Common use of Payment; Interest Computation Clause in Contracts

Payment; Interest Computation. Interest is payable monthly on the last calendar day of each month and shall be computed on the basis of a 360-day year for the actual number of days elapsed. In computing interest, (i) all payments received after 12:00 p.m. Eastern time on any day shall be deemed received at the opening of business on the next Business Day, and (ii) the date of the making of any Credit Extension shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension.

Appears in 4 contracts

Samples: Loan and Security Agreement (Outbrain Inc.), Loan and Security Agreement (Anadigics Inc), Loan and Security Agreement (Shopify Inc.)

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Payment; Interest Computation. Interest is payable monthly in arrears on the last calendar day of each month Payment Date and shall be computed on the basis of a 360-day year for the actual number of days elapsed. In computing interest, (i) all payments received after 12:00 1:00 p.m. Eastern time on any day shall be deemed received at the opening of business on the next Business Day, and (ii) the date of the making of any Credit Extension shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension.

Appears in 4 contracts

Samples: Loan and Security Agreement (Homology Medicines, Inc.), Loan and Security Agreement (Social Capital Suvretta Holdings Corp. I), Loan and Security Agreement (Social Capital Suvretta Holdings Corp. I)

Payment; Interest Computation. Interest is payable monthly in arrears on the last calendar day Business Day of each month and shall be computed on the basis of a 360365- or 366-day year year, as applicable, for the actual number of days elapsed. In computing interest, (i) all payments received after 12:00 p.m. Eastern time on any day shall be deemed received at the opening of business on the next Business Day, and (ii) the date of the making of any Credit Extension shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension.

Appears in 4 contracts

Samples: Loan and Security Agreement (Pulmonx Corp), Loan and Security Agreement (Pulmonx Corp), Loan and Security Agreement (Pulmonx Corp)

Payment; Interest Computation. Interest Except as otherwise noted, interest is payable monthly on the last calendar day of each month and shall be computed on the basis of a 360-day year for the actual number of days elapsed. In computing interest, (i) all payments received after 12:00 p.m. Eastern Pacific time on any day shall be deemed received at the opening of business on the next Business Day, and (ii) the date of the making of any Credit Extension shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension.

Appears in 3 contracts

Samples: Loan and Security Agreement (AltheaDx, Inc.), Loan and Security Agreement (AltheaDx, Inc.), Loan and Security Agreement (AltheaDx, Inc.)

Payment; Interest Computation. Interest is payable monthly on the last calendar day of each month and shall be computed on the basis of a 360-day year for the actual number of days elapsed. In computing interest, (i) all payments received after 12:00 2:00 p.m. Eastern time on any day shall be deemed received at the opening of business on the next Business Day, and (ii) the date of the making of any Credit Extension shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension.

Appears in 2 contracts

Samples: Loan and Security Agreement (Workiva LLC), Loan and Security Agreement (Workiva LLC)

Payment; Interest Computation. Interest with respect to Equipment Advances is payable monthly on the last calendar day of each month and shall be computed on the basis of a 360-day year for the actual number of days elapsed. In computing interest, (i) all payments received after 12:00 p.m. Eastern Pacific time on any day shall be deemed received at the opening of business on the next Business Day, and (ii) the date of the making of any Credit Extension shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension.

Appears in 2 contracts

Samples: Loan and Security Agreement (Marin Software Inc), Loan and Security Agreement (Marin Software Inc)

Payment; Interest Computation. Interest is payable monthly on the last calendar day of each month and shall be computed on the basis of a 360-day year for the actual number of days elapsed. In computing interest, (i) all payments received after 12:00 p.m. Eastern time on any day shall be deemed received at the opening of business on the next Business Day, and (ii) the date of the making of any Credit Extension shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension.”

Appears in 1 contract

Samples: Loan and Security Agreement (Amber Road, Inc.)

Payment; Interest Computation. Interest is payable monthly in arrears on the last calendar day of each calendar month and shall be computed on the basis of a three-hundred-sixty (360-) day year for the actual number of days elapsed. In computing interest, (i) all payments received after 12:00 p.m. Eastern Pacific time on any day shall be deemed received at the opening of business on the next Business Day, and (ii) the date of the making of any Credit Extension shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension.

Appears in 1 contract

Samples: Loan and Security Agreement (Leaf Group Ltd.)

Payment; Interest Computation. Interest is payable monthly on the last calendar day Payment Date of each month and shall be computed on the basis of a three hundred sixty (360-) day year for the actual number of days elapsed. In computing interest, (i) all payments received after 12:00 3:00 p.m. Eastern time on any day shall be deemed received at the opening of business on the next Business Day, and (ii) the date of the making of any Credit Extension shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension.

