Common use of Prohibited Rates of Interest Clause in Contracts

Prohibited Rates of Interest. It is the intention of the Parties to comply with Applicable Law relating to usury now or hereafter enacted. Notwithstanding any other provisions of this Agreement or any other Loan Document, in no event shall any Loan Document require the payment or permit the collection of interest or other amounts in an amount or at a rate in excess of the amount or rate that is permitted by Applicable Law or in an amount or at a rate that would result in the receipt by the Lenders or the Agent of interest at a criminal rate, as the terns “interest” and “criminal rate” are defined under the Criminal Code (Canada). Where more than one such Applicable Law is applicable to any Obligor, that Obligor shall not be obliged to make payment in an amount or at a rate higher than the lowest amount or rate permitted by such Applicable Laws. If from any circumstances whatever, fulfilment of any provision of any Loan Document shall involve transcending the limit of validity prescribed by Applicable Law for the collection or charging of interest, the obligation to be fulfilled shall be reduced to the limit of such validity, and if from any such circumstances the Agent or the Lenders shall ever receive anything of value as interest or deemed interest under any Loan Document in an amount that would exceed the highest lawful rate of interest permitted by Applicable Law, such amount that would be excessive interest shall be applied to the reduction of the principal amount of the Credit, and not to the payment of interest, or if such excessive interest exceeds the unpaid principal balance of the Credit, the amount exceeding the unpaid balance shall be refunded to the Borrowers. In determining whether or not the interest paid or payable under any specified contingency exceeds the highest lawful rate, the Obligors, the Agent and the Lenders shall, to the maximum extent permitted by Applicable Law, (i) characterize any non-principal payment as an expense, fee or premium rather than as interest, (ii) exclude voluntary prepayments and the effects thereof, (iii) amortize, prorate, allocate and spread the total amount of interest throughout the term of such indebtedness so that interest thereon does not exceed the maximum amount permitted by Applicable Laws, and/or (iv) allocate interest between portions of such indebtedness to the end that no such portion shall bear interest at a rate greater than that permitted by Applicable Laws. For the purposes of the application of the Criminal Code (Canada), the effective annual rate of interest shall be determined in accordance with generally accepted actuarial practices and principles and in the event of any dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Agent shall be conclusive for the purpose of such determination.

Prohibited Rates of Interest. It is the intention of the Parties parties to comply with Applicable Law relating to applicable usury laws now or hereafter enacted. Notwithstanding Accordingly, notwithstanding any other provisions of this Agreement or any other Loan Document, in no event shall any Loan Document require the payment or permit the collection of interest or other amounts in an amount or at a rate in excess of the amount or rate that is permitted by Applicable Law or in an amount or at a rate that would result in the receipt by the Lenders or the Agent of interest at a criminal rate, as the terns terms “interest” and “criminal rate” are defined under the Criminal Code (Canada). Where more than one such Applicable Law law is applicable to any Obligorthe Borrower, that Obligor the Borrower shall not be obliged to make payment in an amount or at a rate higher than the lowest amount or rate permitted by such Applicable Lawslaws. If from any circumstances whatever, fulfilment of any provision of any Loan Document shall involve transcending the limit of validity prescribed by Applicable Law for the collection or charging of interest, the obligation to be fulfilled shall be reduced to the limit of such validity, and if from any such circumstances the Agent or the Lenders shall ever receive anything of value as interest or deemed interest under any Loan Document in an amount that would exceed the highest lawful rate of interest permitted by Applicable Law, such amount that would be excessive interest shall be applied to the reduction of the principal amount of the applicable Credit, and not to the payment of interest, or if such excessive interest exceeds the unpaid principal balance of the applicable Credit, the amount exceeding the unpaid balance shall be refunded to the BorrowersBorrower. In determining whether or not the interest paid or payable under any specified contingency exceeds the highest lawful rate, the ObligorsBorrower, the Agent and the Lenders shall, to the maximum extent permitted by Applicable Law, (i) characterize any non-principal payment as an expense, fee or premium rather than as interest, (ii) exclude voluntary prepayments and the effects thereof, (iii) amortize, prorate, allocate and spread the total amount of interest throughout the term of such indebtedness so that interest thereon does not exceed the maximum amount permitted by Applicable LawsLaw, and/or (iv) allocate interest between portions of such indebtedness to the end that no such portion shall bear interest at a rate greater than that permitted by Applicable LawsLaw. For the purposes of the application of the Criminal Code (Canada), the effective annual rate of interest shall be determined in accordance with generally accepted actuarial practices and principles and in the event of any dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Agent shall be conclusive for the purpose of such determination.

