Common use of Effective Global Rate Clause in Contracts

Effective Global Rate. (a) 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. (ai) For the purposes of article L.313-4 of the French Monetary and Financial Code, the French Borrower Borrowers and the Lenders acknowledge that, by virtue of certain characteristics of the Loans this Agreement (and in particular the variable floating rate of interest rate and adjustment of the Applicable Rate applicable to the Loans, and the French relevant Borrower’s right to select the duration of each Interest PeriodPeriod 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 Effective Datedate of this Agreement.