Common use of Maximum Rate of Return Clause in Contracts

Maximum Rate of Return. Notwithstanding any provision to the contrary contained in this Agreement, in no event shall the aggregate "interest" (as defined in Section 347 of the Criminal Code (Canada) as the same may be amended, replaced or re-enacted from time to time) payable under this Agreement exceed the effective annual rate of interest on the "credit advanced" (as defined in that section) under this Agreement lawfully permitted under that section and, if any payment, collection or demand pursuant to this Agreement in respect of "interest" (as defined in that section) is determined to be contrary to the provisions of that section, such payment, collection or demand shall be deemed to have been made by mutual mistake of the Borrower and the Lenders and the amount of such payment or collection shall be refunded to the Borrower; and for the purposes of this Agreement, the effective annual rate of interest shall be determined in accordance with generally accepted actuarial practices and principles over the term of the Credit on the basis of annual compounding of the lawfully permitted rate of interest, and in the event of dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Agent shall be prima facie for the purposes of such determination.

Maximum Rate of Return. Notwithstanding any provision to the contrary contained in this Agreement, in no event shall the aggregate "interest" (as defined in Section 347 of the Criminal Code (Code, Revised Statutes of Canada) , 1985, C. 46 as the same may be amended, replaced or re-enacted from time to time) payable under this Agreement exceed the effective annual rate of interest on the "credit advanced" (as defined in that section) under this Agreement lawfully permitted under that section and, if any payment, collection or demand pursuant to this Agreement in respect of "interest" (as defined in that section) is determined to be contrary to the provisions of that section, such payment, collection or demand shall be deemed to have been made by mutual mistake of the Borrower TD Canada and the Canadian Facilities Lenders and the amount of such payment or collection shall be refunded to the BorrowerTD Canada; and for the purposes of this Agreement, Agreement the effective annual rate of interest shall be determined in accordance with generally accepted actuarial practices and principles over the term of the applicable Credit on the basis of annual compounding of the lawfully permitted rate of interestinterest and, and in the event of dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Canadian Agent shall will be prima facie conclusive for the purposes of such determination.

Maximum Rate of Return. Notwithstanding any provision to the contrary contained in this Agreement, in no event shall the aggregate "interest" (as defined in Section 347 of the Criminal Code (Code, Revised Statutes of Canada) , 1985, C. 46 as the same may be amended, replaced or re-enacted from time to time) payable under this Agreement in respect of Canadian Loans exceed the effective annual rate of interest on the "credit advanced" (as defined in that sectionsuch Section 347) under this Agreement in respect of such Loans lawfully permitted under that section such Section 347 and, if any payment, collection or demand pursuant to this Agreement in respect of "interest" (as defined in that sectionsuch Section 347) is determined to be contrary to the provisions of that sectionsuch Section, such payment, collection or demand shall be deemed to have been made by mutual mistake of the Borrower Pentair Canada and the Lenders Canadian Lender and the amount of such payment or collection shall be refunded to the BorrowerPentair Canada; and for the purposes of this Agreement, the effective annual rate of interest shall be determined in accordance with generally accepted actuarial practices and principles over the term of the Credit applicable credit advanced on the basis of annual compounding of the lawfully permitted rate of interestinterest and, and in the event of dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Agent shall Canadian Lender will be prima facie conclusive for the purposes of such determination.

Maximum Rate of Return. Notwithstanding any provision to the contrary contained in this Agreementherein, in no event shall the aggregate "interest" (as defined in Section 347 of the Criminal Code (Code, Statutes of Canada) , 1985, C.46 as the same may be amended, replaced or re-enacted from time to time) payable under this Agreement hereunder exceed the effective annual rate of interest on the "credit advanced" (as defined in that section) under this Agreement hereunder lawfully permitted under that section and, if any payment, collection or demand pursuant to this Agreement the Finance Documents in respect of "interest" (as defined in that section) is determined to be contrary to the provisions of that section, such payment, collection or demand shall be deemed to have been made by mutual mistake of the Borrower Obligors and the Lenders Bank and the amount of such payment or collection shall be refunded to the Borrowerapplicable Obligor; and for the purposes of this Agreement, hereof the effective annual rate of interest shall be determined in accordance with generally accepted actuarial practices and principles over the term of the Credit loan on the basis of annual compounding of the lawfully permitted rate of interestinterest and, and in the event of dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Agent shall Bank will be prima facie conclusive for the purposes of such determination.