Prohibited Rates of Interest. It is the intention of the Parties parties to comply with Applicable Law relating to applicable usury laws now or hereafter enacted. Notwithstanding Accordingly, notwithstanding any other provisions of this Agreement or any other Loan Credit Document, in no event shall any Loan Credit Document require the payment or permit the collection of interest or other amounts in an amount or at a rate in excess of the amount or rate that is permitted by Applicable Law law or in an amount or at a rate that would result in the receipt by the Lenders or the Agent of interest at a criminal rate, as the terns “terms "interest” " and “"criminal rate” " are defined under the Criminal Code CRIMINAL CODE (Canada). Where more than one such Applicable Law law is applicable to any ObligorRestricted Party, that Obligor Restricted Party shall not be obliged to make payment in an amount or at a rate higher than the lowest amount or rate permitted by such Applicable Lawslaws. If from any circumstances whatever, fulfilment of any provision of any Loan Credit Document shall involve transcending the limit of validity prescribed by Applicable Law applicable law for the collection or charging of interest, the obligation to be fulfilled shall be reduced to the limit of such validity, and if from any such circumstances the Agent or the Lenders shall ever receive anything of value as interest or deemed interest under any Loan Credit Document in an amount that would exceed the highest lawful rate of interest permitted by Applicable Lawapplicable law, such amount that would be excessive interest shall be applied to the reduction of the principal amount of the relevant Credit, and not to the payment of interest, or if such excessive interest exceeds the unpaid principal balance of the relevant Credit, the amount exceeding the unpaid balance shall be refunded to the BorrowersBorrower. In determining whether or not the interest paid or payable under any specified contingency exceeds the highest lawful rate, the ObligorsRestricted Parties, the Agent and the Lenders shall, to the maximum extent permitted by Applicable Lawapplicable law, (ia) characterize any non-principal payment as an expense, fee or premium rather than as interest, (iib) exclude voluntary prepayments and the effects thereof, (iiic) amortize, prorate, allocate and spread the total amount of interest throughout the term of such indebtedness so that interest thereon does not exceed the maximum amount permitted by Applicable Lawsapplicable law, and/or (ivd) allocate interest between portions of such indebtedness to the end that no such portion shall bear interest at a rate greater than that permitted by Applicable Lawsapplicable law. For the purposes of the application of the Criminal Code CRIMINAL CODE (Canada), the effective annual rate of interest shall be determined in accordance with generally accepted actuarial practices and principles and in the event of any dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Agent shall be conclusive for the purpose of such determination.

Prohibited Rates of Interest. It is the intention of the Parties parties to comply with Applicable Law relating to applicable usury laws now or hereafter enacted. Notwithstanding Accordingly, notwithstanding any other provisions of this Agreement or any other Loan Document, in no event shall any Loan Document require the payment or permit the collection of interest or other amounts in an amount or at a rate in excess of the amount or rate that is permitted by Applicable Law or in an amount or at a rate that would result in the receipt by the Lenders or the Agent of interest at a criminal rate, as the terns “terms "interest” " and “"criminal rate” " are defined under the Criminal Code (Canada). Where more than one such Applicable Law law is applicable to any Obligorthe Borrower, that Obligor the Borrower shall not be obliged to make payment in an amount or at a rate higher than the lowest amount or rate permitted by such Applicable Lawslaws. If from any circumstances whatever, fulfilment of any provision of any Loan Document shall involve transcending the limit of validity prescribed by Applicable Law for the collection or charging of interest, the obligation to be fulfilled shall be reduced to the limit of such validity, and if from any such circumstances the Agent or the Lenders shall ever receive anything of value as interest or deemed interest under any Loan Document in an amount that would exceed the highest lawful rate of interest permitted by Applicable Law, such amount that would be excessive interest shall be applied to the reduction of the principal amount of the Credit, and not to the payment of interest, or if such excessive interest exceeds the unpaid principal balance of the Credit, the amount exceeding the unpaid balance shall be refunded to the BorrowersBorrower. In determining whether or not the interest paid or payable under any specified contingency exceeds the highest lawful rate, the ObligorsBorrower, the Agent and the Lenders shall, to the maximum extent permitted by Applicable Law, (i) characterize any non-principal payment as an expense, fee or premium rather than as interest, (ii) exclude voluntary prepayments and the effects thereof, (iii) amortize, prorate, allocate and spread the total amount of interest throughout the term of such indebtedness so that interest thereon does not exceed the maximum amount permitted by Applicable LawsLaw, and/or (iv) allocate interest between portions of such indebtedness to the end that no such portion shall bear interest at a rate greater than that permitted by Applicable LawsLaw. For the purposes of the application of the Criminal Code (Canada), the effective annual rate of interest shall be determined in accordance with generally accepted actuarial practices and principles and in the event of any dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Agent shall be conclusive for the purpose of such determination.

