(a)   Interest and fees payable pursuant hereto shall be calculated on the basis of a 360-day year for the actual days elapsed, and fractions less than one (1) cent shall be rounded down.  The Administrative Agent shall as soon as practicable notify the Borrower and the relevant Lenders of each determination of a LIBO Rate.  Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on any Loan (or portion of a Loan) for the day on which such Loan is paid.  For purposes of calculating accrued interest on all Loans, interest shall accrue on the first day of each Interest Period, but not the last day of such period.