Common use of Extension Interest Clause in Contracts

Extension Interest. The principal amount of the Extended Loan will bear interest at the greater of: (a) 14% per annum; and (b) the quoted rate for 18 month Government of Canada bonds, plus 8%, calculated and paid quarterly in arrears, plus an additional 4% per annum, accrued and compounded, per annum, at the rate of interest equal to the sum of the rate in paragraph (a) or (b), as applicable, plus 4%, quarterly in arrears and payable on the earlier of the Maturity Date and the date the Extended Loan are repaid in full.

Extension Interest. The principal amount of the Extended Loan Loans will bear interest at the greater of: (a) 14% per annum; and (b) the quoted rate for 18 month Government of Canada bonds, plus 8%, calculated and paid quarterly in arrears, plus an additional 4% per annum, accrued and compounded, per annum, at the rate of interest equal to the sum of the rate in paragraph (a) or (b), as applicable, plus 4%, quarterly in arrears and payable on the earlier of the Maturity Date and the date the Extended Loan Loans are repaid in full.