Prohibited Rates of Interest. It is the intention of the Parties parties to comply with Applicable Law relating to applicable usury laws now or hereafter enacted. Notwithstanding Accordingly, notwithstanding any other provisions of this Agreement or any other Loan Document, in no event shall any Loan Document require the payment or permit the collection of interest or other amounts in an amount or at a rate in excess of the amount or rate that is permitted by Applicable Law by-law or in an amount or at a rate that would result in the receipt by the Lenders or the Agent of interest at a criminal rate, as the terns terms “interest” and “criminal rate” are defined under the Criminal Code (Canada). Where more than one such Applicable Law law is applicable to any Obligor, that such Obligor shall not be obliged to make payment in an amount or at a rate higher than the lowest amount or rate permitted by such Applicable Lawslaws. If from any circumstances whatever, fulfilment of any provision of any Loan Document shall involve transcending the limit of validity prescribed by Applicable Law for the collection or charging of interest, the obligation to be fulfilled shall be reduced to the limit of such validity, and if from any such circumstances the Agent or the Lenders shall ever receive anything of value as interest or deemed interest under any Loan Document in an amount that would exceed the highest lawful rate of interest permitted by Applicable Law, such amount that would be excessive interest shall be applied to the reduction of the principal amount of the CreditCredit Facility, and not to the payment of interest, or if such excessive interest exceeds the unpaid principal balance of the CreditCredit Facility, the amount exceeding the unpaid balance shall be refunded to the BorrowersBorrower. In determining whether or not the interest paid or payable under any specified contingency exceeds the highest lawful rate, the Obligors, the Agent and the Lenders shall, to the maximum extent permitted by Applicable Law, Law (ia) characterize any non-principal payment as an expense, fee or premium rather than as interest, (ii) exclude voluntary prepayments and the effects thereof, (iii) amortize, prorate, allocate and spread the total amount of interest throughout the term of such indebtedness so that interest thereon does not exceed the maximum amount permitted by Applicable Laws, and/or (iv) allocate interest between portions of such indebtedness to the end that no such portion shall bear interest at a rate greater than that permitted by Applicable Laws. For the purposes of the application of the Criminal Code (Canada), the effective annual rate of interest shall be determined in accordance with generally accepted actuarial practices and principles and in the event of any dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Agent shall be conclusive for the purpose of such determination.;

Prohibited Rates of Interest. It is the intention of the Parties parties to comply with Applicable Law relating to applicable usury laws now or hereafter enacted. Notwithstanding Accordingly, notwithstanding any other provisions of this Agreement or any other Loan Credit Document, in no event shall any Loan Credit Document require the payment or permit the collection of interest or other amounts in an amount or at a rate in excess of the amount or rate that is permitted by Applicable Law law or in an amount or at a rate that would result in the receipt by the Lenders or the Agent of interest at a criminal rate, as the terns “terms "interest” " and “"criminal rate” " are defined under the Criminal Code (Canada). Where more than one such Applicable Law law is applicable to any Obligorthe Borrower, that Obligor the Borrower shall not be obliged to make payment in an amount or at a rate higher than the lowest amount or rate permitted by such Applicable Lawslaws. If from any circumstances whatever, fulfilment of any provision of any Loan Credit Document shall involve transcending the limit of validity prescribed by Applicable Law applicable law for the collection or charging of interest, the obligation to be fulfilled shall be reduced to the limit of such validity, and if from any such circumstances the Agent or the Lenders shall ever receive anything of value as interest or deemed interest under any Loan Credit Document in an amount that would exceed the highest lawful rate of interest permitted by Applicable Lawapplicable law, such amount that would be excessive interest shall be applied to the reduction of the principal amount of the Credit, and not to the payment of interest, or if such excessive interest exceeds the unpaid principal balance of the Credit, the amount exceeding the unpaid balance shall be refunded to the BorrowersBorrower. In determining whether or not the interest paid or payable under any specified contingency exceeds the highest lawful rate, the ObligorsBorrower, the Agent and the Lenders shall, to the maximum extent permitted by Applicable Lawapplicable law, (i) characterize any non-principal payment as an expense, fee or premium rather than as interest, (ii) exclude voluntary prepayments and the effects thereof, (iii) amortize, prorate, allocate and spread the total amount of interest throughout the term of such indebtedness so that interest thereon does not exceed the maximum amount permitted by Applicable Lawsapplicable law, and/or (iv) allocate interest between portions of such indebtedness to the end that no such portion shall bear interest at a rate greater than that permitted by Applicable Lawsapplicable law. For the purposes of the application of the Criminal Code (Canada), the effective annual rate of interest shall be determined in accordance with generally accepted actuarial practices and principles and in the event of any dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Agent shall be conclusive for the purpose of such determination.

