Effective Global Rate. In order to fulfill the obligations imposed by articles L. 313-1 and L. 313-2 of the French Consumer Code (“Code de la Consommation”), Chase Manhattan International Limited represents to the French Borrowers, who accept such representation, that the effective global rate (“taux effectif global”) calculated in accordance with the articles referred to above, on the basis of a 365-day year, is 4.70191% per annum. The effective global rate (“taux effectif global”) was calculated on the basis of utilization of the Total Tranche B Revolving Credit Commitment, on February 28, 2001 and LIBO for an Interest Period of six months on February 28, 2001 of 4.70191%. Such rate is given on an indicative basis and shall not be binding on the Lenders in the future.
Effective Global Rate. The parties to this Contract acknowledge, as indicated to the Borrower in the TEG letter dated on the date hereof (the "TEG Letter"), that the effective global rate applicable to the Credit shall be determined in accordance with article L.314-1 to L.314-5 and R.314-1 et seq. of the French Monetary and Financial Code (Code monétaire et financier) and article L.313-4 of the French Code monétaire et financier of the French Consumer Code (Code de la consommation) and the terms of such TEG Letter. The Parties agree that this TEG Letter forms an integral part of this Contract.
Effective Global Rate. (a) For the application of the provisions of Clause R.313-1-1 of the French Monetary and Financial Code, each Party acknowledges that, taking into account the specificity of this Agreement (in particular the variable nature of the SFC rate), the Effective Global Rate cannot be calculated on the signing date of the Agreement but an indicative calculation of such rate shall be provided in this Clause 9.6.
(b) In application of Clause R.313-1-1 of the French Monetary and Financial Code, the indicative calculation, as of 9 December 2010, on the basis of a EURIBOR 3 month at 1.04% as of 9 December 2010, of the Effective Global Rate applicable to the Agreement is 3.35% per year.
(c) This rate is calculated, as an indication only, on the basis of a 365 day year (366 days for leap years) during the term of the Agreement, pursuant to the terms and conditions that normally apply, namely the following assumptions:
(i) an average delay in payments by the Debtors of sixty (60) calendar days;
(ii) a Special Financing Commission as specified in Clause 9.2; and
(iii) a Non-Utilization Fee as specified in Clause 9.4; and
(iv) the Holdback Reserve as specified in Clause 8.4.
(d) Even if the reference rate of the Special Financing Commission does not vary, the Effective Global Rate may increase or decrease during the term of the Agreement depending on changes to the various assumptions set out above and/or contractual parameters.
Effective Global Rate. For the purposes of article L.313-4 of the French Monetary and Financial Code, the French Borrower and the Lenders acknowledge that, by virtue of certain characteristics of the Loans (in particular the variable interest rate applicable to the Loans, and the French Borrower’s right to select the duration of each Interest Period), the taux effectif global cannot be calculated at the Effective Date.
Effective Global Rate. (i) For the purposes of article L.313-4 of the French Monetary and Financial Code, the French Borrowers and the Lenders acknowledge that, by virtue of certain characteristics of this Agreement (and in particular the floating rate of interest and adjustment of the Applicable Rate applicable to the Loans, the relevant Borrower’s right to select the duration of each Interest Period and the uncertainty as to the amount to be effectively drawn from time to time under this Agreement), the taux effectif global (“TEG”) cannot be calculated at the date of this Agreement.
(ii) However, the Borrowers acknowledge that they have received from the Administrative Agent a letter (“TEG Letter”) containing an indicative calculation of the taux effectif global, based on figured examples calculated on assumptions as to the taux de période and durée de période set out in the TEG Letter.
(iii) The Borrowers and the Lenders acknowledge that the TEG Letter delivered in accordance with paragraph (b) above forms part of this Agreement.
