Common use of Interest Act Clause in Contracts

Interest Act. For purposes of disclosure pursuant to the Interest Act (Canada), the annual rates of interest or fees to which the rates of interest or fees provided in this Agreement and the other Loan Documents (and stated herein or therein, as applicable, to be computed on the basis of a 365 day year or any other period of time less than a calendar year) are equivalent are the rates so determined multiplied by the actual number of days in the applicable calendar year and divided by 365 or such other period of time, respectively.

Appears in 4 contracts

Samples: Credit Agreement (Solo Cup CO), Credit Agreement (Sr Telecom Inc), Credit Agreement (Sr Telecom Inc)

AutoNDA by SimpleDocs

Interest Act. For purposes of disclosure pursuant to the Interest Act (Canada), the annual rates of interest or fees to which the rates of interest or fees provided in any Credit Agreement and in this Agreement and the other Loan Documents (and stated herein or therein, as applicable, applicable to be computed on the basis of a 365 day year or any other period of time less than a calendar year) are equivalent are the rates so determined multiplied by the actual number of days in the applicable calendar year and divided by 365 or such other period of time, respectively.

Appears in 4 contracts

Samples: Canadian Security Agreement (Nortel Networks Corp), Foreign Pledge Agreement (Nortel Networks LTD), Canadian Guarantee and Security Agreement (Nortel Networks LTD)

Interest Act. For purposes of disclosure pursuant to the Interest ------------ Act (Canada), the annual rates of interest or fees fees, to which the rates of interest or fees provided in this Agreement and the other Loan Documents (Documents, and stated herein or therein, as applicable, to be computed on the basis of a 360 or 365 day year or any other period of time less than a calendar year) are equivalent equivalent, are the rates so determined multiplied by the actual number of days in the applicable calendar year and divided by 365 360 or such other period of time365, respectively.

Appears in 1 contract

Samples: Credit Agreement (Panolam Industries Inc)

Interest Act. For purposes of disclosure pursuant to the Interest Act (Canada), the annual rates of interest or fees to which the rates of interest or fees provided in this Agreement and the other Loan Documents Guarantee (and stated herein or therein, as applicable, to be computed on the basis of a 365 360 day year or any other period of time less than a calendar year) are equivalent are the rates so determined multiplied by the actual number of days in the applicable calendar year and divided by 365 360 or such other period of time, respectively.

Appears in 1 contract

Samples: General Continuing Guaranty (Securus Technologies, Inc.)

AutoNDA by SimpleDocs

Interest Act. For purposes of disclosure pursuant to the Interest Act (Canada), the annual rates of interest or fees to which the rates of interest or fees provided in this Agreement and the other Loan Documents (and stated herein or therein, as applicable, to be computed on the basis of a 365 360 day year or any other period of time less than a calendar year) are equivalent are the rates so determined multiplied by the actual number of days in the applicable calendar year and divided by 365 360 or such other period of time, respectively.

Appears in 1 contract

Samples: Credit Agreement (Hockey Co)

Interest Act. For purposes of disclosure pursuant to the Interest Act (Canada), the annual rates of interest or fees to which the rates of interest or fees provided in the Credit Agreement and in this Agreement and the other Loan Documents (and stated herein or therein, as applicable, applicable to be computed on the basis of a 365 day year or any other period of time less than a calendar year) are equivalent are the rates so determined multiplied by the actual number of days in the applicable calendar year and divided by 365 or such other period of time, respectively.

Appears in 1 contract

Samples: Canadian Guarantee and Security Agreement (Xerox Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!