SECTIONS 5 FEES.

Appears in 1 contract

Samples: Term Loan Agreement (Tandem Health Care, Inc.)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days; provided that interest on Base Rate Loans shall be computed for the actual number of days elapsed on the basis of a year of 365 or 366 days, as appropriate. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate.

Appears in 1 contract

Samples: Credit Agreement (Option Care Inc/De)

Computation of Interest. (a) Interest in respect of all Loans shall be computed calculated on the basis of a 360 day year for the actual number of days elapsed on elapsed. Any change in the basis of a year of 360 days. The applicable interest rate for each on a Base Rate Loan shall change simultaneously with each resulting from a change in the Alternate Base RateRate shall become effective as of the opening of business on the day on which such change in the Alternate Base Rate is established. The Agent shall notify the Company and the Banks as soon as practicable of the effective date and the amount of each such change.

Appears in 1 contract

Samples: Revolving Credit Agreement (Avondale Industries Inc)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days. The applicable interest rate for each Base Floating Rate Loan shall change simultaneously with each change in the Base Floating Rate.

Appears in 1 contract

Samples: Credit Agreement (Illinova Corp)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days. The applicable interest rate for each Base Interest Rate Loan shall change simultaneously with each change in the Base Eurodollar Rate referred to in the definition of "Interest Rate."

Appears in 1 contract

Samples: Credit Agreement (Lithia Motors Inc)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Prime Rate.

Appears in 1 contract

Samples: Credit Agreement (First Reserve Inc)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate. FEES.

Appears in 1 contract

Samples: Day Revolving Credit Agreement (Winmark Corp)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate. section 5 FEES.

Appears in 1 contract

Samples: Credit Agreement (Landauer Inc)

Computation of Interest. Interest on each Loan shall be computed for the actual number of days elapsed on the basis of a year of 360 days360-day year. The applicable interest rate for applicable to each Base Loan that bears interest at the Prime Rate Loan shall change simultaneously with each change in the Base Prime Rate.

Appears in 1 contract

Samples: Loan and Security Agreement (Paul Harris Stores Inc)

Computation of Interest. Interest shall be computed for the ----------------------- actual number of days elapsed on the basis of a year of 360 days. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate.

Appears in 1 contract

Samples: Credit Agreement (Kv Pharmaceutical Co /De/)

Computation of Interest. Interest shall be computed for the actual number of days elapsed on the basis of a year of 360 days; provided, that calculations of interest on Base Rate Loans will be made on the basis of a 365/366 day year and actual days elapsed. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate.

Appears in 1 contract

Samples: Credit Agreement (Aar Corp)

Computation of Interest. Interest on each Loan shall be ----------------------- computed for the actual number of days elapsed on the basis of a year of 360 days360-day year. The applicable interest rate for applicable to each Base Rate Loan shall change simultaneously with each change in such Base Rate. Upon conversion of less than all the aggregate principal amount of Base Rate Loans outstanding at any one time to a LIBOR Loan, interest on the remaining principal amount of Base Rate Loans shall continue to bear interest at the Base Rate.

Appears in 1 contract

Samples: Loan Agreement (Kv Pharmaceutical Co /De/)

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