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.

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.

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.