Interest Rate After Subrogation. In the event the Producer is in Default, the Minister makes payment under the guarantee granted pursuant to APP and the Minister is subrogated to the rights of the Administrator, the prime rate payable by the Producer shall be changed from the prime rate of the Toronto Dominion Bank to the average aggregated prime rate as published in the Daily Digest on the website of the Bank of Canada.
Appears in 8 contracts
Samples: Advance Payments Program Application and Repayment Agreement, Advance Payments Program Application and Repayment Agreement, Advance Payments Program Application and Repayment Agreement
