Common use of General Interest Provisions Clause in Contracts

General Interest Provisions. (a) All interest payable hereunder shall be paid 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 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. (e) 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 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. (f) 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 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) All interest payable hereunder shall be paid 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 Lender 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. (eb) 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. (c) To the maximum extent permitted by Applicable 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 Lender 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. (fd) 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. (e) Whenever a rate of interest hereunder is calculated on the “credit advanced” basis of a year (as defined the 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 of the Borrower and the Lender and the amount of such payment or collection shall be refunded to the Borrower. (g) For the expressed as a yearly rate for purposes of the Interest Act (Canada): (i) the annual by multiplying such rate of interest which is equivalent to by the interest rate for Advances hereunder shall be the determined rate multiplied by a fraction, the numerator of which is the total actual number of days in such the calendar year of calculation and dividing it by the denominator number of which is 365;days in the deemed year. (iif) the The principle of deemed reinvestment of interest shall not apply to any interest calculation under this Agreement; and (iii) the 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 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 principle.

General Interest Provisions. (a) All interest payable hereunder In the event of any dispute, disagreement or adjudication involving or pertaining to the determination of the Prime Rate or CDOR Rate in effect at any time, the certificate of the Agent as to such rate shall be paid in U.S. Dollarsaccepted as prima facie evidence thereof for all purposes of this Agreement. (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 Lender 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. (ec) 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 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 Lender 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) shall not apply to the Loan Documents and are hereby expressly waived by the Borrower. (f) 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 which may be inconsistent with 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 Lender and the amount of such payment or collection shall be refunded to the BorrowerAgreement. (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 The principle of deemed reinvestment of interest shall not apply to any interest calculation under this Agreement; and (iii) the 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) For the purposes of the Interest Act (Canada): (i) whenever a rate of interest or other rate per annum hereunder is expressed or 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; (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 rate of interest or other rate shall be expressed as a rate per annum, calculated on the basis 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) All interest payable hereunder Each determination by the Agent of the Prime Rate, USBR, Libor or CDOR Rate in effect at any time shall be paid in U.S. Dollarsprima facie evidence thereof for all purposes of this Agreement. (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 Lender 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. (ec) 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 Applicable 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 Lender 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) 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) 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 Whenever a rate of interest hereunder is 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 of the Borrower and the Lender and the amount of such payment or collection shall be refunded to the Borrower. (g) For the expressed as a yearly rate for purposes of the Interest Act (Canada): (i) the annual by multiplying such rate of interest which is equivalent to by the interest rate for Advances hereunder shall be the determined rate multiplied by a fraction, the numerator of which is the total actual number of days in such the calendar year of calculation and dividing it by the denominator number of which is 365;days in the deemed year. (iig) the The principle of deemed reinvestment of interest shall not apply to any interest calculation under this Agreement; and (iii) the 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.