Commencement of Interest. (a) The coupons, if any, matured at the date of delivery by the Trustee of any coupon Debt Securities shall be detached therefrom and cancelled before delivery, unless such Debt Security is being issued in exchange or in substitution for another Debt Security (whether in interim or definitive form) other than pursuant to Section 2.8, whereupon such matured coupons shall represent unpaid interest to which the holder of such exchanged or substituted Debt Security is entitled.
(b) Each fully registered Debt Security issued hereunder, whether originally or upon exchange or in substitution for previously issued Debt Securities, shall, unless otherwise provided pursuant to Section 2.2, bear interest from its date of original issue or from the last interest payment date to which interest shall have been paid or made available for payment on such Debt Security, whichever shall be the later;
(c) Except as otherwise provided pursuant to Section 2.2, interest on Debt Securities shall be computed on the basis of a 360 day year comprised of 12 30-day months.
(d) For the purposes only of the disclosure required by the INTEREST ACT (Canada), and without affecting the amount of interest payable to any holder of a Debt Security or the calculation of interest on any Debt Security, if any rate of interest on any Debt Security is calculated on the basis of a year (the "deemed year") which contains fewer days than the actual number of days in the calendar year of calculation, such rate of interest shall be expressed as a yearly rate for the purposes of the INTEREST ACT (Canada) by multiplying such rate of interest by the actual number of days in the calendar year of calculation and dividing it by the number of days in the deemed year.
Commencement of Interest. 20 2.11 Debt Securities to Rank Pari Passu....................................20 2.12
Commencement of Interest. (a) The coupons, if any, matured at the date of delivery by the Trustee of any coupon Debentures shall be detached therefrom and cancelled before delivery, unless such Debenture is being issued in exchange or in substitution for another Debenture (whether in interim or definitive form) other than pursuant to Section 2.10, whereupon such matured coupons shall represent unpaid interest to which the holder of such exchanged or substituted Debenture is entitled.
(b) All fully registered Debentures issued hereunder, whether originally or upon exchange or in substitution for previously issued Debentures, shall bear interest from their date or from the last interest payment date to which interest shall have been paid or made available for payment on the outstanding Debentures of the same series and date of maturity, whichever shall be the later, or in respect of Medium Term Notes or other Debentures subject to a Periodic Offering, from their date or from the last interest payment date to which interest shall have been paid or made available for payment on such Debentures, whichever shall be the later.
(c) Except as otherwise specified or contemplated in a Debenture, interest for any period of less than one year shall be calculated on the basis of a year of 365 or 366 days as applicable. For the purposes of disclosure under the Interest Act (Canada) any Debenture on which interest is computed on a basis of a year of other than 365 or 366 days shall state the equivalent yearly interest rate as if such interest was computed on the basis of a year of 365 or 366 days.
Commencement of Interest. (a) All Debentures issued hereunder, whether originally or upon exchange or in substitution for previously issued Debentures, shall bear interest (i) from and including the date hereof, or (ii) from and including the last Interest Payment Date to which interest shall have been paid or made available for payment on the outstanding Debentures, whichever shall be later, in all cases, to and excluding the next Interest Payment Date.
(b) Unless otherwise specifically provided in the terms of the Debentures, interest shall be computed on the basis of a year of 365 or 366 days, as applicable. With respect to any Debenture, whenever interest is computed on a basis of a year (the “deemed year”) which contains fewer days than the actual number of days in the calendar year of calculation, such rate of interest shall be expressed as a yearly rate for purposes of the Interest Act (Canada) by multiplying such rate of interest by the actual number of days in the calendar year of calculation and dividing it by the number of days in the deemed year.
Commencement of Interest. All Debentures issued hereunder, whether issued originally or in exchange for other Debentures, shall bear interest from their date of issue or from the last interest payment date on which interest shall have been paid or made available for payment on the outstanding Debentures, whichever shall be the later. Interest on each Debenture will cease to accrue from the maturity date of such Debenture unless upon due presentation thereof, payment of the principal is improperly withheld or refused.
Commencement of Interest. All Notes issued hereunder, whether issued originally or in exchange for other Notes, shall bear interest from the Closing Date, or from the last interest payment date on which interest shall have been paid or made available for payment on the outstanding Notes, whichever shall be the later.
