Common use of Interest Payment Dates; Interest Basis Clause in Contracts

Interest Payment Dates; Interest Basis. Interest accrued on each Advance under an Applicable Tranche prior to the applicable Loan Maturity Date shall be payable to the Administrative Agent for the benefit of the Applicable Banks on the date on which such Advance is paid or prepaid, whether due to acceleration or otherwise. Interest accrued on each Advance after its applicable Loan Maturity Date shall be payable on demand. Interest shall be calculated on the basis of (i) in the case of interest in respect of Loans denominated in U.S. Dollars, a year of 360 days for actual days elapsed, (ii) in the case of interest in respect of Loans denominated in Euros, a year of 360 days for actual days elapsed, (iii) in the case of interest in respect of Loans denominated in Canadian Dollars and Sterling, a year of 365 days for actual days elapsed, or as to which market practice differs from the foregoing, in accordance with such market practice, or (iv) in the case of interest in respect of Loans denominated in an Alternative Currency (other than Canadian Dollars, Euros or Sterling) in accordance with market practice for such Alternative Currency. As referenced in the definitions for each Applicable Reference Rate, interest with respect to any Loan shall be determined on each Business Day such Loan is outstanding. Commitment fees shall be calculated on the basis of a year of 360 days for actual days elapsed. For the purposes of the Interest Act (Canada), (i) whenever a rate of interest or fee rate hereunder is calculated on the basis of a year (the “deemed year”) that contains fewer days than the actual number of days in the calendar year of calculation, such rate of interest or fee rate shall be expressed as a yearly rate by multiplying such rate of interest or fee rate by the actual number of days in the calendar year of calculation and dividing it by the number of days in the deemed year, (ii) the principle of deemed reinvestment of interest shall not apply to any interest calculation hereunder and (iii) the rates of interest stipulated herein are intended to be nominal rates and not effective rates or yields. The Company hereby irrevocably agrees not to plead or assert, whether by way of defense or otherwise, in any proceeding relating to this Agreement and the other Loan Documents, that the interest payable under this Agreement and the calculation thereof has not been adequately disclosed to it, whether pursuant to section 4 of the Interest Act (Canada) or any other applicable law or legal principle of Canada.

Interest Payment Dates; Interest Basis. Interest accrued on each Floating Rate Advance under an Applicable Tranche prior to the applicable Loan Maturity Date shall be payable to the Administrative Agent for the benefit of the Applicable Banks on each Payment Date, commencing on the first such date to occur after the date hereof, on any date on which such Floating Rate Advance is paid prepaid or converted, whether due to acceleration or otherwise, at maturity and thereafter on demand. Subject to the next sentence, interest accrued on each Fixed Rate Advance shall be payable on the last day of its applicable Interest Period, on any date on which such Fixed Rate Advance is prepaid, whether due to acceleration or otherwise, at maturity and thereafter on demand. Interest accrued on each Fixed Rate Advance after its applicable Loan Maturity Date having an Interest Period longer than three months shall also be payable on demand. Interest shall be calculated on the basis last day of each 90 day interval (i) in the case of interest in respect of Loans denominated in U.S. Dollars, a year of 360 days for actual days elapsed, Absolute Rate Advances) or three-month interval (ii) in the case of interest in respect of Loans denominated in Euros, a year of 360 days for actual days elapsed, (iiiEurocurrency Committed Advances or Eurocurrency Bid Rate Advances) in the case of interest in respect of Loans denominated in Canadian Dollars and Sterling, a year of 365 days for actual days elapsed, or as to which market practice differs from the foregoing, in accordance with during such market practice, or (iv) in the case of interest in respect of Loans denominated in an Alternative Currency Interest Period. Interest on all Fixed Rate Advances (other than Canadian DollarsFixed Rate Advances denominated in Sterling), Euros or Sterling) in accordance with market practice for such Alternative Currency. As referenced in all Floating Rate Advances which bear interest based on the definitions for each Applicable Reference Rate, interest with respect to any Loan shall be determined on each Business Day such Loan is outstanding. Commitment Federal Funds Effective Rate and all fees due hereunder shall be calculated for the actual number of days elapsed on the basis of a year 360-day year. Interest on all Fixed Rate Advances denominated in Sterling shall be calculated for the actual number of 360 days for actual days elapsed. For the purposes of the Interest Act (Canada), (i) whenever a rate of interest or fee rate hereunder is calculated elapsed on the basis of a year (365/366 day year. Interest on all Floating Rate Advances which bear interest based on the “deemed year”) that contains fewer days than Prime Rate shall be calculated for the actual number of days elapsed on the basis of a 365, or when appropriate 366, day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon (local time) at the place of payment. If any payment of principal of, or interest on, an Advance or of fees due hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the calendar year case of calculation, a principal payment such rate extension of interest or fee rate time shall be expressed included in computing interest in connection with such payment. Each Borrower promises to pay interest on its respective Advances as a yearly rate by multiplying such rate of interest or fee rate by the actual number of days provided in the calendar year of calculation and dividing it by the number of days in the deemed year, (ii) the principle of deemed reinvestment of interest shall not apply to any interest calculation hereunder and (iii) the rates of interest stipulated herein are intended to be nominal rates and not effective rates or yields. The Company hereby irrevocably agrees not to plead or assert, whether by way of defense or otherwise, in any proceeding relating to this Agreement and the other Loan Documents, that the interest payable under this Agreement and the calculation thereof has not been adequately disclosed to it, whether pursuant to section 4 of the Interest Act (Canada) or any other applicable law or legal principle of CanadaSection 2.08(e).

