Annual Equivalents. For the purposes of the Interest Act (Canada), the annual rates of interest to which are equivalent the rate determined in accordance with the provisions of Section 3.1 are the following rate: (the quoted rate) x (number of days in the year) ÷ 365 = % per annum.
Appears in 4 contracts
Samples: Loan Agreement (KWESST Micro Systems Inc.), Loan Agreement (KWESST Micro Systems Inc.), Loan Agreement (KWESST Micro Systems Inc.)