Prohibited Rates of Interest. It is the intention of the Parties parties to comply with Applicable Law relating to applicable usury laws now or hereafter enacted. Notwithstanding Accordingly, notwithstanding any other provisions of this Agreement or any other Loan Document, in no event shall any Loan Document require the payment or permit the collection of interest or other amounts in an amount or at a rate in excess of the amount or rate that is permitted by Applicable Law law or in an amount or at a rate that would result in the receipt by the Lenders or the Agent of interest at a criminal rate, as the terns terms “interest” and “criminal rate” are defined under the Criminal Code (Canada). Where more than one such Applicable Law law is applicable to any Obligor, that such Obligor shall not be obliged to make payment in an amount or at a rate higher than the lowest amount or rate permitted by such Applicable Lawslaws. If from any circumstances whatever, fulfilment of any provision of any Loan Document shall involve transcending the limit of validity prescribed by any Applicable Law for the collection or charging of interest, the obligation to be fulfilled shall be reduced to the limit of such validity, and if from any such circumstances the Agent or the Lenders shall ever receive anything of value as interest or deemed interest under any Loan Document in an amount that would exceed the highest lawful rate of interest permitted by any Applicable Law, such amount that would be excessive interest shall be applied to the reduction of the principal amount of the relevant Credit, and not to the payment of interest, or if such excessive interest exceeds the unpaid principal balance of the relevant Credit, the amount exceeding the unpaid balance shall be refunded to the BorrowersBorrower. In determining whether or not the interest paid or payable under any specified contingency exceeds the highest lawful rate, the Obligors, the Agent and the Lenders shall, to the maximum extent permitted by Applicable Law, Laws (ia) characterize any non-principal payment as an expense, fee or premium rather than as interest, (iib) exclude voluntary prepayments and the effects thereof, (iiic) amortize, prorate, allocate and spread the total amount of interest throughout the term of such indebtedness so that interest thereon does not exceed the maximum amount permitted by Applicable Laws, and/or or (ivd) allocate interest between portions of such indebtedness to the end that no such portion shall bear interest at a rate greater than that permitted by Applicable Laws. For the purposes of the application of the Criminal Code (Canada), the effective annual rate of interest shall be determined in accordance with generally accepted actuarial practices and principles and in the event of any dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Agent shall be conclusive for the purpose of such determination.

