Common use of General Interest Provisions Clause in Contracts

General Interest Provisions. (a) In the event of any dispute, disagreement or adjudication involving or pertaining to the determination of the Prime Rate, USBR, LIBOR or CDOR Rate in effect at any time, the certificate of the Agent as to such rate shall be accepted as prima facie evidence thereof for all purposes of this Agreement. (b) Each determination by the Agent of the amount of interest, fees or other amounts due from the Borrower hereunder shall be prima facie evidence of the accuracy of such determination. (c) All interest, fees and other amounts payable by the Borrower hereunder shall accrue daily, be computed as described herein, and be payable both before and after demand, maturity, default and judgment. (d) To the maximum extent permitted by law, (i) the covenant of the Borrower to pay interest at the rates provided herein shall not merge in any judgment relating to any obligation of the Borrower to the Lenders and (ii) the provisions of the Judgment Interest Act (Alberta) shall not apply to the Loan Documents and are hereby expressly waived by the Borrower. (e) Notwithstanding any provision herein to the contrary, in no event shall the aggregate "interest" (as defined in Section 347 of the Criminal Code (Canada)) payable under the Loan Documents exceed the maximum effective annual rate of interest on the "credit advanced" (as defined in that section) permitted under that section and, if any payment, collection or demand pursuant to this Agreement in respect of "interest" (as defined in that section) is determined to be contrary to the provisions of that section, such payment, collection or demand shall be deemed to have been made by mutual mistake of the Borrower and the Lenders and the amount of such payment or collection shall be refunded to the Borrower.

General Interest Provisions. (a) In the event of any dispute, disagreement or adjudication involving or pertaining to the determination of the Prime Rate, USBR, LIBOR Rate or CDOR Rate in effect at any time, the certificate of the Agent as to such rate shall be accepted as prima facie evidence thereof for all purposes of this Agreement. (b) Each determination by the Agent of the amount of interest, fees or other amounts due from the Borrower hereunder shall be prima facie evidence of the accuracy of such determination. (c) All interest, fees and other amounts payable by the Borrower hereunder shall accrue daily, be computed as described herein, and be payable both before and after demand, maturity, default and judgment. (d) To the maximum extent permitted by law, (i) the covenant of the Borrower to pay interest at the rates provided herein shall not merge in any judgment relating to any obligation of the Borrower to the Lenders and Lenders. (iie) In no event shall any interest, fees or other amounts payable hereunder exceed the maximum rate permitted by Law. If any such interest or fee exceeds such maximum rate, such interest or fee shall be reduced to the maximum rate recoverable under Law assuming that the parties had agreed to such amount by contract. (f) The Borrower hereby waives, to the fullest extent it may do so under Law, any provisions of Law, including specifically the Interest Act (Canada) and the Judgment Interest Act (Alberta), which may be inconsistent with this Agreement. (g) The principle of deemed reinvestment of interest shall not apply to any interest calculation under this Agreement; all interest payments to be made hereunder shall be paid without allowance or deduction for deemed reinvestment or otherwise, before and after maturity, default and judgment. The rates of interest specified in this Agreement are intended to be nominal rates and not effective rates. Interest calculated hereunder shall be calculated using the Loan Documents nominal rate method and are hereby expressly waived by not the Borrowereffective rate method of calculation. (eh) Notwithstanding any provision herein to For the contrary, in no event shall the aggregate "interest" (as defined in Section 347 purposes of the Criminal Code Interest Act (Canada)): (i) payable under the Loan Documents exceed the maximum effective annual whenever a rate of interest or other rate per annum hereunder is expressed or calculated on the basis of a year (the "credit advanced" (as defined deemed year") which contains fewer days than the actual number of days in that section) permitted under that section and, if any payment, collection or demand pursuant to this Agreement in respect the calendar year of "interest" (as defined in that section) is determined to be contrary to the provisions of that sectioncalculation, such payment, collection or demand rate of interest shall be deemed to have been made by mutual mistake expressed as a yearly rate for purposes of the Borrower 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 Lenders and number of days in the amount deemed year; (ii) whenever a rate of interest or other rate per annum hereunder is expressed or calculated on the basis of a year of 360 days, such payment rate of interest or collection other rate shall be refunded to expressed as a rate