Common use of Interest on Prime Rate Loans Clause in Contracts

Interest on Prime Rate Loans. (a) The Canadian Borrower shall pay the Canadian Agent for the account of the Canadian Lenders in Canadian Dollars interest on each Prime Loan made under the Canadian Revolving Facility as evidenced by the Accounts at a rate per annum equal to the sum of: (i) the Prime Rate Margin; and (ii) the Prime Rate. (b) The Canadian Borrower shall pay to the Canadian Swingline Lender in Cdn.$, interest on each Prime Loan made under the Canadian Swingline Facility as evidenced by the Accounts of the Canadian Swingline Lender at a rate per annum equal to the sum of: (i) the Prime Rate Margin; and (ii) the Prime Rate. (c) Each change in the fluctuating interest rate for a Prime Rate Loan will take place simultaneously with the corresponding change in the Prime Rate. (d) This interest is payable quarterly in arrears on each Interest Payment Date for the period up to and including the last day of the previous Quarter and shall be calculated daily on the basis of the actual number of days elapsed in a year of 365 or 366 days, as the case may be.

Interest on Prime Rate Loans. (a) The Canadian Borrower shall pay the Canadian Agent for the account of the Canadian Lenders in Canadian Dollars interest on each Prime Loan made under the Canadian Revolving Facility as evidenced by the Accounts at a rate per annum equal to the sum of: (i) the Prime Rate Margin; and (ii) the Prime Rate. (b) The Canadian Borrower shall pay to the Canadian Swingline Lender in Cdn.$Canadian Dollars, interest on each Prime Loan made under the Canadian Swingline Facility as evidenced by the Accounts of the Canadian Swingline Lender at a rate per annum equal to the sum of: (i) the Prime Rate Margin; and (ii) the Prime Rate. (c) Each change in the fluctuating interest rate for a Prime Rate Loan will take place simultaneously with the corresponding change in the Prime Rate. (d) This interest is payable quarterly in arrears on each Interest Payment Date for the period up to and including the last day of the previous Quarter and shall be calculated daily on the basis of the actual number of days elapsed in a year of 365 or 366 days, as the case may be.

Interest on Prime Rate Loans. (a) The Canadian Borrower shall pay the Canadian Agent for the account of the Canadian Lenders in Canadian Dollars interest on each Prime Rate Loan made under the Canadian Revolving Facility as evidenced by the Accounts at a rate per annum equal to the sum of: (i) the Prime Rate Margin; and (ii) the Prime Rate. (b) The Canadian Borrower shall pay to the Canadian Swingline Lender in Cdn.$, Cdn.$ interest on each Prime Rate Loan made under the Canadian Swingline Facility as evidenced by the Accounts of the Canadian Swingline Lender at a rate per annum equal to the sum of: (i) the Prime Rate Margin; and (ii) the Prime Rate. (c) Each change in the fluctuating interest rate for a Prime Rate Loan will take place simultaneously with the corresponding change in the Prime Rate. (d) This interest is payable quarterly in arrears on each Interest Payment Date for the period up to and including the last day of the previous Quarter and shall be calculated daily on the basis of the actual number of days elapsed in a year of 365 or 366 days, as the case may be.