Prohibited Rates of Interest. It is the intention of the Parties parties to comply with Applicable Law relating to applicable usury laws now or hereafter enacted. Notwithstanding Accordingly, notwithstanding any other provisions of this Agreement or any other Loan Credit Document, in no event shall any Loan Credit Document require the payment or permit the collection of interest or other amounts in an amount or at a rate in excess of the amount or rate that is permitted by Applicable Law law or in an amount or at a rate that would result in the receipt by the Lenders or the Agent of interest at a criminal rate, as the terns “terms "interest” " and “"criminal rate” " are defined under the Criminal Code (Canada). Where more than one such Applicable Law law is applicable to any ObligorRestricted Party, that Obligor Restricted Party shall not be obliged to make payment in an amount or at a rate higher than the lowest amount or rate permitted by such Applicable Lawslaws. If from any circumstances whatever, fulfilment of any provision of any Loan Credit Document shall involve transcending the limit of validity prescribed by Applicable Law applicable law for the collection or charging of interest, the obligation to be fulfilled shall be reduced to the limit of such validity, and if from any such circumstances the Agent or the Lenders shall ever receive anything of value as interest or deemed interest under any Loan Credit Document in an amount that would exceed the highest lawful rate of interest permitted by Applicable Lawapplicable law, such amount that would be excessive interest shall be applied to the reduction of the principal amount of the relevant Credit, and not to the payment of interest, or if such excessive interest exceeds the unpaid principal balance of the relevant Credit, the amount exceeding the unpaid balance shall be refunded to the BorrowersBorrower. In determining whether or not the interest paid or payable under any specified contingency exceeds the highest lawful rate, the ObligorsRestricted Parties, the Agent and the Lenders shall, to the maximum extent permitted by Applicable Lawapplicable law, (ia) characterize any non-principal payment as an expense, fee or premium rather than as interest, (iib) exclude voluntary prepayments and the effects thereof, (iiic) amortize, prorate, allocate and spread the total amount of interest throughout the term of such indebtedness so that interest thereon does not exceed the maximum amount permitted by Applicable Lawsapplicable law, and/or (ivd) allocate interest between portions of such indebtedness to the end that no such portion shall bear interest at a rate greater than that permitted by Applicable Lawsapplicable law. For the purposes of the application of the Criminal Code (Canada), the effective annual rate of interest shall be determined in accordance with generally accepted actuarial practices and principles and in the event of any dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Agent shall be conclusive for the purpose of such determination.

Prohibited Rates of Interest. It is the intention of the Parties parties to comply with Applicable Law relating to applicable usury laws now or hereafter enacted. Notwithstanding Accordingly, notwithstanding any other provisions of this Agreement or any other Loan Document, in no event shall any Loan Document require the payment or permit the collection of interest or other amounts in an amount or at a rate in excess of the amount or rate that is permitted by Applicable Law law or in an amount or at a rate that would result in the receipt by the Lenders or the Agent of interest at a criminal rate, as the terns terms “interest” and “criminal rate” are defined under the Criminal Code (Canada). Where more than one such Applicable Law law is applicable to any Obligor, that such Obligor shall not be obliged to make payment in an amount or at a rate higher than the lowest amount or rate permitted by such Applicable Lawslaws. If from any circumstances whatever, fulfilment of any provision of any Loan Document shall involve transcending the limit of validity prescribed by Applicable Law any applicable law for the collection or charging of interest, the obligation to be fulfilled shall be reduced to the limit of such validity, and if from any such circumstances the Agent or the Lenders shall ever receive anything of value as interest or deemed interest under any Loan Document in an amount that would exceed the highest lawful rate of interest permitted by Applicable Lawany applicable law, such amount that would be excessive interest shall be applied to the reduction of the principal amount of the Credit, and not to the payment of interest, or if such excessive interest exceeds the unpaid principal balance of the Credit, the amount exceeding the unpaid balance shall be refunded to the BorrowersBorrower. In determining whether or not the interest paid or payable under any specified contingency exceeds the highest lawful rate, the Obligors, the Agent and the Lenders shall, to the maximum extent permitted by Applicable Law, applicable laws (ia) characterize any non-principal payment as an expense, fee or premium rather than as interest, (iib) exclude voluntary prepayments and the effects thereof, (iiic) amortize, prorate, allocate and spread the total amount of interest throughout the term of such indebtedness so that interest thereon does not exceed the maximum amount permitted by Applicable Lawsapplicable laws, and/or or (ivd) allocate interest between portions of such indebtedness to the end that no such portion shall bear interest at a rate greater than that permitted by Applicable Lawsapplicable laws. For the purposes of the application of the Criminal Code (Canada), the effective annual rate of interest shall be determined in accordance with generally accepted actuarial practices and principles and in the event of any dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Agent shall be conclusive for the purpose of such determination.

