Common use of Interest Act Clause in Contracts

Interest Act. For purposes of the Interest Act (Canada), where in this Agreement a rate of interest is to be calculated on the basis of a year of 365 days, the yearly rate of interest to which the rate is equivalent is the rate multiplied by the number of days in the year for which the calculation is made and divided by 365.

Interest Act. For purposes of the Interest Act (Canada), where in this Agreement a rate of interest is to be calculated on the basis of a year of 365 360, 365, or 366 days, the yearly rate of interest to which the rate is equivalent is the that rate multiplied by the number of days in the calendar year for which the calculation is made and divided by 360, 365, or 366, as applicable.

Interest Act. For purposes of the Interest Act (Canada)Where, where in this Agreement Agreement, a rate of interest or fees is to be calculated on the basis of a year 360-day year, such rate is, for the purpose of 365 daysthe Interest Act (Canada), equivalent to the yearly said rate of interest to which the rate is equivalent is the rate (i) multiplied by the actual number of days in the one year for which period beginning on the first day of the period of calculation is made and (ii) divided by 365360.

Interest Act. For purposes of the Interest Act (Canada), where in this Agreement a rate of interest is to be calculated on the basis of a year of 360 or 365 days, the yearly rate of interest to which the rate is equivalent is the rate multiplied by the number of days in the year for which the calculation is made and divided by 360 or 365, as applicable.

Interest Act. For the purposes of the Interest Act (Canada), where in this Agreement a rate of whenever any interest on any amount payable hereunder is to be calculated on the basis of a year period of 365 daystime other than a calendar year, the yearly annual rate of interest to which the each rate of interest determined pursuant to such calculation is equivalent is such rate as so determined multiplied by the rate multiplied actual number of days in the calendar year in which the same is to be ascertained and divided by the number of days used in the year basis for which the calculation is made and divided by 365such determination.

Interest Act. For (Canada). Whenever interest is calculated on the basis of a year of 360 or 365 days, for the purposes of the Interest Act (Canada), where in this Agreement a rate of interest is to be calculated on the basis of a year of 365 days, the yearly rate of interest which is equivalent to which the rate is equivalent payable hereunder is the rate payable multiplied by the actual number of days in the year for which the calculation is made and divided by 360 or 365, as the case may be. All interest will be calculated using the nominal rate method and not the effective rate method and the deemed reinvestment principle shall not apply to such calculations.

Interest Act. For the purposes of the Interest Act (Canada), where in this Agreement a any amount of interest or fees calculated herein using 360, 365 or 366 days per year and expressed as an annual rate is equal to the said rate of interest is to be calculated on the basis of a year of 365 days, the yearly rate of interest to which the rate is equivalent is the rate or fees multiplied by the actual number of days in comprised within the year for which the calculation is made and calendar year, divided by 365360, 365 or 366, as the case may be.

Interest Act. For purposes of the Interest Act (Canada), where in this Agreement any Loan Document (i) a rate of interest is to be calculated on the basis of a year of 365 360 days, the yearly rate of interest to which the 360 day rate is equivalent is the such rate multiplied by the number of days in the year for which the such calculation is made and divided by 360, or (ii) an annual rate of interest is to be calculated during a leap year, the yearly rate of interest to which such rate is equivalent is such rate multiplied by 366 and divided by 365.

Interest Act. For purposes of the Interest Act (Canada), where in whenever any interest or fee under this Agreement or any other Document is calculated using a rate based on a number of interest is days less than a full year, such rate determined pursuant to be calculated on the basis of a year of 365 dayssuch calculation, the yearly rate of interest to which the rate when expressed as an annual rate, is equivalent is to (x) the rate applicable rate, (y) multiplied by the actual number of days in the calendar year in which the period for which the calculation such interest or fee is made and divided by 365.payable (or compounded) ends, and

Interest Act. For purposes of the Interest Act (Canada), where in this Agreement any Credit Document (i) a rate of interest is to be calculated on the basis of a year of 365 360 days, the yearly rate of interest to which the 360 day rate is equivalent is the such rate multiplied by the number of days in the year for which the such calculation is made and divided by 360, or (ii) an annual rate of interest is to be calculated during a leap year, the yearly rate of interest to which such rate is equivalent is such rate multiplied by 366 and divided by 365.

Interest Act. For the purposes of the Interest Act (Canada), where in this Agreement a rate of interest is to be calculated on the basis of a year of 360 or 365 days, as applicable (the "first rate"), the yearly rate of interest to which the first rate is equivalent is the first rate multiplied by the actual number of days in the year for which the such calculation is made and divided by 365360 or 365 (as applicable).

Interest Act. For purposes of the Interest Act (Canada)Where, where in this Agreement Agreement, a rate of interest or fees is to be calculated on the basis of a year 360-day year, such per annum rate is, for the purpose of 365 daysthe Interest Act (Canada), equivalent to the yearly said rate of interest to which the rate is equivalent is the rate (i) multiplied by the actual number of days in the one year for which period beginning on the first day of the period of calculation is made and (ii) divided by 365360.

Interest Act. For Where any rate of interest, or fee expressed as a rate of interest, herein is calculated on the basis of a year of 360 days, in this Agreement such rate expressed as an annual rate of interest for purposes of the Interest Act (Canada), where in this Agreement a rate of interest is to shall be calculated on the basis of a year of 365 days, the yearly rate of interest to which the rate is equivalent is the such rate multiplied by 365, or 366 where the number of days in the year period for which the calculation interest is made being calculated includes February 29, and divided by 365360.

Interest Act. For purposes of the Interest Act (Canada), where in this Agreement a rate of interest is to be calculated on the basis of a year of 360, 365 or 366 days, the yearly rate of interest to which the rate is equivalent is the rate multiplied by the number of days in the year for which the calculation is made and divided by 365360, 365 or 366, as applicable. The rates of interest under this Agreement are nominal rates, and not effective rates or yields. The principle of deemed reinvestment of interest does not apply to any interest calculation under this Agreement.

Interest Act. For (Canada). Solely for the purposes of disclosure pursuant to the Interest Act (Canada)) and without affecting any calculation of interest required by this Indenture or the Convertible Notes, where in whenever any interest payable under this Agreement Indenture or the Convertible Notes is calculated using a rate of interest is to be calculated based on the basis of a year of 365 360 days, the yearly rate of interest to which the rate such rate, when expressed as an annual rate, is equivalent is the to such rate multiplied by the number of days in the calendar year for in which the calculation interest is made and paid divided by 365360.

Interest Act. For purposes of the Interest Act (Canada), where in this Agreement a rate of interest is to be calculated on the basis of a year of 360 or 365 days, the yearly rate of interest to which the rate is equivalent is the rate multiplied by the actual number of days in the year for which the calculation is made and divided by 360 or 365, as applicable.

Interest Act. (Canada). For purposes of the Interest Act (Canada), where in this Financing Agreement a rate of interest is to be calculated on the basis of a year of 360 or 365 days, the yearly rate of interest to which the rate is equivalent is the rate multiplied by the number of days in the year for which the calculation is made and divided by 360 or 365, as applicable.