per annum, calculated on the Borrowerbasis of a 365 day year, by multiplying such rate of interest or other rate by 365 and dividing it by 360; (iii) THE BORROWER ACKNOWLEDGES AND CONFIRMS THAT: (A) THIS AGREEMENT, INCLUDING SECTION 3.8 HEREOF AND THE CONSTITUENT DEFINITIONS HEREIN AND UNDER THE OTHER LOAN DOCUMENTS RELATING TO INTEREST AND OTHER AMOUNTS PAYABLE HEREUNDER AND THEREUNDER, SATISFIES THE REQUIREMENTS OF SECTION 4 OF THE INTEREST ACT (CANADA) TO THE EXTENT THAT SUCH SECTION 4 OF THE INTEREST ACT (CANADA) APPLIES TO THE EXPRESSION, STATEMENT OR CALCULATION OF ANY RATE OF INTEREST OR OTHER RATE PER ANNUM HEREUNDER OR UNDER ANY OTHER LOAN DOCUMENT; AND (B) THE BORROWER AND THE BORROWER'S SUBSIDIARIES ARE EACH ABLE TO CALCULATE THE YEARLY RATE OR PERCENTAGE OF INTEREST PAYABLE UNDER ANY LOAN DOCUMENT BASED ON THE METHODOLOGY SET OUT HEREIN AND UNDER THE OTHER LOAN DOCUMENTS, INCLUDING THIS SECTION 3.8 AND THE CONSTITUENT DEFINITIONS HEREIN AND UNDER THE OTHER LOAN DOCUMENTS RELATING TO INTEREST AND OTHER AMOUNTS PAYABLE HEREUNDER AND THEREUNDER; and (iv) THE BORROWER HEREBY IRREVOCABLY AGREES NOT TO, AND AGREES TO CAUSE EACH OF ITS SUBSIDIARIES NOT TO, PLEAD OR ASSERT, WHETHER BY WAY OF DEFENCE OR OTHERWISE, IN ANY PROCEEDING RELATING TO THE LOAN DOCUMENTS, THAT THE INTEREST PAYABLE UNDER THE LOAN DOCUMENTS AND THE CALCULATION THEREOF HAS NOT BEEN ADEQUATELY DISCLOSED TO THE BORROWER OR ANY SUBSIDIARY, WHETHER PURSUANT TO SECTION 4 OF THE INTEREST ACT (CANADA) OR ANY OTHER APPLICABLE LAW OR LEGAL PRINCIPLE.

General Interest Provisions. ‌ (a) In the event of any dispute, disagreement or adjudication involving or pertaining to the determination of the Prime Rate, USBR, LIBOR or CDOR Rate in effect at any time, the certificate of the Agent as to such rate shall be accepted as prima facie evidence thereof for all purposes of this Agreement. (b) Each determination by the Agent of the amount of interest, fees or other amounts due from the Borrower hereunder shall be prima facie evidence conclusive and binding for all purposes of the accuracy of such determinationthis Agreement, absent manifest error. (cb) All interest, fees and other amounts payable by the Borrower hereunder shall accrue daily, be computed as described herein, and be payable both before and after demand, maturity, default and judgment. (dc) To the maximum extent permitted by lawApplicable Law, (i) the covenant of the Borrower to pay interest at the rates provided herein shall not merge in any judgment relating to any obligation of the Borrower to the Lenders or the Agent and (ii) the provisions any provision of the Interest Act (Canada) or Judgment Interest Act (Alberta) which restricts any rate of interest set forth herein shall not apply be inapplicable to the Loan Documents this Agreement and are is hereby expressly waived by the Borrower. (d) No interest or fee to be paid hereunder shall be paid at a rate exceeding the maximum rate permitted by Applicable Law. In the event that such interest or fee exceeds such maximum rate, such interest or fees shall be reduced or refunded, as the case may be, so as to be payable at the highest rate recoverable under Applicable Law. (e) Notwithstanding Whenever a rate of interest hereunder 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 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. (f) The principle of deemed reinvestment of interest shall not apply to any provision interest calculation under this Agreement; all interest payments to be made hereunder shall be paid without allowance or deduction for deemed reinvestment or otherwise, before and after maturity, default and judgment. The rates of interest specified in this Agreement are intended to be nominal rates and not effective rates. Interest calculated hereunder shall be calculated using the nominal rate method and not the effective rate method of calculation. (g) The Borrower represents, acknowledges and confirms that each of the Borrower Group Obligors is able to calculate the yearly rate or percentage of interest payable under any Loan Document based upon the methodology set out herein and under the other Loan Documents, and irrevocably agrees to not, and agrees to cause each of the Subsidiaries to not, plead or assert by way of defence or otherwise, in any proceeding related to the contraryLoan Documents, in no event shall that the aggregate "interest" (as defined in Section 347 of the Criminal Code (Canada)) interest payable under the Loan Documents exceed and the maximum effective annual rate of interest on calculation thereof has not been adequately disclosed to the "credit advanced" (as defined in that section) permitted under that section andBorrower or any Subsidiary, if any payment, collection or demand whether pursuant to this Agreement in respect of "interest" (as defined in that section) is determined to be contrary to the provisions of that section, such payment, collection or demand shall be deemed to have been made by mutual mistake Section 4 of the Borrower and the Lenders and the amount of such payment Interest Act (Canada) or collection shall be refunded to the Borrowerany other Applicable Law or principle.