Prohibited Rates of Interest. It is the intention of the Parties parties to comply with Applicable Law relating to applicable usury laws now or hereafter enacted. Notwithstanding Accordingly, notwithstanding any other provisions of this Agreement or any other Loan Document, in no event shall any Loan Document require the payment or permit the collection of interest or other amounts in an amount or at a rate in excess of the amount or rate that is permitted by Applicable Law law or in an amount or at a rate that would result in the receipt by the Lenders or the Agent of interest at a criminal rate, as the terns terms “interest” and “criminal rate” are defined under the Criminal Code (Canada). Where more than one such Applicable Law law is applicable to any Obligor, that such Obligor shall not be obliged to make payment in an amount or at a rate higher than the lowest amount or rate permitted by such Applicable Lawslaws. If from any circumstances whatever, fulfilment of any provision of any Loan Document shall involve transcending the limit of validity prescribed by any Applicable Law for the collection or charging of interest, the obligation to be fulfilled shall be reduced to the limit of such validity, and if from any such circumstances the Agent or the Lenders shall ever receive anything of value as interest or deemed interest under any Loan Document in an amount that would exceed the highest lawful rate of interest permitted by any Applicable Law, such amount that would be excessive interest shall be applied to the reduction of the principal amount of the Credit, and not to the payment of interest, or if such excessive interest exceeds the unpaid principal balance of the Credit, the amount exceeding the unpaid balance shall be refunded to the BorrowersBorrower. In determining whether or not the interest paid or payable under any specified contingency exceeds the highest lawful rate, the Obligors, the Agent and the Lenders shall, to the maximum extent permitted by Applicable Law, Laws (ia) characterize any non-principal payment as an expense, fee or premium rather than as interest, (iib) exclude voluntary prepayments and the effects thereof, (iiic) amortize, prorate, allocate and spread the total amount of interest throughout the term of such indebtedness so that interest thereon does not exceed the maximum amount permitted by Applicable Laws, and/or or (ivd) allocate interest between portions of such indebtedness to the end that no such portion shall bear interest at a rate greater than that permitted by Applicable Laws. For the purposes of the application of the Criminal Code (Canada), the effective annual rate of interest shall be determined in accordance with generally accepted actuarial practices and principles and in the event of any dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Agent shall be conclusive for the purpose of such determination.

Prohibited Rates of Interest. It is the intention of the Parties parties to comply with Applicable Law relating to applicable usury laws now or hereafter enacted. Notwithstanding Accordingly, notwithstanding any other provisions of this Agreement or any other Loan Document, in no event shall any Loan Document require the payment or permit the collection of interest or other amounts in an amount or at a rate in excess of the amount or rate that is permitted by Applicable Law or in an amount or at a rate that would result in the receipt by the Lenders or the Agent of interest at a criminal rate, as the terns terms “interest” and “criminal rate” are defined under the Criminal Code (Canada). Where more than one such Applicable Law law is applicable to any Obligorthe Borrower, that Obligor the Borrower shall not be obliged to make payment in an amount or at a rate higher than the lowest amount or rate permitted by such Applicable Lawslaws. If from any circumstances whatever, fulfilment of any provision of any Loan Document shall involve transcending the limit of validity prescribed by Applicable Law for the collection or charging of interest, the obligation to be fulfilled shall be reduced to the limit of such validity, and if from any such circumstances the Agent or the Lenders shall ever receive anything of value as interest or deemed interest under any Loan Document in an amount that would exceed the highest lawful rate of interest permitted by Applicable Law, such amount that would be excessive interest shall be applied to the reduction of the principal amount of the Credit, and not to the payment of interest, or if such excessive interest exceeds the unpaid principal balance of the Credit, the amount exceeding the unpaid balance shall be refunded to the BorrowersBorrower. In determining whether or not the interest paid or payable under any specified contingency exceeds the highest lawful rate, the ObligorsBorrower, the Agent and the Lenders shall, to the maximum extent permitted by Applicable Law, (i) characterize any non-principal payment as an expense, fee or premium rather than as interest, (ii) exclude voluntary prepayments and the effects thereof, (iii) amortize, prorate, allocate and spread the total amount of interest throughout the term of such indebtedness so that interest thereon does not exceed the maximum amount permitted by Applicable LawsLaw, and/or (iv) allocate interest between portions of such indebtedness to the end that no such portion shall bear interest at a rate greater than that permitted by Applicable LawsLaw. For the purposes of the application of the Criminal Code (Canada), the effective annual rate of interest shall be determined in accordance with generally accepted actuarial practices and principles and in the event of any dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Agent shall be conclusive for the purpose of such determination.

