Interest Act. For the purposes of the Interest Act (Canada) and disclosure under such Act, whenever interest to be paid under this Agreement or any Loan Document is to be calculated on the basis of a year of 365 days or 360 days or any other period of time that is less than a calendar year, the yearly rate of interest to which the rate determined pursuant to such calculation is equivalent is the rate so determined multiplied by the actual number of days in the calendar year in which the same is to be ascertained and divided by either 365, 360 or such other period of time, as the case may be.
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Samples: Note Purchase Agreement, Note Purchase Agreement (Arkados Group, Inc.), Loan Agreement (Rubicon Minerals Corp)
Interest Act. For the purposes of the Interest Act (Canada) and disclosure under such Actstatute, whenever interest to be paid under this Agreement or any other Loan Document is to be calculated on the basis of a year of 365 days or 360 three-hundred sixty (360) days or any other period of time that is less than a calendar year, the yearly rate of interest to which the rate determined pursuant to such calculation is equivalent is the rate so determined multiplied by the actual number of days in the calendar year in which the same is to be ascertained and divided by either 365, 360 or such other period of time, as the case may be.
Appears in 2 contracts
Samples: Credit Agreement (Pretium Resources Inc.), Credit Agreement
Interest Act. For the purposes of the Interest Act (Canada) and disclosure under such Actact, whenever interest to be paid under this Agreement or any Loan Document is to be calculated on the basis of a year of 365 days or 360 366 days or any other period of time that is less than a calendar year, the yearly rate of interest to which the rate determined pursuant to such calculation is equivalent is the rate so determined multiplied by the actual number of days in the calendar year in which the same is to be ascertained and divided by either 365, 360 365 or 366 or such other period of time, as the case may be.
Appears in 1 contract
Interest Act. For the purposes of the Interest Act (Canada) and disclosure under such Actact, whenever interest to be paid under this Agreement or any Loan Document is to be calculated on the basis of a year of 365 days or 360 days or any other period of time that is less than a calendar year, the yearly rate of interest to which the rate determined pursuant to such calculation is equivalent is the rate so determined multiplied by the actual number of days in the calendar year in which the same is to be ascertained and divided by either 365, 360 or such other period of time, as the case may be.
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