Maximum Rate of Return. Notwithstanding any provision to the contrary contained in this Agreement, in no event shall the aggregate "“interest" ” (as defined in Section 347 of the Criminal Code (Code, Revised Statutes of Canada) , 1985, C. 46 as the same may be amended, replaced or re-enacted from time to time) payable under this Agreement in respect of Canadian Loans exceed the effective annual rate of interest on the "“credit advanced" ” (as defined in that sectionsuch Section 347) under this Agreement in respect of such Loans lawfully permitted under that section such Section 347 and, if any payment, collection or demand pursuant to this Agreement in respect of "“interest" ” (as defined in that sectionsuch Section 347) is determined to be contrary to the provisions of that sectionsuch Section, such payment, collection or demand shall be deemed to have been made by mutual mistake of the applicable Canadian Borrower and the Lenders Canadian Lender and the amount of such payment or collection shall be refunded to the applicable Canadian Borrower; and for the purposes of this Agreement, the effective annual rate of interest shall be determined in accordance with generally accepted actuarial practices and principles over the term of the Credit applicable credit advanced on the basis of annual compounding of the lawfully permitted rate of interestinterest and, and in the event of dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Agent shall Canadian Lender will be prima facie conclusive for the purposes of such determination.

Maximum Rate of Return. Notwithstanding any provision to the contrary contained in this Agreement, in no event shall the aggregate "interest" (as defined in Section 347 of the Criminal Code (Code, Revised Statutes of Canada) , 1985, c. 46 as the same may be amended, replaced or re-enacted from time to time) payable under this Agreement exceed the effective annual rate of interest on the "credit advanced" (as defined in that section) under this Agreement lawfully permitted under that section and, if any payment, collection or demand pursuant to this Agreement in respect of "interest" (as defined in that section) is determined to be contrary to the provisions of that section, such payment, collection or demand shall be deemed to have been made by mutual mistake of the Borrower and the Lenders and the amount of such payment or collection shall be refunded to the Borrower; and for the purposes of this Agreement, Agreement the effective annual rate of interest shall be determined in accordance with generally accepted actuarial practices and principles over the term of the Credit Facilities on the basis of annual compounding of the lawfully permitted rate of interestinterest and, and in the event of dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Administration Agent shall be prima facie conclusive for the purposes of such determination.

Maximum Rate of Return. Notwithstanding any provision to the contrary contained in this Agreement, in no event shall the aggregate "interest" (as defined in Section 347 of the Criminal Code (Code, Revised Statutes of Canada) , 1985, C. 46 as the same may be amended, replaced or re-enacted from time to time) payable under this Agreement exceed the effective annual rate of interest on the "credit advanced" (as defined in that section) under this Agreement lawfully permitted under that section and, if any payment, collection or demand pursuant to this Agreement in respect of "interest" (as defined in that section) is determined to be contrary to the provisions of that section, such payment, collection or demand shall be deemed to have been made by mutual mistake of the Borrower TD Canada and the Canadian Facilities Lenders and the amount of such payment or collection shall be refunded to the BorrowerTD Canada; and for the purposes of this Agreement, Agreement the effective annual rate of interest shall be determined in accordance with generally accepted actuarial practices and principles over the term of the Credit applicable credit advanced on the basis of annual compounding of the lawfully permitted rate of interestinterest and, and in the event of dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Canadian Agent shall will be prima facie conclusive for the purposes of such determination.

Maximum Rate of Return. Notwithstanding any provision to the contrary contained in this Agreement, in no event shall the aggregate "interest" (as defined in Section 347 of the Criminal Code (Code, Revised Statutes of Canada) , 1985, C. 46 as the same may be amended, replaced or re-enacted from time to time) payable under this Agreement in respect of Canadian Loans exceed the effective annual rate of interest on the "credit advanced" (as defined in that sectionsuch Section 347) under this Agreement in respect of such Loans lawfully permitted under that section such Section 347 and, if any payment, collection or demand pursuant to this Agreement in respect of "interest" (as defined in that sectionsuch Section 347) is determined to be contrary to the provisions of that sectionsuch Section, such payment, collection or demand shall be deemed to have been made by mutual mistake of the applicable Canadian Borrower and the Lenders Canadian Lender and the amount of such payment or collection shall be refunded to the applicable Canadian Borrower; and for the purposes of this Agreement, the effective annual rate of interest shall be determined in accordance with generally accepted actuarial practices and principles over the term of the Credit applicable credit advanced on the basis of annual compounding of the lawfully permitted rate of interestinterest and, and in the event of dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Agent shall Canadian Lender will be prima facie conclusive for the purposes of such determination.