General Interest Provisions. (a) In the event of any dispute, disagreement or adjudication involving or pertaining to the determination of the Prime Rate, USBR, LIBOR or CDOR Rate in effect at any time, the certificate of the Agent as to such rate All interest payable hereunder shall be accepted as prima facie evidence thereof for all purposes of this Agreementpaid in U.S. Dollars. (b) Interest on the outstanding principal amount of the Loan shall be compounded on a monthly basis. (c) Accrued interest on any such principal amount shall be payable upon the earlier of the Maturity Date or the termination of the Credit Facility, provided that if any principal, interest or other amount is not paid when due hereunder, then accrued interest on the Loan shall be payable on demand. (d) Interest on the outstanding principal amount of the Loan shall accrue from day to day, both before and after default, demand, maturity and judgment. All interest hereunder shall be computed on the basis of a year of 365 days (or 366 days in a leap year) and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). Each determination by the Agent Lender of the amount of interest, fees or other amounts due from the Borrower hereunder shall be prima facie evidence of the accuracy of such determination. (c) All interest, fees and other amounts payable by the Borrower hereunder shall accrue daily, be computed as described herein, and be payable both before and after demand, maturity, default and judgment. (de) To the maximum extent permitted by lawLaw, (i) the covenant of the Borrower to pay interest at the rates provided herein shall not merge in any judgment relating to any obligation of the Borrower to the Lenders Lender and (ii) the provisions of the Judgment Interest Act (Alberta) shall not apply to the Loan Documents and are hereby expressly waived by the Borrower. (ef) Notwithstanding any provision herein to the contrary, in no event shall the aggregate "“interest" ” (as defined in Section 347 of the Criminal Code (Canada)) payable under the Loan Documents exceed the maximum effective annual rate of interest on the "“credit advanced" ” (as defined in that section) permitted under that section and, if any payment, collection or demand pursuant to this Agreement in respect of "“interest" ” (as defined in that section) is determined to be contrary to the provisions of that section, such payment, collection or demand shall be deemed to have been made by mutual mistake of the Borrower and the Lenders Lender and the amount of such payment or collection shall be refunded to the Borrower. (g) For the purposes of the Interest Act (Canada): (i) the annual rate of interest which is equivalent to the interest rate for Advances hereunder shall be the determined rate multiplied by a fraction, the numerator of which is the total number of days in such year and the denominator of which is 365; (ii) the principle of deemed reinvestment of interest shall not apply to any interest calculation under this Agreement; and (iii) the rates of interest specified in this Agreement are intended to be nominal rates and not effective rates.

General Interest Provisions. (a) In Each determination by the event of any dispute, disagreement or adjudication involving or pertaining to the determination Agent of the Prime Rate, USBRU.S. Base Rate, LIBOR LIBO Rate or CDOR Rate in effect at any time, the certificate of the Agent as to such rate time shall be accepted as prima facie evidence thereof conclusive and binding for all purposes of this Agreement, absent manifest error. (b) Each determination by the Agent of the amount of interest, fees or other amounts due from the Borrower hereunder shall be prima facie evidence conclusive and binding for all purposes of the accuracy of such determinationthis Agreement, absent manifest error. (c) All interest, fees and other amounts payable by the Borrower hereunder shall accrue daily, be computed as described herein, and be payable both before and after demand, maturity, default and judgment. (d) To the maximum extent permitted by lawApplicable Law, (i) the covenant of the Borrower to pay interest at the rates provided herein shall not merge in any judgment relating to any obligation of the Borrower to the Lenders or the Agent and (ii) the provisions any provision of the Interest Act (Canada) or Judgment Interest Act (Alberta) which restricts any rate of interest set forth herein shall not apply be inapplicable to the Loan Documents this Agreement and are is hereby expressly waived by the Borrower. (e) Notwithstanding No interest or fee to be paid hereunder shall be paid at a rate exceeding the maximum rate permitted by Applicable Law. In the event that such interest or fee exceeds such maximum rate, such interest or fees shall be reduced or refunded, as the case may be, so as to be payable at the highest rate recoverable under Applicable Law. (f) Whenever a rate of interest hereunder 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 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. (g) The principle of deemed reinvestment of interest shall not apply to any provision interest calculation under this Agreement; all interest payments to be made hereunder shall be paid without allowance or deduction for deemed reinvestment or otherwise, before