Interest Payment Dates; Interest Basis. Interest accrued on each Advance under an Applicable Tranche prior to the applicable Loan Maturity Date shall be payable to the Administrative Agent for the benefit of the Applicable Banks on the date on which such Advance is paid or prepaid, whether due to acceleration or otherwise. Interest accrued on each Advance after its applicable Loan Maturity Date shall be payable on demand. Interest shall be calculated on the basis of (i) in the case of interest in respect of Loans denominated in U.S. Dollars, a year of 360 days for actual days elapsed, (ii) in the case of interest in respect of Loans denominated in Euros, a year of 360 days for actual days elapsed, (iii) in the case of interest in respect of Loans denominated in Canadian Dollars and Sterling, a year of 365 days for actual days elapsed, or as to which market practice differs from the foregoing, in accordance with such market practice, or (iv) in the case of interest in respect of Loans denominated in an Alternative Currency (other than Canadian Dollars, Euros or Sterling) in accordance with market practice for such Alternative Currency. As referenced in the definitions for each Applicable Reference Rate, interest with respect to any Loan shall be determined on each Business Day such Loan is outstanding. Commitment fees shall be calculated on the basis of a year of 360 days for actual days elapsed. For the purposes of the Interest Act (Canada), (i) whenever a rate of interest or fee rate hereunder is calculated on the basis of a year (the “deemed year”) that contains fewer days than the actual number of days in the calendar year of calculation, such rate of interest or fee rate shall be expressed as a yearly rate by multiplying such rate of interest or fee rate by the actual number of days in the calendar year of calculation and dividing it by the number of days in the deemed year, (ii) the principle of deemed reinvestment of interest shall not apply to any interest calculation hereunder and (iii) the rates of interest stipulated herein are intended to be nominal rates and not effective rates or yields. The Company hereby irrevocably agrees not to plead or assert, whether by way of defense or otherwise, in any proceeding relating to this Agreement and the other Loan Documents, that the interest payable under this Agreement and the calculation thereof has not been adequately disclosed to it, whether pursuant to section 4 of the Interest Act (Canada) or any other applicable law or legal principle of Canada.

Interest Payment Dates; Interest Basis. Interest accrued on each Advance under an Applicable Tranche prior to the applicable Loan Maturity Date shall be payable to the Administrative Agent for the benefit of the Applicable Banks on the date on which such Advance is paid or prepaid, whether due to acceleration or otherwise. Interest accrued on each Advance after its applicable Loan Maturity Date shall be payable on demand. Interest shall be calculated on the basis of (i) in the case of interest in respect of Loans denominated in U.S. Dollars, a year of 360 days for actual days elapsed, (ii) in the case of interest in respect of Loans denominated in Euros, a year of 360 days for actual days elapsed, (iii) in the case of interest in respect of Loans denominated in Canadian Dollars and Sterling, a year of 365 days for actual days elapsed, or as to which market practice differs from the foregoing, in accordance with such market practice, or (iv) in the case of interest in respect of Loans denominated in an Alternative Currency (other than Canadian Dollars, Euros or Sterling) in accordance with market practice for such Alternative Currency. As referenced in the definitions for each Applicable Reference Rate, interest with respect to any Loan shall be determined on each Business Day such Loan is outstanding. Commitment fees shall be calculated on the basis of a year of 360 days for actual days elapsed. For the purposes of the Interest Act (Canada), (i) whenever a rate of interest or fee rate hereunder is calculated on the basis of a year (the “deemed year”) that contains fewer days than the actual number of days in the calendar year of calculation, such rate of interest or fee rate shall be expressed as a yearly rate by multiplying such rate of interest or fee rate by the actual number of days in the calendar year of calculation and dividing it by the number of days in the deemed year, (ii) the principle of deemed reinvestment of interest shall not apply to any interest calculation hereunder and (iii) the rates of interest stipulated herein are intended to be nominal rates and not effective rates or yields. The Company hereby 136129539 irrevocably agrees not to plead or assert, whether by way of defense or otherwise, in any proceeding relating to this Agreement and the other Loan Documents, that the interest payable under this Agreement and the calculation thereof has not been adequately disclosed to it, whether pursuant to section 4 of the Interest Act (Canada) or any other applicable law or legal principle of Canada.