Appears in 1 contract

Samples: Loan and Security Agreement (Verona Pharma PLC)

Payment; Interest Computation. Interest is payable monthly in arrears on the last calendar day Payment Date of each month and shall be computed on the basis of a 360-day year for the actual number of days elapsed. In computing interest, (i) all payments received after 12:00 2:00 p.m. Eastern time on any day shall be deemed received at the opening of business on the next Business Day, and (ii) the date of the making of any Credit Extension shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension.

Appears in 1 contract

Samples: Loan and Security Agreement (Zovio Inc)

Payment; Interest Computation. Interest is payable monthly on the last calendar day of each month Payment Date as provided in Section 2.1.1(b) and (c) and shall be computed on the basis of a 360-day year for the actual number of days elapsed. In computing interest, (i) all payments received after 12:00 p.m. Eastern Pacific time on any day shall be deemed received at the opening of business on the next Business Day, and (ii) the date of the making of any Credit Extension shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension.

Appears in 1 contract

Samples: Loan and Security Agreement (Cti Biopharma Corp)

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Payment; Interest Computation. Interest is payable monthly in arrears on the last calendar day Payment Date of each month and shall be computed on the basis of a 360-day year for the actual number of days elapsed. In computing interest, (i) all payments received after 12:00 1:00 p.m. Eastern time on any day shall be deemed received at the opening of business on the next Business Day, and (ii) the date of the making of any Credit Extension shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension.

Appears in 1 contract

Samples: Loan and Security Agreement (Eidos Therapeutics, Inc.)

Payment; Interest Computation. Interest is payable monthly in arrears on the last first calendar day of each month and shall be computed on the basis of a 360-day year for the actual number of days elapsed. In computing interest, (i) all payments received after 12:00 2:00 p.m. Eastern time on any day shall be deemed received at the opening of business on the next Business Day, and (ii) the date of the making of any Credit Extension shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension.. 2.4

Appears in 1 contract

Samples: Loan and Security Agreement (Borderfree, Inc.)

Payment; Interest Computation. Interest is payable in arrears monthly on the last calendar day Payment Date of each month and shall be computed on the basis of a 360-day year for the actual number of days elapsed. In computing interest, (i) all payments received after 12:00 p.m. Eastern Pacific time on any day shall be deemed received at the opening of business on the next Business Day, and (ii) the date of the making of any Credit Extension shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension.

Appears in 1 contract

Samples: Loan and Security Agreement (Electro Scientific Industries Inc)

Payment; Interest Computation. Interest is payable monthly in arrears on the last calendar day Payment Date of each month and shall be computed on the basis of a three hundred sixty (360-) day year for the actual number of days elapsed. In computing interest, (i) all payments received after 12:00 p.m. Eastern Pacific time on any day shall be deemed received at the opening of business on the next Business Day, and (ii) the date of the making of any Credit Extension shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension.

Appears in 1 contract

Samples: Mezzanine Loan and Security Agreement (Velo3D, Inc.)

Payment; Interest Computation. Interest is payable monthly on the last calendar day of each month Payment Date and shall be computed on the basis of a three-hundred-sixty (360-) day year for the actual number of days elapsed. In computing interest, (i) all payments received after 12:00 2:00 p.m. Eastern time on any day shall be deemed received at the opening of business on the next Business Day, and (ii) the date of the making of any Credit Extension shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension.

Appears in 1 contract

Samples: Loan and Security Agreement (Alpha Healthcare Acquisition Corp.)

Payment; Interest Computation. Interest is payable monthly in arrears on the last calendar day Payment Date of each month and shall be computed on the basis of a 360-day three hundred sixty (360)-day year for the actual number of days elapsed. In computing interest, (i) all payments received after 12:00 p.m. Eastern Pacific time on any day shall be deemed received at the opening of business on the next Business Day, and (ii) the date of the making of any Credit Extension shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension.

Appears in 1 contract

Samples: Loan and Security Agreement (Grove Collaborative Holdings, Inc.)

Payment; Interest Computation. Interest Except as otherwise provided in Section 2.3(a), interest is payable monthly on the last first (1st) calendar day of each month and shall be computed on the basis of a 360-day year for the actual number of days elapsed. In computing interest, (i) all payments received after 12:00 p.m. Eastern Pacific time on any day shall be deemed received at the opening of business on the next Business Day, and (ii) the date of the making of any Credit Extension shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension.

Appears in 1 contract

Samples: Loan and Security Agreement (RingCentral Inc)

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