and after maturity, default and judgment. The rates of interest specified in this Agreement are intended to be nominal rates and not effective rates. Interest calculated hereunder shall be calculated using the nominal rate method and not the effective rate method of calculation. (h) The Borrower represents, acknowledges and confirm that each of the Borrower Group Obligors is able to calculate the yearly rate or percentage of interest payable under any Loan Document based upon the methodology set out herein and under the other Loan Documents, and irrevocably agrees to not, and agrees to cause each of the Subsidiaries to not, plead or assert by way of defence or otherwise, in any proceeding related to the contraryLoan Documents, in no event shall that the aggregate "interest" (as defined in Section 347 of the Criminal Code (Canada)) interest payable under the Loan Documents exceed and the maximum effective annual rate of interest on calculation thereof has not been adequately disclosed to the "credit advanced" (as defined in that section) permitted under that section andBorrower or any Subsidiary, if any payment, collection or demand whether pursuant to this Agreement in respect of "interest" (as defined in that section) is determined to be contrary to the provisions of that section, such payment, collection or demand shall be deemed to have been made by mutual mistake Section 4 of the Borrower and the Lenders and the amount of such payment Interest Act (Canada) or collection shall be refunded to the Borrowerany other Applicable Law or principle.

General Interest Provisions. (a) In Each determination by the event of any dispute, disagreement or adjudication involving or pertaining to the determination Agent of the Prime Rate, USBRUS Base Rate, LIBOR CDOR Rate or CDOR LIBO Rate in effect at any time, the certificate of the Agent as to such rate time shall be accepted as prima facie evidence thereof for all purposes of this Agreement, absent manifest error. (b) Each determination by the Agent of the amount of interest, fees or other amounts due from the Borrower hereunder shall be prima facie evidence of the accuracy of such determination, absent manifest error. (c) All interest, fees and other amounts payable by the Borrower hereunder shall accrue daily, be computed as described herein, and be payable both before and after demand, maturity, default and judgment. (d) To the maximum extent permitted by lawApplicable Law, (i) the covenant of the Borrower to pay interest at the rates provided herein shall not merge in any judgment relating to any obligation of the Borrower to the Lenders or the Agent and (ii) the provisions any provision of the Interest Act (Canada) or Judgment Interest Act (Alberta) which restricts any rate of interest set forth herein shall not apply be inapplicable to the Loan Documents this Agreement and are is hereby expressly waived by the Borrower. (e) Notwithstanding any provision herein No interest or fee to the contrary, in no event be paid hereunder shall the aggregate "interest" (as defined in Section 347 of the Criminal Code (Canada)) payable under the Loan Documents exceed be paid at a rate exceeding the maximum effective annual rate permitted by Applicable Law. In the event that such interest or fee exceeds such maximum rate, such interest or fees shall be reduced or refunded, as the case may be, so as to be payable at the highest rate recoverable under Applicable Law. (f) Whenever a rate of interest hereunder is calculated on the "credit advanced" 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 defined 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. (g) The principle of deemed reinvestment of interest shall not apply to any interest calculation under this Agreement; all interest payments to be made hereunder shall be paid without allowance or deduction for deemed reinvestment or otherwise, before and after maturity, default and judgment. The rates of interest specified in this Agreement are intended to be nominal rates and not effective rates. Interest calculated hereunder shall be calculated using the nominal rate method and not the effective rate method of calculation. (h) The Borrower confirms that section) permitted under that section andeach of the Obligors and the Parent Pledgors understands and is able to calculate the rate of interest applicable to Loans based on the methodology for calculating per annum rates provided in this Agreement. The Borrower irrevocably agrees not to plead or assert (and to cause each other Obligor and each Parent Pledgor to not plead or assert), if whether by way of defence or otherwise, in any payment, collection or demand pursuant proceeding relating to this Agreement in respect of "interest" (as defined in or any other Loan Document, that section) is determined to be contrary to the provisions of that section, such payment, collection interest payable under this Agreement or demand shall be deemed to have been made by mutual mistake of the Borrower any other Loan Document and the Lenders and the amount of such payment or collection shall be refunded calculation thereof has not been adequately disclosed to the Borrower, the other Obligors and the Parent Pledgors as required pursuant to Section 4 of the Interest Act (Canada) or any other Applicable Law.