Document ID: 3025

Text:
(b) Day Count Basis. Interest and fees shall be calculated on the basis of a 360-day year for the actual number of days elapsed (which results in more interest or fees, as the case may be, being paid than if calculated on the basis of a 365-day year); provided that interest with respect to Base Rate Loans incurring interest based on the Prime Rate shall be calculated on the basis of a 365/366- day year. The date of funding or conversion of a LIBOR Rate Loan to a Base Rate Loan and the first day of an Interest Period shall be included in the calculation of interest. The date of payment of any Loan and the last day of an Interest Period shall be excluded from the calculation of interest; provided, if a Loan is repaid on the same day that it is made, one days interest shall be charged.

Named Entities:
84
87
Ratio

Tokenized Text:
(
b
)
Day
Count
Basis
.
Interest
and
fees
shall
be
calculated
on
the
basis
of
a
360
-
day
year
for
the
actual
number
of
days
elapsed
(
which
results
in
more
interest
or
fees
,
as
the
case
may
be
,
being
paid
than
if
calculated
on
the
basis
of
a
365
-
day
year
)
;
provided
that
interest
with
respect
to
Base
Rate
Loans
incurring
interest
based
on
the
Prime
Rate
shall
be
calculated
on
the
basis
of
a
365
/
366
-
day
year
.
The
date
of
funding
or
conversion
of
a
LIBOR
Rate
Loan
to
a
Base
Rate
Loan
and
the
first
day
of
an
Interest
Period
shall
be
included
in
the
calculation
of
interest
.
The
date
of
payment
of
any
Loan
and
the
last
day
of
an
Interest
Period
shall
be
excluded
from
the
calculation
of
interest
;
provided
,
if
a
Loan
is
repaid
on
the
same
day
that
it
is
made
,
one
days
interest
shall
be
charged
.