Prohibited Rates of Interest. It is the intention of the Parties to comply with Applicable Law relating to usury now or hereafter enacted. Notwithstanding any other provisions of this Agreement or any other Loan Document, in no event shall any Loan Document require the payment or permit the collection of interest or other amounts in an amount or at a rate in excess of the amount or rate that is permitted by Applicable Law or in an amount or at a rate that would result in the receipt by the Lenders or the Agent of interest at a criminal rate, as the terns terms “interest” and “criminal rate” are defined under the Criminal Code (Canada). Where more than one such Applicable Law is applicable to any Obligor, that Obligor shall not be obliged to make payment in an amount or at a rate higher than the lowest amount or rate permitted by such Applicable LawsLaw. If from any circumstances whatever, fulfilment of any provision of any Loan Document shall involve transcending the limit of validity prescribed by Applicable Law for the collection or charging of interest, the obligation to be fulfilled shall be reduced to the limit of such validity, and if from any such circumstances the Agent or the Lenders shall ever receive anything of value as interest or deemed interest under any Loan Document in an amount that would exceed the highest lawful rate of interest permitted by Applicable Law, such amount that would be excessive interest shall be applied to the reduction of the principal amount of the Credit, and not to the payment of interest, or if such excessive interest exceeds the unpaid principal balance of the Credit, the amount exceeding the unpaid balance shall be refunded to the BorrowersBorrower. In determining whether or not the interest paid or payable under any specified contingency exceeds the highest lawful rate, the Obligors, the Agent and the Lenders shall, to the maximum extent permitted by Applicable Law, (i) characterize any non-principal payment as an expense, fee or premium rather than as interest, (ii) exclude voluntary prepayments and the effects thereof, (iii) amortize, prorate, allocate and spread the total amount of interest throughout the term of such indebtedness so that interest thereon does not exceed the maximum amount permitted by Applicable Laws, and/or (iv) allocate interest between portions of such indebtedness to the end that no such portion shall bear interest at a rate greater than that permitted by Applicable Laws. For the purposes of the application of the Criminal Code (Canada), the effective annual rate of interest shall be determined in accordance with generally accepted actuarial practices and principles and in the event of any dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Agent shall be conclusive for the purpose of such determination.

Prohibited Rates of Interest. It is the intention of the Parties parties to comply with Applicable Law relating to applicable usury laws now or hereafter enacted. Notwithstanding Accordingly, notwithstanding any other provisions of this Agreement or any other Loan Document, in no event shall any Loan Document require the payment or permit the collection of interest or other amounts in an amount or at a rate in excess of the amount or rate that is permitted by Applicable Law law or in an amount or at a rate that would result in the receipt by the Lenders or the Agent of interest at a criminal rate, as the terns terms “interest” and “criminal rate” are defined under the Criminal Code (Canada). Where more than one such Applicable Law law is applicable to any Obligor, that such Obligor shall not be obliged to make payment in an amount or at a rate higher than the lowest amount or rate permitted by such Applicable Lawslaws. If from any circumstances whatever, fulfilment of any provision of any Loan Document shall involve transcending the limit of validity prescribed by any Applicable Law for the collection or charging of interest, the obligation to be fulfilled shall be reduced to the limit of such validity, and if from any such circumstances the Agent or the Lenders shall ever receive anything of value as interest or deemed interest under any Loan Document in an amount that would exceed the highest lawful rate of interest permitted by any Applicable Law, such amount that would be excessive interest shall be applied to the reduction of the principal amount of the CreditCredits, and not to the payment of interest, or if such excessive interest exceeds the unpaid principal balance of the CreditCredits, the amount exceeding the unpaid balance shall be refunded to the Borrowersapplicable Borrower. In determining whether or not the interest paid or payable under any specified contingency exceeds the highest lawful rate, the Obligors, the Agent and the Lenders shall, to the maximum extent permitted by Applicable Law, Laws (ia) characterize any non-principal payment as an expense, fee or premium rather than as interest, (iib) exclude voluntary prepayments and the effects thereof, (iiic) amortize, prorate, allocate and spread the total amount of interest throughout the term of such indebtedness so that interest thereon does not exceed the maximum amount permitted by Applicable Laws, and/or or (ivd) allocate interest between portions of such indebtedness to the end that no such portion shall bear interest at a rate greater than that permitted by Applicable Laws. For the purposes of the application of the Criminal Code (Canada), the effective annual rate of interest shall be determined in accordance with generally accepted actuarial practices and principles and in the event of any dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Agent shall be conclusive for the purpose of such determination.