On November 21, 2012, the Supreme Court of Ohio weighed in on the wave of class action lawsuits across the country challenging the 365/360 method for computing interest. The Court ruled in JNT Properties v. KeyBank, Slip Opinion No. 2012-Ohio-5369, that a clause in a commercial mortgage note expressly referencing the 365/360 method is unambiguous and enforceable. Click here to read the Client Alert.

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