Common use of Interest on CDOR Rate Loans Clause in Contracts

Interest on CDOR Rate Loans. The Borrower shall pay interest on each CDOR Rate Loan owing by it during each Interest Period applicable thereto in Canadian Dollars at a rate per annum equal to the CDOR Rate with respect to such Interest Period plus the Applicable Pricing Rate. Each determination by the Lender of the CDOR Rate applicable to an Interest Period shall be prima facie evidence thereof. Such interest shall accrue daily and shall be payable in arrears on each Interest Payment Date for such Loan for the period from and including the Drawdown Date or the preceding Rollover Date, Conversion Date or Interest Payment Date, as the case may be, for such Loan to and including the day preceding such Interest Payment Date and shall be calculated on the principal amount of the CDOR Loan outstanding during such period and on the basis of the actual number of days elapsed in a year of 365 days.

Interest on CDOR Rate Loans. The Borrower shall pay interest on each CDOR Rate Loan owing by it during each Interest Period applicable thereto in Canadian Dollars at a rate per annum annum, calculated on the basis of a 365 day year, equal to the sum of the Applicable CDOR Rate with respect to such Interest Period plus the Applicable Pricing Rate. Each determination by Rate in effect on the Lender first day of the Interest Period applicable to such CDOR Rate applicable to an Interest Period shall be prima facie evidence thereofLoan. Such interest shall accrue daily and shall be payable in arrears on each Interest Payment Date for such CDOR Rate Loan for the period from and including the Drawdown Date or the preceding Rollover Date, Conversion Date or Interest Payment Date, as the case may be, for such CDOR Rate Loan to and including the day preceding such Interest Payment Date and shall be calculated on the principal amount of the CDOR Rate Loan outstanding during such period and on the basis of the actual number of days elapsed in a year of 365 daysdivided by 365.