 What day shall interest be payable for?
All interest hereunder shall be computed on the basis of a year of 360 days, except that interest computed (x) by reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate or (y) with respect to Loans denominated in Australian Dollars, in each case shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate, Adjusted LIBO Rate, Adjusted BBSW Rate or AUD Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.
the first day