Effective Global Rate. For the purposes of articles L. 314-1 to L. 314-5 and R. 314-1 and seq. of the French Consumer Code (Code de la consommation) and article L.313-4 of the French Monetary and Financial Code (Code monétaire et financier), the Parties acknowledge that by virtue of certain characteristics of the Loan, the taux effectif global cannot be calculated at the date of this Agreement. However, in order to comply with the above mentioned regulations, , and only as an indication, assuming that (a) the full amount of the Loan has been drawn on the date of signature of the Agreement and shall remain fully drawn until the Maturity Date, (b) repayments occur at Maturity Date and not earlier, and (c) no fees or commissions are paid by the Borrower under the terms of the Agreement, the indicative effective global rate (taux effectif global) would amount to four per cent (4.00%) per annum with an annual period rate (taux de période) of four per cent (4.00%).
Effective Global Rate. (i) For the purposes of articles L.314-1 et seq. of the French Consumer Code and article L.313-4 of the French Monetary and Financial Code, the French Borrowers and the Lenders acknowledge that, by virtue of certain characteristics of this Agreement (and in particular the floating rate of interest and adjustment of the Applicable Rate applicable to the Loans, the relevant Borrower’s right to select the duration of each Interest Period and the uncertainty as to the amount to be effectively drawn from time to time under this Agreement), the taux effectif global (“TEG”) cannot be calculated at the date of this Agreement.
(ii) However, the Borrowers acknowledge that they have received from the Administrative Agent a letter (“TEG Letter”) containing an indicative calculation of the taux effectif global, based on figured examples calculated on assumptions as to the taux de période and durée de période set out in the TEG Letter.
(iii) The Borrowers and the Lenders acknowledge that the TEG Letter delivered in accordance with paragraph (b) above forms part of this Agreement.
Effective Global Rate. For the purposes of articles L. 313-1 et seq. of the French Code de la Consommation, the Parties acknowledge that by virtue of certain characteristics of the Facilities granted to France Manche (and in particular the variable nature of the interest rate applicable to the Loans), the effective global rate (taux effectif global) of the Facilities made available to France Manche cannot be calculated at the date of this Agreement. However, France Manche acknowledges that it has received from the Mandated Lead Arrangers a letter (a "TEG Letter") containing an indicative calculation of the effective global rate (taux effectif global) of the Facilities granted to it pursuant to this Agreement, based on figured examples calculated on assumptions set out in that TEG Letter. The Parties acknowledge that each such TEG Letter forms part of this Agreement.
Effective Global Rate. (Taux Effectif Global)
(a) For the purposes of Articles L.313-1, L313-2, R313-1 and R313-2 of the Code de la Consommation, each Party acknowledges that, by virtue of certain characteristics of this Agreement the taux effectif global cannot be calculated exactly on the date of this Agreement. However, each Original Borrower incorporated in France acknowledges that it has received from the Facility Agent a letter containing an indicative calculation of the taux effectif global substantially in the form of Schedule 9 based on examples calculated on assumptions as to the taux de periode and duree de periode set out in that letter.
(b) Each Party acknowledges that the letter referred to in paragraph (a) forms part of this Agreement.
Effective Global Rate. For the purposes of articles L. 313-4 of the French Code Monétaire et Financier and articles L. 313-1 and L. 313-2, R. 313-1 and R. 313-2 of the French Code de la Consommation, Lubrizol France acknowledges that the effective global rate (taux effectif global or TEG) for the Facility cannot be calculated as of the date hereof, primarily because of the floating nature of the rate of interest applicable to the Advances and the ability of the Borrowers to select the currency and the duration of each Interest Period. However, Lubrizol France acknowledges that it has received from the Agent, on the date hereof, a letter (the “TEG Letter”) containing an example of calculation of the effective global rate, based upon certain assumptions as set out in the TEG Letter. In addition, in the event that any French Designated Subsidiary becomes a Borrower hereunder, the Designation Letter for such additional Borrower shall contain an acknowledgement of such Designated Subsidiary similar to the acknowledgement of Lubrizol France contained in this Section 2.07(c) and a letter substantially in the same form as the TEG Letter. The TEG Letter and any other letter delivered to a French Designated Subsidiary shall form an integral part of this Agreement.
